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.
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A New Year Rate Hike + MORE Jan 8th
It has been a busy start to the new year – mortgage rates are up, stock markets are down, and that holiday credit card bill is looming. Is your wallet feeling the pressure yet? Start your year off with our top tips for paying holiday debt off fast, and catch up on this week’s breaking mortg.... More »
The best GIC rates in Canada for 2025 Jan 21st
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigat.... More »
How to Improve Your Credit Score – Maxing Out Your Credit Cards Edition Nov 11th
No one sets out to max out their credit cards. Sometimes, people get into this difficult situation because of an unexpected emergency such as losing their job or experiencing an illness. Many people have to rely heavily on credit cards during that time to cover their everyday expenses. For others, .... More »
The best TD credit cards in Canada in 2025 Apr 5th
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MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over .... More »
Bank fees for non-sufficient funds will be capped at $10—but not until next March Mar 21st
Ottawa has put in place new rules limiting the fees banks can levy on customers who don’t have enough in their accounts to cover a cheque or other pre-authorized charges.
The updates, included in an order-in-council last week (March 12), cap non-sufficient funds fees at $10 for personal deposit.... More »
Credit Card Code of Conduct: Changes Announced for Fees and Mobile Payments
– ratesupermarket.ca
Conservative Finance Minister Joe Oliver announced new updates to the Credit Card Code of Conduct today, emphasizing three main changes to come intended to better serve both consumers and small businesses.
Here’s our breakdown of the main highlights:
1: Credit Card Interchange Fee Caps To Take Effect
A main addition to the Code is the implementation of interchange fee caps this month, following MasterCard and Visa’s voluntary agreement to reduce fees to an average of 10 per cent last November. The Code now mandates that the fee reductions be passed down to merchants, with the hope that it will result in savings for consumers.
Also Read: Credit Card Interchange Fees Changes Coming to Canada>
“This will save money for job creators and will save money for consumers,” Oliver stated, adding the measures will “promote fairness in the credit card market and provide choice for consumers.”
Interchange fees are part of the processing fees merchants must pay each time a credit card transaction is made…
Canada’s five big banks appear to be dialling back their compensation packages, according to a study from consultancy McDowall Associates.
Don’t blame lower bank rates for higher household debt levels
– theglobeandmail.com
We should welcome banks and other lenders fighting it out to cut rates. Frankly, it’s the only thing home buyers have going for them as prices heat up in some cities
