Time to come clean: it takes me a lot of time to write a blog post. Researching, writing, and browsing about absolutely unrelated topics consume my time.
But it has a bright side: another blog post. (With luck, I could probably write it in less time. There’s the nagging voice again: it’s about habit not fate.)
When I was researching on how to max out TFSA with high rates, I also have to search the Canadian bank rates. Some of the links were elusive, if not, the account types are often too many to choose from.
To make use of the time I lost, I created the list of banks for personal use in comparing rates. It might be an odd list to spend time with but I hope you can make a good use of my annoyance-turned-discovery.
Click the links of the following Canadian banks and figure out if it’s time to move on: reap higher return and stop paying fees:
The “Big Five” Banks
- Bank of Montreal (BMO)
- Bank of Nova Scotia (Scotiabank)
- Canadian Imperial Bank of Commerce (CIBC)
- Royal Bank of Canada (RBC)
- Toronto-Dominion Bank (TD)
Other Domestic Banks:
Wondering why such a short list, well, I only chose the banks that people are usually familiar with, so if you can’t find your favorite bank or would want to rearrange the order don’t worry about it.
I’ll update this post in the future and still stick to “alphabetical and definitely not popularity” order.
Can I end this post with trivia? Banks in Canada have different classifications namely Section I, II, and III and more; find out the rest on Canadian Banker’s Association.
When was the last time you checked the rates of your favorite bank? How long did it take you to search before you lose enthusiasm?
Share your online banking experience. (That sounds like a commercial.)
Updated: January 3, 2015