canada

So Canada Post launched a really shitty faux-postal banking services?

So Canada Post launched a really shitty faux-postal banking services?

https://www.canadapost-postescanada.ca/cpc/en/personal/canada-post-mymoney-account.page

writing stuff about tech + decentralization over on blog.thumbsup.me

Basically a rebranded Koho account with high fees. What’s the point? Credit union is the only thing that would have made any sense.

There's the same no fee option, right?

I hope the point is that they don't discriminate against customers.

My credit union charges more and gives worse interest rates than Koho. 🤷‍♂️

(That said, the branch manager was willing to go to bat for me when I had special requests.)

A doodler and computerer. I like permissive/permissionless open source, smart contracts, p2p systems, room-scale VR, and NixOS.

shazow.net

Currently: WhatsABI

I’ve had good experiences with credit unions, but I am currently using EQ as my daily driver. The no fee card, no fx fees, free e-transfers, interest and cash back is just too good to resist. Plus in Quebec all we have is Desjardins and I’m not a particularly big fan of how they approach cooperative banking.

I fully agree with that statement which is why I use EQ. It’s one account. A “money market” if you will. There is a preloadable visa debit but they consider them the same account with the same features so it functions just as security against having all your money on the credit card. It has transferwise built in, with auto deposit I get 3.5% interest, 0.5% cashback, and no atm fees. I just personally keep a tangerine account for when I need an Interac debit card (since some shops won’t accept the prepay Mastercard). All in all, no fees, access to all abms, all the same features as this. Maybe though, I would consider closing my tangerine and opening a “Canada Post” account if the card was a proper Interac debit, but it’s like my EQ, a prepaid Mastercard, which means it won’t work at certain places who refuse to pay the fees.

MeridianCU started charging a minimum of $3/mo now, and still doesn't offer any interest on checking accounts (and inferior rates on savings).

$3/mo is a $1200 average balance over a year at 3%, I'd rather not have to juggle between checking and savings and get a decent interest rate. I lose far more than that from the juggling.