Financial Channel

I have 3 with RBC (personal, business and U.S.), one with ING and now one with PC. I'm just curious as to whether this can in any way have a negative impact on your credit or anything like that (Although I can't see how)? So what about everyone else...how many do you have?

Regular bank accounts are not registered on your credit report, so the answer would be no.

We are with PC too, been happy so far, it's been 7 years

Cool! I would like to close my Royal personal account but I need to be able to transfer between my personal and business account so I guess it'll stay for a while Thanks for the info!

i have 3 account with PCF, 1 account with RBC, 3 with BMO, 3 with TD, 1 with ING. Used to have CIBC too but I closed it.

edit: opps.. i have 2 with RBC.. forget to count the US chequing one

You have that many bank accounts?
Ever thought about having less bank accounts and investing the excess cash?
Even money market funds do better than bank interests.

I know I sound like a banker, because I work for one.
And it makes sense, as some accounts charge you account plan fees.

i only have 3 accounts and already i'm losing track of my money. i wish there's one bank that does it all. TD for conveniece, PCF for no fees, and ING for higher interest rate.

I have 3 as well, 1 at TD for service (I've been with them forever), 1 at BMO for no fees and no min balance (I'm a student so it's free banking) and 1 at ING for Savings.

But i agree, sometimes it's confusing when you have money all over the place.

I'm getting 4.10% interest through Achieva/Outlook. Which MMF can do better than that with the same convenience as a savings account?

As for bank accounts, I have PCF, ING, Citizen's Bank, Royal Bank (not actively used), Achieva, and Outlook. To keep track of things, I use Globe Fund's portfolio tracker. I know precisely at any given time how much assets I have.

2 accounts. Chequings and Savings with PCF

I use to have multiple accounts, but then I figure, why am I keep minimum balances in all of these when I could consolidate them and put the leftover into something earning better interest? And that's what I did, I moved them into one and used the excess for ING Direct.

I took all my money and put it into my TD line of credit. I use this line of credit as my bank account. And thus I pay no fees whatsoever, not even for interac transactions or anything. I don't get the interest of a savings account, but who cares - I don't have thousands of dollars in teh account, the little interest I'm losing doesn't matter.

I also have PC financial account taht I never use, and that's connected to a PC line of credit that sits there in case of emergency. I do a transaction every 5 months to keep it active.

I've got 3. My TD account from last year's iPod promotion, an ING Savings account and a HSBC Savings account. I want to switch my TD account to PCF soon so that I can move most of my money into ING/HSBC to get more interest. With TD, I have to keep my balance above $1000 so I can't move much money to savings accounts.

I've had accounts with almost all of the major banks, and have ended up at BMO becuase their service was better than the rest. I liked PC until they screwed me over, Royal was a constant pain in the ass, Scotia was ok, CIBC was ok too.

Just curious...how did pc screw you over? I just opened an account there so I'm wondering

I'm curious too. I've had my kids savings accounts with PCF since they were born (2 and 3 years ago) and switched my own chequing account over to them last year. I just -- literally 2 days ago -- got a mortgage from them so to hear about someone unhappy with their service really piqued my interest.