Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
Update! Tangerine Money-Back Credit Card Review Nov 28th
Update, November 27, 2019:
Apply for a Tangerine Money-Back Credit Card by December 31, 2019 and receive a $75 e-Gift Card from RateSupermarket.ca when your application is approved.
Looking to earn cash back on your daily expenditures? Don’t want to pay an annual fee? Enter the Tang.... More »
Video: How the bank of Canada’s interest rate affects you Mar 8th
Think of the Bank of Canada (BoC) as the “influencer of all influencers” when it comes to interest rates. Banks and other financial institutions follow its lead. Learn more about how the BoC’s overnight interest rate impacts you in this short video, featuring MoneySense executive editor Lisa H.... More »
Wealthsimple Crypto Review: Cryptocurrency Investing Made Easy Apr 23rd
In July 2020, Wealthsimple unveiled the upcoming Wealthsimple Crypto, and with that, Canada’s leading Robo-advisor officially entered the cryptocurrency trading game. In this full review, I’ll cover everything you need to know, and hopefully answer any questions you have.
Introducing W.... More »
Don't be enticed by the big dividends and low valuations of Canada's asset managers Jan 12th
Less-nimble companies face competition from major banks, the popularity of low-cost ETFs and emerging robo-advisers
.... More »
Quiz: How Well Do You Know Your Credit Card? Jul 7th
According to the 2019 Canada Credit Card Satisfaction Study by J.D. Power, “customers who fully understand the benefits offered by their credit card issuer have significantly higher satisfaction levels compared with those who do not completely understand the benefits.”
Customers are more satisf.... More »
Robo-advisory firms shake up The City
– theglobeandmail.com
As technology pioneers claim chunks of the investment advisory market, banks will be forced to respond – and likely with buyouts
Federal Government to Assess Credit Card Interchange Fees
– ratesupermarket.ca
Canada’s federal government has announced that it will be taking action to mediate a rising issue between Canada’s biggest credit card companies and the merchants they serve.
In November 2014, Visa and MasterCard were asked by the federal government to lower fees charged to those who host their services. The companies were told to produce proof of compliance within two years’ time, or face the possibility of the government taking over and setting rates.
Now, both companies have put out releases saying their audits show them to be in compliance. However, neither has released the audits to the public.
As a result, finance minister Bill Morneau says the government will conduct further assessment of these merchant fees charged by credit card networks, and review any effects from the fee reductions. However, the timeline in which they plan to conduct the assessment is unclear.
Canada’s Interchange Fees among Highest in World
Interchange fees – also commonly called merchant fees – are not seen by the consumer…
Review: Tangerine Money-Back Credit Card
– ratesupermarket.ca
Looking to earn cash back on your daily expenditures? Don’t want to pay an annual fee? Enter the Tangerine Money-Back Credit Card, which was introduced in early 2016 following a successful trial run involving 32,000 existing Tangerine clients. The card, which brings a new level of choice to consumers, has created quite a buzz for its unique and flexible rewards structure. Is it right for you? Let’s take a look at the fine print.
Card Details
The no-fee card gives cardholders the ability to choose where they earn the most rewards. Unlike similar cash back options which offer top earnings on gas and groceries only, Tangerine cardholders select their two favourite spending categories to max their Money-Back Rewards, including:
Restaurants
Grocery
Gas
Entertainment
Home Improvement
Furniture
Hotel-Motel
Recurring Bills
Drug Store
Public Transport and Parking
Purchases made within the selected categories will earn 4% on the dollar for the first three months (2% after that), with 1% earned on all other spending…
The Fed's Stress Tests Need to Be Transparent
– online.wsj.com
Banks are being judged by secret models, in violation of the law that governs agency rule-making.
