Savings and Chequing
Save! Save! Save! A Little Money Adds Up!
Compare Chequing Accounts
Location
Branch offices; hours of operation; availability of ABMs
Fees
Monthly fees; per cheque fees; printing of cheques; balance inquiry fees; ABM fees, internet/telephone banking fees
Other charges
Overdraft charge; stop payment fees; certified cheque fees
Interest
Rate earned; minimum deposit to earn interest; compounding method; fee charged for falling below necessary balance
Restrictions
Minimum balance; deposit insurance; holding period for deposited cheques
Special features
Direct deposit; automatic payments; overdraft protection; online banking; discounts or free chequing for students, seniors, or employees of certain companies
Electronic Banking Services
Direct deposit - earnings (or government payments) automatically deposited into bank accounts, saving time, effort, and money.
Automatic payments - utility companies, loan payments, and other businesses use an automatic payment system with bills paid through direct withdrawal from a bank account.
Automatic banking machines - allow customers to obtain cash and conduct banking transactions.
Point of sale transactions - acceptance of ABM/Interac cards at retail stores and restaurants for payment of goods and services.
Stored value cards - prepaid cards for telephone service, transit fares, laundry service, library fees, and school lunches.
Electronic cash - companies are developing electronic replicas of all existing payment systems cash, cheque, credit cards, and coins.
Cyber Banking - banking through online services. Banks with Web site “cyber” branches allow customers to check balances, pay bills, transfer funds, compare savings plans, and apply for loans on the internet.
