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Effective Saturday, July 1, 2023, the Personal Service Charge Bulletin will be updated. Please review the fees that apply to your account and services.
If you have any questions about these changes, please contact us.
Here’s a summary of the upcoming changes, along with some suggestions for ways to save on fees.
We work hard to keep our fees low for our members, and they have remained largely unchanged for many years. Updating some of our fees allows us to enhance your banking experience and deliver the services you need to achieve your financial needs and goals.
Monthly package fee: $7.75
Everyday Transaction¤ fees waived if monthly minimum balance¹ is $1,000 or more
Monthly package fee: $9.75
Everyday Transaction¤ fees waived if monthly minimum balance¹ is $1,500 or more
Maintain a minimum daily closing balance¹ of $1,500 throughout the entire month and you won’t pay a monthly package fee or Everyday Transaction¤ fees.
If you don’t make many transactions in a month, consider switching to a Pay as You Go Account, which offers no monthly fee.
Monthly package fee: $0
Everyday Transaction¤ fees waived if monthly minimum balance¹ is $1,000 or more
Monthly package fee: $0
(no change)
Everyday Transaction¤ fees will not be waived for maintaining a minimum monthly balance.
Everyday Online and Mobile Transactions¤ remain free.
This account has no minimum balance and is great for those with fewer transactions, since you only pay for what you use.
If you use your account more, moving to an E-Package Chequing Account may help you save with unlimited Everyday Transactions¤, free Interac e-Transfers®, and an option to avoid Everyday Transaction¤ fees by maintaining a minimum monthly balance¹.
Bank drafts/Official cheques²
CAD:
$6 for members
$8 for non-members
USD: $6
Other currencies: $7.75
CAD:
$9.95 for members
$20 for non-members
USD: $9.95
Other currencies: $9.95
Consider whether the recipient accepts other payment forms (e.g. credit card, Interac e-Transfer® (CAD only), or personal cheque).
Members with Access Chequing, or Seniors 55+ with Chequing Plus or Plan 24™ Savings Plus can order free official cheques (CAD) and USD drafts.
Stop payment
Online:
$5.75
In-branch:
$11.50
Online:
$10
In-branch:
$15
Set up your stop payment for cheques online (instead of in-branch) and save $5.
To avoid needing to issue a stop payment, verify the information on your cheque before you send it, and make sure you’ve communicated with the recipient and agreed upon the amount.
When possible, contact the recipient directly to cancel an uncashed cheque.
Safe deposit box
Annual fee:
$44.10 (s)
$56.70 (m)
$88.20 (l)
$152.25 (xl)
$244.65 (xxl)
GST is included.
Annual fee:
$55.10 (s)
$70.90 (m)
$110.25 (l)
$190.30 (xl)
$305.80 (xxl)
GST is included.
Consider whether a smaller box size might fit your storage needs.
Members with Access Chequing, or Seniors 55+ with Chequing Plus or Plan 24™ Savings Plus qualify for a $5 discount on all safe deposit boxes.
RRSP/RRIF/TFSA transfer to other financial institution
$25
$100
Consider discussing your transfer with us before you proceed to see if another option (that doesn’t involve transferring your account for this fee) might meet your needs.
Legal
®Interac e-Transfer is a registered trade-mark of Interac Corp. Used under license.
¤Everyday transactions are all of these:
Everyday Transaction fees are calculated and charged at month-end for Vancity’s chequing and savings products, with the exception of Jumpstart High Interest where the fees are incurred immediately when the transaction is made. Overdraft interest, not covered by a Creditline line of credit or a Personaline line of credit, accrues immediately and will be calculated and payable at month-end.
Additional Vancity and third-party fees will apply for services not classified as Everyday Transactions and, in certain circumstances, include fees for: a) ATM network fees if you use any Canadian ATM that is not an Exchange® ATM or ACCULINK® ATM. b) ATM network fees if you use a US/international ATM. c) INTERAC® e-Transfers that are subject to a fee. d) Fees for additional services that you choose from Vancity.
You may also be charged third-party fees including: e) A surcharge (convenience fee, and/or a foreign exchange conversion fee) by the ATM or POS operator and all associated networks engaged for the ATM or POS Transactions. f) Merchant fees when you use your debit card to pay for purchases. g) Fees charged by your mobile phone service provider; please request details from your service provider.
For a full list of fees, see the Personal Service Charge Bulletin.
¹ You must retain a minimum daily closing balance of $1,500 in Your Account for the full calendar month for Everyday Transaction fees and monthly package fee to be waived.
² Fees are applied in Canadian dollars.