Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
7 Ways to Get a Bank Account for Cheap + MORE Jul 25th
When it comes to setting up your own bank account, some may feel more comfortable with the familiar. Maybe your parents set up a youth account for you with their bank and you haven’t branched out yet (no pun intended). Or, perhaps, you’re wary of financial security outside of the big five banks.... More »
The best GIC rates in Canada for 2026 May 25th
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 »
BMO stops allowing credit and debit cards for cryptocurrency purchases Mar 16th
TORONTO _ The Bank of Montreal has stopped allowing customers to use its credit cards to buy cryptocurrency such as bitcoin.
The bank says it no longer allows retail consumers to buy cryptocurrencies using Mastercard-branded credit or debit cards.
The bank’s decision follows a move by TD Bank .... More »
BOJ’s Kuroda warns low rates may sow seeds of new financial crisis Feb 16th
Bank of Japan Governor offers his strongest warning to date of the demerits of aggressive monetary easing pursued by major central banks
.... More »
Ratings agency Moody’s downgrades several ratings for CIBC Mellon Trust + MORE Nov 15th
TORONTO – Moody’s Investors Service has downgraded its ratings for CIBC Mellon Trust, a Toronto-based trust company jointly owned by the Canadian Imperial Bank of Commerce (TSX:CM) and the Bank of New York Mellon.
Moody’s said Friday that it has reduced CMT’s stand-alone bank.... More »
4 In 10 Canadians Find Travel Rewards Credit Cards Confusing: RBC
– ratesupermarket.ca
Are you frustrated by the travel rewards offered by your credit card? You’re not alone. Over half of Canadians (56 per cent) say their travel rewards credit cards don’t let them travel on the airline they desire, according to a recent poll by RBC.
Whether you’re a snowbird looking to soak up the rays in coastal Florida, or a university student looking to spend spring break in Sin City, it can be very frustrating when you can’t book the flight to the destination you want. So what’s the secret to a healthy travel rewards relationship?
Credit Card Rewards Are Confusing
Limitations on the airlines and destinations aren’t the only thing Canadians are up in arms about. Nearly four in 10 of poll takers (39 per cent) said their rewards program is confusing, while 38 per cent said the programs rules kept changing, and nearly a third (31 per cent) had issues when it came time to redeem those hard-earned points for a five star vacation. Similar to relationships with loved ones, there comes a time when enough is enough and it’s time to move on…
