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Seniors accounts options
February 17, 2018
5:52 pm
Doug
British Columbia, Canada
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Top It Up said
... Just stop it. - I had the account, there were only 12 free transactions - if the account had unlimited I would never have moved to the Smart account. LIKE why would I move to an account that requires $3,000 vs $2,000 min. daily balance plus needing me to set up 1 or 2 direct deposits and 1 or 2 preauthorized pays to have the account fees waived - makes no sense. Just stop it.

https://web.archive.org/web/20170711114252/https://www.cibc.com/en/personal-banking/bank-accounts/senior-banking-offers.html

Enjoy the 60 Plus Advantage with any of these accounts:

The perfect account for your everyday banking needs.

CLICK on the RED LINK shown below - THOSE are the facts of the account

CIBC Everyday® Chequing Account  

If you were misled into switching, you could address that with them and ask for the grandfathered account back or, alternatively, the unlimited newer age free seniors account with unlimited transactions but manually negotiate with them, in writing, for you to be able to get waived fees on whatever 60 Plus Advantage gave you. 🙂

Cheers,
Doug

February 18, 2018
3:13 pm
Top It Up
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Incredibly hard to be mislead when CIBC never offered an unlimited transactions account - the best you could do fee free, was 12 free transactions.

Moving forward with the CIBC Smart Account where the

Entire monthly fee is waived if you maintain a minimum end of day balance of $3,000 each day and a recurring direct deposit or 2 pre-authorized payments each month in this account.

https://www.cibc.com/en/personal-banking/bank-accounts/chequing-accounts/smart-account.html

February 18, 2018
5:01 pm
Bill
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September 11, 2013
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In any event, banks are moving away from giving people a break solely because of their age, and with good reason: the seniors of today are from the first generation in which women entered the workforce en masse and so most seniors of today, if they live in pairs, have two pensions, investment pools, rrsps, etc to draw on. First time in human history, ever. I see that banks are now targeting low-income seniors for special discounts, and that makes more sense than a blanket break for all seniors which by definition would include many well-off folks.

Here's a link to a 2015 article (not from the perennially whining mainstream fake-news media) I keep handy to remind me of how wealthy not only seniors but most of us today are, compared to all the people before us:

https://www.cpacanada.ca/en/connecting-and-news/cpa-magazine/articles/2015/october/are-you-richer-or-poorer

June 3, 2023
10:30 am
kesa
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Footnote #2: Thanks for looking up BMO's current "senior account" option, Norman. Thought I should mention Canadian Western Bank's attractive Gold Leaf Plus Package Account (essentially like Motive Financial's free chequing account but with in-branch access to CWB's branches, free cheque orders and free bank drafts).

Per http://www.cwbank.com/personal.....us-package.

Does anyone have any comments re pros/cons on CWB Gold Leaf account?

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