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
Of government and golf courses: Mulroney’s East Coast experiment, 30 years later Dec 11th
HALIFAX _ Ben Cowan-Dewar was a bright-eyed 25-year-old entrepreneur when he visited Inverness, N.S., and saw a jaw-dropping landscape fit for a luxury golf course.
Past the abandoned mines and hardscrabble edges of the Cape Breton village, he envisioned a boutique 18-hole course and upscale resort .... More »
The best GIC rates in Canada for 2024 + MORE Oct 8th
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 »
How to save on foreign exchange fees on vacation Jun 4th
OTTAWA – There are credit cards for major expenses like flights and hotels, Uber for getting around and Android or Apple Pay on smartphones.
But travellers still need at least a little cash if they’re vacationing outside of Canada this summer, and that means swapping loonies for euros, yuan or o.... More »
Major banks plead guilty to market rigging, fined $6B + MORE May 21st
Four major banks agreed to plead guilty on Wednesday to trying to manipulate foreign exchange rates and six were fined nearly $6 billion in yet another settlement in a global probe into the $5-trillion-a-day market..... More »
Canadians becoming less dependent on banks: survey + MORE Oct 21st
TORONTO – A new survey from EY suggests Canadians are becoming less dependent upon their banks as the main providers of financial services.
The business consultancy firm says a quarter of those polled agreed with the statement, “I’m less reliant on established (financial services) companies an.... More »
EU fines JPMorgan over rate rigging
– theglobeandmail.com
Three banks fined nearly $135-million for taking part in cartels
Moody’s concerned about Canada’s household debt
– thestar.com
Moody’s says the combination of rising household debt and rising home prices creates a risk for the country’s banks and Ottawa, which guarantee a ‘considerable’ portion of mortgages.The Top 5 MasterCards in Canada
– ratesupermarket.ca
On the hunt for a MasterCard? The credit company – one of Canada’s big three – offers a huge selection of credit card types, designed to suit your specific spending needs and reward preferences. Which one is best for you? Read on for our top 5 MasterCard picks.
What’s included with every MasterCard
Every MasterCard, regardless of lender, is outfitted with the following features:
MasterCard Global Service: Every MasterCard cardholder has 24/7 telephone help access for their card, whether they require emergency card replacement, a cash advance, or referral to the closest ABM.
Zero Liability: You won’t be on the hook for any charges if your card is stolen, or if payments are processed without your authorization.
What’s included with a World MasterCard
Bumped your card up to the next level? Here are the perks you can expect to receive.
Price Protection: This coverage will pay for the difference of a new purchase should it go on sale within 60 days. Up to $100 per item is covered,with a maximum of $500 every calendar year…
(Ryan Remiorz/The Canadian Press)OTTAWA – Canada is maintaining its triple-A credit rating thanks to a steady economic outlook, but the country also faces potential risks amid mounting household debt and climbing house prices, Moody’s Investor Service said.
The U.S. credit rating agency said in a report Monday that Canada’s top grade was supported by a “relatively solid economic performance,” a strong banking system, relatively low government debt and a projected balanced budget following a series of deficits.
“After a recession at the time of the global financial crisis, the economy recovered and continues to show positive momentum, supporting improvement in government finance,” said the Moody’s assessment.
However, the research identified possible risks linked to Canada’s high household debt and a “particularly inflated” housing market in some big-city areas — both of which, the paper noted, continue to rise.
“This combination presents a potential risk to the banks and to the federal government directly, as it guarantees a considerable portion of mortgages,” said the report, co-authored by Steve Hess and Dmytro Kulakovskyi…
