RateSupermarket.ca Empowers Canadian Consumers with New Bank Account and Online Discount Brokerage Comparisons
New Tools Give Canadians a 360 Degree View of Options
Toronto, ON – May 15, 2012 – While most people don’t rely on interest from bank accounts to secure their financial futures, everyone needs one to be able to access cash for day-to-day expenses. Though bank accounts are not typically considered to be financial growth vehicles, there is no reason that consumers shouldn’t maximize earnings wherever possible.
As part of their ongoing mission to provide Canadian consumers with a 360 Degree view of all of their financial options, Canada’s largest impartial rate comparison site, RateSupermarket.ca, has added a slate of bank account and investment comparisons to complement its existing mortgage, credit card, and insurance services.
“Keeping your money in a savings account that isn’t offering you the highest interest rate is practically the same as giving money away,” said Kelvin Mangaroo, President of RateSupermarket.ca. “And if you’re also paying over the top for fees on your chequing account you could be missing out on hundreds of dollars over time.”
The new comparisons include a variety of banking institutions across many account types such as: chequing, seniors, TFSAs, children’s, students and savings accounts. Specifically, the chequing account comparison engine allows visitors to compare monthly fees, transaction fees and online banking features, along with a number of additional account details. Meanwhile, the savings accounts and TFSA search engines help consumers find the best interest rate, comparing differences in total savings over a three-year period; information on monthly fees, minimum balances, transaction restrictions and fees, and how interest is paid out is also included.
In addition to the new banking comparison tools, RateSupermarket.ca has added an extremely thorough engine to compare online discount brokerages. The site looks at factors such as trade volumes and account value, and registered vs. non-registered, then compares options against more than 30 different criteria – from minimum to maximum trade volumes to phone and online transaction fees for stocks, bonds, mutual funds, gold and options. The engine also looks at mobile options, margins available and foreign exchange capability.
“Our latest product comparisons are another step towards RateSupermarket.ca providing consumers with all the information they need to make more informed decisions about their money.” says Mangaroo.
About RateSupermarket.ca (www.ratesupermarket.ca)
RateSupermarket.ca is the largest impartial rate comparison service for personal finance products in Canada. Founded in May of 2008, their easy to use comparison engine provides much needed transparency to the Canadian financial market and allows visitors to quickly find the best mortgage rates, savings rates and insurance quotes. Their Mortgage Tool App for the iPhone also allows house hunters to compare mortgage rates using their Smartphone. Over 2M Canadians have turned to RateSupermarket.ca to save money on their mortgage, insurance, credit cards and GICs.