TORONTO – Canada’s largest banks are now charging a $3.50 fee for every button that is pressed on any bank machine.
RBC, TD, BMO, ScotiaBank and CIBC claim that the new ‘digit service fee’ is providing customers with digits from 0-9, as well the Enter, Cancel, and Correction buttons that are clearly marked and available to be touched 24-7. The banks made the announcement within a 129 page, 4 size font booklet that was mailed out to all account holders.
“If customers want to reduce the fee amount, I recommend narrowing your bank pin to a single digit,” said consumer advocate Theresa Dumitrescu. “‘3’ is very popular.”
Canadian bank customers will also face a new teller charge of $3.95 for each minute they spend interacting with a bank employee and any smiles or small talk about the weather will cost extra.
Quarterly profits have been strong for the Big Five as they have shifted most of their services into fleecing more of their clients.