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Banking

Deciding which accounts are best for you can help minimize your costs and maximize your savings.
The basics

What is a Chequing Account? How Do I Use One?

A chequing account is a bank account for everyday expenses, day-to-day transactions, withdrawals and deposits. They are “transactional” accounts.

What is a Savings Account? How Does it Work?

A savings account is a bank account that lets you store your money securely while typically earning interest. They are best for short-term financial goals.

A Guide to Common Canadian Bank Fees and Charges

Common things that banks charge fees for include transaction fees, insufficient funds and overdrafts, wire payments, and out-of-network ATM use.

Know the difference

Can’t decide between a Tax-Free Savings Account (TFSA) and a Registered Retirement Savings Plan (RRSP)?

Let us guide you

How to Open a Bank Account Online or in Person

You can open an account at a Canadian bank or credit union in person or online. You need to be aged 17 or older and have two forms of identification.

How to Write a Cheque in 5 Steps

Learn about how to write a cheque, how to use cheques, and alternatives to cheques such as online payments, credit cards, direct deposit and more.

How Direct Deposit Works and How to Set It Up in Canada

Getting paid by direct deposit is fast and easy. It’s a secure way to get your paycheque, tax refund, government benefits, and employment insurance.

How to Get a Loan From the Bank

The steps and qualification requirements to borrow money from a bank will vary depending on your financial profile and the type of loan you want.
Your questions, answered

How Does CDIC Deposit Insurance Protect Your Money?

When member financial institutions fail, the Canada Deposit Insurance Corporation (CDIC) covers up to $100,000 per account in the form of free insurance.

What Is Compound Interest?

Compound interest makes your money grow faster than simple interest. It is the interest earned on money that has already earned interest.

What Is A Non-Sufficient Funds (NSF) Fee?

A non-sufficient fund (NSF) fee is charged when your account becomes overdrawn. Canada’s Big Five banks typically charge between $45 to $48.
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