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.
Latest News
New mortgage rules sending borrowers to alternatives Feb 7th
TORONTO — Mortgage brokers say the borrower rejection rate from large banks and traditional monoline mortgage lenders has gone up as much as 20 per cent after Canada’s banking regulator imposed a new stress test for home buyers who don’t need mortgage insurance.
As a result, alternativ.... More »
Swiss bank Julius Baer reaches deal in principle to settle US tax dispute, sets aside $547M + MORE Dec 30th
BERLIN – Swiss bank Julius Baer says it has reached an agreement in principle to settle a dispute over dealings with U.S. clients, and is setting aside $547.25 million to cover the costs.
Julius Baer was one of several Swiss banks that came under pressure in recent years over allegations they .... More »
The best no-fee credit cards in Canada for 2024 May 17th
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The best no-fee credit cards in Canada for 2024
From cash back to rewards points (and perks like no foreign transaction fees), here's a list of Canada's best no fee cards.
Compare now
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What Is a Credit Union? The Pros and Cons vs a Bank Aug 13th
In recent years, there has been a lot of backlash against banks over fees and practises that has left Canadians looking for a place to keep their money that isn’t associated with big banks.
One of the options you have is to choose a credit union. Credit unions are different from banks, and som.... More »
Central bank interest rate hikes begin to squeeze indebted consumers - Vancouver Sun + MORE Sep 7th
Vancouver SunCentral bank interest rate hikes begin to squeeze indebted consumersVancouver SunAnother house sold in Vancouver: Analysts say the future of the Metro market depends on the success of China's efforts to crack down on export of capital. Jonathan Hayward / THE CANADIAN PRESS. Share A.... More »
Banks Should Do a Better Job Teaching Canadians About Money: Survey
– ratesupermarket.ca
Canadians are finding it harder than ever to save money, and they believe banks should do a better job of teaching them how, according to a recent poll from a group of credit unions.
The study found six in 10 Canadians said their current level of debt does not allow them to save as much as they would like, with three in 10 (31 per cent) unable to save any money at all.
Household Debt Rises, Personal Saving Plummet
Schools educate youth about geography, history and mathematics, but when it comes to financial literacy we’re on our own. While household debt continues to climb, the personal savings rate is shrinking. The average Canadian household owes $1.63 for every dollar in disposable income earned, according to Statistics Canada.
“In the last 20 years, the personal savings rate in Canada has plummeted while household debt has grown dramatically,” explains Marie Mullally, president and chief executive officer of Credit Union Atlantic. “More needs to be done to develop innovative options to help Canadians and their families develop healthy financial habits that will allow them and our economy to thrive…
Look Beyond Sign Up Bonuses – BMO World Elite MasterCard Review
– ratesupermarket.ca
Would you sign up for a travel rewards card if it meant you could fly right away for free? Massive point and mile sign-up bonuses are the latest favoured incentive from credit card companies, keen on luring customers with the promise of an instant vacay.
While complimentary jet setting is an attractive idea, it’s important for prospective cardholders to look beyond sign up perks and asses the real value offered by a card over time. Be sure to ask yourself the following when choosing a credit card:
Is it a good fit for my spending habits?
Is there an annual fee?
Will it earn rewards quickly and with few restrictions?
What is the value of one reward?
How convenient is it to redeem rewards?
Penelope’s Pick: BMO® World Elite™ MasterCard®*
This premium option from Bank of Montreal really is a winner across the board; not only are new signups welcomed with a hefty 30,000 point bonus (a $300 travel value), this card offers a fast-earning and flexible rewards program that’s designed for daily use…
Banks Should Do a Better Job Teaching Canadians About Money: Survey
– ratesupermarket.ca
Canadians are finding it harder than ever to save money, and they believe banks should do a better job of teaching them how, according to a recent poll from a group of credit unions.
The study found six in 10 Canadians said their current level of debt does not allow them to save as much as they would like, with three in 10 (31 per cent) unable to save any money at all.
Household Debt Rises, Personal Saving Plummet
Schools educate youth about geography, history and mathematics, but when it comes to financial literacy we’re on our own. While household debt continues to climb, the personal savings rate is shrinking. The average Canadian household owes $1.63 for every dollar in disposable income earned, according to Statistics Canada.
“In the last 20 years, the personal savings rate in Canada has plummeted while household debt has grown dramatically,” explains Marie Mullally, president and chief executive officer of Credit Union Atlantic. “More needs to be done to develop innovative options to help Canadians and their families develop healthy financial habits that will allow them and our economy to thrive…
