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
Play it safe and ask if your savings are protected Jan 9th
All of us expect our savings to be safe when we deposit them at the bank. However, although it’s rare, banks and other financial institutions in Canada can fail, so you might want to make sure your savings are protected. The next time you visit your branch or meet with your financial advisor, ask.... More »
Are ETFs a good investment for an all-weather portfolio? Dec 16th
For retirees and near retirees, it can sometimes seem like there’s no such thing as a “safe” investment—especially now. Even bonds and bond funds, typically considered the safest of investment—suffered losses in 2021, as interest rates were poised to rise. Now that central banks have said .... More »
Mortgage rates are rising + MORE Dec 9th
Mortgage rates have been so low, for so long, that it almost feels like they’ll never rise. Even the Bank of Canada’s latest decision to keep overnight target rates at 0.5% is the equivalent of saying: We’re keeping with the status quo.
But according to media reports banks have quietly .... More »
The Best Credit Cards for Shopping + MORE Mar 1st
By: Pira Kumarasamy
Credit card loyalty programs are a great way to stretch your hard-earned dollars even further by offering rewards for everyday purchases, and retailers are jumping on board.
RBC Rewards recently announced a partnership with Saks Fifth Avenue, and will offer 2 times the points wh.... More »
Should You Give Your Teen a Credit Card? Dec 16th
Over one-third of Canadians share a joint credit card with their partner, parent, or child, according to a recent survey conducted by Rates.ca. Among the parents who share their credit card with their children, 63% said that managing their children’s purchases is less difficult than it was two ye.... More »
Book Review: Travel Hacking for Canadians by Stephen Zussino
– ratesupermarket.ca
Are you fed up with paying more for less when it comes to travelling? You’re not alone; while the cost of airline tickets continues to rise, customers are losing the perks that were once commonplace. Air travel today means being packed like sardines into airplanes with not enough legroom. You don’t even get a free bag of peanuts anymore! To top it all off, customers are being hit with a slew of new fees – just last month Air Canada and WestJet announced plans to introduce a new $25 for the first checked bag.
What is Travel Hacking?
If you’re unfamiliar with the term “travel hacking”, the concept is simple: it’s about bringing the cost of travel as close to zero as possible. Travel hacking is about fighting back against big airlines who keep introducing new fees, which make air travel unaffordable for the average family. Being a travel hacker means constantly chasing miles, reward points and elite status. Through everyday purchases on your credit card, you can redeem your travel reward points towards free flights and hotels…
Top of the Morning
The Globe and Mail’s Tim Kiladze writes that OSFI’s push to have banks adhere to certain “broadly stated principles” might leave financial institutions yearning for strict, but specific, rules:
I can imagine that this gave the directors of financial institutions hives: here are some big ideas and suggestive words, and we will fine you if your interpretation of these words differs from ours. As a director charged with increasing responsibility in supervising financial institutions, freedom and control are good things, but clear rules are nice as well…
Principles tend to be flexible and consistent with policy purposes, while formal compliance with a set of rules doesn’t necessarily mean that you’re not going to engage in the harm that the rule was intended to prevent – take Enron and its rule-compliant “special purposes entities” that nonetheless obscured the true financial condition of the company. At the same time, rules help parties coordinate and predict each other’s behaviour…
Hackers tied to JPMorgan breach said to probe 13 financial firms
– theglobeandmail.com
It is now clear that perpetrators had attempted a broad campaign aimed at a payroll-servicing company, a popular stock brokerage and some of the world’s biggest banks
3 Malaysian banks merge to create Southeast Asia’s fourth-largest bank
– canadianbusiness.com
KUALA LUMPUR, Malaysia – Three Malaysian banks have announced plans for a merger to create Southeast Asia’s fourth-biggest commercial lender and an Islamic bank.
CIMB Group Holdings Berhad, RHB Capital Berhad and Malaysia Building Society Berhad said Thursday they have submitted the proposed merger to the country’s central bank.
If approved, the combined entity would pass Malayan Banking Berhad as the country’s biggest commercial bank.
The banks said in a joint statement that they hope to sign an agreement by early 2015 and complete the deal by mid-year.
The post 3 Malaysian banks merge to create Southeast Asia’s fourth-largest bank appeared first on Canadian Business.
CIMB Group Holdings Berhad, RHB Capital Berhad and Malaysia Building Society Berhad said Thursday they have submitted the proposed merger to the country’s central bank.
If approved, the combined entity would pass Malayan Banking Berhad as the country’s biggest commercial bank.
The banks said in a joint statement that they hope to sign an agreement by early 2015 and complete the deal by mid-year.
The post 3 Malaysian banks merge to create Southeast Asia’s fourth-largest bank appeared first on Canadian Business.
