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Why are bank fees so high?

Many Canadians are unhappy with bank fees in general, not just the fees for using another bank's cash machines highlighted by Finance Minister Jim Flaherty.

They think service charges are high and increasing all the time, despite the fact that many customers are adopting low-cost electronic banking.

They also feel they don't get a break from their banks for being long-time loyal customers.

"About 30 years ago, we had no fees," says Caroline Hubberstey, a spokeswoman for the Canadian Bankers Association.

"The cost of banking was covered off in the spread between loan rates and deposit rates. Borrowers paid for the banking activities of other clients.

"Today, we have lower spreads and we have a user-pay, transparent system."

Service fees from retail customers account for only about 5 per cent of bank revenues, according to a CBA publication.


Fitch Rates Virginia Public School Authority's $117MM 2007A Bonds ...

NEW YORK-(Business Wire)-April 5, 2007 - Fitch Ratings assigns an 'AA+' rating to $117.3 million Virginia Public School Authority (VPSA) school financing bonds (1997 resolution), series 2007A, expected to sell via competitive bids on April 11. Fitch also affirms the 'AA+' rating on $2.7 billion outstanding VPSA 1997 resolution bonds. The Rating Outlook is Stable.

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Free Secured Loans Advice and Quotes Now Offered by Any-Loans.co.uk

United Kingdom, UK (FV Newswire) - Any-Loans.co.uk, a UK-based financial site, is now offering free advice and quotes on secured loans.

Secured loans provide a great way to use the equity in your house to raise money for whatever legal purpose you require. Use the secured loan for debt consolidation, home improvements or to buy a new car. If you are looking for a secured loan then Any-Loans.co.uk will be able to guide you in the right direction.

Any-Loans.co.uk will simply look at your circumstances and then go away and source the most suitable loan from the UK's leading lenders. They will talk to a number of finance companies such as Loans co.uk, Norton Finance, Northern Rock, Ocean Finance and Capitalone. They will then get back to you with the best rates and products available.



 

 

 

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