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
Can Santander take on Canada’s Big Six? Why the global bank may face hurdles + MORE Dec 18th
It’s not every day, or even every decade, that a big foreign bank decides to have a go at Canada’s retail banking market.
But Spain’s Banco Santander—which has already shown an ability to attract customers, with more than 168 million of them worldwide—is poised to be among the few that .... More »
Making sense of the markets this week: March 19, 2023 Mar 17th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Why are banks suddenly folding?
The big news of the week was, of course, that the 12th biggest bank in the U.S.A.—Silicon Valley .... More »
Stock news for investors: Big gains for Canada’s banks in Q1 Feb 27th
Here’s a round-up of news for Canadian investors this week.
Scotiabank
EQB
National Bank
BMO
RBC
TD
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savin.... More »
Should you get that promo rate? Check out the fine print first Oct 19th
Some banks entice Canadians to open new accounts with the offer of a high but short-lived promotional interest rate. A generous interest rate might catch your eye, but there are a few things you should ask yourself before you sign up for a new chequing or savings account.
Should you switch bank a.... More »
Canadian banks earnings reports Aug 28th
Big Bank earnings reports highlights
The third-quarter results are in.
National Bank of Canada (NA/TSX): Earnings per share of $2.68, and revenues of $3 billion.
Royal Bank of Canada (RY/TSX): Earnings per share of $3.09, and revenues of $14.63 billion.
Bank of Montreal (BMO/TSX): Earnings.... More »
Getting paid in bitcoin: What you need to know
– moneysense.ca
Would you want to be paid in bitcoin? As bitcoin and other cryptocurrencies become more mainstream, your employer might one day give you the option. And if you’re self-employed, you might consider taking payments in crypto—if you can stomach its volatility. Younger generations, in particular, are open to the idea: According to a November 2021 survey by deVere Group, more than a third of millennials and half of Gen Z “would be happy to receive 50% of their salary in bitcoin and/or other cryptocurrencies.”
Adam Charbonneau, owner of AJ’s Plumbing & Heating in the northern Ontario town of Iroquois Falls, has been allowing clients to pay him with bitcoin since May 2021. “I have a strong feeling crypto will take over our finance system as we know it,” he says. “And it’s another option for payment for my customers. It’s fast and secure. I personally prefer that to getting a cheque.”
Charbonneau also likes that bitcoin transactions can be much larger than e-transfers from banks, whose limits range from $3,000 to $5,000 in a 24-hour period…
