Learn more about Canada’s top banks rates, rules and the latest news – read on!
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The best GIC rates in Canada for 2025 + MORE May 21st
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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Making sense of the markets this week: January 23 Jan 22nd
Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors.
U.S. earnings season is in full swing
Earnings season is off and running. As always, the financials were battling to be the lead-off batter, as we look .... More »
The best no-fee credit cards in Canada for 2024 + MORE Jun 21st
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The best no-fee credit cards in Canada for 2024
From cash back to rewards points (and perks like no foreign transaction fees), here's a list of Canada's best no fee cards.
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Now’s not the time to switch to a fixed-rate mortgage Apr 18th
The Bank of Canada’s April 13 interest rate hike of 0.5%—the biggest one-time rate jump in decades—caught many variable-rate mortgage holders off guard. Some are likely thinking about running to their local bank branch or mortgage specialist to lock into a standard five-year fixed rate. Those .... More »
The best high-interest savings accounts in Canada for 2024 + MORE Aug 6th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
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Breaking down bank fees
– moneysense.ca
The COVID-19 pandemic has hit a lot of Canadians hard—emotionally, physically and financially. So it isn’t surprising that many are calling out banks that raised their fees to consumers at a time when so many people are struggling. Given the number of banks that have also reported record profits this year, the question on many customers’ minds has been: Why?
Watch: MoneySense – Breaking down bank fees – Presented by EQ Bank
Why do banks charge fees on everyday transactions?
Depending on what kind of account you have, and where, certain everyday transactions, like sending an e-Transfer or paying for an online purchase in a foreign currency, may result in a charge being debited from your account; or you may be charged a flat fee each month.
In either case, fees are a way of recouping banks’ costs (for example, staff salaries; overhead costs for brick-and-mortar branches; the admin involved with approving a loan or mortgage), but also a way to meet the demands of their shareholders…
