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
What can I hold in an FHSA? Jan 9th
Would Canadians have access to different account types such as GICs and self-directed investing when it comes to the new tax-free first home savings account, which is rumoured to be introduced this year?It seems this would only make sense as it’s the case with other tax-sheltered accounts (i.e.... More »
The best GIC rates in Canada for 2025 + MORE May 21st
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 »
What Is a Credit Bureau? Important Information for Canadian Consumers Apr 29th
Whether we realize it or not, credit bureaus have a significant impact on our financial lives. The information they provide to lenders can determine mortgage rates, lending amounts, and credit card approvals. But what exactly is a credit bureau, and what can you do with their information?
What Is a .... More »
How to invest in cryptocurrency (without losing your shirt) Jan 29th
I have until now not written about the ongoing cryptocurrency boom—but, given the spectacular rise of bitcoin in the last few months, and last week’s subsequent correction, decided it was time.
Upfront, I should disclose I personally started to dabble in this asset class for the first time in th.... More »
Making sense of the Bank of Canada interest rate decision on March 6, 2024 Mar 8th
In its March 6 announcement, the Bank of Canada (BoC) held its trend-setting overnight lending rate at 5% for the fifth consecutive time—and depending on whether you’re a borrower or investor, you’re heaving either a sigh of relief or impatience. Here’s what it means for Canadians.
As a r.... 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
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
1…
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…
