Thinking of buying a home in the next few years? One way to build up your down payment is through investing. Here’s now this process compares to putting your savings into a TFSA or HISA.
Do you trust your bank? A recent survey shows Canadians have had enough of hidden or confusing bank fees – and are losing faith in their financial institutions as a result. Learn more about how to resolve conflicts with your bank – and protect your finances – if you’re unhappy with their services.
Back in prehistoric times (i.e. before the advent of online banking), it made sense to do all your banking with one financial institution. After all, if everyone from the friendly teller to the branch manager knew you on a first-name basis, odds are you’d be entitled to a few perks. But in today’s world does it make sense to have all your financial eggs in one basket? Or should you multi-bank?
Now you’d think that closing an account would be a simple as, well, closing an account. I thought so too, but it’s not. To find out how to close a personal bank account and what happens if you leave it inactive for too long, I contacted Canada’s top 5 banks: RBC, CIBC, TD Canada Trust, BMO and Scotiabank. Here’s what I found out: