I’m planning to open a new chequing account in the near future, and I’m contemplating bailing on RBC. I’ve been with them for a very long time, and one possible outcome is that I’ll just open a new RBC account and be done with it. That’d be… fine.
But for a variety of reasons (including my satisfaction with RBC trending steadily downward), I’m thinking about opening this new account elsewhere. I don’t have a ton of hard requirements, and I’m not really sure what to look for in a bank, but the following would be nice:
- Good online banking experience, particularly desktop (RBC is shockingly bad at this)
- Good credit card; easy to make payments from the new account
- Minimal fees
- Easy e-transfers
- Real security (another thing RBC is terrible at)
- Neat rewards would be cool
- Low-fee, low-friction investing would also be cool-- I don’t really do much investing, but I’d like to be able to
Any suggestions would be great, including anti-suggestions if you happen to know of a bank that I should avoid.
Happy to help! If I had to pick just one it would probably be TD or Wealthsimple (with Tangerine as the runner up). TD because of the All Inclusive account that has no fees with a minimum balance of $5000 and a bunch of extra perks like a pretty great premium credit card. Wealthsimple because it’s the hands down best investing option (highly recommend visiting this website for guidance). Tangerine is close but I just can’t fully stomach their security and how they don’t implement some ease or use features (most other banks I’ve experienced have them all so they have no excuse).
Moving money between EQ and Tangerine really only nets an extra few hundred per year at most, so it’s not super worth it honestly. I do it because I like the little bit extra. You’re correct there, I move it only when Tangerine offers a promotional interest rate for their HISA that is higher than the HISA at EQ.