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
The best GIC rates in Canada for 2024 Jun 5th
Investing
The best GIC rates in Canada
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Compare now
Why trust us
MoneySense is an award-winning magazine,.... More »
UK stock market hit by nerves over US banks - BBC + MORE Oct 17th
UK stock market hit by nerves over US banks BBCGlobal bank stocks waver as investors fear credit risks in U.S. regional banks CBCStocks Rise as Trump Reassures on China, Regional Banks Report Bloomberg.comStock market today: Dow, S&P 500, Nasdaq futures sink as c.... More »
Oil pipeline opponents target energy companies’ financing, to mixed results May 14th
Efforts to persuade banks to stop supporting oil pipeline projects doesn’t seem to have hurt energy companies broadly, but activists say financial institutions are becoming more aware of Indigenous rights
.... More »
The Exchange Brings No-Fee ATMs To Smaller Banks and Credit Unions + MORE Aug 3rd
There used to be a really good reason for not switching from a big bank to a smaller one: convenience. Belonging to the BMOs and CIBCs of the world meant that accessing your cash without paying a fee was as simple as a walking a block to your next bank ATM or branch location. Having accounts with .... More »
The best rewards credit cards in Canada for 2023 + MORE Nov 23rd
Spend
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*
.... More »
Do you need mortgage life insurance?
– moneysense.ca
Q: 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?—KaterinaA: I’m glad that you noticed the life insurance you’re paying on your mortgage, Katerina. Many people don’t even know if their mortgage is insured or not in the first place. Click on your mortgage when online banking or check your most recent mortgage statement and you will most likely notice a reference to your mortgage being protected or insured or potentially not protected or not insured.
This insurance coverage is typically a combination of life insurance and disability insurance. In the event of death, the life insurance component of the policy pays off the outstanding mortgage. In the event of disability, the disability insurance component of the policy makes your regular payments.
Banks are prohibited from selling most types of insurance in their branches other than life and disability insurance on credit products…
How Would the Fed Raise Rates?
– online.wsj.com
With banks chock full of excess reserves, the federal-funds rate may prove useless as a tool to drain liquidity.Video: Tim Kiladze on why banks want more women on their boards
– theglobeandmail.com
Globe and Mail reporter Tim Kiladze joins Catherine Murray for his take on the latest earnings from the Bank of Nova Scotia and Bank of Montreal as well as the banks efforts to increase the number of women on their boards of directors
