The “Big Five” Canadian banks include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Are there other viable options?
Latest News
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Customer says BMO ignored her plea to cap limit on joint line of credit with ex: debt more than doubles Apr 9th
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Robo adviser Wealthsimple launches savings account with premium rate
– canadianbusiness.com
TORONTO _ Robo-adviser Wealthsimple is hoping to lure clients away from traditional financial institutions by launching a savings account with a premium interest rate.
The Smart Savings account, launched in Canada and the U.S. on Thursday, will offer a 1.7 per cent interest rate north of the border. That’s higher than the average offering for similar accounts at Canada’s biggest financial institutions, said Wealthsimple’s chief executive Michael Katchen.
“In this space, this will always be premium to the Big Five banks,” he said in an interview.
It is the first non-investment product for the Toronto-based digital wealth management firm, marking a further step into the banking realm as Canadians increasingly do their financial transactions online.
Wealthsimple savings accounts were offered as a test to a small group of clients in January and were opened up to the rest of its customers in Canada and the U.S. on Thursday with a minimum deposit of $1.
It has partnered with EQ Bank, which is backed by federally regulated Equitable Bank, to offer the accounts in Canada…
The Smart Savings account, launched in Canada and the U.S. on Thursday, will offer a 1.7 per cent interest rate north of the border. That’s higher than the average offering for similar accounts at Canada’s biggest financial institutions, said Wealthsimple’s chief executive Michael Katchen.
“In this space, this will always be premium to the Big Five banks,” he said in an interview.
It is the first non-investment product for the Toronto-based digital wealth management firm, marking a further step into the banking realm as Canadians increasingly do their financial transactions online.
Wealthsimple savings accounts were offered as a test to a small group of clients in January and were opened up to the rest of its customers in Canada and the U.S. on Thursday with a minimum deposit of $1.
It has partnered with EQ Bank, which is backed by federally regulated Equitable Bank, to offer the accounts in Canada…
Wealthsimple launches savings account with premium rate
– moneysense.ca
TORONTO —Robo-adviser Wealthsimple is hoping to lure clients away from traditional financial institutions by launching a savings account with a premium interest rate.
The Smart Savings account, launched in Canada and the U.S. on Thursday, will offer a 1.7 per cent interest rate north of the border. That’s higher than the average offering for similar accounts at Canada’s biggest financial institutions, said Wealthsimple’s chief executive Michael Katchen.
“In this space, this will always be premium to the Big Five banks,” he said in an interview.
It is the first non-investment product for the Toronto-based digital wealth management firm, marking a further step into the banking realm as Canadians increasingly do their financial transactions online.
Wealthsimple savings accounts were offered as a test to a small group of clients in January and were opened up to the rest of its customers in Canada and the U.S. on Thursday with a minimum deposit of $1.
It has partnered with EQ Bank, which is backed by federally regulated Equitable Bank, to offer the accounts in Canada…
The Smart Savings account, launched in Canada and the U.S. on Thursday, will offer a 1.7 per cent interest rate north of the border. That’s higher than the average offering for similar accounts at Canada’s biggest financial institutions, said Wealthsimple’s chief executive Michael Katchen.
“In this space, this will always be premium to the Big Five banks,” he said in an interview.
It is the first non-investment product for the Toronto-based digital wealth management firm, marking a further step into the banking realm as Canadians increasingly do their financial transactions online.
Wealthsimple savings accounts were offered as a test to a small group of clients in January and were opened up to the rest of its customers in Canada and the U.S. on Thursday with a minimum deposit of $1.
It has partnered with EQ Bank, which is backed by federally regulated Equitable Bank, to offer the accounts in Canada…
Pot sector financings face ‘enhanced’ due diligence, BMO CEO says
– canadianbusiness.com
TORONTO _ The Bank of Montreal, the first of Canada’s biggest lenders to co-lead a cannabis company financing, puts potential sector deals through an “enhanced due diligence process,” its chief executive says.
Darryl White said Thursday that on top of examining factors such as company quality and reputational risk, Canada’s fourth largest lender also ensures there is no “nexus” to the U.S., where cannabis is illegal under federal law.
BMO casts a “broad net” when assessing a company’s U.S. ties, including criteria such as supplier relationships, manufacturing facilities, and intentions to list shares in the U.S., he added.
“If it passed all those tests, what is the argument against?” White told reporters after the lender’s annual meeting of shareholders.
Canada’s largest banks had largely steered clear of the country’s cannabis sector until January, when BMO co-led a $175 million bought deal financing for licensed producer Canopy Growth Corp…
Darryl White said Thursday that on top of examining factors such as company quality and reputational risk, Canada’s fourth largest lender also ensures there is no “nexus” to the U.S., where cannabis is illegal under federal law.
BMO casts a “broad net” when assessing a company’s U.S. ties, including criteria such as supplier relationships, manufacturing facilities, and intentions to list shares in the U.S., he added.
“If it passed all those tests, what is the argument against?” White told reporters after the lender’s annual meeting of shareholders.
Canada’s largest banks had largely steered clear of the country’s cannabis sector until January, when BMO co-led a $175 million bought deal financing for licensed producer Canopy Growth Corp…
