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Service Fee Updates:
On February 1, 2024 we made some updates to our service fees and made note of some fees not previously specified.
Please review the table below to understand what changes we have made.
What has been updated?
Service |
What's new |
Consumer |
Business/Agriculture |
Community |
| Customer Automated Fund Transfer (CAFT): Chargeback per item from batch submission | Added: from batch submission | N/A | $9.00 | $9.00 |
| Draft: US & International Currency (from CDN Account) in CAD | Added: international currency | $7.50 | $7.50 | $7.50 |
| Electronic Transactions: AFT returns from external FI/third party | Added: from external FI/third party | $45.00 | $45.00 | $45.00 |
| Estate Fees: Estate Account Administration | Newly added | $225.00 | N/A | N/A |
| Estate Fees: Late/No Death Notification requiring tax slip refiling with CRA | Newly added | Cost recovery of CRA charges | N/A | N/A |
| Estate Fees: Specialized Estate Administration | Newly added | $275.00/hr + GST; min 1 hr charged | N/A | N/A |
| Estate Fees: T3 Estate Preparation | Newly added | $275.00 + GST/annual issuance | N/A | N/A |
| Stop-Payment: Official Order | Newly added | $15.00 | $15.00 | $15.00 |
| Miscellaneous: Non-resident Non-reporting: CRA requested NIR instead of T5 | Newly added | Cost recover of CRA charges | N/A | N/A |
| Registered Accounts: Transfer Out (per contract); unless waived for members with connectFirst Wealth Advisor Account(s) | Added: unless waived for members with cFCU Wealth Advisor Account(s) | $75.00 | N/A | N/A |
| Term Deposits: Classic option redemption (once per year) | N/A fee changed to Free | Free | N/A | N/A |
| Loan/Mortgage Fees: Payout Statements | Newly Added | First request free; $25 per subsequent updated request on same loan | First request free; $25 per subsequent updated request on same loan | First request free; $25 per subsequent updated request on same loan |
| Loan/Mortgage Fees: Letter of Credit | Added: whichever is greater | 1% of letter of credit amount or minimum of $250, whichever is greater. | *Contact your Account Manager for fee estimate | *Contact your Account Manager for fee estimate |
| Loan/Mortgage Fees: Discharge filling fee | Newly added | $10.00 +GST | *Contact your Account Manager for fee estimate | *Contact your Account Manager for fee estimate |
| Loan/Mortgage Fees: Late Reporting Fee | Newly added | N/A | *Contact your Account Manager for fee estimate | *Contact your Account Manager for fee estimate |
| Loan/Mortgage Fees: Draw Mortgage Application Fee |
Added: Actual 3rd party fees incurred
Added: whichever is greater |
Actual 3rd party fees incurred* or $250.00 minimum, whichever is greater | *Contact your Account Manager for fee estimate | *Contact your Account Manager for fee estimate |
| Loan/Mortgage Fees: Credit Facility Standby | Newly added | N/A | *Contact your Account Manager for fee estimate | *Contact your Account Manager for fee estimate |
| Loan/Mortgage Fees: City online request | Newly added | Cost + GST | *Contact your Account Manager for fee estimate | *Contact your Account Manager for fee estimate |
| Loan/Mortgage Fees: Land Title Search | Newly added | $10.50 + GST | *Contact your Account Manager for fee estimate | *Contact your Account Manager for fee estimate |
| Loan/Mortgage Fees: PPSA | Newly added | $10.50 + GST | *Contact your Account Manager for fee estimate | *Contact your Account Manager for fee estimate |
| Member Card: Replacement cards (after 2 free/year) | Added: after 2 cards free/year limit | $15 | $15 | $15 |