Author Topic: Has anybody heard about the new DND Bank? I have seen ads? (Read 6214 times)

HFXCrow · « **on:** October 07, 2005, 18:15:30 »

Any comments or a link would be great!

Crow

BOSNwife · « **Reply #1 on:** October 07, 2005, 20:19:35 »

Here's the link:
http://www.cdcbanking.com/a/home/homePage.page

HFXCrow · « **Reply #2 on:** October 07, 2005, 22:38:22 »

Thanks..Have a Happy Thanksgiving

Crow

Gunner · « **Reply #3 on:** October 07, 2005, 23:05:25 »

If you have access to the DIN, there is a CANFORGEN out on this issue.

x-grunt · « **Reply #4 on:** October 08, 2005, 01:08:18 »

Does this somehow benefit the CF? Except for the $5 fee, this is pretty much identical to the President's Choice free banking right down to the same interest rates and ATM's. Same people offering it too, it's a subsidiary of the CIBC.

Although I like the idea of CF friendly services, I don't really see any real benefit here for CF members. At least with PC Financial you can get free grocery points and it doesn't cost you $5 a month.
Did I miss something?

HFXCrow · « **Reply #5 on:** October 08, 2005, 10:19:37 »

I do not see the utility of switching over all your pay and allotments over. What a headache and more work for your friendly RMS Staff.

It looks like CIBC with a DND Storefront.

Might be good for somebody just joining!

George Wallace · « **Reply #6 on:** October 08, 2005, 10:44:25 »

With my past experiences with CIBC, I am now "turned off". B of M was much worse, though.

HFXCrow · « **Reply #7 on:** October 08, 2005, 11:17:43 »

GW:

This might be a total shot in the dark.

But did Bank of Montreal used to have a contract with DND as I remember the BOM being in Lahr. (Schwarzwald Strasse-and they had this little Canex)

I remember all the Bases having the good old credit union.

Most of them closed but Petawawa's. I used to love the Credit Union as they would always give u a loan. (CFB Kingston--payday loans--cost u 5 bucks.)

Dockyard Credit Union had the famous 500 dollar weekender.....

Those were the days!

Nerf herder · « **Reply #8 on:** October 08, 2005, 11:20:14 »

Here you go.....UNCLASSIFIED:

Quote

CANFORGEN 139/05 ADM(HR-MIL) 067 061803Z SEP 05
CANADIAN DEFENCE COMMUNITY BANKING
UNCLASSIFIED

THE CDS IS PLEASED TO ANNOUNCE THAT THE CANADIAN FORCES HAS ENTERED INTO AN AGREEMENT WITH THE CANADIAN IMPERIAL BANK OF COMMERCE TO PROVIDE COST-EFFECTIVE BANKING SERVICES TO SERVING AND FORMER CF MEMBERS, DND PUBLIC SERVANTS, RESERVISTS, NPF EMPLOYEES AND OTHER AUTHORIZED PATRONS

THIS PROGRAM, CALLED THE CANADIAN DEFENCE COMMUNITY BANKING PROGRAM (CDCB), IS DESIGNED TO MINIMIZE THE TURMOIL SURROUNDING CHANGING FINANCIAL ARRANGEMENTS ON POSTING OF CF MEMBERS WHILE PROVIDING A BROAD RANGE OF BANKING SERVICES TO AUTHORIZED PATRONS. THIS ACCOUNT IS DIFFERENT IN THAT IT WILL BE AN ACCOUNT ACCESSIBLE NATIONALLY, NOT ONE LINKED TO A LOCAL BRANCH BANK. A SINGLE NOTIFICATION IS ALL THAT WILL BE REQUIRED TO EFFECT A LOCATION CHANGE

THIS PROGRAM INCLUDES A BROAD RANGE OF PRODUCTS AND SERVICES INCLUDING A LOW COST $5/MONTH CHEQUING ACCOUNT, LOW RATE MORTGAGES THAT CAN MOVE WITH YOU, LINE OF CREDIT, GICS AND A SAVINGS ACCOUNT WITH BETTER THAN AVERAGE RATES

INFORMATION PAMPHLETS WILL BE SENT TO BASE/WINGS/UNITS AND WILL BE AVAILABLE AT CANEX, THE GYMNASIUM, THE SISIP FS OFFICES, THE NPF ACCOUNTING OFFICE AND AT OTHER LOCATIONS

THE NATIONAL ROLLOUT TO BASES/WINGS/UNITS WILL BEGIN IN SEPTEMBER, AND MAY INCLUDE VISITS BY CDCB BUSINESS DEVELOPMENT MANAGERS (BDM). PERSONNEL WISHING TO JOIN NEED NOT WAIT FOR A BDM TO VISIT A BASE/WING/UNIT, BUT MAY JOIN THE PROGRAM BY PICKING UP AN APPLICATION KIT, PHONING 1-866-808-9933, OR VISITING WWW.CDCBANKING.COM AND DOWNLOADING AN APPLICATION

MORE DETAILED INFORMATION ON HOW TO APPLY IS AVAILABLE DIRECTLY FROM THE CDCB WEB SITE AT WWW.CDCBANKING.COM , THROUGH THE LINK ON THE CFPSA WEB SITE AT WWW.CFPSA.COM , OR BY CALLING THE CANADIAN DEFENCE COMMUNITY BANKING PROGRAM TOLL FREE AT 1-866-808-9933

Hope that helps

Regards

HFXCrow · « **Reply #9 on:** October 08, 2005, 11:26:45 »

Thanks , I still think its a sham!

George Wallace · « **Reply #10 on:** October 08, 2005, 12:23:20 »

Quote from: HFXCrow on October 08, 2005, 11:17:43

But did Bank of Montreal used to have a contract with DND as I remember the BOM being in Lahr. (Schwarzwald Strasse-and they had this little Canex)

The B of M in Lahr was actually an American Bank who contracted out to B of M (or something along those lines), and wasn't really part of Bank of Montreal; sort of a 'franchise'.

The B of M used to be in Pet, but they got kicked out and the Credit Union moved in. I think the Credit Union is gone now too.

Quote from: HFXCrow on October 08, 2005, 11:17:43

I remember all the Bases having the good old credit union.

Most of them closed but Petawawa's.

I really don't see any problems. I've dealt with the TD and have been Posted several times with no interruptions to my Banking. I really do hate the Big Canadian Banks "Service Charging" us to death. CIBC is really getting my goat now with my Savings Acct. and the Investments I used to have at Midland-Walwyn, who sold out to Merrill Lynch (who decided they weren't making enough money in Canada), who sold out to CIBC who is now Service Charging me on my Stocks purchased over ten years ago (Darn Stock Crash). No, not too many of Canada's Banks have any compassion for the little guy. It is all for PROFIT, so a partnership with the Devil may not be a good thing. Check out their Service Charges and then make your decision.

recceguy · « **Reply #11 on:** October 08, 2005, 13:08:03 »

I'm wondering if those same people that have the CANEX shares are also the people behind this latest venture? I also wonder if, like the BofM in Germany, they'll be contacting your Unit when your .50 cents overdrawn?

Zoomie · « **Reply #12 on:** October 08, 2005, 17:29:10 »

I don't really understand the virtues of this new deal... At RBC I can access my account nationally, either via ATM or teller (at any branch) - why would I pay $5 for this when it is already part of the digital world. My account has remained at my Mississauga branch since I joined, I haven't had any real problems. What a waste of someone's time and effort!

HFXCrow · « **Reply #13 on:** October 08, 2005, 19:03:41 »

I totally agree, I was thinking of all the planning, conferences, NDHQ TD's ($$$) and finally a CANFORGEN which somebody had to write, just to get this off the ground.

This is a global marketplace. I pay my bills at sea via the internet.

Redundant.com

George Wallace · « **Reply #14 on:** October 08, 2005, 19:07:14 »

Seems we had a thread here that mentioned something like this a while back....perhaps someone took the idea and ran with it? A discarded idea from Army.ca put into practise....

Old Ranger · « **Reply #15 on:** October 09, 2005, 10:27:19 »

Quote from: George Wallace on October 08, 2005, 19:07:14

A discarded idea from Army.ca put into practise....

Maybe we should create a "Special Discard File" to help the Troops.

Beadwindow 7 · « **Reply #16 on:** October 09, 2005, 10:34:55 »

I've looked at the service CIBC is offering, and I don't really see any advantage. As someone who's worked in Banking for a while, it doesn't really give you anything better than whatever you may currently have. I know it's not beneficial to switch from my RBC account to this.

As far as what may appeal to military members, the national access part means you wouldn't have a home branch...I know all my statements still say "Oromocto RBC" because that's where I started. This service the main branch for CIBC would be yours..

The only thing that might be of interest to military members is the possibility of transferring your mortgage elsewhere...I'm not sure how they'd do it, and as I don't have a mortgage, don't particularly care.

I know I previously floated the idea of a military-aimed Credit card, but this doesn't seem to include that

Pencil Tech · « **Reply #17 on:** October 09, 2005, 10:39:13 »

President's Choice is also CIBC and you can do everything they offer with no fee. Relocations are too easy with PC because you're not tied to any branch.

Old Ranger · « **Reply #18 on:** October 09, 2005, 10:42:24 »

How does anyone feel about "ING Direct"?

Recce41 · « **Reply #19 on:** October 10, 2005, 13:15:06 »

Remeber the BofM in Lahr, and Patawawa, folded. Anything that is close to CIBC. NO

CheersShag · « **Reply #20 on:** October 10, 2005, 13:23:55 »

Might be useful for a new/young member trying to get a line credit or a mortgage.

I was going to set up an ING Direct account, no-fee savings, you can't go wrong.

*star · « **Reply #21 on:** December 29, 2005, 02:15:31 »

Quote from: recceguy on October 08, 2005, 13:08:03

I'm wondering if those same people that have the CANEX shares are also the people behind this latest venture? I also wonder if, like the BofM in Germany, they'll be contacting your Unit when your .50 cents overdrawn?

CANEX Shares? How do I buy those? What exchange are they sold on?

Rider Pride · « **Reply #22 on:** December 29, 2005, 08:26:58 »

Quote from: *star on December 29, 2005, 02:15:31

CANEX Shares? How do I buy those? What exchange are they sold on?

You won't find them on any stock exchange.

To get canex shares you have to be Maj or above, and be a senior commander, i.e comanders of units, bases, brigades. You may also be awarded canex shares by being designated X number of shares for excellent performance as a Capt as a member of above share owners staffs.

Theses are not public shares, hence the term Non Public Funds, NPF.

Rider Pride · « **Reply #23 on:** December 29, 2005, 08:31:00 »

My wife and I looked into the bank as well.

I found the same thing as a few other posters.

Great if you are new, and setting up your first accounts in the CF.

To much hassle, without much savings for couples who have been banking for a number of yrs. I bank with TD and never had difficulty moving or transfering my accounts.

2Charlie · « **Reply #24 on:** January 01, 2006, 02:15:18 »

The B

M in CFE was a charter setup under Lloyds of London.

It was B

M in name alone, I was a B

M customer in Canada and they wouldn't, couldn't and didn't interact with my account in Lahr when I was there

. Hence I ditched them and went to the Sparkasse and discovered just what customer service was all about

.

Still miss dealing with a bank that respected me as a customer and not just some low life army guy making less than a blue collar stiff. I also enjoyed when the exchange rate was in our favour, man, I feel old $:-\$ .

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Author Topic: Has anybody heard about the new DND Bank? I have seen ads? (Read 6214 times)