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Email this4:00 pm
February 17, 2013
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Services chart says they have one but I can't find anything on their site about chequing account offerings.
4:07 pm
October 21, 2013
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There is no chequing account but you can write cheques on your savings account.
https://www.outlookfinancial.com/services/withdraw-money/cheque
One free cheque or Interac per month.
You probably have to pay for the chques, which come from Davis and Henderson.
4:15 pm
February 17, 2013
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Thanx...I missed that. I don't really think 1 check per month an actual checking account. Was considering them for RSP/RIF's but that 1 debit per month deal took the shine off.
4:34 pm
October 21, 2013
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You CAN write more cheques but they charge a dollar each to process. no bargain there.
9:37 pm
February 17, 2013
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Not ideal to use for paying bills, ATM's, EFT's...ie day to day banking. If I'm going to be using the proceeds of my RSP/RIF to live on, don't want to be dinged on every transaction. I believe it says one debit per month, it's cheque, atm, EFT...whatever. The only thing I find appealing @ Outlook is the cashable GICs. not sure that feature is enough to make it worth the restrictions.
12:44 am
October 21, 2013
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I agree; cashability is the only plus as far as I can see, but you pay a penalty for doing so. Might be useful for true "emergency" funds to cover things you can't plan for. You only get the interest reduced on the portion that you withdraw. It is reduced to 1%, for all terms.
If may be an alternative to a line of credit for people who do have money but it's locked up.
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