Experts Say Canadians Too Complacent To Protest Bank Fees
Banks Raising Fees On Certain Services Despite Posting Billions In Profit
Several of Canada’s biggest banks are upping the fees they charge, and experts say us Canadians are just gonna roll over and take it. TD Bank boosted a few of their fees associated with personal deposit accounts, CIBC raised the minimum balance needed to avoid paying monthly fees, Scotia and Bank of Montreal raising fees associated with their credit cards, and despite the big five posting a combined 8.12 billion in profit last quarter, experts say Canadians are too complacent with these fees to switch to lower cost options like credit unions or emerging financial tech startups.
