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Fees

Why should you have to pay fees to access and use your money? You shouldn’t, we agree! That’s why at PARAMA you are not required to pay a monthly fee to keep an account with us and, unlike the big banks, there is no minimum balance requirement. Members don’t pay fees on their most basic, everyday banking transactions. There are some fees for some services, but we do our best to keep the fees charged minimal and competitive. Compare our service fees to what you might be currently paying at your financial institution and discover the PARAMA advantage!

Parama Benefits: Most chequing account services are FREE to PARAMA members! Compare us to Canada's "Big Banks" or your existing financial institution, and see for yourself - Membership has its Benefits!

 

Comparison Chart- Services and Fees

 

Parama Benefits: Compared to other financial institutions, our list of fees for services is very short and always competitive!

 

Service Charges As Of February 27, 2017

 

Chequing Account Services & Fees

NSF $45.00
Returned Item $15.00
Presentment Charge $7.50
Stop Payment $5.00
Member Statement print $2.00
Microfilm Search $25.00 (per hour) 
Cheque Certification For Members $5.00 
Cheque Certification For Non-Members $20.00 
Canadian Bank Draft For Members $5.00 
Canadian Bank Draft For Non-Members $15.00 
Canadian Money Order $5.00 
US Dollar Draft $5.00 
Personal Account Cheques - Initial 100 (upon account opening) FREE
Personal Account Cheques - Additional 100 $5.00 
Business Account Deposit Record Book $15.00
Business Cheques - 100 (Large Size) $50.00 
Business Cheques - 100 (Small Size) $40.00 
Debit Card - Upon Account Opening FREE
Debit Card - Replacement $10.00 

 

Miscellaneous Services & Fees

AUTOMATED BANKING MACHINE OR ATM TRANSACTION FEES:
CDN ATM withdrawals/deposits via EXCHANGE FREE
US ATM withdrawals via EXCHANGE FREE
 CDN ATM withdrawals outside EXCHANGE $1.00
US ATM withdrawals outside EXCHANGE $2.50
International ATM withdrawals $3.50

FUNDS TRANSFERS:
Outgoing E-transfers $  1.50
Incoming E-transfers FREE
Wires  

send CDN $ within Canada

$25.00

send CDN $ outside of Canada

$35.00

send US $ to the United States

$25.00 USD

send US $ outside of Canada/U.S.

$35.00 USD

incoming CDN $ processing fee

$15.00

incoming CDN $ incomplete information processing fee

$35.00

incoming US $ processing fee

$15.00 USD

incoming US $ incomplete information processing fee

$35.00 USD

EURO FUND TRANSFERS:
$1 to $2,000 (Member) $10.00
$1 to $2,000 (Non-Member) $20.00
> $2,000 (Member) $15.00
> $2,000 (Non-Member) $40.00

 RRSP, TFSA and RESP Transfer out Fee $100.00

SAFETY BOX RENTAL:
1.5 X 5 $50.00
 2.5 X 5 $60.00
 3.5 X 5 $75.00
5.0 X 5 $100.00
5.0 X 10 $180.00

DORMANT ACCOUNT FEES:
Inactive/dormant for 3 years + $50.00 per year

 

Loan Department and Services & Fees

MORTGAGES:
Discharge $300.00
 Transfer Fee out of PARAMA $300.00
 Transfer Fee into PARAMA no charge

BRIDGE FINANCING:
with mortgage $100.00
 without mortgage min. $300.00

 NSF Payments $45.00

 Residential Loans Late Payments $40.00

 Commercial Loans Late Payments $50.00

 Mortgage Statement $25.00

 

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