Banking
Are you looking for a secure way to send money? If so, you might want to consider a money order. No bank account? No problem! You can still send and receive money. If you’re sending someone money by traditional mail, a money order is one of your best options. They are a secure payment that […]
If you’re considering switching banks or opening a new account, there are several Canadian banks to choose from. One factor that will likely influence your decision, whether you realize it or not, is a bank’s reputation. In this article, we’ll list the 11 most reputable banks in Canada, according to 2023 consumer data from the […]
Are you curious about the latest developments in the Canadian financial world? Look no further! Open banking is quickly becoming a hot topic in Canada, and it’s important to understand what it is, how it works, and what it means for you. In this article, we’ll take a deep dive into everything you need to […]
No one is immune to the possibility of a bank or credit union failure, no matter how unlikely it may seem. That’s where Canada Deposit Insurance Corporation (CDIC) comes in because the risk of a bank run is low but never zero. Force majeure or not, the CDIC protects your money by providing deposit insurance […]
Anyone who follows finance, and even those who don’t, have probably heard about the March 2023 Silicon Valley Bank (SVB) bank run. The failure of SVB marks the largest U.S. bank failure since 2008. The alarming news has left many of us wondering if our own banking institutions are at risk of a Canadian bank […]
When someone sends money abroad, the international transfer often occurs through a messaging system known as the Society for Worldwide Interbank Financial Telecommunications (SWIFT). This system consists of a messaging network of banks and other financial institutions that send and receive information necessary to perform a financial transfer. This article provides a complete guide to […]
Should you open a Simplii High Interest Savings Account? It’s an unfortunate truth, your money loses value over time; that’s inflation for you. Everyone should have an account for emergencies. Unfortunately, the rates on traditional savings accounts leave a lot to be desired. A high interest savings account (HISA) can help make the most of […]
The current prime rate in Canada is 6.7%, as of January 2023. Sometimes called the prime lending rate, the prime rate is the annual interest rate financial institutions charge their most creditworthy customers. For clarity, ”prime” means ”best”. If you’ve ever applied for a mortgage, line of credit, or another type of loan, you’re exposed […]
Vous rêvez de voir fructifier l’argent de votre compte d’épargne grâce à un rendement plus élevé? Un compte d’épargne à intérêts élevés est la solution! Les banques canadiennes ainsi que diverses institutions financières vous écoutent! Elles mettent à votre disposition un éventail complet de comptes d’épargne à intérêts élevés. Les choix sont partout au Canada. […]
We’ve reached the end of the road in our Banknotes of Canada series. If you thought we were done with the Canadian 100 dollar bill, then we have a list of five things you don’t know about the Canadian 1000 Dollar bill. The fact that Canada even had a 1000 bill is something noteworthy for […]
Canadian banknotes are constantly changing, attempting to craft a national identity and reflect an ever-changing society, as this article and the rest of our Canadian Banknote Series attest. With the Canadian 5 and 10 dollar bills undergoing vertical transformations and design changes, it seems likely that the Canadian 100 dollar bill will undergo a similar […]
The Federal Deposit Insurance Corporation (FDIC) is a US-based agency that offers deposit insurance to people that deposit their savings with banks or other financial institutions based in the US – known as “depositary institutions”. The FDIC does not cover Canadian depository institutions. In Canada, we have a different body called the Canada Deposit Insurance […]
