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.
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The best student credit cards in Canada for 2023 + MORE Sep 2nd
Credit Cards
The best student credit cards in Canada for 2023
Searching for the perfect credit card? In under 60 seconds, CardFinder narrows down your top matches without impacting your credit score, no SIN required.
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The best GIC rates in Canada for 2025 + MORE Jan 5th
GIC comparison tool
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
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MoneySense is an award-winning magazine, helping Canadians navigate m.... More »
Canadian Credit Card Companies Are Offering Relief to Customers Affected by COVID-19 + MORE Mar 24th
Early last week, the government announced a myriad of relief efforts, including immediate plans to extend the 2019 tax deadline for individuals to June 1, 2020. Following suit, major cities, including Toronto, granted extensions to grace periods for utility bill payments and launched measures for f.... More »
Visa vs. Mastercard: What are the differences—and do they matter? Aug 21st
A frequent question we hear at MoneySense is: Which is better—Visa or Mastercard? When looking for a credit card, there are all sorts of things to consider. What is the interest rate? Can you collect rewards points or cash back for making purchases? Is there a bonus for signing up, and what perks .... More »
Banking with a credit union can save on fees—but there are limitations + MORE Aug 29th
On the surface, banking with a credit union may seem a lot like a traditional bank. But it’s not.
Credit unions are similar to commercial banks in that they offer chequing and savings accounts, mortgages, business loans, online banking and registered savings plans—all for lower or no fees .... 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…
