a conservative heretic commenting on hypocrisy and stupidity in a world with too much of both
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  • oldwhiteguy

    the difference between investment interest and credit card interest has made me crazy for years. 22% on a visa card and 1.75% on an investment with BNS. they get to loan my money out at rates far higher than they give me. when I studied economics a 22% interest rate was considered usury and jail was in store for those caught fleecing a borrower. I am fortunate that my wife is a firm believer in the use of cash. her sensible policy offsets my sometimes impulsive use of credit. your comments about service are on the money, no pun intended.

  • Thucydides_of_Athens

    Credit Unions provide a small amount of relief for the consumer, but their limited service areas mean that if you need to access an ATM in a different city, the charges get racked up again.

    What is needed is some sort of way to break the quasi monopoly the banks have. Alternative services like PayPal and Kickstarter can bypass some of the functions of banks, and Islamic customers can bypass banks almost entirely by accessing the Hawala network.

    Of course, the real way to go would be to create community banks that would offer services in competition to the established banks (or perhaps for Credit Unions to band together to create a national network from sea to sea to sea).

    • MaggiesBear

      Credit unions are more customer-centric because they’re owned by their customers. The idea of networking them across the country is an interesting one.

  • CanadaGoose1

    Have a Registered Educational Savings Plan for my son. Every time I try to get reimbursed for money I have paid for tuitiion fees, etc. it takes weeks. There is always some hitch. The banks act like nobody has ever used one of these plans. Surely there are some parents out there investing in these things.

    • MaggiesBear

      The level of service is abysmal. Have you ever noticed that virtually every transaction at the teller requires some supervisor to come over and rubber stamp or make an entry in the computer? It takes three times longer to do a transaction in the branch than I can do online. Hmmm, maybe I should apply for a job..

  • Pingback: Why I Hate Banks! | Grumpy Opinions()

  • Leeky

    Have you considered President’s Choice? It is free including checking.

    • MaggiesBear

      I appreciate the thought but President’s Choice isn’t a bank, it’s a transactional service that is connected to CIBC. In the end, it always comes back to a bank in this country.