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Banking Fees are Getting a Tad Ridiculous

Published September 23, 2009 - 4 Comments

It’s nice to see that, in these difficult economic times, Canada’s banks continue to flourish.  And why shouldn’t they?  I pretty much single-handedly support at least one of them.  Between my monthly fees, and all the additional usage fees, I’m surprised that I don’t have a seat at the board.  Whoever came up with the idea of a bank was a freakin’ genius.  I wish it had been me.

I pay $13/month for my supposedly “all inclusive” banking package.  I know that some people refuse to pay that much, but I figured that my monthly withdrawals were significant enough to warrant the higher package.  I could pay just $13/month and not have to worry about any other fees, right?

If only that were true.

If I want to withdraw money from any other bank machine other than my own bank’s, I don’t get charged by my bank, but there’s a nice little charge from the other bank.  OK.  Fine.  I only do that in the rarest of circumstances, but it still burns me.  But here’s the real kicker…

RBC charges $40 for a NSF fee?  I nearly fell out of my chair when I saw that I had been charged $40 after they determined that there were insufficient funds to cover my $25 gym membership withdrawal.  (The fact that it was a gym membership fee that cost me an additional $40 makes it even worse!)  I knew that my balance was low, and deposited cash into the machine to cover the $25.  But it was after 6pm, and even though my balance READ higher than $25, when midnight struck, the computer nailed me with a $40 NSF fee!

I can remember a time when an NSF fee was merely an inconvenience, not a tank of gas!  When the hell did that change?  And to rub it in even more, RBC runs an ad on TV where they mention all the benefits of the particular plan that I have, including “Free Over Draft Protection”.  So I called their helpdesk and asked why I had been charged that ridiculous fee.

“Did you apply for over draft protection, sir?”

*sigh*

I hate these people.  I’d hide my money under the mattress if I have money.  Or a decent mattress.