Bank Fees Can Add Up, Be Difficult to See, Consumer Group Says

$1.25 here, $1.75 there. Sometimes, bank fees can seem minimal enough, but the Financial Consumer Agency of Canada says the bigger picture on how much Canadians pay in bank fees might be more murky than it should be. The agency said in a review, released Friday, that while many bank fees seem relatively small on [...]

Bank Fees Can Add Up, Be Difficult to See, Consumer Group Says

TL;DR

  • Individual bank fees, though seemingly small, can add up significantly.
  • The complete fee structure is sometimes integrated into transactions, reducing consumer visibility.
  • The Financial Consumer Agency of Canada (FCAC) has reviewed the issue of bank fees.
  • FCAC Commissioner Shereen Benzvy Miller wants banks to play an active role in reducing fees and serving consumers better.

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