Life Stories From Canadians
“Who Switched to the All-In-One Approach “


“We got our first all-in-one account more than seven years ago to help buy our first home. We bought a condo and, within five years, we were mortgage free! The all-in-one account allowed us to pay off our mortgage so quickly that we are now in a larger home and still enjoying the freedom of the account.” Alexis (31) and Troy (36) of Toronto , ON

“When we first signed up for an all-in-one account, we were living in our townhouse and were able to pay down our mortgage very quickly. We moved to a new house in 2005 and the process went well. We were able to completely renovate our unfinished basement at our own pace and cost – it was so easy to do. Justin (43) and Heather (39) of Chilliwack , BC

“Before we looked at an all-in one account, my fiancee and I had a number of bank accounts, both personal and shared. I was responsible for some living expenses through my account and May was responsible for other payments through her account. That meant there was money just sitting in those accounts for most of the month. With the all-in-one account, when the money is deposited, it reduces the debt. Drew (50) and May (40) of Victoria , BC.

“We have used our all-in-one account for about two and a half years now and love being our own bankers. The transition from our old bank to the all-in-one account was very easy and, as most of our bills are auto-debit, the account does not require much hands-on maintenance. Compared to our old banking process – with chequing account and line of credit – this account is much more convenient and flexible.”Peter (60) of Stettler , AB

“We reduced our principal! For years we had a mortgage with another financial institution and never seemed to put a dent in our principal. In just over a year with our all-in-one account, we have reduced the amount we owe by close to $30,000 and we think that is fantastic!” Tom (54) and Linda (54) of Dartmouth , NS

“My wife and I have had an all-in-one account for nearly four years. We are both retired government employees and are on a fixed monthly income. The all-in-one account has given us peace of mind. We now use only one account for all of our banking, including our mortgage and feel that whatever may happen financially, we can face it. We are both pleased to be able to successfully manage our spending in order to get debt-free sooner!”
Sylvain (52) and Chantal (48) of Montreal area , QC

“We heard about all-in-one bankinhg through a friend of Mary’s. To be frank, it seemed like an odd way to bank (I initially called it “backwards banking”) but the friend was credible and helped answer some of our questions. We met with a Banking Consultant at a coffee shop a few days later and he told us more about the all-in-one account. When we left one hour later, we still didn’t understand everything but one thing was very clear – the interest charges on our total debt would be reduced by 40%. Pat (62) and Mary (49) of Airdrie , AB

“The best financial decision I’ve ever made! My wife and I switched our mortgage to an all-in-one account a few years ago – when we needed to purchase a new minivan, and while expecting our second child. We weren’t willing to pay car loan interest rates, and the all-in-one account gave us the flexibility to make large purchases without additional financing.
Duncan (32) of Sarnia , ON

“We switched to an all-in-one account almost two years ago. We have paid off so much of our current mortgage that we were able to purchase our dream house in a perfect neighborhood, while keeping our current house as a rental property. Our all-in-one account has given us the ability to break free from conventional mortgages. With all the money we have saved, we are now facing a very bright financial future and being mortgage-free by age 35 is a very distinct possibility!! Julia (27) and Chris (28) of Calgary , AB

“We’ve experienced many benefits from our all-in-one account. We’ve saved at least $5,000 per year in interest payments which helped to pay down our debt faster than when we had multiple loans and a mortgage through another bank. We’ve been able to write cheques from the all-in-one account to purchase RRSPs and then turn around and deposit the income tax refund back into it.Normand (51) and Yvonne (48) of Fort McMurray , AB

“I’m a business analyst, so I approached this account with a lot of hesitation. After all, when something seems too good to be true it usually is, right? But after doing a couple of calculations to see what our interest would be, I closed out our other accounts (one of which we had for more than 25 years) and I’ve never looked back. Sheila and David of Calgary , AB

“Originally, I chose an all-in-one account when I was earning commissions to help me through the low earnings periods. What I like best about the account is being my own banker and the flexibility it gives me. With the all-in-one account, I never have to go to a traditional bank for a loan – I can borrow from myself now” Cathy (50) and Frank (56) of Sidney , BC

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