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
Slow growth, rising expenses forcing banks into cost-cutting action + MORE Dec 5th
Financial stocks fall as CIBC, TD report expense growth that outpaces revenues; TD cites need to ‘increase efficiency’
.... More »
What is a consumer proposal? How does it work? + MORE May 23rd
Getting trapped in a perpetual cycle of debt with seemingly no way out is one of the most stressful situations life can throw at you. For anyone looking for a way forward, experts say a consumer proposal can break the chain without the need for a bankruptcy filing.
While everyone’s debt toleran.... More »
What is a Secured Credit Card and How Does It Work? Jun 28th
A good credit history is important for everyone. It’s a gateway to more borrowing options and the basis of a positive financial future. But what if you have no credit, or some unfortunate marks on your record make it hard to get a new card?
That’s where a secured credit card may come in.... More »
United, Iberia airlines pull out of Nigeria; funds blocked Jun 8th
LAGOS, Nigeria – U.S. airline United and Spain’s Iberia are pulling out of Nigeria as the government is urged to release more than $600 million in air ticket sales blocked by the West African nation’s chronic foreign currency shortage.
The International Air Transport Association.... More »
China-led Asian infrastructure bank opens for business + MORE Jan 16th
BEIJING, China – China-led Asian Infrastructure Investment Bank is officially open for business after a formal ceremony led by Chinese President Xi Jinping.
Representatives from 57 member countries attended the event Saturday, when China announced it would pledge $50 million to a special fund .... More »
Could This Be The End of Credit Card Interchange Fees?
– ratesupermarket.ca
Did you know – each time a credit card is used to make a purchase in-store, a fee is charged to the merchant? Ranging from 1.5 per cent to 4 per cent, these charges – known as interchange fees – have long been a point of contention among retailers. The issue has plagued the Conservative government for many years and, after announcing it would be addressed in the last Throne Speech (and with the federal election looming in 2015), the Tories are taking action. Or at least, they’re trying to.
What is Being Discussed
The federal government is asking for a voluntary reduction of credit card interchange fees by 10 per cent. With MasterCard and Visa owning over 90 per cent of the credit card market, the negotiations are ongoing.
MasterCard and Visa don’t benefit directly from interchange fees – it’s the big banks that are earning a tidy sum. MasterCard and Visa are vehemently opposed to regulation, saying there’s no proof that the savings will be passed along by retailers to consumers…
Could This Be The End of Credit Card Interchange Fees?
– ratesupermarket.ca
Did you know – each time a credit card is used to make a purchase in-store, a fee is charged to the merchant? Ranging from 1.5 per cent to 4 per cent, these charges – known as interchange fees – have long been a point of contention among retailers. The issue has plagued the Conservative government for many years and, after announcing it would be addressed in the last Throne Speech (and with the federal election looming in 2015), the Tories are taking action. Or at least, they’re trying to.
What is Being Discussed
The federal government is asking for a voluntary reduction of credit card interchange fees by 10 per cent. With MasterCard and Visa owning over 90 per cent of the credit card market, the negotiations are ongoing.
MasterCard and Visa don’t benefit directly from interchange fees – it’s the big banks that are earning a tidy sum. MasterCard and Visa are vehemently opposed to regulation, saying there’s no proof that the savings will be passed along by retailers to consumers…
