Changes to Fees & Charges – Effective 1/12/2020

Members are advised that selected fees and charges will be changing from December. 

Summary of changes:

Membership Admin Fee*Change to existing$5 per month
Personal Cheques^Change to existing$2.00 per cheque presented
Bank@Post Cash Withdrawal^Change to existing$3.00 per cash withdrawal
Paper Statement Fee^Change to existing$2.50 per paper statement
   
Business Membership Fee#New fee$10 per month
Business staff-assisted fee#New fee$10 per transaction
Business temporary internet banking limit increase#New fee$10 per request

Changes have also been made to select third party charges as per the Fees and Charges Schedule.

Click here to download copies of our Fees and Charges schedules.

More information

* You can avoid this fee:

  1. By maintaining a minimum monthly balance in aggregate across all of your accounts of $1,000.
  2. If you have a First Option loan or credit card
  3. If you are under 21
  4. For the first 3 months after joining First Option

^ You can avoid these fees:

  1. By maintaining a minimum aggregate balance across all of your accounts of $25,000.
  2. If you have a First Option loan or credit card
  3. If you are under 21
  4. For the first 3 months after joining First Option

# Business Fee terms:

  1. Business Membership Fee:
    1. Charged per business membership per month
    2. Waived for members with a minimum monthly balance of $25,000 in aggregate in all related accounts (Personal and Business)
  2. Staff-assisted transaction fee – applies for each transaction that First Option staff perform on your behalf
  3. Temporary Internet Banking limit increase – applies each time we approve a temporary increase to your Internet Banking limit.  We can increase your limit to enable you to pay your bills – and avoid the staff-assisted transaction fee.