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
9 Best Chequing Accounts in Canada: No-Fee Banking, Welcome Offers, And More + MORE Jul 31st
With so many banking options available in Canada, choosing the best chequing account for your day-to-day banking needs can be challenging. In recent years, online banks have introduced no-fee chequing accounts with other convenient features, making the decision that much tougher.
To help you in your.... More »
With millions of mortgages coming due, finance minister expects banks 'to work with' Canadians - CBC.ca + MORE Nov 26th
With millions of mortgages coming due, finance minister expects banks 'to work with' Canadians CBC.caA Canadian Mortgage Charter, the Home of the Week and more of this week's top real estate stories The Globe and MailThe looming threat of Canada's mortgage renewal crunch &.... More »
The best TD credit cards in Canada 2021 May 31st
Before we talk about the best TD credit cards in Canada, let’s talk about TD. Formed through a merger between financial giants Bank of Toronto and The Dominion Bank in 1955, TD is one of Canada’s big five banks. It offers a wide array of financial services including an impressive portfolio of mo.... More »
Canada’s best balance transfer credit cards 2022 Nov 1st
If you carry a balance on a regular credit card, chances are you’re paying around 20% in interest. At that rate, it can become difficult to keep up with the payments and your debt can spike—fast. Moving your credit card debt to a balance transfer credit card can help you pay off the principal mo.... More »
Canadians’ Spending Habits and Payment Preferences are Changing Jun 17th
According to a recent study by Payments Canada, the COVID-19 pandemic is changing Canadians’ spending habits. The study found that 62% of Canadians are using less cash, and 42% avoid shopping at places that don’t accept contactless payments altogether.
Moreover, 53% of consumers reported using .... More »
What Is CDIC and How Does It Work?
– canadianfinanceblog.com
When you see the purple decal – this is what it means for your savings
For generations, Canadians have been able to place their trust in their financial institutions. In fact, during the global economic crisis of 2008, Canadian banks weathered the storm better than most and were the envy of financial systems around the world. One of the reasons for this is our highly developed banking industry, which is monitored closely by federal regulators and governed by the laws included in The Bank Act.
Introducing CDIC
Canada Deposit Insurance Corporation or CDIC is instrumental in protecting the Canadian financial system. Created by an Act of Parliament in 1967, CDIC is a federal Crown corporation that promotes and contributes to the stability of the Canadian financial system by providing deposit insurance against the loss of part or all of deposits at CDIC’s member institutions in the event of a member institution failure. CDIC is not a bank or private insurance company. It is funded with premiums paid by their member institutions, and while it’s a Crown corporation, it’s not publicly funded…
For generations, Canadians have been able to place their trust in their financial institutions. In fact, during the global economic crisis of 2008, Canadian banks weathered the storm better than most and were the envy of financial systems around the world. One of the reasons for this is our highly developed banking industry, which is monitored closely by federal regulators and governed by the laws included in The Bank Act.
Introducing CDIC
Canada Deposit Insurance Corporation or CDIC is instrumental in protecting the Canadian financial system. Created by an Act of Parliament in 1967, CDIC is a federal Crown corporation that promotes and contributes to the stability of the Canadian financial system by providing deposit insurance against the loss of part or all of deposits at CDIC’s member institutions in the event of a member institution failure. CDIC is not a bank or private insurance company. It is funded with premiums paid by their member institutions, and while it’s a Crown corporation, it’s not publicly funded…