Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
Canada’s best cash back credit cards 2022 Aug 31st
Cash back credit cards are an extremely popular type of rewards card in Canada. They’re easy to use, don’t require participation in loyalty programs, and they let you earn the most flexible reward of all—cash! When you make purchases with a cash back card, you get a percentage back. When you r.... More »
How GICs can help you save for your short-term goals Nov 23rd
Let’s talk about short-term savings. By short-term, we’re talking about putting away money for a few months, or even a few years, for a big goal, like a vacation, a wedding or a down payment on a home. Where should you put your savings so they’ll be secure and work for you?
When saving,.... More »
Is probate an inevitable cost for a surviving spouse? Feb 12th
Q. My husband and I have lived in our principal residence for 40 years. The house is held solely in his name, and I am the beneficiary of his will. Would the house have to be included in probate of his estate, should he predecease me?
–Sandra
A. Your seemingly simple question has a historic twist.... More »
Motive Financial Review – Canada’s Best High Interest Savings Account? Jul 18th
Motive Financial is the online banking arm of Canadian Western Bank, which is a Schedule I bank. As with other online only banks, such as Tangerine or EQ, Motive has become popular with Canadians who appreciate the low fees an higher interest that they are able to offer. But how does Motive measure .... More »
Making sense of the markets this week: March 5, 2023 Mar 3rd
Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors.
Canadian banks take rising costs and recovery dividend in stride
There is no shortage of headwinds for Canadian banks at the moment.... More »
Online and Mobile Banking During the COVID-19 Pandemic
– ratesupermarket.ca
Canadians are using social distancing to prevent the spread of COVID-19. As a result, banks have closed their doors or reduced their hours of operation. Many Canadians are turning to technology to manage their finances instead. Naturally, this has caused a spike in the use of online and mobile banking.
There haven’t been any recent reports of disruptions to the quality of online and mobile banking, making it an excellent alternative to visiting a branch during this global crisis. Banks have already invested a lot into their digital channels, allowing them to manage the surplus of customers with little to no issues.
Banking App Satisfaction in Canada
A survey by J.D. Power, released in June of 2019, discovered that Canadians have become less satisfied with banking apps with the introduction of other digital channels. Digital banking comes in three forms: mobile apps, online websites and ATMs. While mobile apps may be less favourable to different types of digital banking, the virtual world of banking has become quintessential to the customer experience…
BMO Preferred Rate Mastercard review
– moneysense.ca
Low interest credit cards are more valuable than cash back or rewards cards for people who tend to run a balance. At the regular rate of around 19.99% that most credit cards charge on unpaid balances, interest can add up fast and cancel out any other rewards you might be generating. With a regular interest rate of 12.99%, the BMO Preferred Rate Mastercard can help keep more of your money in your pocket, and its balance transfer promotion can help you pay down debt from your other, higher-interest, cards.
With BMO as the card issuer, the Preferred Rate Mastercard is also ideal for those who prefer keeping all their accounts with a single provider, or who like their card to be affiliated with one of the big banks.
BMO Preferred Rate Mastercard quick facts
With BMO as the card issuer, the Preferred Rate Mastercard is also ideal for those who prefer keeping all their accounts with a single provider, or who like their card to be affiliated with one of the big banks.
BMO Preferred Rate Mastercard quick facts
Annual fee
$20 (waived for first year)
Annual interest rate
12.99% on purchases and cash advances
Balance transfer offer
3.99% introductory rate for 9 months (after which an interest rate of 12.99% applies)
Income requirement
None specified
Best feature
Low interest rate on purchases and cash advances
Who it’s best for
People who carry a balance and are looking to save on interest
Get more details about the BMO Preferred Rate Mastercard*
5 things to know about the BMO Preferred Rate Mastercard
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Online and Mobile Banking During the COVID-19 Pandemic
– ratesupermarket.ca
Canadians are using social distancing to prevent the spread of COVID-19. As a result, banks have closed their doors or reduced their hours of operation. Many Canadians are turning to technology to manage their finances instead. Naturally, this has caused a spike in the use of online and mobile banking.
There haven’t been any recent reports of disruptions to the quality of online and mobile banking, making it an excellent alternative to visiting a branch during this global crisis. Banks have already invested a lot into their digital channels, allowing them to manage the surplus of customers with little to no issues.
Banking App Satisfaction in Canada
A survey by J.D. Power, released in June of 2019, discovered that Canadians have become less satisfied with banking apps with the introduction of other digital channels. Digital banking comes in three forms: mobile apps, online websites and ATMs. While mobile apps may be less favourable to different types of digital banking, the virtual world of banking has become quintessential to the customer experience…