Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
Fintech firms are battling banks—and the banks are winning + MORE May 17th
(Illustration by Iker Ayestaran)
Mogo Finance Technology Inc. happily bills itself as the Uber of banking. The Vancouver-based company’s online platform instantly assesses a borrower’s creditworthiness and issues short- and long-term loans. Mogo (TSX: GO) is part of a wave of so-called fintech .... More »
Interest rate hike, new mortgage rules may trigger real estate market slowdown + MORE Jan 16th
TORONTO _ Canada’s real estate market will hit a slow patch in 2018 as tighter mortgage stress tests apply pressure and the impact could be exacerbated if an expected interest rate hike drives buyers to put off their home purchases, economists said Monday.
The Bank of Canada will make its firs.... More »
Iran calls for US to ease banking restrictions Apr 16th
TEHRAN, Iran – Iran’s foreign minister on Saturday called on the United States to ease restrictions on non-American banks doing business with the Islamic Republic, saying it would help reassure Iranians over last year’s nuclear deal.
“Iran will definitely put pressure on the .... More »
Is It Worth Getting a U.S. Dollar Credit Card? Mar 14th
According to the most recent census, two out of three (66%) Canadians live within 100 kilometres of the U.S. border. So, naturally millions of citizens cross over to the 13 neighbouring states every month. Many snowbirds even choose to stay for part of the year. But, with the value of the loonie si.... More »
How GICs can help you save for your short-term goals Nov 23rd
Let’s talk about short-term savings. By short-term, we’re talking about putting away money for a few months, or even a few years, for a big goal, like a vacation, a wedding or a down payment on a home. Where should you put your savings so they’ll be secure and work for you?
When saving,.... More »
Transferring money? Get ready to wait…
– moneysense.ca
These days, a lot of Canadians are moving their investments out of big banks to discount brokerages or low-fee investment companies. Just be prepared wait an average of 19 days for your money to be transferred, during which time those funds are out of the market and out of your control. That’s the major finding from new proprietary data compiled by online investment service Wealthsimple. They found that the fastest transfer by any financial institution was five days, with the slowest one taking more than two months. “Interestingly, Canadian financial institutions have the technology required to transfer funds out of a client’s account in a timely matter, but they end up dragging their heels,” says Wealthsimple’s Dave Nugent. “It’s a frustrating experience for investors.” While Scotiabank charges the highest fees in the market ($150), they also have the best average transfer time of seven days. RBC, TD and CIBC, meanwhile, average transfer times of 20 days or more.
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4 Myths Busted: Are Contactless Debit Payments Safe?
– ratesupermarket.ca
By: Barry Choi
Contactless payment options are appearing everywhere, but many of us are still hesitant to tap. Despite the availability of this technology from the country’s credit providers and banks, consumers aren’t entirely convinced that it’s a secure form of payment. After all, the whole idea of our personal information being transmitted through the air is a scary thought. It’s time to find out the truth about how safe contactless debit payments really are.
Breaking the Myths of Contactless Debit Payments
Myth #1: Criminals can electronically steal – “electronic pick-pocket” – my personal financial information from my wallet or purse.
Not with Interac Flash, the provider of tap debit payments in Canada. Instead of using the card’s magnetic strip, Interac now uses chip-based technology. This not only protects you from electronic pickpocketing, but covers you from other types of fraud such as skimming, counterfeiting and duplicate transactions…
Canadian Banks Seen Benefiting from Renminbi Trading Hub
– blogs.wsj.com
Canada’s banks are expected to cash in on a new trading hub that will make it easier for companies across North and South America to do business in China’s currency.
4 Myths Busted: Are Contactless Debit Payments Safe?
– ratesupermarket.ca
By: Barry Choi
Contactless payment options are appearing everywhere, but many of us are still hesitant to tap. Despite the availability of this technology from the country’s credit providers and banks, consumers aren’t entirely convinced that it’s a secure form of payment. After all, the whole idea of our personal information being transmitted through the air is a scary thought. It’s time to find out the truth about how safe contactless debit payments really are.
Breaking the Myths of Contactless Debit Payments
Myth #1: Criminals can electronically steal – “electronic pick-pocket” – my personal financial information from my wallet or purse.
Not with Interac Flash, the provider of tap debit payments in Canada. Instead of using the card’s magnetic strip, Interac now uses chip-based technology. This not only protects you from electronic pickpocketing, but covers you from other types of fraud such as skimming, counterfeiting and duplicate transactions…
