Our local tailor on Oakwood only accepts cash.
So, I went to the nearest ATM at the corner before getting my newly tapered pants. I only needed $100 so that’s what I took out. I was charged $4.50.
The same CIBC ATM charged me $3.50 just a couple of weeks ago.
I started laughing and talking to myself. “This is nuts!” I was so loud that I caught the attention of a young teller. She looked cautiously out the doors to see what was going on.
I walked back to the tailor and told him about the $4.50. Mr. Jaafary was surprised too and added his own outrage. He couldn’t believe the bank asks so many questions when you take out your own money at their counter.
Our shock at the bank united us. For the first time, Mr. Jaafary called me by my first name. I heard “bye, Robin” as I left.
CIBC didn’t have to increase their Oakwood Village ATM fees by 22 per cent. It’s not a struggling small businesses. Its profits didn’t suffer with inflation. CIBC made $7.2 Billion this year, and their stock went up 41 per cent. They jacked up their ATM fees from $3.50 to $4.50 in less than a month because they can.
It’s greed.
They know we’ll need to take out cash and we don’t have a choice. They also know, there’s nothing we will do about it.
Will we?
