What makes for a satisfied Canadian banking customer? According to The Canadian Retail Banking Customer Satisfaction Study, no-fee banking tops the list. The survey, now in its ninth year, was released this week by JD Power and Associates. In it, customers were asked to rank their level of satisfaction with their lender.
We get more bills for running our homes than ever before. Ten or twenty years ago, we didn’t have such complex cable bills, had no Internet or cell charges at all. Now, we’re all tied up to a myriad of monthly charges. And many of them are quite high. Energy is pricey these days. Cable? Brutal. Property taxes have soared and insurance rates are insane. Here are my tips for staying on top of home expenses.
The popularity of no fee accounts is growing. ING launched its no fee chequing account early this year. Ally did a big advertising push with TV ads featuring savings accounts that offer some of the best interest rates and PC Financial continues to push ahead featuring no-fee banking to Canadians.
The phrase “The rich get richer, while the poor get poorer,” has never been truer for Canada. A report by the Organization for Economic Co-operation and Development finds, the gap between Canada’s richest and poorest people is widening. The survey conducted in 2008 found, the top 10 per cent of Canadians earned 10 times as much as the bottom 10 per cent. This 10-1 ratio is above the OECD average of 9-1. The U.S ratio is 14-1. In Germany, Denmark and Sweden the ratio is 6-1. In my opinion if this survey were conducted today, the gap between rich and poor would be even wider. Here’s why I think that way.