What do Canadians want from their banks? Convenience, transparency, and a lack of fees top consumer wishlists – but it doesn’t appear all lenders are listening. Account fees are slated to rise at the big 5 FIs over the coming weeks, meaning you’ll pay more to access your cash.
Meanwhile, confusion persists for credit card customers – when is it a good idea to kick your plastic to the curb? This week, we take on these key consumer issues. Read on for the full story.
Higher Banking Fees Are Coming From Canada’s Big 5
Bad news for Canadian banking consumers – each of the “Big 5” (TD, BMO, Scotiabank, RBC and CIBC) have implemented higher fees for accounts, certain transaction types and services. Will your bank account be affected? Read on for the full story, and what you should do if your banking products change.
Read Penelope’s Blog | Higher Banking Fees Coming From Canada’s Big 5
Is Closing a Credit Card Bad For Your Credit Score?
The consequences of cancelling a credit card are among the biggest personal finance myths. Will cutting up that plastic mean a ding to your credit score? Here’s what you need to know if you’re considering shutting down your credit card – and what it could mean for your borrowing history.
Read Andrew’s Blog | Is Closing a Credit Card Bad For Your Credit Score?
Apple Pay to Come to Canada
Apple Pay, the tech giant’s mobile payment app, has been taking U.S. retailers and shoppers by storm – but Canadian consumers have watched from the sidelines. Now, it appears Apple Pay could be made available north of the border – if it can get past Canada’s big banks. Get the full story.
Read Allan’s Blog | Apple Pay to Come to Canada
3 Mortgage Marketing Tactics You Should Be Aware Of
It has been a truly hot spring housing season, and lenders are using new mortgage marketing tactics as a result. Here are three we’ve seen so far – and whether they’re truly as great as they seem.
Read Rubina’s Blog | 3 Mortgage Marketing Tactics You Should Be Aware Of
What Are Bank of Canada Rates?
What are Bank of Canada Rates? Here’s what you need to know about the Overnight Lending rate, Prime rate and Qualifying rate.
Read Allan’s Blog | What Are Bank of Canada Rates?
How European Bonds Impact Canadian Mortgage Rates
European bond pricing plays a big role in the affordability of Canadian mortgage rates. As the ECB utilizes more QE measures, Canadian bonds and rates are pushed even lower. Read on to learn more.
Read Rubina’s Blog | How European Bonds Impact Canadian Mortgage Rates
This week, we asked our Twitter followers:
Do you own a second vacation home, timeshare, or cottage?
Want your chance to win? Answer this week’s question:
Would you switched banks if they hiked your account fees?