Canada: Banks fuck us over once again - GoFuckYourself.com

SilentKnight · 10-08-2008, 05:06 PM

So the Bank of Canada announced today a .5% reduction in their lending rates.

And what do the other banks in Canada do as a result?

They offer customers .25% of the reduction and keep the other .25% for their own pockets.

Gee, why do we collectively loathe bankers so badly?

BlackCrayon · 10-08-2008, 05:07 PM

Not surprising. It always pissed me off that they kept a % of the exchange on USD too.

Mutt · 10-08-2008, 05:27 PM

i hate the banks so much - what's a good alternate way to convert US dollars to CDN without the bank stealing so much? half the time i just leave big amounts of US dollars in my account because I hate letting them take their cut for doing very little.

SilentKnight · 10-10-2008, 06:33 PM

Quote:

Originally Posted by Mutt

i hate the banks so much - what's a good alternate way to convert US dollars to CDN without the bank stealing so much? half the time i just leave big amounts of US dollars in my account because I hate letting them take their cut for doing very little.

Well, since we live on a bordertown (Niagara)...we sometimes try and spend some of the USD across the river. But its rather a crap shoot dependin' on what merch deals we get.

The banks fuck us over 'cuz they know most people don't have a lot of options.

bhutocracy · 10-10-2008, 07:05 PM

Well the cost of lending has gone up.. what do you expect them to do? If bandwidth, camera gear, models fees shot up etc you wouldn't pass on a portion of the rise to your customers or affiliates? Good on them for taking part of it. You'd REALLY be crying if they didn't and went insovlent with ALL your money.

Hazlewood · 10-10-2008, 07:10 PM

TD is ripping me off huge with the exchange...when it was 9 cents they only gave me 2

Spunky · 10-10-2008, 07:11 PM

I hate the fact they charge me an extra 1.50 per transaction to take out my money at a atm.bloody thieves

directfiesta · 10-10-2008, 07:12 PM

Quote:

Originally Posted by SilentKnight

So the Bank of Canada announced today a .5% reduction in their lending rates.

And what do the other banks in Canada do as a result?

They offer customers .25% of the reduction and keep the other .25% for their own pockets.

Gee, why do we collectively loathe bankers so badly?

That is why our banks do not need a bailout/rescue package .

psbfo · 10-10-2008, 07:24 PM

Last I checked, Canadian banks were almost as profitable as the oil companies.

BlackCrayon · 10-10-2008, 07:28 PM

Quote:

Originally Posted by bhutocracy

Well the cost of lending has gone up.. what do you expect them to do? If bandwidth, camera gear, models fees shot up etc you wouldn't pass on a portion of the rise to your customers or affiliates? Good on them for taking part of it. You'd REALLY be crying if they didn't and went insovlent with ALL your money.

There are places that will exchange USD for a slightly higher rate than the banks. I've never used them personally but they are out there.

WiredGuy · 10-10-2008, 08:16 PM

Quote:

Originally Posted by BlackCrayon

There are places that will exchange USD for a slightly higher rate than the banks. I've never used them personally but they are out there.

I use CustomsHouse. They guarantee they'll beat my bank rate.
WG

Mutt · 10-10-2008, 08:25 PM

Quote:

Originally Posted by psbfo

Last I checked, Canadian banks were almost as profitable as the oil companies.

probably more profitable and twice as shady

Sausage · 10-10-2008, 08:42 PM

Sounds like Aussie banks.

Oh and gotta love that 22.5% interest rate on some credit cards here now too ..

dready · 10-10-2008, 08:50 PM

Thieves.

amateurcanada · 10-10-2008, 10:31 PM

Quote:

Originally Posted by directfiesta

That is why our banks do not need a bailout/rescue package .

LOL too funny.

SilentKnight · 10-11-2008, 06:23 AM

Quote:

Originally Posted by bhutocracy

Well the cost of lending has gone up.. what do you expect them to do? If bandwidth, camera gear, models fees shot up etc you wouldn't pass on a portion of the rise to your customers or affiliates? Good on them for taking part of it. You'd REALLY be crying if they didn't and went insovlent with ALL your money.

Its not a matter of insolvency. Banks in Canada aren't in trouble the way their U.S. counterparts are. Banks here are still posting big profits across the board...and have been for years.

As for whether I'd pass along increased model/gear costs to our customers - no, not if we're already making a tidy profit. We typically go several years between membership increases. We keep our profit margin steady by either cutting costs elsewhere, or diversifying in other areas (photo cdrom sales, convention sales, etc.).

BlackCrayon · 10-11-2008, 08:11 AM

Quote:

Originally Posted by SilentKnight

Its not a matter of insolvency. Banks in Canada aren't in trouble the way their U.S. counterparts are. Banks here are still posting big profits across the board...and have been for years.

As for whether I'd pass along increased model/gear costs to our customers - no, not if we're already making a tidy profit. We typically go several years between membership increases. We keep our profit margin steady by either cutting costs elsewhere, or diversifying in other areas (photo cdrom sales, convention sales, etc.).

It was announced yesterday that the canadian government is going to be buying 25 billion worth of bad mortgages from the banks. I really didn't think that would happen here. Pretty worrysome.

yys · 10-11-2008, 08:21 AM

Quote:

Originally Posted by BlackCrayon

It was announced yesterday that the canadian government is going to be buying 25 billion worth of bad mortgages from the banks. I really didn't think that would happen here. Pretty worrysome.

They aren't bad mortgages and the transaction is in no way the same as whats happening in other countries.

JFK · 10-11-2008, 08:35 AM

Quote:

Originally Posted by WiredGuy

I use CustomsHouse. They guarantee they'll beat my bank rate.
WG

what are u getting ? got about 1.15 from Can T yesterday

Ash1 · 10-11-2008, 08:46 AM

what is ur bank giving you for your exchange..

the best exchange rate from USD to CAD i cud get was 1.1625

anyone else?

Kick Ass Chat · 10-11-2008, 09:40 AM

Interresting reading.

10-08-2008, 05:06 PM	#1
SilentKnight Megan Fox's fluffer Industry Role: Join Date: Oct 2005 Location: shooting pool in Elysium Posts: 24,818	Canada: Banks fuck us over once again So the Bank of Canada announced today a .5% reduction in their lending rates. And what do the other banks in Canada do as a result? They offer customers .25% of the reduction and keep the other .25% for their own pockets. Gee, why do we collectively loathe bankers so badly?

10-08-2008, 05:07 PM	#2
BlackCrayon Too lazy to set a custom title Join Date: Jun 2003 Location: Ottawa Posts: 19,631	Not surprising. It always pissed me off that they kept a % of the exchange on USD too. __________________ you don't know you're wearing a leash if you sit by the peg all day..

10-08-2008, 05:27 PM	#3
Mutt Too lazy to set a custom title Industry Role: Join Date: Sep 2002 Posts: 34,431	i hate the banks so much - what's a good alternate way to convert US dollars to CDN without the bank stealing so much? half the time i just leave big amounts of US dollars in my account because I hate letting them take their cut for doing very little. __________________ I moved my sites to Vacares Hosting. I've saved money, my hair is thicker, lost some weight too! Thanks Sly!

10-10-2008, 07:10 PM	#6
Hazlewood Confirmed User Join Date: Sep 2006 Location: Toronto Posts: 1,555	TD is ripping me off huge with the exchange...when it was 9 cents they only gave me 2 __________________ Skype: hazegsm

10-10-2008, 07:11 PM	#7
Spunky I need a beer Industry Role: Join Date: Jun 2002 Location: ♠ Toiletville ♠ Posts: 133,940	I hate the fact they charge me an extra 1.50 per transaction to take out my money at a atm.bloody thieves __________________ *YOUR INFORMATION HERE*

10-10-2008, 07:05 PM	#5
bhutocracy Not making A Comeback Industry Role: Join Date: Dec 2001 Posts: 10,218	Well the cost of lending has gone up.. what do you expect them to do? If bandwidth, camera gear, models fees shot up etc you wouldn't pass on a portion of the rise to your customers or affiliates? Good on them for taking part of it. You'd REALLY be crying if they didn't and went insovlent with ALL your money.

10-10-2008, 07:24 PM	#9
psbfo Confirmed User Join Date: Mar 2006 Posts: 181	Last I checked, Canadian banks were almost as profitable as the oil companies.

10-10-2008, 08:42 PM	#13
Sausage Confirmed User Join Date: Oct 2002 Location: Australia Posts: 3,012	Sounds like Aussie banks. Oh and gotta love that 22.5% interest rate on some credit cards here now too .. __________________ IW Skype : blance8888 Icq : 15567120

10-10-2008, 08:50 PM	#14
dready Confirmed User Industry Role: Join Date: Oct 2002 Location: Toronto, ON Posts: 5,247	Thieves. __________________ ICQ: 91139591

10-11-2008, 08:46 AM	#20
Ash1 So Fucking Banned Join Date: Sep 2004 Location: dubai Posts: 3,062	what is ur bank giving you for your exchange.. the best exchange rate from USD to CAD i cud get was 1.1625 anyone else?

10-11-2008, 09:40 AM	#21
Kick Ass Chat Confirmed User Join Date: Dec 2002 Posts: 2,057	Interresting reading. __________________ [email protected]