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
Canadians Are Willing to Switch Banks… If the Price is Right + MORE Aug 20th
RateSupermarket.ca survey finds average cost of bank loyalty to be $644.43
Canadians may be a loyal bunch when it comes to the “Big 5” lenders – but even the most dedicated consumer would switch banks for significant savings. A recent survey conducted by RateSupermarket.ca, Canada.... More »
Find out if you should go robo + MORE May 19th
(Illustration by Raymond Biesinger)
There’s a new way of managing your money that’s beginning to shake up the investment world. Online portfolio managers—better known as “robo-advisors”—are designed for today’s digital world and provide you with a professionally managed portfolio at lo.... More »
Canadians had more complaints than usual about their banks last year, ombudsman says Mar 17th
Canadians had 28 per cent more gripes about their banks last year than they did in 2016, according to a new report from the ombudsman overseeing the industry, with bogus credit card charges a particular thorn in the side of many customers..... More »
Preview of Banks' Q3 2017 Earnings + MORE Aug 22nd
Scotia Capital, 21 August 2017
• Despite the favourable combination of strong operating performance (13% YoY EPS growth in 1H/17) and a resurgent domestic economy that underpinned the first rate hike from the BoC in seven years, Canadian bank stocks have run in place for much of 2017, with the TSX.... More »
Fitch Ratings joins Moody’s, Standard & Poor’s in passing judgment on Chicago’s finances + MORE May 16th
CHICAGO – Fitch Ratings is the latest agency to weigh in on Chicago’s credit worthiness, setting the city’s debt rating above the junk status given by Moody’s Investors Service.
By lowering the city’s rating to BBB+ from A-, Fitch Ratings indicated Friday that it believ.... More »
Mortgage Market Madness?
– ratesupermarket.ca
Are we in for a second round of the Great Canadian Mortgage wars? The 5-year fixed cost of borrowing plunged this week to 2.99%, sparking a flurry of headlines and speculation. Will this cause the housing market to reheat to dangerous levels? Should buyers rush into the market? Will Jim Flaherty have to make a call? Read our special coverage to find out!
We’re also in the midst of RRSP season – are you caught up on this year’s contributions? A new study finds Canadians are turning away from RRSPs as a savings method – but are they risking their retirement funds in the process?
2.99% Mortgage Rates Are Back!
This Monday, the lowest five-year fixed mortgage rates dropped as low as 2.99% – a new record not seen since last August. Such discounted rates mean big savings for home buyers – read on to see what your monthly payments would be, compared to rates from the big banks.
Read Penelope’s Blog | 2.99% Mortgage Rates Are Back!
What Canadian Investors Should Know About The Fragile 5
Concern about growth in China and other emerging markets triggered a wave of selling in less developed economies last week…
Barclays to cap cash bonuses at £140,000
– theglobeandmail.com
Other banks have also set limits on upfront cash awards
TD accepts RBC’s gauntlet throwdown. Who’s next?
– moneysense.ca
You may recall earlier this year MoneySense suggested that lower trading commissions could become the norm for Canada’s big banks, following RBC’s mid-January announcement that all DIY investors would now pay only a flat commission of $9.95 per equity trade through RBC Direct Investing online and mobile channels. Now TD Direct Investing has responded in kind.
Effective today, TD Bank Group has scrapped its minimum account balance or trading activity requirements for its Direct Investing platform. Previously, DIY clients who held less than $50,000 in assets or traded fewer than 30 times per quarter paid $29 plus charges for trades larger than 1,000 shares. But now all TD Direct Investing users will pay $9.99 for Canadian and U.S. equity trades placed online or through its mobile and tablet apps.
Being an active trader at TD, however, continues to have its privileges. As before, those who place 150 or more trades per quarter will pay a lower $7.00 flat rate per equity trade.
No doubt, DIY investors who use other bank’s online brokerages are now wondering if their financial institution will follow RBC and TD’s move…
Effective today, TD Bank Group has scrapped its minimum account balance or trading activity requirements for its Direct Investing platform. Previously, DIY clients who held less than $50,000 in assets or traded fewer than 30 times per quarter paid $29 plus charges for trades larger than 1,000 shares. But now all TD Direct Investing users will pay $9.99 for Canadian and U.S. equity trades placed online or through its mobile and tablet apps.
Being an active trader at TD, however, continues to have its privileges. As before, those who place 150 or more trades per quarter will pay a lower $7.00 flat rate per equity trade.
No doubt, DIY investors who use other bank’s online brokerages are now wondering if their financial institution will follow RBC and TD’s move…
Mortgage Market Madness?
– ratesupermarket.ca
Are we in for a second round of the Great Canadian Mortgage wars? The 5-year fixed cost of borrowing plunged this week to 2.99%, sparking a flurry of headlines and speculation. Will this cause the housing market to reheat to dangerous levels? Should buyers rush into the market? Will Jim Flaherty have to make a call? Read our special coverage to find out!
We’re also in the midst of RRSP season – are you caught up on this year’s contributions? A new study finds Canadians are turning away from RRSPs as a savings method – but are they risking their retirement funds in the process?
2.99% Mortgage Rates Are Back!
This Monday, the lowest five-year fixed mortgage rates dropped as low as 2.99% – a new record not seen since last August. Such discounted rates mean big savings for home buyers – read on to see what your monthly payments would be, compared to rates from the big banks.
Read Penelope’s Blog | 2.99% Mortgage Rates Are Back!
What Canadian Investors Should Know About The Fragile 5
Concern about growth in China and other emerging markets triggered a wave of selling in less developed economies last week…
