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Using your own money just got more expensive.

Many of Canada’s big banks are hiking fees, in a move which many feel is a response to slumping oil revenues and historically low interest rates. Regardless of the factors involved, however, it looks like good ol’ consumers are going to be the ones footing the bill. Here’s are the biggest changes that may affect you:

Royal Bank

  • Royal Bank is raising rates on a host of accounts and transactions beginning June 1
  • New fees will be introduced to certain savings accounts, including point-of-sale transaction charges
  • Customers will have to pay a fee to make credit card payments
  • Higher charges will be applied to cheque certifications
  • The age at which seniors become eligible for banking rebates will increase from 60 to 65

Bank of Montreal

  • New fees are set to take effect May 1
  • Monthly bank plan fees will rise by at least $1
  • Customers wishing to receive a monthly statement on paper will now have to pay $2
  • It could cost up to $50 more to use a safety deposit box
  • Debit transaction fees will be hiked $0.25

TD Bank

  • New fees and changes were already implemented March 31, 2015
  • Transfer fees on some savings accounts increased, while other accounts saw them lowered
  • The minimum balance to waive monthly transaction fees rose
  • A number of business bank accounts will pay an increased transaction fee

Scotiabank

  • Changes already took effect January 1, 2015
  • The minimum daily balance required to waive monthly fees increased by $500
  • Safety deposit boxes are now more expensive
  • Paper fees for student and basic chequing accounts were eliminated

CIBC did not respond to The Loop’s request for comment regarding fee changes.