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
SimplyCash from American Express credit card review May 19th
Rewards are great, but they usually come at a price. And with credit cards that usually means an annual fee. Not so with SimplyCash from American Express: This no fee credit card offers impressive rewards at no extra cost to you. With an impressive earn rate of 1.25% on everything you buy, the Simpl.... 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 »
Banking with a credit union can save on fees—but there are limitations + MORE Aug 29th
On the surface, banking with a credit union may seem a lot like a traditional bank. But it’s not.
Credit unions are similar to commercial banks in that they offer chequing and savings accounts, mortgages, business loans, online banking and registered savings plans—all for lower or no fees .... More »
The best high-interest savings accounts in Canada for 2026 + MORE Mar 16th
Savings comparison tool
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
Advertisement
Why trust us
MoneySense is an.... More »
Scotiabank defends practices to verify incomes before granting mortgages Sep 15th
TORONTO – Scotiabank is defending its income verification practices in light of a report that says Canadian banks allow foreign borrowers to qualify for mortgages without having to prove the source of their income.
A Globe and Mail report Wednesday said that Scotiabank’s (TSX:BNS) intern.... More »
European Central Bank review shows hole in Greek banks’ finances smaller than first feared
– canadianbusiness.com
FRANKFURT – The European Central Bank says Greece’s battered banks need 14.4 billion euros ($15.8 billion) in fresh money to get back on their feet and resume normal business.
The figure announced Saturday is the result of an ECB review of Greece’s four main banks following an agreement on the troubled country’s third bailout: 86 billion euros ($94.6 billion) from other eurozone governments in August. The review is an important step toward ending limits on bank customer withdrawals and transfers that continue to hamper businesses as the Greek economy struggles to recover.
The banks — Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank — now must submit plans to raise the money to boost their capital buffers against future financial turmoil and losses. Part of that capital could come from private investors; what can’t be raised from investors would come from bailout funds.
The financial hole the ECB found is smaller than originally feared. The bailout provided for up to 25 billion euros ($27…
The figure announced Saturday is the result of an ECB review of Greece’s four main banks following an agreement on the troubled country’s third bailout: 86 billion euros ($94.6 billion) from other eurozone governments in August. The review is an important step toward ending limits on bank customer withdrawals and transfers that continue to hamper businesses as the Greek economy struggles to recover.
The banks — Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank — now must submit plans to raise the money to boost their capital buffers against future financial turmoil and losses. Part of that capital could come from private investors; what can’t be raised from investors would come from bailout funds.
The financial hole the ECB found is smaller than originally feared. The bailout provided for up to 25 billion euros ($27…
