Friday, April 28, 2006

Bank Charges

Here is a good news story for banking customers for once; CIBC to refund $27M to clients who were overcharged

However one has to ask why we pay service charges period.

Especially when this happens;
Citing more than 1,000 mistakes a day in preauthorized bank debits across Canada, a coalition of consumers' groups is calling on Ottawa for consumer protection legislation on electronic payments.

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