“Charge On Cheques Not Probable Here,” Toronto Star. May 25, 1932. Page 9.
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Toronto Banks Will Not Follow Vancouver Example
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The charge of seven cents a cheque levied by Vancouver banks for some time past on all customers whose average monthly deposit in current accounts does not reach $200 is not likely to be inaugurated in Toronto, The Star was informed by bankers to-day.
The banks, it was pointed out, have always made a regular monthly charge to take care of losses in the accounts with small balances, and these charges vary among the different organizations. The most common charge in Toronto is 50 cents per month. It is not likely that any other plan of charging customers will be started, it was stated.
The cheque charge in Vancouver is not being levied on all cheques. A customer, it was explained, is allowed to write a certain number of cheques each month.