Financial Service Charges Annual Report 1999
Highlights:
- There have been only modest changes in service charges since last year.
- For consumers who like electronic banking, the new virtual banks offer a competitive alternative.
- Most decreases in fees have been for electronic transactions while most increases have often been for in-branch services.
- For low-volume users and in-branch transactions, some credit unions offer better deals.
- Fees can be much higher for consumers who don't use the right package or who aren't careful about the number of transactions they make.
We used five consumer profiles of typical financial service habits as the basis of this Annual Report. These profiles were developed by Montreal's Option Consommateurs using 1998 survey and focus group data. View these profiles first to link to the Annual Report tables:
This product provides a general overview of service charges. Visit our Financial Service Charges Calculator to view service charges tailored to your own monthly transaction profile.
Data used in this product is current as of December 1998.
Why an Annual Report?
While our Financial Service Charges Calculator allows individuals to compare their own monthly service charges between institutions, the Annual Report allows individuals, the media, and organizations to view trends in Canadian financial service charges.
What does the Annual Report do?
The Annual Report uses five general consumer profiles to illustrate the full range of service charges charged by Canadian financial institutions.
