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The Coast Chequing Prestige Account is a comprehensive banking solution offering many features and advantages for customers. This account makes everyday banking simple, affordable, and convenient for its members.
The Coast Chequing Prestige Account offers affordable, comprehensive banking with unlimited transactions for a $21 monthly fee. This fee can be waived if you maintain a balance of no less than $5,000.
But the account offers features such as free bank drafts and access to over 4000 ATMs across Canada. Unique benefits include a member-owned structure and a versatile mobile banking app.
Below, we examine the intricacies of this chequing account, including fees, pros, cons, and more. Let’s dive straight in.
Features of the Coast Chequing Prestige Account
The Coast Chequing Prestige Account is packed with an array of features:
- $21 monthly fee ($10.50 for members aged 59 or older)
- Unlimited transactions
- Free personalized Canadian cheque orders (single or duplicate)
- 8 free non-Coast Capital Savings ATM withdrawals in Canada and abroad
- Free Canadian and International bank drafts
- Free eStatements or paper statements
- $15 safety deposit box annual discount
- You won’t incur a monthly account fee if you ensure you monthly balance remains at no less than $5,000
The pros of the Coast Chequing Prestige Account
Unlimited Transactions
This chequing account offers unlimited day-to-day transactions. This feature provides excellent flexibility for account holders who frequently make transactions, eliminating the worry about exceeding a transaction limit.
Extensive ATM Network
With over 4000+ ding-free® ATMs across Canada, account holders can easily access their funds without being hit with ATM fees. This particularly benefits those who travel often or live in multiple locations.
Convenient Mobile Banking
The Coast Mobile® Banking app allows users to perform most smartphone transactions. This includes transfers, bill payments, cheque deposits, and more. In fact, it’s an incredible tool that enables convenience and the ability to bank on the go.
Member-Owned Structure
One of the most significant advantages of the Coast Chequing Prestige Account is that Coast Capital is a financial cooperative. This means every customer is a member and an owner, giving them a voice in the company’s direction.
Versatile Mobile Banking App
Another pro of this chequing account is the comprehensive functionality of the Coast Mobile Banking App. This app is designed to make banking easy and convenient for members. And it enables them to perform almost any transaction from their smartphone.
The cons of the Coast Chequing Prestige Account
Monthly Fee
Despite its numerous benefits, this chequing account does come with a $21 monthly fee. Although this fee is relatively low compared to other premium accounts, it can still deter some potential users.
e-Transfer Fees
While receiving e-Transfers is free, sending an INTERAC® e-Transfer costs $1.50 each. This fee might be a disadvantage for users who frequently send e-Transfers.
Coast Chequing Prestige Account fees
The Coast Chequing Prestige Account comes with a comprehensive fee structure:
- Monthly Fee: $21 (waived if a minimum balance of $5,000 is maintained)
- Sending an Interac e-Transfer: $1.50 each
- International POS Payments: 2% administration fee on the transaction amount
- Non-Exchange ATM Fees: Interac $2.50 each (first 8 free in Canada); $5 International ATM fee (first 8 free) plus 2% administration fee on transaction amount for all International ATM withdrawals.
Coast Chequing Prestige Account special offers
Coast Capital offers up to $400* cash for a limited time when you become a member and open a chequing account. This is an enticing offer for new customers considering a switch to Coast Capital.
Other Coast Capital Chequing Accounts
Coast Capital offers other chequing accounts to cater to different banking needs. These include the following:
- Coast Capital Free Chequing, Free Debit, and More Account: Offers unlimited transactions with zero monthly fee or required minimum balance.
- Coast Capital US Chequing Account: This account allows you to make transactions in US dollars and has no account fee attached.
- Coast Capital Chequing Classic Account: For a low monthly fee, you receive 40 day-to-day transactions per month, free personalized cheques, and more.
How to open the Coast Chequing Prestige Account
Opening a Coast Chequing Prestige Account is a straightforward process:
- Visit the Coast Capital website and select “APPLY ONLINE”.
- Choose the Coast Chequing Prestige Account
- If required, specify whether the account will be a joint account, define the intended use of the account, and identify whether Coast Capital will be your primary financial institution.
- Enter your personal information, contact details, residential address, and employment details.
- Double-check your application thoroughly to ensure it’s accurate, then submit it.
- Once submitted Coast Capital will evaluate your application and provide with a notification of its status.
There are certain eligibility requirements you’ll need to meet, to apply for this account:
- You’ll need to be the age of majority in your province
- You must be in possession of a Canadian Social Insurance Number (SIN)
- Becoming a member by purchasing at least $5 in Membership Equity Shares is essential
Opening an account with Coast Capital is a straightforward process that takes as little as 5 minutes, thanks to their simplified online application process.
Coast Chequing Prestige Account conclusion
The Coast Chequing Prestige Account is a robust banking solution that offers numerous features to simplify everyday banking while providing financial flexibility.
This account stands out with its unlimited transaction offering, mobile banking convenience, extensive ATM network, and member-owned financial cooperative structure.
New members can benefit from a generous special offer, potentially earning up to $400 cash upon opening an account. It’s more than just a chequing account. This package is a gateway to becoming part of a community that values its members’ financial well-being above all else.
Perhaps you want to manage your finances more effectively or seek a banking experience tailored to your needs. Irrespective, this chequing account is a worthy consideration.
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