Big Bank Fee Extraction
$250-$360/year
Canada's Big 6 banks charge monthly fees while paying 0.05% interest on savings. You're paying them to hold your money.
The real cost
$8,000-$15,000 over adult lifetime
How to not get wrecked
- 1Switch to no-fee online banks
- 2Maintain minimum balances for waivers
- 3Negotiate fee waivers annually
- 4Track and challenge inappropriate charges
Related money drains
#12
Overdraft Trap
$45-$48 per NSF transaction
NSF fees of $45–$48 per transaction can trigger daily. Being broke costs extra.
#13
ATM Fees: Death by a Thousand Cuts
$4.77 per transaction
Out-of-network ATM fees average $4.77. A $20 withdrawal can cost $24.77.
#14
Cross-Border Fee Ambush
3.5-5.5% hidden tax
Foreign transaction and conversion fees add 3.5–5.5% to every US purchase.
Track your spending and plug these drains with Prosperi.