We all hear talk about the good old days. What you could buy for a dollar back then is worth more than a Toonie now. Yes, prices have doubled (sometimes more than doubled!), but not Telpay fees. Let’s take a nostalgic look back to see the rising costs for individuals and businesses.
Personally, in 1988 my tuition cost was around $1,200. According to Statistics Canada, the average tuition fees today are now over $5,500. When I bought my first 4 x4 in 1990, it was $20,000, that vehicle now is around $38,000. What about houses? The average price of a house in Winnipeg in 1988 was $76,000. Now that house will cost you over $370,000.
Business costs have also risen dramatically. The Manitoba minimum wage in 1988 was $4.70 and now it is $11.00. In 1988, the price of a stamp was 37 cents. Today, it is $1.00 or 85 cents for metered postage. Let’s not forget about escalating bank charges! You don’t have to think back to the 80’s to know that bank charges have increased substantially. An example I come across frequently is the $5.00 fee to cancel one Interac e-transfer. Or if you can’t get to your specific bank and have to use another automated teller machine (ATM), that can be up to $2.00 plus the fees that the ATM might charge!
From the past to the present, Telpay has always had the lowest fees that continue to save our customers money. Find out more about Telpay and start saving money today.