Article content

TORONTO — Several of Canada’s biggest banks are upping the fees that they charge customers even as they continue to rake in hefty profits, and experts say Canadians are likely too complacent to do much about it.

TD Bank boosted a number of the fees associated with its personal deposit accounts starting March 1, including increasing the cost of using a non-TD ATM to $2 from $1.50.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or The big banks are hiking their fees — but experts say complacent Canadians will probably just take it Back to video

The lender also introduced a $75 fee to transfer a tax-free savings account to another institution.

The large banks are just betting that the average consumer will just take it

“We recognize that any changes can be challenging for customers and only after careful review do we increase our prices,” said TD spokeswoman Daria Hill.

“We’re transparent about communicating these changes to our customers and we encourage customers to come and talk to us. There are ways for customers to avoid or minimize the impact of these changes, and we can help guide them to the options that best suit their needs.”