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
Retired RBC executive to chair new federal infrastructure bank + MORE Jul 7th
The federal government is hiring the former chief financial officer at one of Canada's largest banks to help oversee its new infrastructure-financing agency. Janice Fukakusa will chair the new board of the Canada Infrastructure Bank..... More »
Is an all-weather portfolio the answer to the shortage of “safe” investments? Jan 25th
For retirees and near retirees, it can sometimes seem like there’s no such thing as a “safe” investment—especially now. Even bonds and bond funds, typically considered the safest of investment—suffered losses in 2021, as interest rates were poised to rise. Now that central banks have said .... More »
The best GIC rates in Canada for 2026 May 25th
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 navigate m.... More »
Credit vs. Debit: Know the Differences + MORE Dec 1st
By: Barry Choi
We all carry credit and debit cards in our wallets, but when it comes time to pay, which one you reach for for can leave an impact in a few different ways. Which option you choose is ultimately up to you, but it’s important to understand what goes on behind the scenes since debit a.... More »
Best No-Fee Bank Accounts in Canada + MORE Oct 6th
Tired of paying monthly fees when you bank? If so, you may want to consider switching to a no-fee bank account. Unfortunately, Canada’s big banks offer little in the way of free chequing accounts, unless you can maintain a high balance in your account each month.
If you’re willing to con.... More »
Documents required to get the best mortgage rate
– moneysense.ca
(Getty Images/Catherine Lane)Buying a house or investment property? We often hear how important it is to get pre-approved for your mortgage amount: It helps us understand our maximum house-price, the down-payment required and the monthly payments we’ll need to make once we purchase the property. But the difference between the pre-approval and the approval process is so vastly different that many buyers are often left feeling stressed and anxious during the week or two that financing is being finalized.
To help you avoid this aggravation and anxiety, I’ve put together a little mortgage approval cheat sheet. This should help you understand what documents and paperwork you will need to actually get a mortgage—and reduce the stress during this period of the home buying process.
Mortgage pre-approval process
This isn’t actually a process—it’s more of a marketing tool. By setting up mortgage calculators, online instantaneous pre-approval applications, and advertising low mortgage rates banks and lenders are really trying to capture your mortgage business…
Greek banks reopen with cash withdrawal limits
– moneysense.ca
ATHENS, Greece – Greek banks are reopening Monday after a forced 3-week closure but restrictions on cash withdrawals will remain.
In a decree Saturday, the Greek government kept the daily cash withdrawal limit at 60 euros ($65) but added a weekly limit. For example, a depositor who doesn’t withdraw cash on Monday can withdraw 120 euros ($130) on Tuesday, and so on, up to 420 euros ($455) a week.
Bank customers will still not be able to cash checks, only deposit them into their accounts, and will not be able to get cash abroad with their credit or cash cards, only make purchases. There are also restrictions on opening new accounts or activating dormant ones.
Travelling to Greece? Bring cash and cards »
In a decree Saturday, the Greek government kept the daily cash withdrawal limit at 60 euros ($65) but added a weekly limit. For example, a depositor who doesn’t withdraw cash on Monday can withdraw 120 euros ($130) on Tuesday, and so on, up to 420 euros ($455) a week.
Bank customers will still not be able to cash checks, only deposit them into their accounts, and will not be able to get cash abroad with their credit or cash cards, only make purchases. There are also restrictions on opening new accounts or activating dormant ones.
Travelling to Greece? Bring cash and cards »
The decree also pushes back by a month, to August 26, the deadline for filing income tax returns.
The degree came on the same day as Greece’s coalition government swore in its new, reshuffled cabinet. Five prominent dissidents from the radical left Syriza party, the senior coalition party, were replaced…
Banks reopen in Greece
– canoe.ca
Greece reopened its banks and started the process of paying off billions of euros owed to international creditors on Monday in the first signs of a return to normal after a deal to agree a new package of bailout reforms.
Greek banks opened their doors Monday for the first time in over three weeks, a move that the government hopes will help the economy get back to normal following a period dominated by fears over the country’s future in the euro.
