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
Canada's Big Six banks could get stingy with third-quarter dividend payouts + MORE Aug 21st
Tougher economic conditions have analysts expecting few dividend hikes
.... More »
Making sense of the markets this week: March 19, 2023 Mar 17th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Why are banks suddenly folding?
The big news of the week was, of course, that the 12th biggest bank in the U.S.A.—Silicon Valley .... More »
Motusbank Online Bank Launches With Low HELOC, Competitive GICs + MORE Apr 3rd
Motusbank, a subsidiary of Meridian Credit Union, has launched in Canada. First announced in February, a full range of banking and borrowing services are now available on its website, motusbank.ca.
As an online-only bank, Motusbank can be accessed via its mobile app on the Apple App Store and Googl.... More »
Wealthsimple launches savings account with premium rate + MORE Apr 6th
TORONTO —Robo-adviser Wealthsimple is hoping to lure clients away from traditional financial institutions by launching a savings account with a premium interest rate.
The Smart Savings account, launched in Canada and the U.S. on Thursday, will offer a 1.7 per cent interest rate north of the border.... More »
Motive Financial Review – Canada’s Best High Interest Savings Account? Jul 18th
Motive Financial is the online banking arm of Canadian Western Bank, which is a Schedule I bank. As with other online only banks, such as Tangerine or EQ, Motive has become popular with Canadians who appreciate the low fees an higher interest that they are able to offer. But how does Motive measure .... More »
OTTAWA – The odds that the Bank of Canada will lower its key interest rate next week are rising, with some of the country’s big banks now predicting a rate cut.
Economists at the Bank of Montreal joined what is a growing chorus of analysts Thursday in predicting the central bank will cut its key interest rate next Wednesday when it releases its updated forecast for the economy.
The Bank of Montreal cited low oil prices, a weak business outlook survey and recent comments by governor Stephen Poloz as reasons for its new forecast.
“The Business Outlook Survey showed the lowest investment and hiring intentions since the Great Recession,” the Bank of Montreal said in a research note Thursday.
“The commodity sector’s pain is spreading to the domestically-focused, non-resource parts of the economy, trumping the gains in non-commodity exports to the U.S.”
The key overnight rate sits at 0.5 per cent, and expectations that the Bank of Canada will cut its rate target have been gaining momentum with the low price of oil…
Economists at the Bank of Montreal joined what is a growing chorus of analysts Thursday in predicting the central bank will cut its key interest rate next Wednesday when it releases its updated forecast for the economy.
The Bank of Montreal cited low oil prices, a weak business outlook survey and recent comments by governor Stephen Poloz as reasons for its new forecast.
“The Business Outlook Survey showed the lowest investment and hiring intentions since the Great Recession,” the Bank of Montreal said in a research note Thursday.
“The commodity sector’s pain is spreading to the domestically-focused, non-resource parts of the economy, trumping the gains in non-commodity exports to the U.S.”
The key overnight rate sits at 0.5 per cent, and expectations that the Bank of Canada will cut its rate target have been gaining momentum with the low price of oil…
Bank of Montreal economists predicting interest rate cut
– moneysense.ca
OTTAWA – Economists at the Bank of Montreal are joining those predicting the Bank of Canada will cut its key interest rate next week.
The Bank of Montreal cited low oil prices, a weak business outlook survey and recent comments by governor Stephen Poloz as reasons for its new forecast.
Poloz recently said that while the steep slide in oil prices can be mitigated to a degree, there was no simple policy fix to the ailing economy.
CIBC also says that the odds have tilted in favour of a rate cut by the central bank, either next week or in April.
Mortgage rates are rising »
The key overnight rate sits at 0.5 per cent, and Poloz is scheduled to make his interest rate announcement next Wednesday.
The Bank of Canada cut its key interest rate twice last year in an effort to cushion the impact of falling oil prices on the economy.
By cutting its target for the overnight rate, the central bank is trying to push down the interest rates charged by Canada’s big banks, making it cheaper for companies to borrow money to grow their businesses…
The Bank of Montreal cited low oil prices, a weak business outlook survey and recent comments by governor Stephen Poloz as reasons for its new forecast.
Poloz recently said that while the steep slide in oil prices can be mitigated to a degree, there was no simple policy fix to the ailing economy.
CIBC also says that the odds have tilted in favour of a rate cut by the central bank, either next week or in April.
Mortgage rates are rising »
The key overnight rate sits at 0.5 per cent, and Poloz is scheduled to make his interest rate announcement next Wednesday.
The Bank of Canada cut its key interest rate twice last year in an effort to cushion the impact of falling oil prices on the economy.
By cutting its target for the overnight rate, the central bank is trying to push down the interest rates charged by Canada’s big banks, making it cheaper for companies to borrow money to grow their businesses…
3 easy ways to track your spending
– moneysense.ca
Before you can take control over your finances, you have to know where your money is going. The most common advice? Start a spending journal. To which we say: Get real. Journals are tedious, time consuming and a royal pain. While the advice is sound, the solution is flawed. Even die-hard financial nuts admit they quickly give up on it. The good news is there are easier ways. Here are three smart ways to track your spending—with minimal effort:1. Charge it all
Putting all your purchases on one credit card is an easy way to track your spending. Some issuers even categorize purchases on your monthly statement. The key is to stick to one card and pay off the balance each month. Most banks now also provide tools to track spending on your debit card. Use them to tell you where you’re spending, then look for unnecessary expenses.
2. Instagram it
Need some added accountability? Use your smartphone to take photos of everything you buy, and post them to a private Instagram account. Include the cost in the comments…
