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?
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Visa vs. Mastercard: What are the differences (and do they really matter)? Jun 19th
A frequent question we hear at MoneySense is: Which is better—Visa or Mastercard? When looking for a credit card, there are all sorts of things to consider. What is the interest rate? Can you collect rewards points or get cash back for making purchases? Is there a bonus for signing up, and what ar.... More »
With millions of mortgages coming due, finance minister expects banks 'to work with' Canadians - CBC.ca + MORE Nov 26th
With millions of mortgages coming due, finance minister expects banks 'to work with' Canadians CBC.caA Canadian Mortgage Charter, the Home of the Week and more of this week's top real estate stories The Globe and MailThe looming threat of Canada's mortgage renewal crunch &.... More »
Making sense of the markets this week: July 31 Jul 30th
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
With earnings season in full swing, there’s a lot to catch up on this week, as we try to make sense of the markets that defy being d.... More »
American Express Increases the Value of Points for Purchases Jun 3rd
For a limited time, American Express is offering consumer cardmembers more value for Points for Purchases. From April 17, until September 30, 2020, cardholders can use 1,000 points for a $10 statement credit on all eligible non-travel related purchases. That means Membership Rewards points are curr.... More »
Should You Add an Authorized User to Your Credit Card? Mar 20th
Most credit card companies allow their cardholders to add an authorized user to their account – but why would you want to? There are various benefits; for example, you can kickstart your child’s credit history or provide a helping hand to a friend in a financial crisis. While these benefits.... More »
Oaken Financial Review: High Interest Savings With No Gimmicks
– canadianfinanceblog.com
Recently, I wrote an article comparing the top high-interest savings accounts in Canada. It perhaps should come as no surprise that the vast majority of the accounts that made the cut were online bank offerings, from the likes of Tangerine, EQ, and Simplii. Free from the high overhead of traditional brick and mortar financial institutions, online banks are able to entice Canadians with lower fees and higher savings interest.
Oaken Financial was not included in my review, but they are a worthy competitor in the online banking space, specifically for their high-interest savings and GIC account offering. In the near future, I will make a point to update the other article to include Oaken, but for the time being, I’ve put together this full review. Enjoy!
Introducing Oaken Financial
Oaken Financial is a fully digital bank. While they do have a handful of offices in major cities, their services are designed to be delivered online. Oaken was founded in 2013 and is backed by Home Bank, which is a subsidiary of Home Trust Company…
Oaken Financial was not included in my review, but they are a worthy competitor in the online banking space, specifically for their high-interest savings and GIC account offering. In the near future, I will make a point to update the other article to include Oaken, but for the time being, I’ve put together this full review. Enjoy!
Introducing Oaken Financial
Oaken Financial is a fully digital bank. While they do have a handful of offices in major cities, their services are designed to be delivered online. Oaken was founded in 2013 and is backed by Home Bank, which is a subsidiary of Home Trust Company…