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
Banks see initial writedowns, future earnings bump under Trump tax changes Jan 10th
Canadian banks are expecting some short-term pain from U.S. President Donald Trump's tax overhaul, but a significant lift on future earnings..... More »
The best GIC rates in Canada for 2026 Jun 1st
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.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
The best Visa credit cards in Canada for 2024 Nov 7th
Credit card comparison tool
Compare your Visa options with our interactive tool and filter credit cards based on rewards value, annual fees, income requirements and more.
powered by
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999.... More »
The best GIC rates in Canada for 2025 + MORE Dec 16th
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.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
International Vacation? Tips to Exchange Currency for the Best Rates + MORE Jul 31st
Whether it’s to the U.S. or elsewhere outside of Canada, your travel will mean transactions in another currency. You can get foreign cash before you leave, use local ATMs, put everything on your credit card, or depend on currency exchange brokers, to name a few. Here are the pros and cons of .... More »
Major Canadian banks under review for business practices
– macleans.ca
ShutterstockOTTAWA – Canada’s financial consumer watchdog said on Wednesday it was launching a review of business practices among the country’s major banks following reports citing unnamed employees who alleged that the lenders were selling services without the consent of their customers.
Lucie Tedesco, commissioner of the Financial Consumer Agency of Canada, said she is concerned by the allegations and issued a statement reminding the lenders of their obligations to obtain prior consent before increasing credit limits and providing clients with new products.
“Financial institutions’ compliance with these rules is non-discretionary and the message must be disseminated from the boards of directors on down to customer-facing staff,” Tedesco said.
“Through the industry review we are announcing today, we will examine financial institutions’ business practices in relation to express consent and disclosure, including the identification of any factors that may be contributing to non-compliance…
Canada’s financial consumer watchdog is launching a review of business practices among the major banks following reports citing unnamed employees who alleged the lenders were signing customers up for services without their consent.
'We are all doing it': Employees at Canada's 5 big banks speak out about pressure to dupe customers
– cbc.ca
Employees from all five of Canada’s big banks have flooded Go Public with stories of incredible pressure to meet sales targets — at any cost.
CBC.caConsumer watchdog launches bank review in wake of CBC storiesCBC.caCanada's top consumer watchdog says it is reviewing business practices at Canada's federally-regulated charter banks starting next month, following a CBC investigation that has uncovered reports of troubling sales practices at Canada's major financial …Canadian banks face increased scrutiny under Financial Consumer Agency investigationBNNFinancial Consumer Agency Probes Canadian Banks After TD AllegationsHuffington Post CanadaCanadian Banks Under Review on Report of High-Pressure TacticsBloombergall 13 news articles »
CBC.caConsumer watchdog launches bank review in wake of CBC storiesCBC.caCanada's top consumer watchdog says it is reviewing business practices at Canada's federally-regulated charter banks starting next month, following a CBC investigation that has uncovered reports of troubling sales practices at Canada's major financial …Canadian banks face increased scrutiny under Financial Consumer Agency investigationBNNFinancial Consumer Agency Probes Canadian Banks After TD AllegationsHuffington Post CanadaCanadian Banks Under Review on Report of High-Pressure TacticsBloombergall 13 news articles »
