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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MoneySense magazine: Summer 2015 + MORE Jun 2nd
MoneySense magazine: June 2015
Volume 17, Number 4
Download the MoneySense app to read this issue on your tablet or smartphone starting June 3, it’s free for subscribers!
You can also find issues of MoneySense magazine along with 100+ other titles on the Next Issue app. Start your 30-day fre.... More »
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 »
Wise Review (formerly TransferWise): A Better Way to Conduct Foreign Exchange? May 14th
The high fees and bloated exchange rates incurred when sending and receiving foreign currency can be a bitter pill to swallow. This is especially true for anyone who has to send international money transfers regularly.
Much of the problem lies in the exchange rates offered by banks, which are priced.... More »
Making sense of the markets this week: April 2, 2023 Mar 31st
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Freeland fires again at Canadian Banks
There are several big-picture looks at the important aspects of the Canadian federal budget .... More »
Traders set for second round of bank earns after RBC/TD breeze past expectations May 25th
TORONTO – The Toronto stock market could benefit from further lift in the financial sector this week as traders anticipate another positive run of earnings from the big banks.
The TSX ran ahead 1.33 per cent last week after two losing weeks, lifted by a gain of about 1.2 per cent in the financ.... More »
Aeroplan Credit Cards: TD, CIBC and Aimia Reach Agreement
– ratesupermarket.ca
A three-way deal has been reached regarding the future of Aeroplan rewards credit cards in Canada. Aimia, the owner of the Aeroplan program, TD and CIBC have hashed out an agreement to split existing consumers in what will total a $312.5-million deal.
TD will receive roughly half of CIBC’s current Aerogold Visa clients – about 550,000 cardholders, representing $3 billion in outstanding balances. Transferred customers will be made up of mostly credit card only-clients; CIBC will hang on to its cardholders with “broader relationships” such as bank accounts and mortgages.
As part of the agreement, CIBC will retain the right to issue Aeroplan credit cards and products, while TD will become the official providing partner of Aimia for a 10-year term, to commence when CIBC’s current agreement expires on December 31. TD is paying $200 million upfront to CIBC, followed by three years of $37.5-million annual payments.
What Does This Mean For Current Cardholders?
CIBC clients have been waiting with uncertainty all summer as the big banks hashed out the legalities…
TD to acquire half of CIBC’s Aeroplan credit card portfolio
– moneysense.ca
TD plans to acquire roughly half of CIBC’s existing Aeroplan credit card portfolio, the banks and Aimia Inc. said Monday. The announcement was made to clarify an earlier deal inked between TD and Aimia that will see TD become Aimia’s official Aeroplan travel rewards loyalty program sponsor for the next 10 years starting January 2014.
So what’s this mean for existing CIBC Aeroplan Visa branded cardholders? Nothing, for now. Cardholders can continue using their existing cards and will carry on earning miles for the rest of this year and through next year. Chances are cardholders without banking ties to CIBC beyond the Aeroplan credit card will get transitioned over to a TD Aeroplan branded credit card eventually however.
“TD and CIBC will communicate directly to cardholders about next steps very soon, to make the transition a smooth and comfortable experience,” the banks said in a joint release.
For more on the switch, head over to Canadian Business.
The post TD to acquire half of CIBC’s Aeroplan credit card portfolio appeared first on MoneySense.
So what’s this mean for existing CIBC Aeroplan Visa branded cardholders? Nothing, for now. Cardholders can continue using their existing cards and will carry on earning miles for the rest of this year and through next year. Chances are cardholders without banking ties to CIBC beyond the Aeroplan credit card will get transitioned over to a TD Aeroplan branded credit card eventually however.
“TD and CIBC will communicate directly to cardholders about next steps very soon, to make the transition a smooth and comfortable experience,” the banks said in a joint release.
For more on the switch, head over to Canadian Business.
The post TD to acquire half of CIBC’s Aeroplan credit card portfolio appeared first on MoneySense.
Aeroplan Credit Cards: TD, CIBC and Aimia Reach Agreement
– ratesupermarket.ca
A three-way deal has been reached regarding the future of Aeroplan rewards credit cards in Canada. Aimia, the owner of the Aeroplan program, TD and CIBC have hashed out an agreement to split existing consumers in what will total a $312.5-million deal.
TD will receive roughly half of CIBC’s current Aerogold Visa clients – about 550,000 cardholders, representing $3 billion in outstanding balances. Transferred customers will be made up of mostly credit card only-clients; CIBC will hang on to its cardholders with “broader relationships” such as bank accounts and mortgages.
As part of the agreement, CIBC will retain the right to issue Aeroplan credit cards and products, while TD will become the official providing partner of Aimia for a 10-year term, to commence when CIBC’s current agreement expires on December 31. TD is paying $200 million upfront to CIBC, followed by three years of $37.5-million annual payments.
What Does This Mean For Current Cardholders?
CIBC clients have been waiting with uncertainty all summer as the big banks hashed out the legalities…
