ATB Financial – ridiculous charges!
Beware of ATB Financial. They suckered me in with the idea of a no frills account for only $3.95 a month and you can create an account online!
Perfect for me…UNTIL…I went and deposited some cash a week later…
They charged me for the week before. I thought banks charge you fees at the END of the period/month. Nope. These guys don’t. I was like – that’s okay! I got my Debit card and was sooo happy that this was such an easy transaction…
UNTIL…I went home to change my Spotify, Netflix & Shudder account payments so they will come out of my new account. Surprise! You have to use a credit card – ATB Financial wants you to apply for one of their credit cards!
My Scotia bank (which I was going to close) has a Debit/Visa which has the expiry date and the 3 digit code required to use a credit card online. Luckily I did NOT close this account. So I went to the branch the next day to close that account. Surprise…they took even MORE money for the 24 hours and (drum roll please)…they made me pay $20 to close the 2 week old account! (Outstanding Flat Fee: $20.00)
What started as a $3.95 a month account turned into a $23.00 for 2 weeks account! I would understand a $5 fee to close it because it was open for a short time…BEWARE!