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
Could Covid-19 Cause Cashless Payments to Be the New Normal? Jun 23rd
It’s hard to pay from six feet away.
Plus, the idea of touching cash is making many queasy these days, which is why the COVID-19 pandemic may be speeding up the move to a cashless society.
According to a recent survey by Payments Canada, which compared spending behaviours pre-COVID-19 and at five.... More »
Customer says BMO ignored her plea to cap limit on joint line of credit with ex: debt more than doubles Apr 9th
An Ontario woman says she is furious that her bank repeatedly increased the limit on a joint line of credit she had with her then-husband, allowing him to rack up debt for which she is responsible. She wants banks to have to get permission before increasing a customer's line of credi.... More »
Want to raise your credit score in Canada? Avoid these 5 credit card mistakes + MORE Aug 26th
What is a credit score, and how does it affect your personal finances? Anytime you apply to borrow money, whether it’s a loan, a line of credit or a new credit card, lenders look at your credit rating—and your credit score is a big part of that.
Find your next credit card*
See cards tailor.... More »
The Best Credit Cards to Use for the 2018 Holiday Season Dec 10th
There are exactly 14 shopping days left until Christmas, and whether you’re ahead of the game or behind on your shopping list, you may already be feeling some shopping lethargy. But don’t despair: depending on your preferred method of payment, you may be able to get rewarded for running around .... More »
Do you invest too much in Canada?
– moneysense.ca
Canada is the second-largest country in the world. But is there such a thing as too much Canada?
Too much natural beauty, no. Too much poutine, never. Too much snow, yep. Too much Justin Bieber, yes. And too much held in Canadian stocks? Definitely yes.
The Canadian stock market represents less than 4% of the world’s market cap. But most Canadians hold way more than that in their portfolios. And that patriotism could be holding back your performance.
Canadian stocks do not represent the world
You can be the proudest Canadian there is. You can watch Hockey Night in Canada, while drinking a Molson, then binge on Baroness Von Sketch on CBC, and go to sleep listening to the Tragically Hip on shuffle. But when you wake up, please do yourself a favour and reconsider your asset allocation. Here’s why:
Diversification: The Canadian market is teeny tiny compared to the U.S., Europe and Asia, so you don’t have much regional diversification. Our market is also skewed towards two sectors – the banks represent about 35%, and energy is about 20%…
