Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
The best TD credit cards in Canada 2021 May 31st
Before we talk about the best TD credit cards in Canada, let’s talk about TD. Formed through a merger between financial giants Bank of Toronto and The Dominion Bank in 1955, TD is one of Canada’s big five banks. It offers a wide array of financial services including an impressive portfolio of mo.... More »
Durbin's Debit-Card Price Controls Hit the Poor Hardest May 2nd
Limits on fees lead banks to charge the poor more for other services—or to stop offering them at all..... More »
As fees rise, banks count on your complacency: Mayers Aug 4th
When banks make changes to fee packages it is often hard to compare old with new. They’re counting on your inertia..... More »
Simplii, Tangerine, Motusbank – Who Are These “New” Players? + MORE Apr 24th
You’ve seen those ads show up more and more the past few years: financial institutions who offer a new way of banking. But do those flashy logos hide something you already know? Many of these businesses are owned by traditional Canadian banks. The industry is tightly regulated, but you.... More »
Bank of Montreal CEO Bill Downe to retire in October; successor is Darryl White + MORE Apr 8th
After more than a decade at the helm, the Bank of Montreal’s Bill Downe has announced plans to retire as CEO on Oct. 31.
He will be succeeded by Darryl White, who is currently the bank’s (TSX:BMO) chief operating officer.
In a statement issued Friday, BMO chairman Robert Prichard highlig.... More »
Are you owed a slice of the $5B unclaimed assets pie?
– moneysense.ca
Canadians are leaving as much as $5 billion worth of unclaimed assets on the table and without proper processes in place in Ontario, that money is likely sit for some time more.
“I call it Canada’s under-the-radar economic action plan in waiting, and it wouldn’t cost as much as building infrastructure,” Brenda Potter Phelan, president and CEO of LegacyTracker, a web-based personal finance tracking tool, recently told CBC News.
Only British Columbia, Alberta, and Quebec have legislation and databases in place to help individuals search for their unclaimed credit union account balances, trust funds and unpaid wages. Efforts to bring similar procedures to Ontario have faced resistance from the financial sector, according to the broadcaster.
Unclaimed assets sitting in accounts with Canada’s big banks fall under federal jurisdiction. You can sift through those via the Bank of Canada’s searchable database online.
“I call it Canada’s under-the-radar economic action plan in waiting, and it wouldn’t cost as much as building infrastructure,” Brenda Potter Phelan, president and CEO of LegacyTracker, a web-based personal finance tracking tool, recently told CBC News.
Only British Columbia, Alberta, and Quebec have legislation and databases in place to help individuals search for their unclaimed credit union account balances, trust funds and unpaid wages. Efforts to bring similar procedures to Ontario have faced resistance from the financial sector, according to the broadcaster.
Unclaimed assets sitting in accounts with Canada’s big banks fall under federal jurisdiction. You can sift through those via the Bank of Canada’s searchable database online.
The post Are you owed a slice of the $5B unclaimed assets pie? appeared first on MoneySense.
Apple Pay should have little impact on Canadian bank earnings, analyst says
– theglobeandmail.com
Lenders would only see small profit cut when Apple’s mobile payment service launches in Canada. The bigger worry for banks is if firms like Apple and Google, with its Android Pay, use this technology as a stepping stone to advance into other financial services
