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
Against the odds: Why customers often lose in battles with banks Feb 12th
The complaints system is stacked against banking customers say consumer advocates, who believe the process is designed to wear people down and that it most often finds in favour of the banks..... More »
Rising credit to GDP gap signals banking system ‘vulnerability,’ warns report Sep 19th
A new international banking report groups Canada with China and the special administrative region of Hong Kong as jurisdictions whose domestic banking systems are at risk from rising debt levels.
The Bank For International Settlements, which is owned by the world’s central banks, says there ar.... More »
Do you need that bank mutual fund? Maybe not Jul 10th
A regulator-led survey of Ontario mutual fund dealers based out of big banks finds a sizable minority are not always acting in the interests of clients.
The survey of close to 3,000 dealers by the Ontario Securities Commission and the Canadian Investment Regulatory Organization found that 25% say.... More »
The best travel credit cards in Canada for 2024 + MORE Oct 21st
Credit card comparison tool
Compare your travel card options with our interactive tool and filter credit cards based on rewards value, annual fees, income requirements and more.
<script src="https://www.ratehub.ca/scripts/rh-widget-loader.js" rh-aff-id="780" rh-lang=&quo.... More »
How Long Does an e-Transfer Take? Nov 4th
Interac e-Transfer has revolutionized how Canadians move money to each other, reducing the number of cheques written by the millions. But how long do e-Transfers take, and is there a way to speed up the process?
In this article, I explain why some e-Transfers are almost instant, and others can take .... More »
Paying investment fees
– moneysense.ca
Q: What do you think the fees for investment management at, let’s say, RBC, TD, BMO, or any of the big banks should be for a portfolio of $1.2 million?
I’ve tried to find them on the internet, but nobody tells you what they are.
—Steve
A: Investment fees are sometimes a mystery, Steve. Quite frankly, some people in the investment industry like it that way.
Fee disclosure rules are changing this year though and many Canadians probably noticed this on their December 31, 2016 statements, with new fee and performance information now appearing that has not been so explicit in the past.
There has been more of a push towards fee-based investment advice in recent years as well, where a pre-determined fee is charged as a percentage of your investments. This should not be confused with fee-only financial planning, where a financial planner charges a pre-determined flat fee or hourly fee for financial advice but doesn’t manage your investments.
Fee-based investment advice can be good for an investor because it takes away any potential for a commissioned, transactional advisor to churn an account to increase commissions…
Make Big Banks Put 20% Down—Just Like Home Buyers Do
– online.wsj.com
Financial CEOs say capital requirements are already too high, but the facts suggest otherwise.Food banks take up farming as donations decline
– macleans.ca
Students at the UBC food bank. (Photograph by Della Rollins)TORONTO — In a bid to make up for a shortfall of high-quality nutritious food, some Canadian food banks are growing their own produce — and even farming fish.
The Mississauga Food Bank recently launched AquaGrow Farms, where tilapia is being raised in tanks and lettuce is raised through hydroponics, or without soil.
Executive director Christopher Hatch said the Ontario food bank is the first in Canada to be producing its own fish.
“It’s not a complete solution, but it’s certainly in the right direction and it shows the community we’re thinking creatively about how to solve this problem,” said Hatch.
There were just under 90,000 visits to food banks last year in Mississauga, Canada’s sixth largest city with a population of about 720,000.
Donations of fresh food have been declining and higher food costs make it tougher to stretch donated cash.
“People tend to want to give us a can of soup and box of Kraft Dinner, which is fine, but we’re trying to also source higher-quality nutritional value food,” said Hatch…
