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
Want to Switch to Low Interest Credit Cards? Use These Tips Jun 4th
Looking for low-interest credit cards? A credit card that has a high interest rate can quickly lead to higher debt if you’re not careful. But, with a few savvy tips, you can lower your interest rate or transfer to a card with lower interest.
Here’s how to get the best interest rate for your.... More »
Britain’s top 10 U.K. banks may pay $9.2-billion a year in tax: study + MORE Sep 7th
The study conducted by accounting firm EY, said that a new surcharge on profits to be introduced by the British government will occur before an existing levy is phased out, which would hit some banks hard
.... More »
Don't be enticed by the big dividends and low valuations of Canada's asset managers Jan 12th
Less-nimble companies face competition from major banks, the popularity of low-cost ETFs and emerging robo-advisers
.... More »
Making sense of the markets this week: March 3, 2024 + MORE Mar 2nd
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors. And Stephanie Griffiths was an award-winning investor for almost 20 years before returning to her roots in journalism. She is .... More »
This mortgage loophole puts us at risk Jun 28th
If the Canadian housing market were to crash it would be catastrophic. At least, that’s the synopsis of the latest Moody’s Investors Service report.
According to their analysis the six big banks would lose nearly $12 billion while CMHC and other mortgage insurers would be on the hook for as muc.... 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.
