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?
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The best credit cards in Canada for 2024 + MORE Apr 3rd
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The best credit cards in Canada for 2024
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The close: TSX rises with energy stocks, banks Nov 25th
Tech leads S&P above 2,600; Amazon, other retail stocks gain
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Planning a Trip or Cruise? Best Travel Tips for More Money May 22nd
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Why some people in Quebec are cutting up their cash
– moneysense.ca
Martin Zibeau has about $100 worth of Canadian money in his wallet, except all of the bills have been cut in two. He can’t use any of the half-sized tender at big-box stores, nor can he deposit them in his bank account. And that’s exactly the point.
On the Gaspé Peninsula in eastern Quebec, a group of locals and small-business owners have begun to accept an alternative currency—one where $5, $10, $20, $50, even $100 bills, get cut in two, ostensibly reducing their value by half—as a means to promote the local economy.
Confused yet?
Here’s how it works, or, at least, how locals argue it’s supposed to: When someone buys clothes at a Wal-Mart, Zibeau explains, there’s no telling how much of that money will be reinvested in the community. But with stores and locals accepting the cut-up bills, a currency they’ve dubbed the “demi”—French for half—that money can only be spent locally. And because banks don’t accept half a $20 bill, the money would be reinvested right away and not pile up at home (perhaps out of fear that storeowners might just stop accepting the half-bills)…
On the Gaspé Peninsula in eastern Quebec, a group of locals and small-business owners have begun to accept an alternative currency—one where $5, $10, $20, $50, even $100 bills, get cut in two, ostensibly reducing their value by half—as a means to promote the local economy.
Confused yet?
Here’s how it works, or, at least, how locals argue it’s supposed to: When someone buys clothes at a Wal-Mart, Zibeau explains, there’s no telling how much of that money will be reinvested in the community. But with stores and locals accepting the cut-up bills, a currency they’ve dubbed the “demi”—French for half—that money can only be spent locally. And because banks don’t accept half a $20 bill, the money would be reinvested right away and not pile up at home (perhaps out of fear that storeowners might just stop accepting the half-bills)…
Back-to-School Spending Struggles
– ratesupermarket.ca
We’ve all heard the tongue-in-cheek jingle: back-to-school is the “most wonderful time of the year”. But for many Canadian families, it’s a spending season that rivals Christmas. This year, rising consumer prices and a freshly-minted recession could send many scrambling for credit, just to get back to the classroom – a challenge facing parents and post-secondary students alike.
Read on for the full story.
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Read Penelope’s Blog | Are Canadian Students in Debt Denial?
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