The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
Latest News
What Are Credit Card Grey Charges? + MORE Sep 30th
A few months ago, I signed up for a free one-month trial of Netflix. I decided later that I would cancel it at the end of the month because I barely used it. But then I got busy and completely forgot about it – or I did until I saw the charge on my credit card for the next month.
$7.99 isn’.... More »
Canada’s bank CEOs get 7% pay raise to earn $53.6 million in fiscal 2017 + MORE Mar 14th
TORONTO _ The chief executives of Canada’s five biggest banks collectively earned roughly $53.6 million in the latest fiscal year, up more than seven per cent from a year earlier.
But it was a particularly good year for Toronto-Dominion Bank’s chief executive Bharat Masrani, who got a mo.... More »
Tracking Receipts with the UGO Mobile Wallet + MORE Jul 19th
There’s been a lot of innovation in the banking space lately, an area that is typically resistant to change. Just recently, the big banks got on board and started offering Apple Pay. Now, innovators have introduced the UGO Mobile Wallet.
Today smartphones are so much more than just a phone. Users.... More »
Unsecured or Secured Credit Cards – What’s the Difference? May 10th
Are you looking for secured credit cards? Not sure if you should open a secured or unsecured card? If you’re rebuilding your credit score, a secured credit card can help you get your credit back on track. An unsecured credit card requires you to have established credit and can often include t.... More »
The best TD credit cards in Canada Apr 30th
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The best TD credit cards in Canada
We’ve broken down our picks for the best TD credit cards – whether you’re looking for cash back, points, no-fee cash back, or low interest.
Compare now
Wh.... More »
Debit Fraud Drops Drastically in Canada
– ratesupermarket.ca
Last year, I wrote a blog post about debit fraud: A $38.5-Million Problem. The good news is that the figure has dropped to $16.2 million in 2014. The bad news; you always have to be wary of scammers, electronic pickpockets, and other crooks looking to steal your money.
Technical Advances
The Interac Association attributes much of that drop to the almost-complete rollout of “chip and pin” technology – debit and credit cards with an embedded memory chip that require the user to enter a personal identification number (PIN).
Since their introduction to Canada in 2009, virtually every Canadian debit card has been switched over to chip and pin (from the lower-tech cards where the user signed for all purchases). By the end of 2015, all point-of-sale debit card readers in the country will be chip and pin-enabled as well.
Another way the industry keeps fraud rates down, while still enabling easy-to-use tap payment options (such as PayPass), is to maximize individual transactions at $100 and a daily cap of $200 before entering a PIN is required…
Detached Homes Price Tops $1 Million in Toronto
– ratesupermarket.ca
What can you get with $1 million these days? Well, in Toronto that might net you a single family home. Last week the Toronto Real Estate Board announced the average detached homes price hit $1,040,018 in February.
When I was a kid living in a million-dollar house meant something.
You were rich.
You probably had a mansion.
You took luxury vacations and drove fancy cars.
Now it seems there’s a Millionaires Row in most neighbourhoods across Toronto. But residents of these homes are dealing with record amounts of debt. Many might take the bus to work. And nobody is going on a luxury holiday.
If you say you’re house is a worth a cool seven figures, I’m not impressed anymore.
Interest Rates Driving Pricey Real Estate
It’s no surprise that after the Bank of Canada cut the overnight lending rate, borrowing got cheaper. Banks followed by slashing prime to 2.85 per cent, allowing Canadians to get into more debt for less. With Toronto less affected by the slide in oil prices, residents are feeling good about the future…
Detached Homes Price Tops $1 Million in Toronto
– ratesupermarket.ca
What can you get with $1 million these days? Well, in Toronto that might net you a single family home. Last week the Toronto Real Estate Board announced the average detached homes price hit $1,040,018 in February.
When I was a kid living in a million-dollar house meant something.
You were rich.
You probably had a mansion.
You took luxury vacations and drove fancy cars.
Now it seems there’s a Millionaires Row in most neighbourhoods across Toronto. But residents of these homes are dealing with record amounts of debt. Many might take the bus to work. And nobody is going on a luxury holiday.
If you say you’re house is a worth a cool seven figures, I’m not impressed anymore.
Interest Rates Driving Pricey Real Estate
It’s no surprise that after the Bank of Canada cut the overnight lending rate, borrowing got cheaper. Banks followed by slashing prime to 2.85 per cent, allowing Canadians to get into more debt for less. With Toronto less affected by the slide in oil prices, residents are feeling good about the future…
