Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
Chequing vs. Savings Account: What’s the Difference? Oct 2nd
When it comes to managing your finances, using the correct type of bank account is very important. But while the differences between a chequing account and a savings account may seem obvious to some, you would be shocked at the number of people who use their savings accounts for daily transactions o.... More »
Generational shift brings competition to Canada’s banks Dec 21st
Canadians who watched the World Series this year might have caught a second high-stakes clash going on between plays. RBC, the country’s most valuable bank, ran ads that had actor Will Arnett touting trust and real people over fads, while scrappy EQ Bank and crypto giant Coinbase Inc. had spo.... More »
Before It’s Too Late! Best Credit Card Welcome Offers of March 2020 Mar 2nd
New cardmembers can score additional cash back, or points from great welcome offers, and earn that trip or reward that much sooner. But will you actually qualify for that extra 35,000 bonus points? How much extra cash back might you see before the promotion expires? We’ve made it easy for you and.... More »
At the open: TSX flat as energy stocks fall, banks push higher + MORE Jan 18th
Strong China data cranks up pressure on bond markets
.... More »
RBC cutting 15 investment banking jobs in London: sources + MORE Sep 30th
Investment banks around the world have been grappling with a reduction in activity so far this year
.... More »
Ruling To Determine Future of Credit Card Swipe Fees in Canada
– ratesupermarket.ca
A ruling by the Federal Competition Tribunal this Tuesday will decide whether merchants have the right refuse acceptance of some premium credit card types or impose fees on consumers who pay with them.
The ruling targets the practices of credit card giants MasterCard and Visa, who impose these fees on merchants when processing credit card payments made with high reward or point-earning credit cards. While the fees are put in place to cover the cost of paying those rewards out to the consumer, they also force retailers to incur an additional cost when accepting these methods of payment, known as “swipe charges”. Not only are these charges especially daunting for small businesses, they have also forced some merchants to increase the costs of their goods and services – ultimately hitting consumers in the pocketbook.
A Long Standing Issue
The complaint was first registered with the Tribunal in 2012 by Canada’s Commissioner of Competition, but this has long been a sore spot between retailers and the credit card companies…
A U.S. Senate banking committee begins looking Tuesday at whether big American banks can both trade commodities and hold physical assets related to shipping oil and metals.
Check Insurance Coverage When Car Sharing
– ratesupermarket.ca
As gas prices continue to climb, the average annual cost of driving even a small car is now somewhere around $10,000, according to the Canadian Automobile Association.
So it’s not surprising that thousands of Canadians carpool to work or school, both to save money and preserve their vehicles. In fact, car ownership is making less and less sense to many people, especially those who live in the city and can bike or grab a bus.
And yet, there are times when having a car – or at least access to one – is still a bit of a must. That’s why more and more urban drivers are looking at car-sharing services that allow drivers to rent cars by the day, or even the hour.
Editor tip: If you’re looking to save even more on gas, try using a gas rewards or cash back rewards credit card when filling up. A great option is the MBNA Smart Cash Master Card credit card, which awards up to five per cent cash back for the first six months (up to two per cent after that) on gas and grocery purchases…
