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
Watch: How to open a bank account Sep 23rd
Looking for a better interest rate? Want more accessible ATMs? Tired of paying fees for things like bank drafts? Whatever your reason, changing banks or opening a new bank account can take just a few clicks—if you’re prepared. Watch this two-minute video to see what documents you’ll need (even.... More »
The close: TSX rises with energy stocks, banks Nov 25th
Tech leads S&P above 2,600; Amazon, other retail stocks gain
.... More »
The best GIC rates in Canada for 2023 Oct 24th
Investing
The best GIC rates in Canada for 2023
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Find the best rate
Tap "Return to top" to come back here.
.... More »
Looking for a mortgage in B.C.? Don’t limit your options to the big banks Nov 9th
At last, interest rates are coming down again. For Canadians who are in the market for a new home, facing renewal of their mortgage in the foreseeable future, or feeling unsatisfied with their current home loan, this poses two choices: do you pounce now, or stay on the sidelines in the hope that rat.... More »
U.S. targets Putin's daughters with sanctions amid outrage over civilian deaths in Ukraine - CBC News + MORE Apr 6th
U.S. targets Putin's daughters with sanctions amid outrage over civilian deaths in Ukraine CBC NewsRussia-Ukraine live updates: U.S., U.K. unveil new sanctions in bid to escalate Russian financial shock The Globe and MailUkraine news: Sanctions for Putin's daughters, Russian ba.... More »
Big banks respond to fintech challenge by cutting fees and offering new options
– canadianbusiness.com
OTTAWA – Technology firms have turned several industries on their head. The way people buy books, hail a ride home from the bar or find a room for the night while on vacation have all changed.
And now financial technology or fintech firms are turning their sights on the banking industry, but Canada’s big banks aren’t going to give up their dominant position without a fight.
Joanna Rotenberg, head of personal wealth management at BMO Financial Group, says the needs of customers are shifting and clients are seeking out digital tools to access and manage their money.
In response, earlier this year the Bank of Montreal launched its SmartFolio investment service, which offers a professionally managed portfolio online for a low fee.
“It’s for clients who want support from human professionals,” Rotenberg said. “It’s not a robot behind the scenes, but people who want to be able to access that digitally versus needing the hand-holding and face-to-face support…
And now financial technology or fintech firms are turning their sights on the banking industry, but Canada’s big banks aren’t going to give up their dominant position without a fight.
Joanna Rotenberg, head of personal wealth management at BMO Financial Group, says the needs of customers are shifting and clients are seeking out digital tools to access and manage their money.
In response, earlier this year the Bank of Montreal launched its SmartFolio investment service, which offers a professionally managed portfolio online for a low fee.
“It’s for clients who want support from human professionals,” Rotenberg said. “It’s not a robot behind the scenes, but people who want to be able to access that digitally versus needing the hand-holding and face-to-face support…
