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
Watchdog to probe how banks handle complaints + MORE Nov 22nd
The Financial Consumer Agency of Canada has got the green light to probe how banking customer complaints are handled internally and by external complaint bodies..... More »
Good habits that can help you improve your credit score Jan 1st
You probably know you should care about your credit score, but do you know why? Simply put, this three-digit number can either help or hurt you in your journey towards financial wellbeing—and it can have far-reaching effects.
Your credit score affects your chances of getting approved for a cre.... More »
It’s Bonus Season: 6 Credit Cards with Extra Rewards Feb 3rd
From December to February, many employees see a holiday bonus land on their desks. It’s what we call Bonus Season! To celebrate, we’ve selected six great rewards credit cards for our Bonus Season Event. On top of the great welcome offers, points, or cash back rates offered by these cards, you.... More »
Applying for a credit card? Here’s what you should know before getting one Jul 7th
The convenience of making purchases with your credit card comes with many advantages, like rewards, perks and a solid credit history. However, if used irresponsibly, this financial tool can lead to unmanageable debt and a low credit score. So, how can you be a responsible credit card owner? I will e.... More »
Before It’s Too Late! Best Credit Card Welcome Offers of June 2019 Jun 3rd
We usually sign up for credit cards because of special features and benefits – from cash-back earning rates to travel perks to balance transfer offers. And one feature that may make or break your decision between one credit card or another is the welcome promotion – a special bonus that adds va.... More »
Simplii Financial and BMO Warn of Data Breach; Customers Report Money Lost
– ratesupermarket.ca
If you bank with BMO or CIBC’s Simplii Financial, your account may have been compromised.
On Monday, both banks started to alert clients that “fraudsters” may have accessed sensitive account information. Simplii reported that up to 40,000 of their customers may have been affected while BMO declined to release an estimate.
Simplii was the first to come public with news of a data breach. The bank said it received a tip over the weekend that hackers had obtained account information from a limited amount of clients.
“We’re taking this claim seriously and have taken action to further enhance our monitoring and security procedures,” said Michael Martin, the bank’s senior vice-president, in a statement.
According to 680 News, a Simplii customer has already reported $2,889 being mysteriously withdrawn from her account. She also told 680 News that her personal information was changed and that she reported this incident to the RCMP.
Simplii says the investigation is continuing, and it will notify affected clients through all available channels…
Two Canadian banks warned Monday they have been targeted by hackers, and that the personal information of tens of thousands of customers may have been stolen — something that appeared to be confirmed in a letter to the media from someone who said they were demanding a $1-million ransom from the banks.
Simplii Financial and BMO Warn of Data Breach; Customers Report Money Lost
– ratesupermarket.ca
If you bank with BMO or CIBC’s Simplii Financial, your account may have been compromised.
On Monday, both banks started to alert clients that “fraudsters” may have accessed sensitive account information. Simplii reported that up to 40,000 of their customers may have been affected while BMO declined to release an estimate.
Simplii was the first to come public with news of a data breach. The bank said it received a tip over the weekend that hackers had obtained account information from a limited amount of clients.
“We’re taking this claim seriously and have taken action to further enhance our monitoring and security procedures,” said Michael Martin, the bank’s senior vice-president, in a statement.
According to 680 News, a Simplii customer has already reported $2,889 being mysteriously withdrawn from her account. She also told 680 News that her personal information was changed and that she reported this incident to the RCMP.
Simplii says the investigation is continuing, and it will notify affected clients through all available channels…