Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
Generational shift brings competition to Canada’s banks Dec 21st
Canadians who watched the World Series this year might have caught a second high-stakes clash going on between plays. RBC, the country’s most valuable bank, ran ads that had actor Will Arnett touting trust and real people over fads, while scrappy EQ Bank and crypto giant Coinbase Inc. had spo.... More »
Credit Card Interchange Fees Changes Announced + MORE Nov 4th
UPDATE: Visa and MasterCard have announced their proposals to reduce merchant interchange fees to an average of 1.5 per cent. Together, the two proposals will equal a 10 per cent reduction in processing fees for merchants. Canadian Minister of Finance, Joe Oliver, stated he was pleased with the act.... More »
Big banks watch closely as Laurentian shutters branches Oct 1st
As business shifts away from bricks-and-mortar institutions to online banking, smaller lender announces major change
.... More »
Federal regulators take over small bank in Illinois; makes 7th US bank failure of 2014 + MORE May 17th
WASHINGTON – Regulators have closed a small lender in Illinois, marking the seventh U.S. bank failure of 2014 after 24 closures last year.
The Federal Deposit Insurance Corp. said Friday that it has taken over AztecAmerica Bank, based in Berwyn.
The lender, which operated two branches, had abo.... More »
Canadians becoming less dependent on banks: survey + MORE Oct 21st
TORONTO – A new survey from EY suggests Canadians are becoming less dependent upon their banks as the main providers of financial services.
The business consultancy firm says a quarter of those polled agreed with the statement, “I’m less reliant on established (financial services) companies an.... More »
How To Get An Online Shopping Refund
– ratesupermarket.ca
Canadians are pretty thrifty when it comes to finding deals via online shopping - but navigating the hidden costs of shipping and customs duties when buying from foreign countries is a different story.
In 2010, Canadians placed nearly 114 million orders online, worth $15.3 billion, according to Stats Canada. On average, Canadians who order online spend about $1,362 annually and nearly 90 per cent pay using credit cards.
In May, U.S.-based Forrester Research released a report that showed 25 per cent of online spending by Canadians goes through international websites – purchases that were subjected to often overlooked duties.
Why You’ll Shell Out For Shipping
When you purchase products online from companies located south of the border, you have to pay a duty to import that product, much like if you drove stateside and bought a stack of DVDs or clothing.
A third of shoppers surveyed for Forrester’s report said they weren’t concerned with taking the additional hit for duties while 17 per cent even considered having purchases shipped to a friend in the U…
Do Canadian banks measure up on leverage?
– canada.com
The debate over how to measure bank capital is boiling over after the Basel Committee on Banking Supervision admitted a key measure of capital strength is getting torqued
