Banking in Canada can be a murky subject – one that we hope to shed some light on with a series of highly informational articles.
Latest News
Getting paid in bitcoin: What you need to know Jun 8th
Would you want to be paid in bitcoin? As bitcoin and other cryptocurrencies become more mainstream, your employer might one day give you the option. And if you’re self-employed, you might consider taking payments in crypto—if you can stomach its volatility. Younger generations, in particular, ar.... More »
St. Lawrence Seaway banks on El Nino, economy after traffic falls 10 per cent Dec 14th
CEO Terence Bowles had anticipated growing global demand for this shipping season, but ultimately the key transportation corridor couldn’t sustain the big upswing since the 2008 financial crash
.... More »
The best GIC rates in Canada for 2025 Apr 7th
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 »
The GTA’s top neighbourhoods + MORE Apr 12th
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Overview
Vancouver
Victoria
.... More »
GOP House OKs $1.1T bill funding government after Obama helps round up Democratic votes Dec 12th
WASHINGTON – Republicans have muscled a $1.1 trillion bill financing government agencies through the House after President Barack Obama phoned Democratic lawmakers and urged them to back the measure.
The House approved the measure late Thursday by 219-206.
The compromise bill keeps agencies fu.... More »
Pro Post: My Bank Was Great – But I Still Switched
– ratesupermarket.ca
When pro poster Pracheer arrived in Canada, he found his banking options to be limited due to his lack of Canadian credit history. However, BMO took a chance on him – and made a loyal customer for life. However, while BMO offered great service, Pracheer took notice of better rates from other lenders… and wasn’t afraid to make the switch.
BMO Took a Chance on Me
Once upon a time, I was a BMO loyalist – and why not? When I immigrated to Canada five years ago, banks were reluctant to issue a credit card to me, even though I had $20,000 to deposit, simply because I had no credit history. At the time, BMO came to my rescue with a $500-limit credit card in exchange for a $5,000 security deposit. I made the monthly payments on time, and they were more than happy to release my security money before schedule.
Sticking Around For Great Service
When my wife joined me in Canada three years back, there was no question in my mind that we would choose BMO for her banking, too…
Pro Post: My Bank Was Great – But I Still Switched
– ratesupermarket.ca
When pro poster Pracheer arrived in Canada, he found his banking options to be limited due to his lack of Canadian credit history. However, BMO took a chance on him – and made a loyal customer for life. However, while BMO offered great service, Pracheer took notice of better rates from other lenders… and wasn’t afraid to make the switch.
BMO Took a Chance on Me
Once upon a time, I was a BMO loyalist – and why not? When I immigrated to Canada five years ago, banks were reluctant to issue a credit card to me, even though I had $20,000 to deposit, simply because I had no credit history. At the time, BMO came to my rescue with a $500-limit credit card in exchange for a $5,000 security deposit. I made the monthly payments on time, and they were more than happy to release my security money before schedule.
Sticking Around For Great Service
When my wife joined me in Canada three years back, there was no question in my mind that we would choose BMO for her banking, too…
HSBC bank’s first-half profits drop 5.4 per cent amid geopolitical tensions, growth concerns
– canadianbusiness.com
LONDON – HSBC, one of the world’s largest banks, warned Monday that fragile growth in the global economy and rising geopolitical tensions will keep it from taking on greater investment risks.
In its earnings update, HSBC said its net income fell 5.4 per cent to $9.46 billion in the first half of the year. The bank, which earns nearly two-thirds of its profit in Asia and is closely watched as a barometer of growth in the region, saw its pre-tax profit fall there by 15 per cent.
Earnings from the investment banking business declined globally by 12 per cent to just over $5 billion.
Chairman Douglas Flint said that with world economies still recovering from the 2008 economic crisis, it was not the time to take chances.
“At a time of residual concerns over the sustainability of economic growth in many major markets and with heightened geopolitical tensions apparent, the board supported management’s view that this was not the time to expand risk appetite to offset the effect of lower revenues…
In its earnings update, HSBC said its net income fell 5.4 per cent to $9.46 billion in the first half of the year. The bank, which earns nearly two-thirds of its profit in Asia and is closely watched as a barometer of growth in the region, saw its pre-tax profit fall there by 15 per cent.
Earnings from the investment banking business declined globally by 12 per cent to just over $5 billion.
Chairman Douglas Flint said that with world economies still recovering from the 2008 economic crisis, it was not the time to take chances.
“At a time of residual concerns over the sustainability of economic growth in many major markets and with heightened geopolitical tensions apparent, the board supported management’s view that this was not the time to expand risk appetite to offset the effect of lower revenues…
