за Hullboy

[camedia]

http://www.canada.com/montrealgazette/s ... a709613945

Специално за момъка от Hull да се запознае с таксите на канадските банки, които spored nego едва ли не граничели към нула.[/list][/code]

[hullboy]

Zdr.camedia

таксите на канадските банки, които spored nego едва ли не граничели към нула

Hullboy nikoga ne e kazval che taksite na bankite granicheli kam nula, a che moze da se ibjagnat ako
izpalnis opredeleni uslovja

Parvo tozi link ne raboti.

Vtoro badi konkreten za koi taksi govoris.
Bankite imat mnogo razlichni vidove taksi.

za personal account ( chequing saving ) , za biznes account , za corporation account

Moze da objasnis s dumi ako ne raboti tozi link.

Hullboy

[camedia]

Suit sheds light on obscure bank fee
Currency conversions in registered accounts subject of class action

PAUL DELEAN, The Gazette
Published: Monday, August 21, 2006
Canadian banks are on a roll. Too bad their customers so often are the rollees.
From countless service fees to minuscule interest payouts on cash balances, banks constantly find ways to nickel and dime consumers.
A class-action suit filed in Ontario this month is shedding light on one of their more obscure money-makers: currency conversions in registered accounts.
The way it works now with most RRSP, Registered Retirement Income Fund and Registered Education Savings Plan accounts, any time a stock is sold or dividends or interest are received in foreign currency, the proceeds are automatically converted into Canadian dollars. At a cost to the planholder, of course, over and above any commission due.
The institution's cut on currency transactions typically ranges from one to four per cent. If the amounts in question are sizeable - as they often are in investment accounts - so is the profit.
While it used to be a government requirement that institutions switch foreign funds into Canadian currency in registered accounts, that hasn't been the case since 2001. Foreign currency is now permitted.
Unfortunately, most financial institutions are still operating under the old system, claiming it's not workable to have foreign funds in a registered account.
Presumably, even an investor who had nothing but U.S. stocks in his or her RRSP (which is permissible now with the lifting of foreign-content rules) would be subject to currency conversions every time U.S. dollars were processed in the account.
Jim MacDonald, a resident of Stouffville, Ont., thinks investors have been getting shafted, and he wants it to stop.
He's the lead plaintiff in a class-action suit filed in Ontario Superior Court against the Bank of Montreal, BMO Nesbitt Burns and BMO Trust Co. on behalf of individuals who held RRSP, RRIF or RESP accounts with the institutions and had "undisclosed" foreign-currency conversion charges in their accounts after the law changed in June of 2001.
In the statement of claim, it's alleged the institutions systematically made conversions without instructions from the customers, "and without there being any need to do so," primarily to continue raking in "hundreds of millions of dollars" in foreign-exchange fees.
The court document cites a case where MacDonald bought 500 shares of Tyco International at $14.89 U.S. in his RRSP in March of 2003, paying $1.502 per U.S. dollar. The stock was sold two months later for $16.04 U.S., but after the proceeds were converted back into Canadian dollars at an exchange rate of $1.381, he wound up losing $367 on the deal.
"The foreign-exchange fee is not and has never been disclosed to MacDonald and other class members," the suit states.
"Instead, the transaction confirmation forms and other account statements delivered to them ... disclose a 'conversion rate' comprised of the total rate charged to them."
The suit further alleges that each time the foreign-exchange fee was charged, it depleted the funds in customers' retirement or education plans.

BMO, trotting out the familiar "we don't comment on matters before the courts" response, declined to explain, justify or even confirm its foreign-currency practices.

But clearly it's not the only institution that's been mining this vein.

Looking through monthly statements from two non-BMO brokerages where I've had RRSPs, the procedures on foreign currency are remarkably similar and lacking in transparency.

If a U.S. dividend comes in, it gets converted first into Canadian dollars, then back to U.S. dollars to purchase another U.S. share if part of a dividend reinvestment plan. Instead of one currency conversion, there are two, with the brokerage presumably taking a cut for itself each time (though that fee is not indicated). The exchange rate is listed for U.S.stock purchases, but not for dividend payments or reinvestment. You have to figure it out yourself working from the total in Canadian dollars.

Only in the very fine print of material handed out when I opened the latest account was there any mention of currency transactions. It said the institution or related companies will set the rate of exchange and "may earn revenue in addition to applicable bid and ask rates for the currency." It also said rates could change depending on "gross trade value."

In 2003, TD Waterhouse Investor Services defended itself in a class-action suit by saying clients know financial institutions make money on currency transactions, so it didn't need to disclose it.
Three years later, the general level of disclosure doesn't appear to be a whole lot farther along.

[hullboy]

Zdr.camedia

Tova koeto si go pusnal e parvo star material ot predi 10 dni go imase v Globe and Mail.
Misleh da go pusna togava zastoto e svarzano s RRSP no ne go napravih umisleno.

Poneze ne chetes vnimateno se varni i procheti che stava duma za RRSP a Hullboy vinagi e bil protiv RRSP za tova misleh i da go pusna predi 10 dni.

Eto che sam stigna do izvoda zasto sam protiv RRSP i posochi edna ot serioznite moi prichini.

Obmjanata ot edna valuta v druga ne e taksa i tova e posledstvie ot glupostta i nevezestvoto na horata che sa izbrali da investirat svoeto RRSP v aktsii na svetovni kompanii na koito pak aktsiite se kotirat v USD. Za sazelenie na mnogo Canadski kompanii koito sa dobri i izvestni koito sa listvani na svetovnite borsi tsenite na aktsiite sa sasto v USD.

Horata koito investirat v RRSP sa mogli da izberat mezdu selfadministrated RRSP ( sami da izberat v kakvo da investirat ) ili drug drug da investira vmesto tjah ( spetsialist na finansovata institutsia ) i poneze povecheto hora sa gadulki kato stava vapros za investment se doverjavat na spetsialisti koito pak investirat kadeto namerjat za dobre bez ogled v kakva valuta.
Moze choveka sam da e izbral da investira v IBM, MIcrosoft no e zabravil che te sa kotirani v USD.
Nikoi ne mu e kriv za tova. Za da gi kupis tezi aktssi naistina se plasta v USD, kato ti platjat devident ili gi prodades pak e v USD.
Kogato si dal parite za depozit v RRSP si dal CAD.
Ne si posochil kade da se investirat, ne si kazal izrichno samo v Canadski kompanii kotirani v CAD i horata ot bankata gi investirat kadeto namerjat za dobre.
Za da gi kupjat tezi aktsii sa platili v USD, kogato si iskas parite ti gi plastat v CAD ( taka si gi dal kogato si gi depoziral )

Drug e vaprosa kade bankata e smenila tezi pari, nai verojatno pri sebe si, bi mogla da ide na drugo mjasto i da poluchi po dobar kurs no bankata njama takova zadalzenie.( sled deloto moze i da ime veche takova zadalzenie )

Ima i drug moment horata sega se zalvat zastoto kursa na USD e padnal sprjamo CAD

MacDonald bought 500 shares of Tyco International at $14.89 U.S. in his RRSP in March of 2003, paying $1.502 per U.S. dollar. The stock was sold two months later for $16.04 U.S., but after the proceeds were converted back into Canadian dollars at an exchange rate of $1.381

Ako bese satanalo obratnoto da moze da se prodade 1 USD za 1.630 primerno stese da potriva dovolno s ratse i da se radva. V takiva momenti nikoi ne se oplakva a takiva momenti e imalo mngokratno kogato kursa se meni v polozitelna za klienta posoka.
Takav e riska pri investitsia v chuzda valuta, moze da se promeni kursa kakto polozitelno taka i otritsatelno

Nabludavai tova delo i ste vidis che koi znae kakvo njama da stane, osven eventualno da varnat malko pari na klientite kato argumenta ste e che ne sa obarnali valutite na nai dobria vazmozen kurs. No v kraina smetka tova e izbora na klienta da dade prava na bankata i da ne kaze izrichno che ne iska investment vav chuzda valuta. Dori da bese investiral sam v chuzdi kompanii pak trjbvase da smenjava ot edna valuta v druga za da kupi aktsii v USD

Postinga ti s nisto ne pomaga za da dokazes che Canadskite banki vzimat nerazumni taksi. Naprotiv zad vsjaka taksa ima logika kojato ne vseki ima poznanjata za da si ja objasni.

Hullboy

[VanBC]

Линка имаше една излишна точка. Сега вече работи.

[bgmontreal]

Ne si posochil kade da se investirat, ne si kazal izrichno samo v Canadski kompanii kotirani v CAD i horata ot bankata gi investirat kadeto namerjat za dobre.

Hullboy

[hullboy]

Zdr. BgMontreal

Vmesto da se uchudvas pomisli za nova dopalnitelna usluga kojato bi mogal da predlagas na klientite ti kato platena konsultatsia
“ Kak da upravljavame sami RRSP “

Klientite moze i nikoga da ne go napravjat no zasto da ne doidat na konsultatsia. Az bih otisal na takava konsultatsia i bih platil razumna tsena ako ne razbiram.

Az ako se zanimavah s RRSP bih predlagal takava usluga osven da sabiram RRSP i da go predavam na finansova institutsia.

Kakto vizdas ima pazarna nisha, zatova e i tsjalata istoria i deloto koeto e zavedeno

Hullboy

[camedia]

Hullboy отвори си малко очите.

Bank profits in Canada demand action

Published: Wednesday, August 23, 2006
Aerospace, forestry, mining and other Canadian industries have all registered extravagant booms and catastrophic lows over the years. But one phrase has remained constant in the business news: "Record bank profits."

So yesterday's announcement by the Bank of Montreal might seem oddly familiar. The institution hauled in $710 million in net profits over the last three months, or $7.7 million per day, or $321,557 each hour, 24/7.

This latest record even tops - by a lot - the best estimates of cheerleading analysts. Canada's other chartered banks will also report third-quarter results this week, and most are expected to be as alluring as BMO's. Not bad for an industry that was crying only a few years ago that it was doomed unless Ottawa allowed more bank mergers.

An analyst said one reason banks are minting money these days is that "corporations have more cash than they have opportunities" - they're tripping over themselves to acquire other firms, and as it happens, banks provide a full line of merger-and-acquisition services.

A vibrant, healthy and prosperous banking system is in our collective interest, obviously. Many Canadians own bank stock, through mutual funds or pension funds or directly.

But wouldn't it be nice if once - just once - families, or small businesses, had more cash than opportunities? If, say, the banks cut back on the multitude of fees and charges they impose on consumers?

As The Gazette's Paul Delean disclosed this week, the lengths to which banks go to squeeze every last penny from Canadians, usually involving highly obscure tactics, are provoking a push-back reaction.

The latest, he noted, comes in the form of a consumer class-action suit in Ontario to nullify banks' gains on foreign-currency transactions for registered accounts.

There are literally dozens of fees, from $100 to close your account to overdraft charges to ATM fees. These are the same people who charge you 19 per cent on your credit card, but pay you one or two per cent on your savings.
Maura Drew-Lytle, speaking for the Canadian Bankers' Association, argues that retail service fees account for "barely" five per cent of Canadian banks' revenues. But considering that the Bank of Montreal alone had revenues of $2.6 billion for the latest three months, five per cent starts to loom large as an aggregate number.

What this sector needs, and urgently, is more competition. There are about 60 banks in Canada, but most Canadians deal with one of just seven major banks.

In the U.S., there are 8,790 banks. On a per-capita basis, then, Americans have 15 times as many banks to choose from than we do - and many of them are local and regional banks, which tend to be close to their consumers and far more competitive than the Canadian behemoths.

The federal government has the power to open the field to more competition, and should use that power.

Profits are a good thing, not a bad thing. But the steady increase of profits by almost every player in a mature industry suggests the balance between banks and their consumers needs a little tweaking.

© The Gazette (Montreal) 2006

[hullboy]

Zdr.

Kakav ti e problema ne razbiram. Ot tsjalata statia se razbira che bankite imali goljam profit, kakvo ot tova po dobre li e da gubjat pari i tvoite pari da sa v takava banka?

Sefkata na asotsiatsiata na bankite ti kazva che dohoda ot fee ( taksi ) e samo 5 % ot vsichki dohodi, nesto koeto Hullboy spomena mnogo otdavna che bankite pravjat pari ot drugo a ne ot taksi.

Edinstvenoto koeto se kazva za fee e slednoto

There are literally dozens of fees, from $100 to close your account to overdraft charges to ATM fees.

100 $ za zatvarjane na account e izmislitsa na zurnalisti razbirasti ot banki koloto magare ot rakia.

Normalno e da ima fee za overdraft, tova sa pari na zaem, te ne sa tvoi, moze i da ne gi polzvas ako ne iskas.
ATM fee e normalno da ima tazi mashina struva pari da se kupi i da se podarza.

Otvori si smetka v USA ako ti haresva poveche.

Hullboy

[filipne]

Ами аз като човек не-икономист искам да запитам :

След като таксите са само 5% от печалбите на банките, защо те. банките не се откажат от тях - почти нищо няма да загубят.Ако не ги отменят, могат да ги намалят значително ( наполовина, например )

[hullboy]

Zdr.

Pitai sefkata na asotsiatsiata na bankite v Canada, mislish li che tuk njakoi moze da ti otgovori tochno i pravilno zasto bankite ne biha se otkazali ot tezi 5 % dohod ot taksi.

Maura Drew-Lytle, speaking for the Canadian Bankers' Association, -daze imeto i imas tuk

Habis si samo klaviaturata da pitas tuk.

Hullboy