# Has anybody heard about the new DND Bank? I have seen ads?



## NCRCrow (7 Oct 2005)

Any comments or a link would be great!

Crow


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## BOSNwife (7 Oct 2005)

Here's the link:
http://www.cdcbanking.com/a/home/homePage.page


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## NCRCrow (7 Oct 2005)

Thanks..Have a Happy Thanksgiving

Crow


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## Gunner (8 Oct 2005)

If you have access to the DIN, there is a CANFORGEN out on this issue.


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## x-grunt (8 Oct 2005)

Does this somehow benefit the CF? Except for the $5 fee, this is pretty much identical to the President's Choice free banking right down to the same interest rates and ATM's. Same people offering it too, it's a subsidiary of the CIBC.

Although I like the idea of CF friendly services, I don't really see any real benefit here for CF members. At least with PC Financial you can get free grocery points and it doesn't cost you $5 a month. 
Did I miss something?


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## NCRCrow (8 Oct 2005)

I do not see the utility of switching over all your pay and allotments over. What a headache and more work for your friendly RMS Staff.

It looks like CIBC with a DND Storefront. 

Might be good for somebody just joining!


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## George Wallace (8 Oct 2005)

With my past experiences with CIBC, I am now "turned off".  B of M was much worse, though.   :


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## NCRCrow (8 Oct 2005)

GW:

This might be a total shot in the dark.

But did Bank of Montreal used to have a contract with DND as I remember the BOM being in Lahr. (Schwarzwald Strasse-and they had this little Canex)

I remember all the Bases having the good old credit union. 

Most of them closed but Petawawa's. I used to love the Credit Union as they would always give u a loan. (CFB Kingston--payday loans--cost u 5 bucks.)

Dockyard Credit Union had the famous 500 dollar weekender.....

Those were the days!


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## Franko (8 Oct 2005)

Here you go.....UNCLASSIFIED:



> CANFORGEN 139/05 ADM(HR-MIL) 067 061803Z SEP 05
> CANADIAN DEFENCE COMMUNITY BANKING
> UNCLASSIFIED
> 
> ...



Hope that helps

Regards


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## NCRCrow (8 Oct 2005)

Thanks , I still think its a sham!


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## George Wallace (8 Oct 2005)

HFXCrow said:
			
		

> But did Bank of Montreal used to have a contract with DND as I remember the BOM being in Lahr. (Schwarzwald Strasse-and they had this little Canex)


The B of M in Lahr was actually an American Bank who contracted out to B of M (or something along those lines), and wasn't really part of Bank of Montreal; sort of a 'franchise'.

The B of M used to be in Pet, but they got kicked out and the Credit Union moved in.  I think the Credit Union is gone now too.


			
				HFXCrow said:
			
		

> I remember all the Bases having the good old credit union.
> 
> Most of them closed but Petawawa's.



I really don't see any problems.  I've dealt with the TD and have been Posted several times with no interruptions to my Banking.  I really do hate the Big Canadian Banks "Service Charging" us to death.  CIBC is really getting my goat now with my Savings Acct. and the Investments I used to have at Midland-Walwyn, who sold out to Merrill Lynch (who decided they weren't making enough money in Canada), who sold out to CIBC who is now Service Charging me on my Stocks purchased over ten years ago (Darn Stock Crash).  No, not too many of Canada's Banks have any compassion for the little guy.  It is all for PROFIT, so a partnership with the Devil may not be a good thing.  Check out their Service Charges and then make your decision.


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## Fishbone Jones (8 Oct 2005)

I'm wondering if those same people that have the CANEX shares are also the people behind this latest venture? I also wonder if, like the BofM in Germany, they'll be contacting your Unit when your .50 cents overdrawn?


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## Zoomie (8 Oct 2005)

I don't really understand the virtues of this new deal...  At RBC I can access my account nationally, either via ATM or teller (at any branch) - why would I pay $5 for this when it is already part of the digital world.  My account has remained at my Mississauga branch since I joined, I haven't had any real problems.  What a waste of someone's time and effort!


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## NCRCrow (8 Oct 2005)

I totally agree, I was thinking of all the planning, conferences, NDHQ TD's ($$$) and finally a CANFORGEN which somebody had to write, just to get this off the ground.

This is a global marketplace. I pay my bills at sea via the internet.

Redundant.com


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## George Wallace (8 Oct 2005)

Seems we had a thread here that mentioned something like this a while back....perhaps someone took the idea and ran with it?  A discarded idea from Army.ca put into practise.... ;D


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## Old Ranger (9 Oct 2005)

George Wallace said:
			
		

> A discarded idea from Army.ca put into practise.... ;D



Maybe we should create a "Special Discard File" to help the Troops.


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## Sig_Des (9 Oct 2005)

I've looked at the service CIBC is offering, and I don't really see any advantage. As someone who's worked in Banking for a while, it doesn't really give you anything better than whatever you may currently have. I know it's not beneficial to switch from my RBC account to this.

As far as what may appeal to military members, the national access part means you wouldn't have a home branch...I know all my statements still say "Oromocto RBC" because that's where I started. This service the main branch for CIBC would be yours..

The only thing that might be of interest to military members is the possibility of transferring your mortgage elsewhere...I'm not sure how they'd do it, and as I don't have a mortgage, don't particularly care.

I know I previously floated the idea of a military-aimed Credit card, but this doesn't seem to include that


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## Pencil Tech (9 Oct 2005)

President's Choice is also CIBC and you can do everything they offer with no fee. Relocations are too easy with PC because you're not tied to any branch.


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## Old Ranger (9 Oct 2005)

How does anyone feel about "ING Direct"?


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## Recce41 (10 Oct 2005)

Remeber the BofM in Lahr, and Patawawa, folded. Anything that is close to CIBC. NO


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## winchable (10 Oct 2005)

Might be useful for a new/young member trying to get a line credit or a mortgage.

I was going to set up an ING Direct account, no-fee savings, you can't go wrong.


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## *star (29 Dec 2005)

recceguy said:
			
		

> I'm wondering if those same people that have the CANEX shares are also the people behind this latest venture? I also wonder if, like the BofM in Germany, they'll be contacting your Unit when your .50 cents overdrawn?



CANEX Shares? How do I buy those? What exchange are they sold on?


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## Armymedic (29 Dec 2005)

*star said:
			
		

> CANEX Shares? How do I buy those? What exchange are they sold on?



You won't find them on any stock exchange.
 >
To get canex shares you have to be Maj or above, and be a senior commander, i.e comanders of units, bases, brigades. You may also be awarded canex shares by being designated X number of shares for excellent performance as a Capt as a member of above share owners staffs.

Theses are not public shares, hence the term Non Public Funds, NPF.


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## Armymedic (29 Dec 2005)

My wife and I looked into the bank as well.

I found the same thing as a few other posters. 

Great if you are new, and setting up your first accounts in the CF. 

To much hassle, without much savings for couples who have been banking for a number of yrs. I bank with TD and never had difficulty moving or transfering my accounts.


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## 2Charlie (1 Jan 2006)

The B :skull: M in CFE was a charter setup under Lloyds of London.

It was B :skull: M in name alone, I was a B :skull: M customer in Canada and they wouldn't, couldn't and didn't interact with my account in Lahr when I was there  .  Hence I ditched them and went to the Sparkasse and discovered just what customer service was all about  ;D.

Still miss dealing with a bank that respected me as a customer and not just some low life army guy making less than a blue collar stiff.  I also enjoyed when the exchange rate was in our favour, man, I feel old  :-\.


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## Ed Gagnon (4 Mar 2006)

Hey Armymedic,

As for the CANEX shares, you don't know what you are talking about!  What you have said here is completely false and groundless.  As the PSP Manager in Petawawa and I often give briefings on PSP and I start the briefing with True or False questions.  One of them is related to CANEX shares.  This is a rumour that has been around for many years however it is completely false.  There are no CANEX shares.  The profit from CANEX goes to provide bases with funds to provide quality of life program and activities for soldiers and their families.  

Thanks,

Ed Gagnon
PSP Manager
CFB Petawawa


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## Gunner (4 Mar 2006)

Ed, I think Armymedic's comments were meant as sarcasm...

Welcome to army.ca....


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## Armymedic (4 Mar 2006)

Ed,
The evil and winking smileys were indications of my sacrcasm as I passed all of those rumours on to the young poster.

I pm'd him afterward and told him there was no such beast. 

But thanks for clarifying that here as looking back on it, anyone who reads that may think there may actually be such a thing.


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## MOOXE (6 Mar 2006)

I think the DND banking system is way out of touch with reality. I attended a briefing on it about 4 months ago held by the people that started it. After reading the pamphlet before the breifing started I knew it was a pile of B.S. I found out why it was such a pile of B.S..... He said that this project was started in 2000. Now back in 2000 this deal woulda of been worthy, but now 6 years later its not. You can get better service and rates with many other banks. He also admitted that they cant go to low on mortgage rates and that some members ended up getting lower rates at regular banks.

Good idea 6 years ago, implemented to late to be useful IMO.


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## GO!!! (6 Mar 2006)

Army banking - right.

Look at how well the CF administers things like pay, claims and allowances.

Now apply clerk logic to your bank "did'nt get paid? don't worry, you'll probably get it next month" 

How about housing taking 4 months of rent all at once?

I'll keep my pay as far away from anyone in uniform as I can get it, and the fact that the CF is endorsing it makes me even more wary - are these the same people who thought that the tac vest and iltis were "ideal" for our needs? Why would I believe them now?


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