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
Credit Memo vs. Debit Memo: What’s the Difference? Apr 8th
If you pay close attention to your bank statements, you may notice an item labelled, “credit memo”, from time to time. But without more information, it’s hard to know what the credit memo is for; why you received extra money in your account. The same goes for “debit memos.” Businesses also.... More »
Airline & Travel Rewards Programs are Responding to COVID-19 + MORE May 8th
The COVID-19 virus has caused a global pandemic and forced countries around the world to close their borders to visitors. While this is the right move to curb the spread of the virus and flatten the curve, the result is that many Canadians have found themselves postponing travel plans indefinitely..... More »
Reddit community WallStreetBets squeezes short sellers - ABC News + MORE Jan 28th
Reddit community WallStreetBets squeezes short sellers ABC News2 short sellers admit defeat, bail out at huge loss as GameStop share surge hits 1000% CBC.caCanadian banks report disruptions as traders pile into BlackBerry, GameStop shares The Globe and MailOpinion: W.... More »
Business Highlights Feb 10th
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Yellen: Persistent economic weakness could slow rate hikes
WASHINGTON (AP) — Federal Reserve Chair Janet Yellen cautioned Wednesday that global weakness and falling financial markets could depress the U.S. economy’s growth and slow the pace of Fed interest rate hikes.
But Yellen made cle.... More »
Engineering a profitable portfolio Apr 19th
Somayaji Ayalasomayajula, 22, Mechanical Engineer, Toronto
I’ve been interested in growing my money since I was 12. At a pretty young age my dad gave me some money and helped me buy a GIC (guaranteed income certificate) with it. I think the aim was to help me see how money grows through interest a.... More »
Regulators close The Bank of Georgia in the 7th bank failure of 2015
– canadianbusiness.com
Regulators are closing a small Georgia bank, marking the seventh failure of a federally insured bank this year.
The Bank of Georgia, based in Peachtree City, Georgia, was closed Friday, the Federal Deposit Insurance Corp. said.
Fidelity Bank, a subsidiary of Fidelity Southern Corp., agreed to buy $255.3 million of the failed bank’s assets and will gain seven locations.
As of June 30, The Bank of Georgia had about $294.2 million in total assets and $280.7 million in total deposits.
The failure is expected to cost the FDIC $23.2 million.
According to the FDIC, a total of 18 banks failed in 2014. That’s down from 24 the year before, and far below the 157 banks that went under in 2010 in the wake of the financial crisis.
The post Regulators close The Bank of Georgia in the 7th bank failure of 2015 appeared first on Canadian Business – Your Source For Business News.
The Bank of Georgia, based in Peachtree City, Georgia, was closed Friday, the Federal Deposit Insurance Corp. said.
Fidelity Bank, a subsidiary of Fidelity Southern Corp., agreed to buy $255.3 million of the failed bank’s assets and will gain seven locations.
As of June 30, The Bank of Georgia had about $294.2 million in total assets and $280.7 million in total deposits.
The failure is expected to cost the FDIC $23.2 million.
According to the FDIC, a total of 18 banks failed in 2014. That’s down from 24 the year before, and far below the 157 banks that went under in 2010 in the wake of the financial crisis.
The post Regulators close The Bank of Georgia in the 7th bank failure of 2015 appeared first on Canadian Business – Your Source For Business News.
A look at Experian, the credit monitoring company at the centre of the T-Mobile data breach
– canadianbusiness.com
NEW YORK, N.Y. – In the latest high-profile breach of a U.S. organization, hackers broke into Experian’s database of information on 15 million T-Mobile customers and potential customers. But what is Experian, and why does the credit bureau keep data on a wireless carrier’s customers?
Here’s a Q&A about what happened at Experian and what could happen next.
WHAT INFORMATION DOES EXPERIAN HAVE ON ME?
If you’ve applied for a credit card, mortgage, student loan or any financial product in the last three decades, Experian likely has some sort of data on you. The Consumer Financial Protection Bureau estimates Experian, Equifax and TransUnion hold records on more than 200 million Americans.
The data can be basic information like your address and birthdate. But if you’ve applied for credit, the agencies could know more about your financial situation than your parents or spouse do. They’ll have your Social Security number, all of the banks you have credit card accounts with, the limit on those cards and if you pay them down regularly…
Here’s a Q&A about what happened at Experian and what could happen next.
WHAT INFORMATION DOES EXPERIAN HAVE ON ME?
If you’ve applied for a credit card, mortgage, student loan or any financial product in the last three decades, Experian likely has some sort of data on you. The Consumer Financial Protection Bureau estimates Experian, Equifax and TransUnion hold records on more than 200 million Americans.
The data can be basic information like your address and birthdate. But if you’ve applied for credit, the agencies could know more about your financial situation than your parents or spouse do. They’ll have your Social Security number, all of the banks you have credit card accounts with, the limit on those cards and if you pay them down regularly…
It’s Credit Crunch Time
– ratesupermarket.ca
Having great credit is the base for financial security – and your key to qualifying for mortgages, auto and other loans at the best rates. But building a solid score often means using a credit card, and that can lead to a debt spiral rather than stellar consumer standing. And Canadians are charging it more than ever – the latest numbers show our nation’s debt-to-income ratio has hit a new record of 164.4%.
How can we keep debt under control and create great credit? Read on for the full story.
What Are Credit Card Grey Charges?
Are you unwittingly paying pesky hidden credit card grey charges? If you’re like most Canadians, chances are there’s a couple on your statement. Here’s how to catch these background charges – and how to stop paying them for good.
Read Amanda’s Blog | What Are Credit Card Grey Charges?
How Can Students Build Credit?
Students are often carrying a ton of debt – so is it really smart to add a credit card to the mix? Often enough, yes, as these years are the prime time for young adults to build their credit histories…
