Great video, it might be nice to include some of the completely free accounts with no minimum balance offered by credit unions and some of the smaller banks.
Less than a year, thousand of miles, and finally the topic of banks has appeared. Please make videos showing a conversation with bank employees on various topics. Thank you so much for all great videos you've done.
I've been with RBC student banking for two years. They also have a student free chequing service as many other Canadian banks do, but after my graduation they've just switch my account to NO Limit one without noticing me, and I paid $15.95 of monthly fee for 3 months. This is just another example of quiet nickel-and-diming by RBC. Save your money, go with TD or other bank.
The account is for students and you are no longer a student. If you would of read the fine print and check your statements more often, you would have avoided this completely or been prepared for it. Be more attentive and responsible next time.
@@liamwelsh5565 Students in Canada are spoiled rotten... less than 50 bucks compared to all he has saved while being a student through discounts nearly everywhere... yeah, no compassion here.
@@aba192 That's because businesses know that students are broke and help support the future generation. I don't think there's anything wrong with that.
I've got a account with Scotia, I set it up 4 years ago. I mean I did not know how things worked out in Canada then. If I saw this Video in 2015, I would have go for TD. Thanks for this Video. Great Video Excellent stuff.
Hey teacher Mark! Thank you so much for this video. Very useful. And perfect pronunciation too, I didn't need to put captions on. Just moved to Canada one week ago, I'm still learning English! Looking forward to your next videos :)
Every one of these banks has great student banking accounts, and they are almost the same with minor differences (say one offers some money, another offers scene points etc). But yes, for normal accounts for regular people, definitely TD seems like the best option for chequing account. Thank you for such wonderful informative videos. I just discovered you. Watched a bunch of your videos one by one, and subscribed too. Keep up the good one with informative videos.
Hi, Mark. Interesting information and English vocabulary. By reading some of the comments I can tell that you are not only famous internatioanally, but in Canada as well. The train of thought well presented and understood. Great teacher!
Best options for checking account are online banks like Tangerine. If you want a physical bank, the RBC offer a rebate if you have 2 services with them (TFSA, Mortgage, Credit card etc).. Having a minimum balance tied in a chequing account is not a good idea, since you will never use that money, unless you pay a monthly fee. Better deposit that amount in your RRSP/TFSA in a good ETF
2:59 that is actually a misunderstanding. It means if you dont have above $4000 by the end of the month (last day of the month) then you will have to pay
Thank you for making this informative video, Mark. I have been with TD, on student account for four years. I don't have to pay monthly fees. That's good. But I am graduating next year. I don't think I can still be on student account after graduating. Your video gives me a thought what account I should choose if I am not on the student account anymore.
FYI BMO has free banking for students (postsecondary) and under 18 clients. td gives 25 transactions BMO gives 30. for newcomers to Canada the other banks give 6 months free banking, BMO gives one year free banking with unlimited transactions.
6:56 Hahahahaha I literally physically loled. That's because you're describing me here. 6:56 Thanks for the useful video and it really helped me as a new immigrant! Thanks Mad English TV!
There's no min monthly balance in RBC for a reason. The $4 monthly fee is waved if you have a CC and an investment acct (TFSA, RRSP, etc.) with them. That's the best deal among all other major banks, and I looked into every single one
~13:26 the RBC multi-account rebate means you'd need at least two different products with RBC. For example, Having a credit card, and having for instance a TFSA account open with RBC would rebate the monthly fee.
All big 5 have student accounts, and kids account. For newcomers, there are newcomer plan too, most of banks offer 1 year free banking for newcomer. Previous BMO practice plan can rebate the fee if keep the minimum balance of 2000 dollars, they changed it last December. I am expecting TD will change it too. But seniors can get senior discount, most of time it is 4 dollars. BMO premium plan can waive BMO Elite Master Card fee too. And BMO provides CDCB program for DND, military, polices. Scotiabank Scotia One is changing, it will increase to 15.59 per month, but still only 4000 dollars to get monthly fee rebate , unlimited etransfer this time. Also waive CC fee and can get bonus interest rate for saving account and investment. I don’t know how to get the conclusion that TD bank account is the best. Everybody may have different needs.
Well, TD is pretty good bank but many banks also offer the same benefit of student and youth accounts. I agree TD and BMO are reasonable banks. I have had all bank accounts expect for RBC. You did good research.
Hi, dear teacher Mark. I had checked so many English programs on RUclips but no one had fulfil my expectations until I discovered Mad English Tv and decided to stick with it. The reason why I made such a great decision is because METV is so philosophical so critical of the language. So keep it up! I hope you reach a million subscribers soon.
Hi mark, thank you for the great video, I just wanna say RBC also has student account with no monthly fee. And please make a video about how to buy stock in Canada.
The way it's explained feels like it's intended for immigrants, non-native speakers or perhaps people new to banking. Perfect "Banking For Dummies" series in a good sense. Also I did my research and looked up each bank's chequing plans after the video. Looks like your list is outdated in 2021.
Great video. It will be really helpful if you make a video specifically for international students because we don’t know which bank to choose when we arrive in Canada plus we are new to Canadian banking system.
In Quebec we have Desjardins, with 1,5k in your checking account you can do 12 transactions a month and unlimited transfer transactions within your different accounts, for example to pay your mortgage etc. Very interesting this video about banks !
Alex Nezhynsky you’re right they’ve been hacked lately, I’m one of the 2,5 millions they’ve been hacked. Desjardins pay a 5 years protection with equifax, and a full refund in case of problems with this event, we don’t have worry about it even if some of my personal information could have been sold to dishonest persons.
The RBC rebate comes from having one investment of 500 bucks or more and 1 credit card. It will reduce the bank fee of any bank account they have by 11 bucks. Meaning the first two accounts are free with no minimum balance. (well i guess 500 if you consider your investment). Fees are rebated because if you have zero dollars they make money on the overdraft.
RBC has a better student account in my opinion I moved to RBC as they offer unlimited transactions, no monthly fee and also the students get access to RBC rewards.
I find it cruel that banks are allowed to waive monthly fees for people who have money. The people who don't need that monthly fee waived and can afford to pay it without issue. Compare that to a minimum wage worker who barley can put food on the table. That $15 a month is an extra meal or two for their family. In my opinion, there should be a law for this. Either make it illegal for banks to waive monthly fees for a certain balance or make it to where banking is free for anyone below a certain balance or income. Income would be better as it would prevent people from just not depositing money to avoid the monthly payment.
10:55 is your answy. They use your money to make money. If person A has no money they have nothing to win with you. So, they charge you. They fight for the rich because the monthly fees are insignificant for what they provide. Someone using a bank with no money is the same as going to a restaurant and ordering water. Remove the monthly fees, and banks will be inaccessible to the less fortunate, because they will lose money by paying staff to serve someone who brings them 0$. It's a private business - they are allowed to refuse providing services to you, but that's immoral so "fine! You want me to deal with you and make little money? I'll safeguard your money but pay 15$/month"
Thanks 🙏🏼 for good information are you great mark i am from italy and i like canada and i applied for a Canadian visa i am whetting answer from the Canadian embassy.take care 👍🏼
What's counted as a transaction? Debit card use at POS terminals or just transfers? Also, couldn't see the number of transactions prior to TD student account when you said per month. Is it per month for all others?
You believe that bank shouldn't charge the monthly fees.OK but for running their services they must pay for servers, electricity, programms, wages to people who run all these services and taxes of course. So banks do have great expenses. So I believe it is pretty fair paying something for the convenience you have thanks to banks. By the way I pay very little per year and TINY amount a month for statement messages.
Can you do a video on which banks are best for Canadian Snowbirds? I get charged a lot of fees when doing ATM withdrawals outside of Canada. Many services are only available at the branch and not online.
It'd have been nice if you mentioned 100% online Tangerine bank. As far as I know, there are no branches, so they don't charge all those stupid fees. And they use a network of ScotiaBank ATMs if you need a withdrawal.
Thank you so much for this very informative video! I have an account with TD and I am happy with my account too! It is a TD unlimited checking account where the monthly fee is $15.95, but is rebated for a minimum balance of $4000. When I just arrived in Canada, I did not have that much money. However, they waived my fees off for the first six months! I am also having unlimited transactions on my debit card and unlimited etransfers. I could also opt for a cashback credit card without any annual fees!
Hi. I really like to buy a coffee for you but unfortunately I live in Iran and it is impossible to transfer money . So big like for your videos from Iran
Don't be silly. The interest will barely keep you up with inflation. Now, of course you can get a high interest rate in foreign banks, but have fun withdrawing your money when the economy crashes!
Multiproduct rebate makes RBC the Best (One GIC 1000 Dollars locked in, 100 dollars a month sent to stock investing to avoid inactivity fees or a Visa you use) Free day 2 day banking. With No limit Banking add a mortgage and it's free. (In this case Minimum balance is 500 dollars on a GIC likely 1000 and one active Visa) With No minimum balance So really 500 bucks and a RBC rewards card to have day to day banking for free Best Kid account is the RBC Leo young Savers
You didn't mention the free bank accounts that are online accounts such as Simplii Financial or Tangerine. Any chance you'd like to discuss those kinds of accounts?
One dollar is better than zero That you get from a savings account I personally don’t like the idea of just leaving money in a checking account. If I had 4000 in there I’d rather put it somewhere work at least get free money even if it’s small
Honestly, I love Tangerine checkin account. The online set up, mobile app, free etransfers etc are the star points. The only thing I am missing is an actual Debit Card. Tangerine’s card cannot be used for online purchases and I hate that. Also, I moved away from TD whose online user interface and services sucked. I feel they have to revamp the technology stack for online banking. It is outdated.
kinda slow start, it a lot more efficient to start talking about the topic, I don't think anyone is watching this to find out closest bank to their house, great video tho
Lol u speak so politely. THE most Canadian Canadian I’ve ever seen 😂
Thank you, this was so helpful. I am a newcomer to Canada, today I learned English and the banking information I need too. Keep it that way please.
If you have Accounts Either New or Old let’s me Load it $50K then we split it💯
Him: You shouldn’t have only 5$ in your account that’s bad!
Me *watching this with currently 3 cents in my account* : neat
Text harkersmitt on Instagram for free money
Great video, it might be nice to include some of the completely free accounts with no minimum balance offered by credit unions and some of the smaller banks.
Now that's a great comparision. Would appreciate if you could do a series catered to international students
Less than a year, thousand of miles, and finally the topic of banks has appeared. Please make videos showing a conversation with bank employees on various topics. Thank you so much for all great videos you've done.
Wow !I am just going to open an account withTD next year when I land there 👍🏻 thank you so much for the video Mark 😃
Yes, any updates :) ?
I've been with RBC student banking for two years. They also have a student free chequing service as many other Canadian banks do, but after my graduation they've just switch my account to NO Limit one without noticing me, and I paid $15.95 of monthly fee for 3 months. This is just another example of quiet nickel-and-diming by RBC. Save your money, go with TD or other bank.
Simplii financial or Tangerine amazing value no fees!
The account is for students and you are no longer a student. If you would of read the fine print and check your statements more often, you would have avoided this completely or been prepared for it. Be more attentive and responsible next time.
@@liamwelsh5565 Students in Canada are spoiled rotten... less than 50 bucks compared to all he has saved while being a student through discounts nearly everywhere... yeah, no compassion here.
@@aba192 That's because businesses know that students are broke and help support the future generation. I don't think there's anything wrong with that.
@@liamwelsh5565 Sure, but then don't cry when you'Re eventually treated like an acutal adult like the rest as OP did.
I've got a account with Scotia, I set it up 4 years ago. I mean I did not know how things worked out in Canada then. If I saw this Video in 2015, I would have go for TD. Thanks for this Video.
Great Video
Excellent stuff.
Hey teacher Mark! Thank you so much for this video. Very useful. And perfect pronunciation too, I didn't need to put captions on. Just moved to Canada one week ago, I'm still learning English! Looking forward to your next videos :)
Every one of these banks has great student banking accounts, and they are almost the same with minor differences (say one offers some money, another offers scene points etc). But yes, for normal accounts for regular people, definitely TD seems like the best option for chequing account.
Thank you for such wonderful informative videos. I just discovered you. Watched a bunch of your videos one by one, and subscribed too. Keep up the good one with informative videos.
Hi, Mark. Interesting information and English vocabulary. By reading some of the comments I can tell that you are not only famous internatioanally, but in Canada as well. The train of thought well presented and understood. Great teacher!
😃😃
Great man, very helpful video, i just moved to Canada from Thailand, and yeah banking system are kinda different.
Thanks and keep it up
Nice, very good explanation in easy way you are a good teacher, many love for you.
Best options for checking account are online banks like Tangerine. If you want a physical bank, the RBC offer a rebate if you have 2 services with them (TFSA, Mortgage, Credit card etc).. Having a minimum balance tied in a chequing account is not a good idea, since you will never use that money, unless you pay a monthly fee. Better deposit that amount in your RRSP/TFSA in a good ETF
This is so informative and helpful, thank you. Love your geeky demeanor.
2:59 that is actually a misunderstanding. It means if you dont have above $4000 by the end of the month (last day of the month) then you will have to pay
Thank you for this video ! we are moving to Aanada and I was searching for which bank to open an account in . This video was really helpful !
Simplii Financial is great. No monthy fees and free Etransfers
@Bellota They are own by CIBC. Use Google.
And a nice credit card iirc.. Too bad theyre unavailable in communist quebec
@@aba192 Quebec is a far right scum hole. We are sadly not a true communist country yet but I pray some day we rid the country of conservatism
@@thedailylifeofjay3822 Lmao, you're a crazy collectivist, go to NK or some other shithole that already ruined their country with socialism
Thank you for making this informative video, Mark. I have been with TD, on student account for four years. I don't have to pay monthly fees. That's good. But I am graduating next year. I don't think I can still be on student account after graduating. Your video gives me a thought what account I should choose if I am not on the student account anymore.
Thanks for clarifying those confusing rules of bank accounts
I’m with RBC for 4 years now. I don’t get any benefits. But it’s for free so i’m not complaining.
We were newcomers when we opened the account so maybe that’s why it’s free
FYI BMO has free banking for students (postsecondary) and under 18 clients. td gives 25 transactions BMO gives 30. for newcomers to Canada the other banks give 6 months free banking, BMO gives one year free banking with unlimited transactions.
Perfect!
We r waiting for u on saving account shortly
6:56 Hahahahaha I literally physically loled. That's because you're describing me here. 6:56 Thanks for the useful video and it really helped me as a new immigrant! Thanks Mad English TV!
Your video was awesome and really informative for me. Thanks a lot🌹🌹🌹
There's no min monthly balance in RBC for a reason. The $4 monthly fee is waved if you have a CC and an investment acct (TFSA, RRSP, etc.) with them. That's the best deal among all other major banks, and I looked into every single one
I opened my first bank account with CIBC. So far so good but they kinda have semi-okay interest rates.
Hi, we are learning a lot with your videos, thank you very much. Regards.
~13:26 the RBC multi-account rebate means you'd need at least two different products with RBC. For example, Having a credit card, and having for instance a TFSA account open with RBC would rebate the monthly fee.
Sounds much better at 1.5 or 1.75x. Good content, buddy.
I had fun watching your video! informative as well.
Awesome video, short and sharp @mad thanks.
Suggestion to others: go 1.5 speed ;) saves you tons.
Yes. You've made a wonderful advertisement.
All big 5 have student accounts, and kids account. For newcomers, there are newcomer plan too, most of banks offer 1 year free banking for newcomer.
Previous BMO practice plan can rebate the fee if keep the minimum balance of 2000 dollars, they changed it last December. I am expecting TD will change it too. But seniors can get senior discount, most of time it is 4 dollars. BMO premium plan can waive BMO Elite Master Card fee too. And BMO provides CDCB program for DND, military, polices.
Scotiabank Scotia One is changing, it will increase to 15.59 per month, but still only 4000 dollars to get monthly fee rebate , unlimited etransfer this time. Also waive CC fee and can get bonus interest rate for saving account and investment. I don’t know how to get the conclusion that TD bank account is the best. Everybody may have different needs.
Well, TD is pretty good bank but many banks also offer the same benefit of student and youth accounts. I agree TD and BMO are reasonable banks. I have had all bank accounts expect for RBC. You did good research.
😃😃
Great lesson !
If I get it right you might have to pay the bank for saving your money . Sounds strange to me .
Thanks! 😃😃You have to let the bank hold lots of your money in order to save money.
Hi, dear teacher Mark. I had checked so many English programs on RUclips but no one had fulfil my expectations until I discovered Mad English Tv and decided to stick with it. The reason why I made such a great decision is because METV is so philosophical so critical of the language. So keep it up! I hope you reach a million subscribers soon.
Thanks so much! 😃😃
Thank you for this video. Great analysis👍🏼
Hey Mark! Marvelous lesson! Thanks for teaching! Have a nice day and take care!
Thx I live in USA and wanted to invest in Canada now I can.
Brother, you are one of my greatest
Hi mark, thank you for the great video, I just wanna say RBC also has student account with no monthly fee. And please make a video about how to buy stock in Canada.
Samaneh NB yes he should make a video tutorial
Hi Mark! Thanks a lot for your good information!
The way it's explained feels like it's intended for immigrants, non-native speakers or perhaps people new to banking.
Perfect "Banking For Dummies" series in a good sense.
Also I did my research and looked up each bank's chequing plans after the video. Looks like your list is outdated in 2021.
Thanks for that greats sense of humor.
Pretty nice. I would follow your instructions to find the one for myself.
Binging all of these bank and credit card videos on my 18th birthday
Thanks fried very good information about the bank account 😆👍
Great video. It will be really helpful if you make a video specifically for international students because we don’t know which bank to choose when we arrive in Canada plus we are new to Canadian banking system.
man your videos are great.thanks
Hey teacher :D nice video!, I learned a lot of stuff =)
😃😃
In Quebec we have Desjardins, with 1,5k in your checking account you can do 12 transactions a month and unlimited transfer transactions within your different accounts, for example to pay your mortgage etc. Very interesting this video about banks !
Hmmm... Weren't they hacked though recently?
Alex Nezhynsky you’re right they’ve been hacked lately, I’m one of the 2,5 millions they’ve been hacked. Desjardins pay a 5 years protection with equifax, and a full refund in case of problems with this event, we don’t have worry about it even if some of my personal information could have been sold to dishonest persons.
Never go with Desjardins !
Thanks a lot for this useful video 😘😘
One of the my best TD Bank of Canada
The RBC rebate comes from having one investment of 500 bucks or more and 1 credit card. It will reduce the bank fee of any bank account they have by 11 bucks. Meaning the first two accounts are free with no minimum balance. (well i guess 500 if you consider your investment). Fees are rebated because if you have zero dollars they make money on the overdraft.
Very informative video. Keep it up 👍🏻
Hi dear teacher , thanks for your great videos 👍👍🙏🙏🙏
Great job Mark!!!!
I can’t keep the money , so for me it’s a better using in saving account
... Whatever you do, do not go to RBC ... Transferred all my assets to Scotia bank
RBC has a better student account in my opinion I moved to RBC as they offer unlimited transactions, no monthly fee and also the students get access to RBC rewards.
Great video. Could you make video on which bank best for saving account and money investment in canada. Thank you!
You are fantastic teacher!! Universal excellence!
Yes I do, see you at the next episode 😘
I find it cruel that banks are allowed to waive monthly fees for people who have money. The people who don't need that monthly fee waived and can afford to pay it without issue. Compare that to a minimum wage worker who barley can put food on the table. That $15 a month is an extra meal or two for their family. In my opinion, there should be a law for this. Either make it illegal for banks to waive monthly fees for a certain balance or make it to where banking is free for anyone below a certain balance or income. Income would be better as it would prevent people from just not depositing money to avoid the monthly payment.
Your so wrong
10:55 is your answy.
They use your money to make money. If person A has no money they have nothing to win with you. So, they charge you. They fight for the rich because the monthly fees are insignificant for what they provide.
Someone using a bank with no money is the same as going to a restaurant and ordering water. Remove the monthly fees, and banks will be inaccessible to the less fortunate, because they will lose money by paying staff to serve someone who brings them 0$. It's a private business - they are allowed to refuse providing services to you, but that's immoral so "fine! You want me to deal with you and make little money? I'll safeguard your money but pay 15$/month"
BEST VIDEO ON RUclips!
Thanks 🙏🏼 for good information are you great mark i am from italy and i like canada and i applied for a Canadian visa i am whetting answer from the Canadian embassy.take care 👍🏼
LOL I love the end. Practice etransfers. :)
You are great my friend
Hi Mark great lesson thanks.
Dear mark
Would you mind telling me how much money would be needed to buy the Canadian stocks at least?
Best wishes 😍
I'll make a video about that soon! 😃😃
Great !....😍👍🏻
thank you Mr for video GOD bless you
Thank you Mr Mark🎄🎄🎄
great video!
What's counted as a transaction? Debit card use at POS terminals or just transfers?
Also, couldn't see the number of transactions prior to TD student account when you said per month. Is it per month for all others?
You believe that bank shouldn't charge the monthly fees.OK but for running their services they must pay for servers, electricity, programms, wages to people who run all these services and taxes of course. So banks do have great expenses. So I believe it is pretty fair paying something for the convenience you have thanks to banks.
By the way I pay very little per year and TINY amount a month for statement messages.
Can you do a video on which banks are best for Canadian Snowbirds? I get charged a lot of fees when doing ATM withdrawals outside of Canada. Many services are only available at the branch and not online.
Cibc
Great video✍️👋
It'd have been nice if you mentioned 100% online Tangerine bank. As far as I know, there are no branches, so they don't charge all those stupid fees. And they use a network of ScotiaBank ATMs if you need a withdrawal.
Cool! 😃😃
Dear mark
I have good news......I am a student at UBC. My course will be started on September 2019.
Thank you so much for your help to learn English .
Hi! 😃😃Congratulations!
Thank you so much dear teacher.
🎉🌹🎊🌹🎉🎊🎊🎉💕💕💕💕
Thank you so much for this very informative video! I have an account with TD and I am happy with my account too! It is a TD unlimited checking account where the monthly fee is $15.95, but is rebated for a minimum balance of $4000. When I just arrived in Canada, I did not have that much money. However, they waived my fees off for the first six months! I am also having unlimited transactions on my debit card and unlimited etransfers. I could also opt for a cashback credit card without any annual fees!
Contact him and am very sure he gonna find solution to your problems
Hello mam Kemon achen ?
Mark can you make some videos how to pay the bill on line
Hi. I really like to buy a coffee for you but unfortunately I live in Iran and it is impossible to transfer money . So big like for your videos from Iran
Thank you so much! It's the thought that counts! Merry Christmas! 😃😃
For a new citizen which would be the best ? And best for mortgage
Simplii financial is good ,old name PC financial, both are Cibc brand.
HELLO SIR, WHICH BANK AND BANKING TYPE IS GOOD FOR A VISITOR VISA HOLDER
simplii financial blowsss these away, good video though even though td is my least favorite bank
Rbc always charge monthly fee, but they really have the highest interest in investment account. I think that's ok.
Are you saying that savings accounts are useless? It's insane! Yes savings account is one best way to save money from unnecessary spendings!
Interest rates offered by SA are usually lower than official inflation rate. You might as well use those money to fuel your fireplace if you have one.
Don't be silly. The interest will barely keep you up with inflation. Now, of course you can get a high interest rate in foreign banks, but have fun withdrawing your money when the economy crashes!
Multiproduct rebate makes RBC the Best (One GIC 1000 Dollars locked in, 100 dollars a month sent to stock investing to avoid inactivity fees or a Visa you use) Free day 2 day banking. With No limit Banking add a mortgage and it's free.
(In this case Minimum balance is 500 dollars on a GIC likely 1000 and one active Visa) With No minimum balance
So really 500 bucks and a RBC rewards card to have day to day banking for free
Best Kid account is the RBC Leo young Savers
You didn't mention the free bank accounts that are online accounts such as Simplii Financial or Tangerine. Any chance you'd like to discuss those kinds of accounts?
Good job teacher thanks
Awesome ... thank you to information all to bank in Canada. From Dr. Alpiansyah, M.MPd 😊☺❤❤👍👍👍
Hi. Does your information still work for 2022? or it has changed?
Yur videos work as a guide
For international students like us ##thanks
One dollar is better than zero That you get from a savings account I personally don’t like the idea of just leaving money in a checking account. If I had 4000 in there I’d rather put it somewhere work at least get free money even if it’s small
Honestly, I love Tangerine checkin account. The online set up, mobile app, free etransfers etc are the star points. The only thing I am missing is an actual Debit Card. Tangerine’s card cannot be used for online purchases and I hate that.
Also, I moved away from TD whose online user interface and services sucked. I feel they have to revamp the technology stack for online banking. It is outdated.
You can’t buy things online?
Good info.
kinda slow start, it a lot more efficient to start talking about the topic, I don't think anyone is watching this to find out closest bank to their house, great video tho