Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
Slow economy expected to weigh on bank earnings Feb 22nd
Weak growth, oil slump and stretched consumers to restrain profits as banks begin reporting this week
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At the open: TSX opens higher as gold miners shine Jul 14th
S&P, Dow flat after mixed big banks’ earnings
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Introducing KOHO, a unique financial service app Aug 17th
Nowadays, consumers can shop around for the low- or no-fee accounts, competitive interest rates, and additional features they want. And banks aren’t the only ones delivering financial services to Canadians. Fintechs, which integrate technologies into the financial sector, have empowered developers.... More »
Greece settles terms with EU to get $14B bailout for banks + MORE Nov 17th
Greece struck a deal with European creditors Tuesday on economic measures it needs to make to get its next batch of bailout money, including a €10 billion ($14.3 billion Cdn) cash injection for its crippled banks..... More »
This mortgage loophole puts us at risk Jun 28th
If the Canadian housing market were to crash it would be catastrophic. At least, that’s the synopsis of the latest Moody’s Investors Service report.
According to their analysis the six big banks would lose nearly $12 billion while CMHC and other mortgage insurers would be on the hook for as muc.... More »
Ruling To Determine Future of Credit Card Swipe Fees in Canada
– ratesupermarket.ca
A ruling by the Federal Competition Tribunal this Tuesday will decide whether merchants have the right refuse acceptance of some premium credit card types or impose fees on consumers who pay with them.
The ruling targets the practices of credit card giants MasterCard and Visa, who impose these fees on merchants when processing credit card payments made with high reward or point-earning credit cards. While the fees are put in place to cover the cost of paying those rewards out to the consumer, they also force retailers to incur an additional cost when accepting these methods of payment, known as “swipe charges”. Not only are these charges especially daunting for small businesses, they have also forced some merchants to increase the costs of their goods and services – ultimately hitting consumers in the pocketbook.
A Long Standing Issue
The complaint was first registered with the Tribunal in 2012 by Canada’s Commissioner of Competition, but this has long been a sore spot between retailers and the credit card companies…
A U.S. Senate banking committee begins looking Tuesday at whether big American banks can both trade commodities and hold physical assets related to shipping oil and metals.
Check Insurance Coverage When Car Sharing
– ratesupermarket.ca
As gas prices continue to climb, the average annual cost of driving even a small car is now somewhere around $10,000, according to the Canadian Automobile Association.
So it’s not surprising that thousands of Canadians carpool to work or school, both to save money and preserve their vehicles. In fact, car ownership is making less and less sense to many people, especially those who live in the city and can bike or grab a bus.
And yet, there are times when having a car – or at least access to one – is still a bit of a must. That’s why more and more urban drivers are looking at car-sharing services that allow drivers to rent cars by the day, or even the hour.
Editor tip: If you’re looking to save even more on gas, try using a gas rewards or cash back rewards credit card when filling up. A great option is the MBNA Smart Cash Master Card credit card, which awards up to five per cent cash back for the first six months (up to two per cent after that) on gas and grocery purchases…
