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
Deutsche Bank: No plan to pay $14B Justice Dept. settlement + MORE Sep 16th
Deutsche Bank AG says it does not intend to pay $14 billion to settle civil claims with the U.S. Department of Justice for its handling of residential mortgage-backed securities and related transactions.
The bank confirmed Friday in a statement that the Justice Department had proposed a settlement o.... More »
Big Banks Are Now Offering Apple Pay + MORE May 12th
Apple Pay is making more inroads into Canada. Two of Canada’s biggest banks, CIBC and RBC, say starting now, customers with Interac debit cards and Visa and MasterCard credit cards issued through them, can use the Wallet App to load card information and then make purchases that will be charged b.... More »
Greek banks reopen as Tsipras eyes return to normal - Reuters Canada + MORE Jul 20th
Reuters CanadaGreek banks reopen as Tsipras eyes return to normalReuters CanadaATHENS (Reuters) - Greeks queued outside banks on Monday as they reopened three weeks after closing to stop the system collapsing under a flood of withdrawals, the first cautious sign of a return to normal after a deal to.... More »
Willie Sutton Could Have Been a Regulator + MORE Aug 17th
A New York contretemps shows how the war on the banks has become a revenue shakedown..... More »
Raging River searches for relevance in a mean market Mar 6th
Best known for its operations in the Viking light-oil formation in western Saskatchewan and eastern Alberta, the company said it has hired investment banks to help it study a “strategic repositioning”
.... More »
65% of Banking Customers Want Better No-Fee Options
– ratesupermarket.ca
The biggest banking woe of Canadians isn’t branch hours or interest rates – but fees.
According to recent research by Leger for Presidents Choice Financial, 71 per cent of people see bank fees are their number one frustration when it comes to banks, followed by surprise costs (42 per cent) and time spent waiting for service (25 per cent).
Customer Frustration is Growing
Those fees are earning banks a dismal score from consumers. Seventy nine per cent of the nearly 3,000 Canadians polled for the research said that a good bank is one that saves them money or offers no fee banking – but only 35 per cent feel that their bank is offering solutions.
In a statement released by PC Financial: “Canadians are busier than ever and are looking for ways to make daily life simpler and more affordable, but banking is becoming more complex, and more expensive. It’s no wonder that bank fees are one of the top frustration for Canadians.”
Look For No Fee Alternatives
It’s not impossible to find a bank that offers low fees…
What Europe Can Learn From the U.S. Bank Crisis
– online.wsj.com
Stress tests will not be credible until the European Stability Mechanism can directly recapitalize banks.65% of Banking Customers Want Better No-Fee Options
– ratesupermarket.ca
The biggest banking woe of Canadians isn’t branch hours or interest rates – but fees.
According to recent research by Leger for Presidents Choice Financial, 71 per cent of people see bank fees are their number one frustration when it comes to banks, followed by surprise costs (42 per cent) and time spent waiting for service (25 per cent).
Customer Frustration is Growing
Those fees are earning banks a dismal score from consumers. Seventy nine per cent of the nearly 3,000 Canadians polled for the research said that a good bank is one that saves them money or offers no fee banking – but only 35 per cent feel that their bank is offering solutions.
In a statement released by PC Financial: “Canadians are busier than ever and are looking for ways to make daily life simpler and more affordable, but banking is becoming more complex, and more expensive. It’s no wonder that bank fees are one of the top frustration for Canadians.”
Look For No Fee Alternatives
It’s not impossible to find a bank that offers low fees…
