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The best low-interest credit cards in Canada for 2023 Nov 16th
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The best low-interest credit cards in Canada for 2023
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The best GIC rates in Canada for 2026 May 25th
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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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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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Lowest Winnipeg mortgage rates: Save with Cambrian Credit Union May 9th
When Canadians need a mortgage, they often default to the big banks—but there’s a whole other world of financing options to explore. Credit unions have competitive interest rates in Canada, including Manitoba, plus innovative mortgage options you may not be able to find elsewhere. Shopping aroun.... More »
BMO Preferred Rate Mastercard review + MORE May 4th
Low interest credit cards are more valuable than cash back or rewards cards for people who tend to run a balance. At the regular rate of around 19.99% that most credit cards charge on unpaid balances, interest can add up fast and cancel out any other rewards you might be generating. With a regular i.... More »
Chequing vs. Savings Account: What’s the Difference?
– canadianfinanceblog.com
When it comes to managing your finances, using the correct type of bank account is very important. But while the differences between a chequing account and a savings account may seem obvious to some, you would be shocked at the number of people who use their savings accounts for daily transactions or who keep piles of money in their chequing account earning zero interest.
During my banking career, I encountered numerous clients who paid hundreds of dollars in unnecessary banking fees just because they used the wrong type of bank account.
In this article, I explain the differences between chequing and savings accounts to clear up any confusion.
What Is a Chequing Account?
A chequing account is meant for daily banking transactions, including writing cheques, direct deposits, bill payments, ATM cash withdrawals, and debit card purchases.
Most banks charge a monthly chequing account fee, which can be waived if you maintain a minimum balance throughout the month. Depending on the bank, students and seniors may qualify for free banking up to a certain number of monthly transactions…
During my banking career, I encountered numerous clients who paid hundreds of dollars in unnecessary banking fees just because they used the wrong type of bank account.
In this article, I explain the differences between chequing and savings accounts to clear up any confusion.
What Is a Chequing Account?
A chequing account is meant for daily banking transactions, including writing cheques, direct deposits, bill payments, ATM cash withdrawals, and debit card purchases.
Most banks charge a monthly chequing account fee, which can be waived if you maintain a minimum balance throughout the month. Depending on the bank, students and seniors may qualify for free banking up to a certain number of monthly transactions…
