How to go about securing the best return for your investment in Canada.
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The best GIC rates in Canada for 2025 + MORE Jul 14th
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.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
After a divorce, Patty, 49, sold her Toronto home for $1 million, and is finally financially independent. Living a frugal life, should this cleaner now put her money in the stock market? May 3rd
“I feel very lucky now but I endured a lot to get to financial independence,” Patty said. This includes working 60-hour weeks for most of her life, bouncing from home to home to help raise children, cook and clean..... More »
Your Next Home May Be in the Metaverse Jul 7th
Krista Kim’s dream home didn’t exist, so she built it herself—in the metaverse. In 2020, cooped up with her two kids in a Toronto condo during the Covid lockdown, the digital artist began designing her perfect escape, leaving no detail overlooked. She sketched out a glassed-walled bungalow vil.... More »
Carney government proposal targets extinction protections for endangered killer whales off B.C. coast + MORE May 14th
The orcas have been affected by shipping traffic causing physical and acoustic disturbances, pollutants and declining food stock..... More »
PC Optimum points: How to maximize your rewards in 2023 + MORE Jul 25th
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PC Optimum points: How to earn, redeem and maximize your rewards in 2023
If you frequently shop at Loblaw-affiliated stores, the right PC Financial Mastercard or a PC Money Account can help you earn serious PC Optimum points.
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Types & Benefits of Current Accounts
– investitwisely.com
A current account is a type of bank account used for deposit and financial management. You can open a personal current account or a business one to facilitate payments (direct debits, standing orders) while allowing other people, businesses, and organizations to make payments easily as well. A current account enables finance matters to work smoothly.Most businesses (or businessmen for that matter) open current accounts as they have a higher number of transactions with the bank, which includes deposits, withdrawals, as well as contra transactions. It is also referred to as a Demand Deposit Account.
A current account is typically opened through banks. Any amount can be deposited and withdrawn at any time with a current account without giving any notice. It’s also appropriate for making payments to creditors via cheques. Cheques from customers can be deposited in this account for collection.
Now here are the basic current account types and their general benefits.
Basic current account types
Regular…
