What are Credit Unions?Credit Unions are financial institutions that provide many of the same products and services as banks. This includes checking and savings accounts, credit cards, mortgages, lines of credit and much more. But there are several important differences between credit unions and banks in Canada, including but not limited to the following:Credit Union Customers Are Owners – this is perhaps the most important distinguishing aspect of a credit union compared with a bank. For most of the banks in Canada, in particular the big 5 banks, the shareholders of the banks are the owners and therefore the banks…
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Introducing the TD US Credit CardTD Bank is not only one of the largest banks in Canada but also one of the largest banks in the United States. This is especially relevant when it comes to credit cards that you can use in both Canada and the United States without incurring charges. The TD US Credit Card that offers this functionality is the TD US Dollar Visa Card. This credit card is specifically designed for consumers that expect to use their credit card for US Dollar transactions. With the TD US Dollar Visa Card you can make purchases in US…
Introducing the Simplii Credit Card Simplii Financial is an online-only bank that was formerly a subsidiary of PC Financial before being transferred to CIBC, one of the largest banks in Canada. Initially the bank was focused on providing no-fee daily banking services and claimed to be the first direct banking brand in Canada to offer unlimited free Interac e-Transfers to its customers. Simplii Financial followed up its bank account offering with the launch of the Simplii Credit Card in December 2020. The Simplii Credit Card is a cash back credit card with excellent rewards for cardholders and importantly has no…
Overview of Fifth Third Bank CanadaFifth Third Bank is one of the largest banks in the United States, with assets of $211 billion (US Dollars) as of March 31, 2022. The bank is also one of the larger foreign banks in Canada and has maintained a presence in the country since 2005. The bank’s Canadian operation mainly focuses on serving its U.S. clients with local expertise and for potential cross border transactions. Fifth Third Bank Canada is part of the banks International Corporate Banking division, which primarily serves the bank’s corporate clients (as opposed to consumer clients).Fifth Third Bank does…
CIBC Toronto BranchesCIBC is one of the largest banks in Canada, and currently has 52 branches in Toronto. The bank’s branches are generally open from 9:30am to 5:00pm Monday to Friday. Select branches are open on Saturday from 9:30am to 4:00pm. Below is a listing of all the bank’s branches in Toronto with branch address and hours of operation information.Yonge And Queen Banking CentreBranch Address: 1 Queen Street East Toronto, ON M5C2W5Branch Hours:Monday: 9:30 AM – 4:00 PMTuesday: 9:30 AM – 4:00 PMWednesday: 9:30 AM – 4:00 PMThursday: 9:30 AM – 4:00 PMFriday: 9:30 AM – 4:00 PMSaturday: ClosedSunday: ClosedCommerce…
Scotiabank Branches Toronto Scotiabank is one of the leading banks in Canada, and currently has 20 branches in Toronto. The bank’s branches are generally open from 9:30am to 5:00pm Monday to Friday. Select branches are open on Saturday from 9:30am to 3:00pm or 4:00pm. Below is a listing of all the bank’s branches in Toronto with branch address and hours of operation information. 392 Bay Street Branch Branch Address: 392 BAY STREET, Toronto, Ontario M5H 3K5, CANADA Branch Hours: Monday: 9:30 AM – 4:00 PM Tuesday: 9:30 AM – 4:00 PM Wednesday: 9:30 AM – 4:00 PM Thursday: 9:30 AM…
RBC Branches Toronto – Complete Listing RBC is one of the largest banks in Canada and unsurprisingly has one of the largest branch networks in the country. The are currently 43 RBC branches in Toronto and the majority are open Monday to Friday from 9:30am to 5:00pm. Select RBC branches in Toronto are open on Saturday from 9:00am till 4:00pm. The below details address and branch hours for each of the RBC branches in the city. Dundas & Bay Branch Branch Address: 101 Dundas St W Toronto, ON M5G 1C4 Branch Hours: Monday: 9:30 AM – 5:00 PM Tuesday: 9:30…
Overview of the Tangerine Line of CreditThe Tangerine Line of Credit is offered by Tangerine, which is one of the non-traditional banks in Canada and a challenger to the big 5 banks that dominate the market. While most consumers are familiar with line of credit products, most are unfamiliar with why companies like Tangerine offer them in the first place, and how best to decide whether getting a line of credit is a smart financial decision. In this article, we cover the essentials of lines of credit, provide an overview of the Tangerine Line of Credit products and provide some…
Overview of the TD Student Chequing Account This chequing account is designed for consumers that are either under the age of 23 or are enrolled full-time in a program at a post-secondary institution. The features of the TD Student Chequing Account demonstrates the bank’s focus on providing a low cost yet flexible account for people that are not yet employed full-time. The TD Student Chequing Account has no monthly maintenance fee, has unlimited transactions that are permitted each month and has no minimum balance requirements. In addition, TD Bank is currently offering a promotion where new account holders can earn…
Overview of the TD Minimum Chequing AccountThe TD Minimum Chequing Account as the name indicates has the bare minimum of chequing account features and is among the lowest cost chequing accounts offered by banks in Canada. It is ideal for customers that are looking to pay the lowest possible monthly maintenance fee and do not plan to use their chequing accounts for many transactions each month. The account has a $3.95 monthly maintenance fee which is not avoidable (regardless of the account balance) unless you are a senior (age 60 or older) or a beneficiary of a Registered Disability Savings…
Overview of the TD Every Day Chequing AccountThe TD Every Day Chequing Account is ideal for customers that are looking for low monthly maintenance fees and that don’t expect to use their chequing accounts for many transactions each month. While the account has a $10.95 monthly maintenance fee, this fee is waived for account holders that maintain a daily balance of $3,000 or more. With the TD Every Day Chequing Account you are allowed to make 25 transactions each month. Transactions include withdrawals, cheques, bill payments and purchases made using your debit card. For each transaction beyond the 25 monthly…
Overview of ICICI Bank CanadaThe Industrial Credit and Investment Corporation of India (ICICI Bank) is one of the largest banks in India and as of December 2021 had over $200 billion of assets. ICICI Bank Canada is the bank’s wholly-owned subsidiary and conducts business across Canada. ICICI Bank Canada was established in 2003 and is a full service bank that provides financial products and services to Canadian consumers as well as commercial entities. According to the bank’s filings ICICI Bank Canada had $6 billion (CAD) of assets as of the end of 2021 of which $3.6 billion were residential mortgages,…
Overview of Bank of China CanadaBank of China Canada is the Canadian subsidiary of Bank of China Limited. The bank has been operating in Canada since 1992, is a Schedule II bank, and is one of many foreign banks in Canada. The bank is focused on promoting China-Canada business and economic relations as well as promoting economic development in Canada through its business activities. Bank of China Canada opened its first branch in Toronto’s Chinatown in 1994 and currently has 8 branches and a head office in Canada. The bank offers both corporate banking and personal banking products and services…
HSBC World Elite Mastercard Bottom Line: a No Brainer For Most This credit card offers great value for eligible consumers, especially if they travel and have relatively high levels of monthly purchases. In particular, the card currently offers $649 in attainable value which covers more than 4 years worth of the annual fee. Beyond this promotional period cardholders get a $100 recurring travel benefit which subsidizes the annual fee after the promotional period. When combined with the potential to get $1,500 in redemptions each year for travel spending, this credit card more than pays for itself in terms of its…
Overview of HSBC Canada HSBC Bank Canada is the Canadian subsidiary of HSBC Holdings, which is one of the largest banks in the world with over $3 trillion of assets and $1 trillion of net loans (both in US Dollars). It is also one of the largest foreign banks in Canada. HSBC has operated in Canada for 40 years and offers a full suite of banking services to Canadians including several chequing and savings account options, credit cards and borrowing products. Currently the bank has 133 branches across Canada and a network of 3,500 ATMs in the country. In the…