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
AP Source: China’s Sina plans New York IPO for Weibo microblog that would raise $500 million + MORE Feb 25th
HONG KONG – Chinese internet company Sina Corp. plans to spin off its Twitter-like microblog service, Weibo, in a U.S. initial public offering to raise $500 million, a person with knowledge of the deal said Tuesday.
The person, who requested anonymity because they weren’t authorized to s.... More »
Fighting Back Against Fees + MORE Aug 7th
When it comes to hidden surcharges and fees, Canadians are seeing red – and it’s no wonder, as our nation’s big banks have amped costs and cut back on services, according to a recent study. But it’s not all bad news – an ATM network provided by Canada’s alternative lenders and c.... More »
How does interest work in a savings account? Sep 10th
Do you know how interest rates work when it comes to your bank account? If not, you’re not alone. Nearly four in 10 Canadians surveyed don’t fully understand it, according to research by Angus Reid on behalf of PC Financial.
When you hold money in a savings account, interest is money you rece.... More »
Do you need mortgage life insurance? Sep 22nd
Ask MoneySense
I am a single, 70-year-old with a reasonable mortgage of $115,000. I have no family and no dependants. I find that the life insurance on my mortgage is too expensive. Do I need mortgage life insurance anyway? What for?
—Katerina
What is mortgage life insurance?
I’m glad.... More »
The best rewards credit cards in Canada for 2023 + MORE Nov 23rd
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The best rewards credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
Find my perfect card*
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How You Can Lose Your Home To Title Fraud
– ratesupermarket.ca
A few years ago, title fraud – previously unheard of – suddenly became a homeowner’s worst nightmare, as people discovered that their homes had been stolen from out beneath them. Fraudsters would steal a person’s identity, take out a new mortgage on a property, and then flee with the money. The homeowner would only find out something was wrong when collection agencies started calling about overdue payments on a mortgage they’d never asked for.
While statistically rare, mortgage fraud still happens. Here’s how to avoid it.
Prevent ID Theft
Title fraud begins with identity theft, so you should do everything you can to prevent it. The main thing to do is keep your private information private. Your employer is the only person you should trust with your social insurance number (SIN). Don’t use easy to decipher digits – such as your birth month and year or home address – as your PIN code for your bank and credit cards. Shred any financial records or documents before disposing of them…
