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.
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At midday: TSX dragged lower as financials lead declines; energy gains Jul 18th
Banks drag S&P, Dow lower; Netflix leads Nasdaq higher
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Italian, Irish, Spanish banks do worst in EU stress test Jul 30th
The EBA test looked at how banks could withstand a three-year theoretical economic shock
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The GTA’s top neighbourhoods + MORE Apr 12th
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Overview
Vancouver
Victoria
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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 »
Switching to a better bank account Dec 16th
Almost every adult Canadian has a bank account, according to the Canadian Bankers Association. And there are practical reasons for that: most of us need a bank account to cover rent or mortgage payments, receive paycheques and to maintain our lifestyles.
But what if you’re looking for a bank acc.... More »
The Inconvenient Truth About Credit Card Convenience Cheques
– ratesupermarket.ca
Credit card convenience cheques, often sent out as promotional materials by credit card companies, are now a thing of the past for consumers who do not directly request them, according to new requirements for federally regulated financial institutions.
We have all received these cheques in the mail, especially when we’re issued a new card. The company will encourage card holders to use the cheques to transfer balances and pay bills under the guise that they are just like the cheques you use from your personal bank account. However, these cheques work in very different ways, carrying hefty interest charges. It’s important that users be aware of how they work signing their name at the bottom.
How Do Convenience Cheques Work?
When the cheque is cashed the money requested is added to your credit card balance and will appear on your next statement. You fill in the cheques like you always would, but unlike a regular chequing account you are guaranteeing that the credit, rather than the direct funds, are available…
