How to go about securing the best return for your investment in Canada.
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How to choose a financial advisor in Canada + MORE Apr 18th
Do you know what to look for when choosing a financial advisor? This person will be giving you advice on important things like insurance, money management and investing, so it’s worth taking the time to screen candidates carefully before you hire a financial advisor.
The terms “financial advi.... More »
Elon Musk sells Tesla shares worth $6.9 billion - CNBC Television Aug 10th
Elon Musk sells Tesla shares worth $6.9 billion CNBC TelevisionElon Musk sells nearly $7B US in Tesla shares ahead of Twitter fight CBC NewsMusk Sells $6.9 Billion of Tesla Stock Bloomberg Markets and FinanceMusk Sells Another $6.9 Billion of Tesla Ahead of Twitter T.... More »
Canada’s best store credit cards for 2023 + MORE Apr 6th
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The best store 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 low-interest credit cards in Canada for 2023 Nov 16th
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The best low-interest 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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What is a market-linked GIC? Nov 27th
If you’ve been checking out GICs lately, it’s likely because of the record gains from recent interest rate hikes. Interest rates for guaranteed investment certificates have steadily increased as the Bank of Canada (BoC) has raised its benchmark rate over the past year and a half. At some financi.... More »
Types & Benefits of Current Accounts
– investitwisely.com
A current account is a type of bank account used for deposit and financial management. You can open a personal current account or a business one to facilitate payments (direct debits, standing orders) while allowing other people, businesses, and organizations to make payments easily as well. A current account enables finance matters to work smoothly.Most businesses (or businessmen for that matter) open current accounts as they have a higher number of transactions with the bank, which includes deposits, withdrawals, as well as contra transactions. It is also referred to as a Demand Deposit Account.
A current account is typically opened through banks. Any amount can be deposited and withdrawn at any time with a current account without giving any notice. It’s also appropriate for making payments to creditors via cheques. Cheques from customers can be deposited in this account for collection.
Now here are the basic current account types and their general benefits.
Basic current account types
Regular…
