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
Deviating from Bank of Canada may be a good thing for banks + MORE Jul 17th
With the banks now taking Bank of Canada rate cuts as more of a guideline than a directive, their margins may be about to improve
.... More »
The best credit cards in Canada for 2023 + MORE Sep 15th
Spend
The best 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.
Find my perfect card*
.... More »
Canadians mostly happy with grocers despite bread price fixing scheme: survey + MORE Feb 21st
TORONTO _ A new survey suggests Canadians still have a strong relationship with their grocer _ with only about a third of respondents saying their view of their favoured retailer has worsened following revelations of an alleged industry-wide bread price-fixing scandal.
The annual online survey by Ar.... More »
Canadian Banks Make Push to Beef Up Utilities Expertise in the US + MORE Sep 25th
The Globe and Mail, Christina Pellegrini and Niall McGee, 24 September 2017
When word got out in July that Hydro One Ltd. had retained Moelis & Co. to advise on its $4.4-billion deal for Spokane, Wash.-based utility Avista Corp., the reaction from many on Bay Street was: Hydro One hired who?
T.... More »
Should you consider using joint accounts to avoid probate? Apr 17th
Q. My mother is a widow and I am an only child (single, never married, with one child of my own). Now that she is 83, she thinks she should put my name on all her bank accounts and investments so if she becomes unable, I would have control as joint account holder to pay any bills that come up. My na.... More »
Where to open an RESP
– moneysense.ca
Emily Johnson-Belloto & William (Photograph by Richard Lam)Q: I’m planning on opening an RESP for my son William. Should I just open one at my bank? I’m not sure what distinguishes one bank’s offering from another’s.—Emily Johnson-Bellotto, Montreal
A: Your son is unlikely to thank you for this—either because he’s an infant and can’t form the words, or he’s a teen and can’t remember the words. So I say thank you Mom, on his behalf. Contributing to a Registered Education Saving Plan (RESP) is a brilliant investment, in large part because the government grant provides you with a guaranteed return of 20%. I would stick with your bank because it’s easier to see everything in one place and set up a monthly automatic transfer from your chequing account to your RESP. Besides, an RESP is just an account and the banks’ offerings don’t differ much. That said, the returns on investment products do differ, so pay careful attention to what you invest that money in. Low-cost mutual funds are a good bet, to minimize the impact of fees on your return…
Watchdog tweaks mortgage rules for insurers, banks
– theglobeandmail.com
One of the most notable changes is that the regulator is now spelling out criteria banks must meet to verify the income of borrowers
