The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
Latest News
What is a Secured Credit Card and How Does It Work? Jun 28th
A good credit history is important for everyone. It’s a gateway to more borrowing options and the basis of a positive financial future. But what if you have no credit, or some unfortunate marks on your record make it hard to get a new card?
That’s where a secured credit card may come in.... More »
The best GIC rates in Canada for 2025 + MORE Oct 20th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
NSF Fees: How They Work and Ways You Can Avoid Them Sep 6th
Let’s face it; no one likes getting charged bank fees. It’s one of the main reasons online banks have surged in popularity in recent years. But even online banks charge NSF fees. If you’re unfamiliar, here’s how NSF fees work and how you can avoid them.
What Is an NSF Fee?
A non-sufficient f.... More »
Motusbank Online Bank Launches With Low HELOC, Competitive GICs + MORE Apr 3rd
Motusbank, a subsidiary of Meridian Credit Union, has launched in Canada. First announced in February, a full range of banking and borrowing services are now available on its website, motusbank.ca.
As an online-only bank, Motusbank can be accessed via its mobile app on the Apple App Store and Googl.... More »
The best charities in Canada for 2024: Where to donate to make an impact Nov 13th
Donating to charities this year seems like a squeeze. Canadians face incredibly high expenses these days. It’s an affordability crisis, whether we’re talking housing, groceries or pretty much any other cost of living. The impact is severe.
In March 2024, Canadian food banks had more than 2 mi.... More »
4 Tips to Avoid the Post-Holiday (Financial) Hangover
– ratesupermarket.ca
Christmas and New Year’s Day has already come and gone, leaving us to “look forward” to Blue Monday, the (unofficially) most depressing day of the year. In 2019, Blue Monday falls on Monday, January 21, and the day is calculated by factoring in things such as weather and, yes, debt level as people start to receive their credit card statements from December.
Maybe this year you – and your wallet – are feeling the blues from a holiday season of high-spending. Paying down your credit card debt may currently be your number one priority and your new year’s resolution is to be more fiscally responsible. So, instead of leaving your holiday planning to last minute and putting everything on credit, you’re going to plan ahead of time… starting now! It may sound unrealistic – who starts planning for Christmas is January? – but the only way to avoid a hangover is by taking preventative measures. Drink a lot of water and follow these simple steps to never have debt-plagued January again…
