This document compares three bank accounts: CIBC Classic Visa, Scotiabank L'earn Visa, and RBC Student Bank Account. For the CIBC account, the key features are no minimum income requirement, no annual fee, and access to cash advances worldwide. However, the document states the differences are not important enough to choose this bank. For the Scotiabank account, the document chooses this bank because it offers 1% cashback rewards and the ability to earn more rewards with increased spending. The RBC account offers 25 free debits per month, choice of credit cards with annual fee savings, and potential savings of $267 per year. However, the document states it did not choose RBC because

1. Banks Description Difference Why I did or didn’t
choose bank
CIBC Classic Visa -no minimum income
requirement
-No annual fee
-speed and convenience of
using Visa payWave™ for
small purchases
-Access to Visa cash
advances at bank machines
worldwide
-Chip-enabled for enhanced
safety and security
- Visa payWave for small
purchases
-no minimum income
requirement
- Access to Visa cash
advances at bank machines
worldwide
- Chip-enabled for enhanced
safety and security
Why I decided to not to use
this bank is because the
differences is not that
important and something
that I will need to have
when I do choose a bank
Scotiabank L’earn Visa -Get up to a 1% Moneyback
reward
-$0 annual fee
-Spend wisely, earn valuable
rewards
-The more you use your
card, the more you'll get
back in return.
-1% money back reward
- Spend wisely, earn valuable
rewards
- The more you use your
card, the more you'll get
back in return.
I decided to choose this
bank because I can get
money back which when you
live on your own is very
valuable and can also earn
rewards an everything else
about this bank is pretty
much the same as the other
three
RBC Student Bank
Account
-Bank free
-25 free debits per month
including withdrawing cash
from an RBC ATM, paying
bills or transferring money
between your RBC accounts
-choice of a Signature RBC
Rewards, RBC Visa Cash Back
or WestJet RBC MasterCard
and save up to $39 a year off
the annual fee
-my Finance Tracker
-Save up to $267 a year with
the features included with
this account
- Free access to RBC Online
Banking, Mobile, and
Telephone Banking
-25 free debits per month
- choice of a Signature RBC
Rewards
- save up to $39 a year off
the annual fee
- my Finance Tracker
- Save up to $267 a year with
the features included with
this account
- Free access to RBC Online
Banking, Mobile, and
Telephone Banking
The main reason I didn’t
choose this bank is because
the 25 free debits per
month, I know that I would
need more but besides that
this bank would have been
really good