TD Bank said it will cut credit card interest rates by 50% for customers experiencing hardship, and Royal Bank said it will reduce the charges by the same extent for clients receiving minimum payment deferrals.
CIBC too will lower interest rates to 10.99% on personal credit cards for users who request to skip a payment, the lender said. Last week, Prime Minister Justin Trudeau said his government had urged banks to help alleviate the burden credit card interest rates place on Canadians. This week’s moves are the latest in a raft of relief measures offered by the banks to customers affected by the pandemic.
National Bank said on Friday it will refund additional interest accrued on the deferred mortgage payments. The lender will also waive fees for transfers and stop payments on checks and pre-authorized debts, and will not charge overdraft fees on checking and high-interest savings accounts, it said.
大陸銀行
I called Scotiabank today to enquire about this...but was told they’re not lowering their interest rate for customers. Not sure who’s telling the truth.
Great idea to ease household pain. Hope Australian banks follow suit.qanda 4corners abc730
👍🍀
VisaNews MastercardNews BankofAmerica WellsFargo What are you all doing
Cut mortgage rates
Well that's would be a good way to stimulate the economy. Same thing should occur in the US.
Should be automatic WeAreAllInThisTogether
I use a credit card I put money on. No interest, no bills!
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