Big banks, government agree on no-cost accounts

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The country's eight largest banks have agreed to expand low-cost and no-cost banking services for Canadians, Finance Minister Joe Oliver announced Tuesday.
The initiative comes as a result of negotiations between the government and the banks following a commitment in last year's Throne Speech and in the most recent budget on cheap access to banking services.

The budget promised the government would work with financial institutions to expand no-cost banking services for youth, students and low-income seniors who qualify under the guaranteed income supplement and the registered disability savings plan.

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