While scouring the Internet for different ways to save, I came across a method for residents for British Columbia to save money in their banking.
As we all know, we pay quite a bit of money to your respective banks; the banking fees we end up paying go towards us using the type of account. It does not end there; we have to pay extra if we go over our transaction limits, among many other things.
The solution I found was a recent article posted on www.banknerd.ca, titled, “Free Chequing, Free Debit and More Account at Capital Coast Savings”.
As the title depicts, you are able to get a free chequing account at Capital Coast Savings. After reading the article on Banknerd.ca I found that there are no strings attached. You can use the account for your day to day activities like you would any other bank account, however there is no monthly fees or any fee whatsoever attached.
The only downside is that this account can only be opened to those who are residents of British Columbia.
Now if you are asking yourselves why would having an account with no fees benefit you, then you are not looking at the big picture.
Let us say that in general a person will be using an account, which has a monthly fee that ranges from $13.00 to $25.00. Now, if you take this to consideration, you are already saving $130.00 o $250.00 a year in bank fees alone. Although it seems minuscule, it can still add up over the years, not to mention it can top off your savings account.
The savings may seem small, but in my opinion anywhere you can save money is a great help.