$1.25 here, $1.75 there. Sometimes, bank fees can seem minimal enough, but the Financial Consumer Agency of Canada says the bigger picture on how much Canadians pay in bank fees might be more murky than it should be.
The agency said in a review, released Friday, that while many bank fees seem relatively small on an individual basis, they can add up over time, and in some cases, the full fee structure is embedded in a transaction, making it less visible to the consumer.
“Our banks are very well established and very solid, and they really are focused on their customers … We would really like them to play an active role in reducing fees and ensuring that consumers are well served by the banking community,” Shereen Benzvy Miller, FCAC commissioner, said in an interview….