Earlier quoted context omitted.
Thank you for eloquently describing why Canada has chosen a different path than the USA. Banking, for example, is such a clear-cut case of competition not being detrimental for Canadians. For example, I've seen Americans laugh at Canadians on Reddit for not having the Cash app when our equivalent service is available directly from our banks (with a shitty UI, sure) and free. I pay my plumber with e-transfer and could…
> Banking, for example, is such a clear-cut case of competition not being detrimental for Canadians How much does the average Canadian pay per month for their chequing account?
Where they really get you though is in service fees. If you overdraft or do any one of a myriad of options you can get hit with penalty fees. Basically you just have to treat the minimum balance as a hard zero.