Bank Charges to take Cdn Money!

General Forums General Chat
1

I was inspecting my bank statement to see what underhanded trick the bank had come up with this month when I discovered
A $6.75 extra charge for depositing cash into my account.

That explains why the teller asked me a week ago if I often deposited cash and if she should look into more banking options for me.
They are charging EXTRA to take the legal tender of the realm and stain their hands with it. The this is the exchange tender issued by the gov’t of Canada, signed by the Bank of Canada and recognized by the Queen.

This cannot even be legal!!! A 2% surcharge to accept Canadian currency in a Canadian bank? No way, no how legal.
Banksm are above Parliament, above the Queen?

Mr. Cullen (or your aides) do you read this forum? Here’s an issue to raise in Parliament. If Parliament still has the nerve to claim it makes the rules.

I intend to post a pdf of my statement online for all to see. With the name of the bank clear as a bell, for all to see…
tick tick tock. I’m awaiting some comments here first.

2

I remember when I opened a new account this summer and was told I had XX number of free debits before I get charged each month, and I asked how many free deposits I had. The person looked at me and smiled and I realized how silly what I just asked was. Why would any bank charge a person for depositing money into an account held with that bank? It’s preposterous.

3

Because they can. We’ve become reliant on banks and they know it therefore they can rape us with more fees on deposits and withdrawals.

4

Well, all I can say is that my bank doesn’t.

5

Could it be that you were depositing coins? They are legal tender up to relatively small amounts, eg no more than 25 pennies, with other limits for nickels, dimes and other coins less than a loonie, so there may be fees for accepting them if they are over the limits. I don’t think there are any limits on loonies, toonies and paper currency. If that’s not the explanation it would be interesting to know which bank charged the fees.

6

Which bank, I was planning on switching banks soon and i sure as f!#^ won’t go there.

7

I know the Royal Bank doesn’t charge for that type of withdrawal/deposit with a teller

8

I would also be very interested to know which banks charge this fee. This is insane.

9

Maybe he’s being charged per transaction.

10

No, not on a personal account.
Just business accounts where it suddenly appears for the first time in ten years. Along with an offer to ‘look into better banking options’ for you.
That’s moot.
I restate that it must be illegal to charge for accepling Canadian bills, in Canada.