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Email this9:42 pm
January 7, 2023
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First Ontario has just mailed letters outlining which new account(s) members' chequing account will be moved to on June 3. The existing accounts will be no more. So, my 'Everyday Convenience Account (Senior)', which included free bank drafts and 1 cheque book per year, free Day-to-day transactions (debits, cheques, pre-authorized debits, credits, 2 free Interac e-transfers per month) will be replaced by a 'Pay As You Go' account. This costs me money, although small. Same with my wife - free account now - but they say she will be moved to a $13.95 a month account.
4:56 am
June 15, 2019
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Wow, this is definitely a change in direction from what FirstOntario was known for which was offering a no-fee bank account with branch access. I am sure they will have a lot upset members who will no doubt probably look for an alternative option.
I wonder how long the other CU's that offer no-fee banking can keep this offering going as we're slowly started to see these accounts disappear (first Duca, not FirstOntario).
6:17 am
December 20, 2016
Online
here2day2 said
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I wonder how long the other CU's that offer no-fee banking can keep this offering going as we're slowly started to see these accounts disappear (first Duca, not FirstOntario).
To my knowledge, DUCA has not discontinued no fee services, at least for clients +60; as well as their No Fee Banking Bundle requiring a minimum deposit of $1000 in checking acct.
What are you referring to about DUCA?
Stephen
7:37 am
November 8, 2018
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I wonder how long the other CU's that offer no-fee banking can keep this offering going as we're slowly started to see these accounts disappear
Meridian CU used to have Senior Chequing Account for 60+, with no fee, no minimum balance, free chequebook annually, 4 free bank drafts, free monthly paper statements, free certified cheques.
They discontinued it as of September 1, 2023. New Senior account fee structure includes either monthly fee or minimum $2,000 balance. It might also have different set of features.
Aging population forces FIs to cut free services tailored for seniors. It is inevitable.
7:35 pm
June 15, 2019
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Nehpets said
To my knowledge, DUCA has not discontinued no fee services, at least for clients +60; as well as their No Fee Banking Bundle requiring a minimum deposit of $1000 in checking acct.
What are you referring to about DUCA?
Stephen
Duca previously did not require a minimum balance for non-senior accounts. It was free banking even if you kept $1 in account.
10:06 am
December 12, 2009
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here2day2 said
Duca previously did not require a minimum balance for non-senior accounts. It was free banking even if you kept $1 in account.
That's true. Just noticed DUCA has downgraded their No Fee Daylight Banking Bundle in a major way. Two more no-fee chequing accounts bite the dust. I'll update the chart and post an update. Thanks! Any idea when this took effect?
12:02 pm
September 5, 2023
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Venteicher said
First Ontario has just mailed letters outlining which new account(s) members' chequing account will be moved to on June 3. The existing accounts will be no more. So, my 'Everyday Convenience Account (Senior)', which included free bank drafts and 1 cheque book per year, free Day-to-day transactions (debits, cheques, pre-authorized debits, credits, 2 free Interac e-transfers per month) will be replaced by a 'Pay As You Go' account. This costs me money, although small. Same with my wife - free account now - but they say she will be moved to a $13.95 a month account.
I am assuming this was voted on at the last members meeting.
And presumably the case was made this set of options works best for members.
Please write your comments in the forum.