Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
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Best credit cards in Canada with free roadside assistance 2023 + MORE Jul 18th
Add “roadside assistance” to the list that includes a plunger, first-aid kit and a screwdriver small enough to fix your sunglasses: “Things you don’t realize you need, until you need them.” But this credit card perk can feel like you won the lottery when you’re stranded on the highway du.... More »
Premarket: Monte dei Paschi bolsters European stocks, ECB looms + MORE Dec 7th
Banks lead European shares higher; oil dips on doubts over impact of OPEC deal
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The best student credit cards in Canada for 2023 Sep 13th
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The best student credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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Trump rebuffs bipartisanship, banks on base to tame turmoil - CTV News + MORE Jun 10th
CTV NewsTrump rebuffs bipartisanship, banks on base to tame turmoilCTV NewsWASHINGTON -- U.S. President Donald Trump is banking on his loyal base of supporters to help him through the tangle of the Russia turmoil. Trump had his core backers in mind as he responded to former FBI Director James Comey&.... More »
How to cut costs on international money transfers Jan 10th
While many Canadians know how expensive it can be to send money abroad, they’re likely unaware of how the costs are broken out. But one virtual bank is changing that.
EQ Bank has formed a partnership with TransferWise, a global money transfer platform that’s committed to being cheap, fast and tr.... More »
Could ATM User Fees Be A Thing Of The Past?
– ratesupermarket.ca
For ATM users, the machines’ transaction fees are a necessary evil; a price to pay for convenience. The occasional swipe of your card at an automated machine won’t break the bank but it doesn’t take long for the fees — which can range from $1 to upwards of $3 or $4 — to add up.
The NDP is once again taking aim at the fees, urging the Conservative government to reel in the charges and impose a cap, limiting the fees per transaction to 50 cents.
NDP consumer affairs critic Glenn Thibeault says the proposed 50-cent cap is “entirely reasonable” and that with ATM transactions costing the bank 36 cents per transaction, the 50-cent cost would still help the banks “recoup their operating costs while maintaining a healthy profit margin.”
Banks Blasted For Pricey Fees
The motion applies only to ATMs owned by regulated banks, not the “no name” machines installed in many bars and convenience stores. According to the Canadian Bankers Association, there are more than 18,300 of these bank-owned machines across Canada and 26 per cent of Canadians report using them for the majority of their banking needs…
Could ATM User Fees Be A Thing Of The Past?
– ratesupermarket.ca
For ATM users, the machines’ transaction fees are a necessary evil; a price to pay for convenience. The occasional swipe of your card at an automated machine won’t break the bank but it doesn’t take long for the fees — which can range from $1 to upwards of $3 or $4 — to add up.
The NDP is once again taking aim at the fees, urging the Conservative government to reel in the charges and impose a cap, limiting the fees per transaction to 50 cents.
NDP consumer affairs critic Glenn Thibeault says the proposed 50-cent cap is “entirely reasonable” and that with ATM transactions costing the bank 36 cents per transaction, the 50-cent cost would still help the banks “recoup their operating costs while maintaining a healthy profit margin.”
Banks Blasted For Pricey Fees
The motion applies only to ATMs owned by regulated banks, not the “no name” machines installed in many bars and convenience stores. According to the Canadian Bankers Association, there are more than 18,300 of these bank-owned machines across Canada and 26 per cent of Canadians report using them for the majority of their banking needs…
Federal government says banks may do business with legal marijuana sellers
– canadianbusiness.com
WASHINGTON – The Obama administration on Friday gave banks a road map for conducting transactions with legal marijuana sellers so these new businesses can stash away savings, make payroll and pay taxes like any other enterprise. It’s not clear banks will get on board.
Guidance issued by the Justice and Treasury departments is the latest step by the federal government toward enabling a legalized marijuana industry to operate in states that approve it. The intent is to make banks feel more comfortable working with marijuana businesses that are licensed and regulated.
Others have a keen interest, too, in a regulated financial pipeline for an industry that is just emerging from the underground. Marijuana businesses that can’t use banks may have too much cash they can’t safely put away, leaving them vulnerable to criminals. And governments that allow marijuana sales want a channel to receive taxes.
But a leading financial services trade group immediately expressed misgivings and others, too, said the guidelines don’t go far enough in protecting banks…
Guidance issued by the Justice and Treasury departments is the latest step by the federal government toward enabling a legalized marijuana industry to operate in states that approve it. The intent is to make banks feel more comfortable working with marijuana businesses that are licensed and regulated.
Others have a keen interest, too, in a regulated financial pipeline for an industry that is just emerging from the underground. Marijuana businesses that can’t use banks may have too much cash they can’t safely put away, leaving them vulnerable to criminals. And governments that allow marijuana sales want a channel to receive taxes.
But a leading financial services trade group immediately expressed misgivings and others, too, said the guidelines don’t go far enough in protecting banks…
California farmers critical of Obama’s drought relief efforts
– canadianbusiness.com
FRESNO, Calif. – Farmers in California’s drought-stricken Central Valley said the financial assistance President Barack Obama delivered on his visit Friday does not get to the heart of California’s long-term water problems.
Amid one of the driest years in the state’s recorded history, Obama came to the Fresno area to announce $100 million in livestock-disaster aid, $60 million to support food banks and another $13 million toward things such as conservation and helping rural communities that could soon run out of drinking water.
Obama told reporters in the rural town of Firebaugh, where he met with community leaders, that he wasn’t about to wade into California water politics. Yet the president gently warned California’s leaders to find common ground rather than thinking of water as a “zero-sum game.”
“We’re going to have to figure out how to play a different game,” Obama said. “If the politics are structured in such a way where everybody is fighting each other and trying to get as much as they can, my suspicion is that we’re not going to make much progress…
Amid one of the driest years in the state’s recorded history, Obama came to the Fresno area to announce $100 million in livestock-disaster aid, $60 million to support food banks and another $13 million toward things such as conservation and helping rural communities that could soon run out of drinking water.
Obama told reporters in the rural town of Firebaugh, where he met with community leaders, that he wasn’t about to wade into California water politics. Yet the president gently warned California’s leaders to find common ground rather than thinking of water as a “zero-sum game.”
“We’re going to have to figure out how to play a different game,” Obama said. “If the politics are structured in such a way where everybody is fighting each other and trying to get as much as they can, my suspicion is that we’re not going to make much progress…
The Obama administration gave banks a roadmap for doing business with legal marijuana sellers without getting into trouble, another step by the federal government toward enabling a legalized marijuana industry to operate in states that approve it.
