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
Housing affordability set to get even worse next year, big banks warn Oct 6th
New buyers can expect home ownership to become even less affordable next year, while current owners will be largely insulated from higher rates..... More »
Do You Need Loan Insurance? May 28th
Managing debt can be a challenge. Sometimes that challenge is driven by circumstances out of your control. Critical illness or disability can put a huge strain on your finances, making it hard to pay off a credit line or loan.
Those times of distress are what loan insurance is designed for. .... More »
The best GIC rates in Canada for 2025 Jan 21st
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 navigat.... More »
Outlook Financial Review: Canadian Online Banking Made In Manitoba Nov 19th
There are several online banks owned by credit unions in Canada. Outlook Financial is one of them. A division of Winnipeg-based Assiniboine Credit Union, Outlook offers banking products and services to customers across Canada. In this Outlook Financial review, I’ll let you know what they have to o.... More »
Simplii Financial and BMO Warn of Data Breach; Customers Report Money Lost + MORE May 29th
If you bank with BMO or CIBC’s Simplii Financial, your account may have been compromised.
On Monday, both banks started to alert clients that “fraudsters” may have accessed sensitive account information. Simplii reported that up to 40,000 of their customers may have been affected while BMO de.... More »
It’s not your imagination — gasoline prices in Canada should be a lot lower based on the price of oil, one of the biggest banks in the country says.
Fintech firms sharing unregulated advantage over Canadian banks
– theglobeandmail.com
The speed at which banks can adapt to a newly competitive environment is hampered by the fact they must adhere to a strict and slow-to-change regulatory environment
Central bank U-turns: A short history of rate-hike mistakes
– theglobeandmail.com
Here are some examples when history suggests central banks should have waited longer to tighten credit
Business Highlights
– canadianbusiness.com
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Fed betting it will avoid central banks’ errors of the past
LONDON (AP) — The Federal Reserve is poised to raise interest rates Wednesday for the first time in 9 1/2 years. It may not take so long to know whether its decision was correct.
History is filled with cases when central banks raised rates prematurely, sometimes with dire consequences. Raising rates or otherwise tightening credit too soon can slow borrowing, jolt confidence and choke growth.
Some economists have suggested that the Fed could wait a bit longer before raising rates, especially with inflation still low amid slumping oil and commodity prices. In a survey of top academic economists, the University of Chicago found that while 48 per centfavoured a rate hike, 36 per cent felt the Fed should hold off.
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US consumer prices unchanged but core inflation up
WASHINGTON (AP) — U.S. consumer prices were unchanged in November as declines in energy and food held down overall costs. But core inflation was up 2 per cent over the 12 months ending in November…
Fed betting it will avoid central banks’ errors of the past
LONDON (AP) — The Federal Reserve is poised to raise interest rates Wednesday for the first time in 9 1/2 years. It may not take so long to know whether its decision was correct.
History is filled with cases when central banks raised rates prematurely, sometimes with dire consequences. Raising rates or otherwise tightening credit too soon can slow borrowing, jolt confidence and choke growth.
Some economists have suggested that the Fed could wait a bit longer before raising rates, especially with inflation still low amid slumping oil and commodity prices. In a survey of top academic economists, the University of Chicago found that while 48 per centfavoured a rate hike, 36 per cent felt the Fed should hold off.
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US consumer prices unchanged but core inflation up
WASHINGTON (AP) — U.S. consumer prices were unchanged in November as declines in energy and food held down overall costs. But core inflation was up 2 per cent over the 12 months ending in November…
Three Swiss banks, including a unit of France’s Crédit Agricole SA, will pay a total of more than $130 million US to the U.S. Justice Department to avoid possible prosecution for helping Americans evade taxes, the department said on Tuesday.
