Changes to products and service fees

Effective September 1, 2018 1

We periodically review our products and services and have made changes to ensure that we continue to provide a great experience to our members, invest in new services, and support our communities. We’ve highlighted some of the products and service fees that are changing on September 1, 2018 (unless indicated otherwise).

We're happy to help you find ways to avoid or reduce fees, and where possible we've listed some helpful tips for you. If you need something explained or would like to find out more, just contact us.

RESP Administration Fee

No fee

The administration fee for Registered Education Savings Plan accounts has been eliminated (previously $25 annually).

A helpful tip.

RESPs enable you to grow income on a tax-deferred basis for your child’s future, along with the opportunity to collect government grants to help reach your education savings goals.

Dormant Accounts (Effective January 1, 2019)

$35 annual fee

The administration fee for dormant accounts will change from a monthly fee to an annual fee. Accounts with no activity for two years are considered dormant.

A helpful tip.

It's easy to reactivate your account and avoid dormancy fees. Simply sign on to Coast Online® Banking or Coast Mobile® Banking, call us toll-free at 1.888.517.7000 or visit any of our branches and conduct a transaction.

The High-interest Savings Account

$5.00/additional transactions2
Free, unlimited self-serve transfers3

This account now includes only 2 free debit transactions every month; additional transactions will incur fees of $5.00 each. We have made all self-serve transfers between Coast Capital Savings accounts free.

A helpful tip.

If you make frequent transactions, get unlimited day-to-day banking transactions with The Free Chequing, Free Debit and More Account.®

The Business High-interest Savings Account

$5.00/additional transactions4
Free, unlimited self-serve transfers3
Additional interest tiers at $1 million to $4,999,999 and $5 Million+

There is no change to the number of free debit transactions on this account; there are still 2 free every month. Additional transactions will now incur fees of $5.00 each. We have made all self-serve transfers between Coast Capital Savings accounts free, and introduced two additional interest rate tiers.

A helpful tip.

Depending on how many debit transactions you make, the Deposit-for-Free Business Account or The One Small Fee, the Rest is Free Account® may better suit your needs.


Have some more questions?

You can contact us for some help.

  1. Operation of an account or use of any services after the effective date of change will be deemed to be acceptance of all changes to fees, products and services.
  2. Transactions include Coast Capital Savings® and THE EXCHANGE® Network ATM withdrawals, Interac Direct Payment, preauthorized payments, in-branch bill payments, in-branch transfers, and in-branch withdrawals.
  3. Unlimited self-serve transfers through Coast-by-Phone®, Coast Online® Banking and Coast Mobile Banking® are now included free of charge.
  4. Additional transactions include those in Note 2 as well as automatic transfers to cover payments.
 

For information on changes to deposit insurance and the transition period if we become a federal credit union, see the notice pursuant to the Disclosure on Continuance Regulations (Federal Credit Unions).