There are lots of different institutions that you can do your banking within Canada. Among the largest is RBC, or the Royal Bank of Canada. The Royal Bank offers two different types of debit cards; Client Cards and Visa Debit Cards. Let’s talk a little bit more about the differences between the two, focusing on …
The Canadian financial and payment culture is rapidly tilting towards an entirely cashless society with the gradual fading of cash transactions. Digital and mobile payment technology have made transactions fast, convenient, and effortless, such that Canadian consumers can now make accelerated transactions without carrying their physical wallets around. The primary concern of some skeptic Canadian …
Given the digitalization of almost every aspect of life, carrying out day-to-day activities comes with ease. You can achieve tons of things using the internet, and online payment is one of them. You can use several channels to make payments online. These channels are swift, secured, and safe. This article will be reviewing Apple Pay …
The introduction of the tax-free savings account (TFSA) in 2009 was one of the most powerful contributions to personal saving and wealth building since the RRSP was created in 1957. This type of account gives those who utilize it not only flexible options to save cash but also tax-incentivized investment options throughout the life of …
Banks in Canada provide both certified cheques and bank drafts. Although they have a similar mode of deposition, they are issued differently. It is vital to be familiar with both banking terms because they might be needed for some transactions. Both bank drafts and certified checks are utilized for high transfers, and their operations are …
There is a surge in demand for electronic payments and cashless commerce due to different factors. Currently, the primary factor is the Pandemic, as physical interactions have been limited. The rising acceptance of contactless payment has residents reconsidering their payment preferences. Customers can pay for products and services on the website via online payments. This …
Have you ever heard of a financial service company established and poised to provide specialized services to a particular community or group in a country? If you haven’t, here’s one. Wealth One Bank of Canada was established as a financial institution to offer banking and other financial services to Chinese-Canadians. By default, the bank employs Chinese-descent …
Vancity Community Investment Bank is one of Canada’s federally regulated financial institutions focused on providing community-driven opportunities. The bank claims to be Canada’s first value-oriented bank and the only Canadian bank with a particular focus on partnerships with organizations that drive social, economic, and environmental change. Vancity Community Investment Bank (VCIB) is an offshoot of …
Bank draft and Money Order are common terms in Canadian Banking. But what really do they mean and how does it work? How are they different from each other? In this piece, we analyze these terms and compare them. What is a Bank Draft? A bank draft is A payment made on behalf of a …
You’re in another country. You go to take money out of the ATM but oh no! – insufficient funds. What now? How can you transfer money to yourself when you’re not even in Canada? Well, here’s the good news. You can transfer money to yourself even if you’re not in Canada, and it’s easy and …
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