Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
The best high-interest savings accounts in Canada for 2024 + MORE Dec 3rd
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate mo.... More »
How might inflation impact your retirement plans? + MORE Oct 7th
For retirees and near-retirees, at least five dire possibilities can threaten a long and fruitful retirement: taxes, investment fees, crumbling stock markets, soaring interest rates and inflation.
We can largely control the first two by maximizing the use of tax-effective vehicles like TFSA.... More »
Shareholders push for ethical AI use at Canada’s biggest companies Jul 23rd
When Canada’s most valuable companies hosted their annual general meetings this year, there was a new topic for shareholders to vote on among the usual requests to appoint board members and OK their executive compensation.
The proposal from Quebec-based investor rights group le mouvement d’é.... More »
What would a central bank digital currency mean for Canada? We ask 5 experts Jul 11th
Canadians have long embraced digital transactions. We make purchases, pay bills and transfer money to people around the world with the tap of a card or the click of a button—every single day. We do all of this using regular, government-backed Canadian dollars.
Yet the Bank of Canada (BoC) is ac.... More »
Canadians to see lower fees and simpler account transfers Nov 6th
Ottawa plans to make it easier for Canadians to move their banking and investment accounts in a bid to increase competition and reduce costs for consumers. The government said as part of Tuesday’s federal budget, it will move to eliminate investment and registered account transfer fees, which .... More »
With the recent news that bank fees have increased during the pandemic and challenger banks like Neo Financial promising no fees on accounts, switching banks may be at the forefront of your mind. But having a good understanding of bank fees—what they are, how they’re determined and the kind of service you can expect without paying them—will help you make the best banking decision for your lifestyle. Read on to learn the information you need to know about bank fees.
Types of bank fees and the services they provide
The type and amount of fees charged vary by institution, so it’s always important to do your homework. Here are some common and not-so-common fees charged by banks and other financial institutions.
Monthly service fees
This is a flat rate charged each month to keep your account active. You can expect to shell out around $4 for a no-frills account and more for perks like cheques or unlimited transactions. Some accounts require you to maintain a minimum balance at all times or you’ll incur additional fees…
Types of bank fees and the services they provide
The type and amount of fees charged vary by institution, so it’s always important to do your homework. Here are some common and not-so-common fees charged by banks and other financial institutions.
Monthly service fees
This is a flat rate charged each month to keep your account active. You can expect to shell out around $4 for a no-frills account and more for perks like cheques or unlimited transactions. Some accounts require you to maintain a minimum balance at all times or you’ll incur additional fees…
