Michael
Full Travel Member
Posts: 28
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Post by Michael on May 28, 2003 21:39:27 GMT -5
Alright, talk about last minute (I'm leaving in 58 hours and 55 minutes).
I bank with TD Canadatrust and I called them today to switch my account over to one that can handle more transactions and they waive the fee with a minimum monthly balance of $3000.00. This is called the Infinity Account.
Two minutes after I did that, I was doing a cost comparision on their site for "what's your best account" and lo and behold, I see the "Select Service Account" isn't acquiring any extra fees, even for Plus ABM usages.
Naturally, this intrigued me, so I looked at it in greater detail and realized "Hmm, 24.95/month waived if I maintain a minimum monthly balance of $5000.00....no sweat!"
This account is great if (a) you have enough money to hold it in an account for a month or so while you travel before you come home and put it into savings or (b) you plan on using LOTS of Plus ABMs in Europe and figure that your $3.00 charges are going to quickly overtake the $25.00 fee. Remember, 9 withdrawals later, it's already paid for itself.
I'm sure other banks probably have something similar, I'm just too lazy to look for it because I already bank at TD.
Hope this helps!
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Post by defining on Feb 19, 2004 16:46:30 GMT -5
first of all, I just want to say. Nice Topic. Here is the link that I think that you are talking about. www.tdcanadatrust.com/accounts/calc/actcalcTD.jspSince I'm also from Canada, and I bank with TD already, this is very tempting for me and will probably be my choice for banking while I'm in europe. But just to get this straight, here's an example of what the cost would be for me while travelling.... ------ SELECT SERVICE ACCOUNT --------- If I had 5,000 in the bank.... Monthly Cost of account is $0.00 and I can have as many ATM withdraw's as I want (Plus ABM's, Interact ABM's etc...) If I have under 5,0000 in the bank..... the monthly cost of the account is only 24.95 but I can have as many withdraw's as I want.... So basiclly, if you are travelling with a large amount of money you benefit by not having to pay interact fee's, and when you dip down under 5,000 you only pay 24.95 which is around 8 transactions/month. Still a pretty sweet deal. Someone please let me know if this is correct, as it seems to be a really good deal. =)
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Michelle
Senior Travel Member
Posts: 179
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Post by Michelle on Feb 19, 2004 17:00:49 GMT -5
Alright, interesting that this topic comes up today because I was actually just in the middle of starting to phone banks to find out their fees... I have a Scotiabank account (In Canada)... There are some banks in Europe that you can withdraw money for free ('BNP Pari Bus' in Paris, 'Barkley's' (sp?) in the UK, and the Duetschbank (sp?) in Germany and Spain) if you bank with Scotia.. That is as far as I got and then I read this topic! Has anyone else in Canada had any good luck with a bank with low fees? If you know of any, please post them! Hopefully it will save me phoning every bank in the lower mainland!! Thanks ~Michelle
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Post by WillTravel on Feb 19, 2004 17:40:04 GMT -5
I read that HSBC has no fees for European withdrawals at their banks - but you would have to check that.
Right now I am pretty sure I have the Infinity Account at TD and I pay $3 for each European withdrawal. I remember I looked at that other account but decided it wasn't a good deal for me - I don't remember the reasons right now. Sorry I can't be more helpful.
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