More banks on campus
Re: ATMs on campus
To the Editor:
I have read some tidbits in The Gazette about smart money-saving strategies, as well as other stories that affect students. In particular, I want to point out that The Bank of Montreal, as well as The Toronto Dominion Bank are no longer involved in the OSAP funding program.
This means that you can not negotiate an OSAP loan at either of those banks. With this information in mind, it struck me as odd that The Bank of Montreal offers the only cash machines on campus.
My question is this: why should we (the students), a large number of which would not be students at university without OSAP funding, be giving our money to a bank that is not at all concerned with our university finances? Furthermore, why is there only one bank represented on campus?
When you consider the number of ATM transactions (400 per day, thanks Gazette) over the course of the year; that is a lot of money! I don't mind paying the $1.25 service charge once in a while, but when I don't even have the option of choosing, it upsets me. Short of a 25 minute walk, I can't use an ATM that is from my bank. If I have to pay that fee, I would feel better if at least it went to a bank that is supporting the program that allows me to be here, namely OSAP.
Finally, I would just like to add that if there were several banks represented on campus, myself and a multitude of other students could use our own bank machines. That means no service charges at all. To me, that seems like a smart money-saving strategy.