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
Canadian banks eyeing low-cost robo-adviser industry to attract millennials Apr 1st
TORONTO – Canada’s financial services industry is set for a shakeup, and some of the country’s biggest banks are taking note.
Fed up with pricey mutual funds, a growing number of Canadian investors are turning to robo-advisers, low-cost online investment managers. Tech-savvy millen.... More »
Banks’ bad behaviour won’t change until executives do the perp walk + MORE Nov 14th
Unless senior executives are put on criminal trial or, at a minimum, marched out the door in shame, rid of their lavish bonuses and corporate golf-club memberships, the rotten culture of the banks will not change
.... More »
Is Your Credit Score Mortgage Ready? + MORE Jun 5th
May and June are the busiest months for real estate in Canada – and that means home buyers are currently out in full force. It also means many prospective buyers are visiting their lenders, and asking for mortgage financing for their new dream home purchase. However, a new BMO study finds the.... More »
'Open banking' holds promise but cybersecurity fears loom for Canadian banks + MORE Nov 30th
Customers have increasingly moved away from physical bank branches towards online and mobile apps, but banking has yet to reach its 'Uberization'" moment, one that breaks down traditional models to usher in new innovations, as Uber has done for the taxi industry..... More »
How Do Travel Rewards Work on a Credit Card? Jan 11th
So, you want to take a dream vacation. Is it worth it to rack up charges on your travel rewards credit card? This can be an excellent way for you to save money, but only if you can maintain a reasonable level of spending and pay off your debt in full each month. If you stay on top of your spending .... More »
European Central Bank to identify weak banks; step considered key to eurozone recovery
– canadianbusiness.com
FRANKFURT – The European Central Bank says it will reveal the results of its much-awaited review of bank finances on Sunday, Oct. 26.
The exercise is an attempt to purge so-called zombie banks that are too troubled to make new loans and support the struggling eurozone economy.
The idea is that the review will force weak banks to either fix their finances or be restructured or sold — and help growth.
The ECB will say which of 130 big banks need more capital as a buffer against losses, based on a review of their finances and on stress tests of how they would fare during economic turmoil.
The ECB said Friday that banks that flunk will have two weeks to say how they intend to raise more capital.
The post European Central Bank to identify weak banks; step considered key to eurozone recovery appeared first on Canadian Business.
The exercise is an attempt to purge so-called zombie banks that are too troubled to make new loans and support the struggling eurozone economy.
The idea is that the review will force weak banks to either fix their finances or be restructured or sold — and help growth.
The ECB will say which of 130 big banks need more capital as a buffer against losses, based on a review of their finances and on stress tests of how they would fare during economic turmoil.
The ECB said Friday that banks that flunk will have two weeks to say how they intend to raise more capital.
The post European Central Bank to identify weak banks; step considered key to eurozone recovery appeared first on Canadian Business.
Retirement 100 all-stars
– moneysense.ca
How we came up with the grades
Canada's 100 best dividend stocks
Retirement 100 all-stars
How much will you make in retirement?
We were pleased to see Power Financial (PWF) and the Bank of Montreal (BMO) get top grades again this year, as they did in 2013. Both offer dividend yields approaching 4% and trade at price-to-earnings ratios of just under 13, which is quite low compared to most Canadian stocks.
Three big banks earned solid ‘B’s this year—they are the Bank of Nova Scotia (BNS), CIBC (CM), and TD Bank (TD). Of the bunch, TD offers the lowest yield (at 3.3%) but it has also grown its dividend the most over the last five years.
Insurance firms were popular B-listers too, with Industrial Alliance Insurance (IAG), and Genworth MI Canada (MIC) getting the nod. Genworth is the cheapest of the two on a price-to-book-value basis (at 1.1 times), which reflects the market’s unease with its mortgage insurance business.
Other B-graders include ATCO (ACO.X) and Emera (EMA), which are classified as utilities…
Serve Up Thanksgiving Savings!
– ratesupermarket.ca
Autumn is in full swing, and with it, the Thanksgiving long weekend. For many Canadians, this kicks off one of the most expensive times of year, as holiday consumerism kicks into high gear. But you don’t need to rely on your credit card to be festive – we’ve got a few juicy tips for carving out some savings this season, from spending less on a turkey, to taking advantage of record low mortgage rates.
Read on for the full story – and have a wonderful holiday long weekend!
How to Cook a Turkey for Under $10
Are you hosting the family for dinner this Thanksgiving? Cooking up the big bird and all the fixings can be a pricey ordeal – but we have a few seasoned tips and tricks for keeping your cooking costs down.
Read on for Melissa’s fail-proof turkey shopping guide and mouth-watering recipe.
Read Melissa’s Blog | How to Cook a Turkey for Under $10
Nothing Spooky in Store for October Mortgage Rates
Our expert Mortgage Rate Outlook Panel has released their forecast for the coming month – and there’s nothing to fear for mortgage borrowers…
Read on for the full story – and have a wonderful holiday long weekend!
How to Cook a Turkey for Under $10
Are you hosting the family for dinner this Thanksgiving? Cooking up the big bird and all the fixings can be a pricey ordeal – but we have a few seasoned tips and tricks for keeping your cooking costs down.
Read on for Melissa’s fail-proof turkey shopping guide and mouth-watering recipe.
Read Melissa’s Blog | How to Cook a Turkey for Under $10
Nothing Spooky in Store for October Mortgage Rates
Our expert Mortgage Rate Outlook Panel has released their forecast for the coming month – and there’s nothing to fear for mortgage borrowers…
