5 things that really grind our gears about traditional banking

Nov 21 2019, 1:36 pm

Ahh, banking. It’s one of those things we don’t think too much about — until we need to. And if you’ve been with the same banking provider since your first job, that’s a good indicator of how little you’ve thought about who you bank with.

So, why switch up how you manage your money? Saving for a mortgage, applying for a loan, or simply the desire to pay less in fees can be enough of an incentive.

Now, imagine there was a way you could get something back simply for making the switch to a bank that aligns more with your vibe and empowers your community. That’s the reality over in Vancouver’s West End at G&F Financial Group, where you’re rewarded simply by becoming a member.

With the opportunity to make a change top of mind, here’s a look back at the things that bug everyone about traditional banking, and how a new bank can help you overcome them.

Dealing with e-Transfer fees

There’s not always time to hit up an ATM, and sometimes, you just don’t want to carry cash around with you for safety reasons. The ability to quickly send an e-Transfer solves all of these problems. But when you have to pay $1.50 or more per transfer, it puts a damper on the whole thing. Banking with G&F gives you free e-transfers, meaning you don’t have to spend money to send money.

Paying to withdraw cash at the ATM

Using ATM/Shutterstock

“This withdrawal is subject to a service charge of $3.00.” How many times have you seen this message pop up on an ATM and rolled your eyes? It’s no fun having to pay extra fees simply for withdrawing your own money from your account. G&F is part of the largest DingFree ATM network in Canada, so you don’t have to pay surcharges for using other participating ATMs across the country and here at home!

Rigid banking hours

These days, we’re all busy managing work, maintaining a social life, and perhaps working on our side hustle in our downtime. So there’s not always time to make it to the bank within the hours of nine to five. Let’s face it, banker’s hours don’t work for everyone. G&F combats this with a team of mortgage experts and financial planners who don’t do these hours either. Instead, they’re ready to meet you at your office or favourite coffee shop to discuss your financial goals.

The corporate control

Banking with a corporate giant can often make the overall financial experience feel more clinical and less personal. As a member-owned, member-focused credit union with more than 75 years of experience, G&F understands that everyone starts somewhere, and they’ve got the personalized tools to help you get to the next step. They also have the resources and advisors to help anyone new to Canada get set up with banking — and thrive.

Fewer membership perks

A common complaint many people have with their bank is that there very few actual benefits of having a membership. At G&F, you can receive $200 for opening an account at the West End branch, as well a $50 welcome gift. Already a member? Visit your nearest branch for a Smart Money Plan by December 13 and get a free $20 Starbucks gift card. It’s simple.

Working with a credit union has perks over The Big Five. For example, every credit union in BC is fully insured with deposits 100% guaranteed by the Credit Union Deposit Insurance Corporation of BC. Plus, because credit unions like G&F have less overhead, they can often offer better rates and lower fees. Plus, because they’re member-owned, your bottom line is their bottom line, too.

Feeling inspired to make a transition for your banking? G&F has 16 branches and offers banking on-the-go with an easy-to-use mobile app and LiveChat.

For more information and to become a member, visit G&F Financial Group now.