The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
Latest News
The Best Store Credit Cards of 2019 Dec 12th
We all have that favourite superstore – the one that sells everything under the sun, from car batteries and patio furniture to sports drinks and baby clothing.
And while we may spend hundreds or even thousands of dollars at these stores per year, it’s time to consider how you can get a return o.... More »
TransferWise Review: A Better Way to Conduct Foreign Exchange? Oct 11th
The high fees and bloated exchange rates incurred when sending and receiving foreign currency can be a bitter pill to swallow. This is especially true for anyone who has to send money abroad on a regular basis. Much of the problem lies in the exchange rates offered by banks, which are priced well ab.... More »
The best credit cards for newcomers to Canada for 2024 + MORE Jul 2nd
Credit Cards
The best credit cards for newcomers to Canada for 2024
As a newcomer, you’ll want a credit card that offers you the best value without having a long Canadian credit history. Here’s a list of our favourite cash back, rewards, low-interest cards and more.
.... 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 »
Making sense of the markets this week: October 22, 2023 Oct 21st
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
Big wins for big U.S. banks
If you’ve been betting against American consumers over the last few years, then you haven.... More »
Screwed!
– moneysense.ca
“Our retirement dreams are in tatters.” The line jumps out from an email to MoneySense from a reader we’ll call Ellen Thornton. The Thorntons’ retirement portfolio once stood at $2.2 million, but as of early 2014 it had plummeted about 90% to just $225,000. Their advisor—who works with the wealth management arm of one of the Big Five banks—told the couple that $2 million wasn’t enough to retire on and encouraged them to pile on risk in pursuit of higher returns. When Ellen’s husband, Barry, complained, Ellen says he was belittled by the advisor. Barry was so shaken by the experience that during his tirade he suffered a pulmonary attack. The Thorntons filed a complaint with the bank’s ombudsman, but they don’t expect to recover their losses. “They prefer to spend a fortune on lawyers rather than putting things right for clients,” Ellen wrote. “Yes, I am scared, but I have to fight this. Crying as I type.”The Thorntons’ story is not as rare as it might sound: Far too many investors have, in some form or another, been screwed by their advisors…
China cracks whip on foreign banks with forex shut-out
– theglobeandmail.com
Beijing targets ‘aggressive’ trading to stem capital flows
