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
As fees rise, banks count on your complacency: Mayers Aug 4th
When banks make changes to fee packages it is often hard to compare old with new. They’re counting on your inertia..... More »
How to Spot Credit Card Fraud and What You Can Do to Prevent It May 29th
Credit card fraud comes in various forms and can cause a lot of damage to both your balance and your credit score. Often thieves only get away with a few hundred dollars, but sometimes they can manage to steal thousands. And when they do, it can take hours of hard work and communication to unravel .... More »
Three Things to Expect from Rising Interest Rates in 2019 + MORE Dec 19th
Are they going to increase? By how much? And how will that affect me?
As we reflect on the past year, one of the big money stories everyone is talking about is the rise of the key interest rate. In 2018, the Bank of Canada (BoC) raised the overnight lending rate three times from 1.00 per cent to 1.... More »
Canadian banks argue against Canada Post getting into banking Jul 14th
The lobby group representing Canada's big banks says there's no need for Canada Post to expand onto their turf because Canadians already have an abundant choice of financial services..... More »
TSX retreats 129 points, Wall Street sees red + MORE Mar 21st
Canada's main stock index fell as declines in banks, airlines and energy stocks dragged heavily on the market..... More »
CIBC – TD Aeroplan Transition: Customers Speak Out
– ratesupermarket.ca
Last summer, CIBC announced the sale of roughly 550,000 of its Aeroplan credit card customers to TD in a three-way agreement between the two lenders and rewards provider Aimia. As of June 16th, the official transition for affected cardholders was complete – however, nearly a month later, many of these customers remain mired in transitional loose ends, calling TD to task for issues with accessing new cards, failing technology and all-around confusing customer service.
It’s the latter that has especially incensed transitioned cardholder Tom Smith, a former CIBC customer switched to the TD Aeroplan Visa Infinite. While he feels that his new card is “close to equivalent” in features to his old one, “the key differentiator in my view is the customer service, which in my opinion, is very poor.”
Granted, such a large-scale operation is sure to experience some blips – and it’s been reported that TD amped up their customer service team in preparation of the transition. They’ve also provided a public forum - meant for customers to report issues and inquire about new processes – that has since filled with transitional rants…
It’s the latter that has especially incensed transitioned cardholder Tom Smith, a former CIBC customer switched to the TD Aeroplan Visa Infinite. While he feels that his new card is “close to equivalent” in features to his old one, “the key differentiator in my view is the customer service, which in my opinion, is very poor.”
Granted, such a large-scale operation is sure to experience some blips – and it’s been reported that TD amped up their customer service team in preparation of the transition. They’ve also provided a public forum - meant for customers to report issues and inquire about new processes – that has since filled with transitional rants…
