How to go about securing the best return for your investment in Canada.
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How much credit card debt does the average Canadian have? Jun 21st
As the country re-opens after COVID-related restrictions, Canadians are faced with a worrying financial picture. Many have moved, others are looking to travel, and the cost of living is ballooning with unusual rates of inflation. Meanwhile, the Bank of Canada (BoC) rate hikes designed to curb these .... More »
RBC hikes dividend as fourth-quarter profit holds steady on interest-rate boost - The Globe and Mail Nov 30th
RBC hikes dividend as fourth-quarter profit holds steady on interest-rate boost The Globe and MailRBC reports $3.88B Q4 profit, raises quarterly dividend BNN BloombergNational Bank raises dividend but misses expectations Yahoo Canada FinanceScotiabank's fourth-quarte.... More »
Pierre Poilievre pitches accountability legislation targeting Mark Carney Apr 13th
The proposal would update the current accountability act and raise fines for ethics violations, require candidates to disclose where they have paid taxes over the last seven years and require new ministers to disclose their assets within 30 days..... More »
For Canadians living abroad, is it worth investing in foreign ETFs? Mar 28th
Ask MoneySense
I’m a Canadian citizen who moved from Europe 2 years ago. I have some savings in EUR and I’m considering investing in VWCE (around 50,000 EUR).
I’m assuming this will complicate my tax returns in Canada. Are the extra complications worth it? What would you recommend in this c.... More »
ETF strategies to help Canadian investors combat a weak loonie + MORE Jan 29th
While recent moves from the Bank of Canada and the U.S. Federal Reserve primarily influence borrowing costs, they’ve also contributed to a sharp divergence in currency exchange rates. Specifically, the Canadian dollar has depreciated significantly against the U.S. dollar. When interest rates .... 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…
