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Deciding which accounts are best for you can help minimize your costs and maximize your savings.
Best GICs account in Canada

Best GIC Rates in Canada

The best GIC rates offer a safe, secure way to grow your money over a set term.

Best Short-Term GIC Rates in Canada for 2023

Use a short-term GIC to earn interest on your savings and keep a strategic distance between yourself and that hard-earned cash.

Best EQ Bank GIC Rates

EQ Bank’s GICs are no-frills, fee-free investment options with a high interest rate and an ultra-low minimum deposit.
Type of Best Chequing Accounts

Best Chequing Account Offers and Promotions in Canada

If you’re in the market for a new account with attractive promotions, compare chequing account offers to nab a lucrative perk.

Best Chequing Accounts in Canada for 2023

Choose the best chequing account for your everyday banking needs by comparing the fees, features and conveniences.

Best No-fee Chequing Accounts in Canada

Canada’s best no-fee bank accounts are free bank accounts that can help you save money, earn rewards and manage your day-to-day expenses.

NerdWallet Banking Reviews

Compare the pros, cons and perks of Canadian financial institutions.

The basics

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

What is a chequing account? A chequing account is what most people consider to be their main account for day-to-day banking. You will use this account to deposit your earnings, withdraw cash, pay bills or make debit card purchases. Because of all these transactions, chequing accounts are referred to as “transactional” accounts. There are different […]

What is a Savings Account? How Does it Work?

A savings account is a bank account that pays interest on the money you deposit. Savings accounts are essentially holding accounts; they are not meant to be day-to-day banking accounts. Financial institutions assume that you will keep money within the account for a while, so they reward you by paying interest on deposits. The more […]

A Guide to Common Canadian Bank Fees and Charges

Having a bank account makes it easier to save and spend your money, but in exchange for holding on to your hard-earned cash and facilitating those transactions, most banks charge fees. Bank fees can easily eat up hundreds of your hard-earned dollars each year. And banks can choose to increase those fees whenever they want, […]

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

Are you ready to open a bank account? Almost everyone can open a bank account at a Canadian bank or credit union, including non-residents living, working or going to school in Canada. It’s an easy process that can be done in person or online in just a few steps. Here’s what you need to know […]

How to Write a Cheque in 5 Steps

Writing a cheque is an easy, fill-in-the-blank process. Once you get the hang of it, it’s like riding a bike. But if you are filling out a cheque for the first time, you might feel most comfortable following these steps: Start with the date, which goes in a spot in the top right corner. Often, […]

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

When you have a job, the easiest way to get paid is usually via direct deposit. It’s a fast, convenient alternative to waiting for a paper cheque to arrive in the mail, and it requires no work on your end after the initial setup. When the money arrives in your bank account, you’ll be able […]

How to Get a Loan From the Bank

Loans are financial products that can allow you to make a large purchase and pay for it over time. Banks and credit unions are both popular places to get loans for a number of needs including personal loans, car loans and mortgages (home loans). Knowing what type of bank loan will meet your needs is […]
Your questions, answered

How Does CDIC Deposit Insurance Protect Your Money?

Have you ever wondered what happens to your money in the bank if the financial institution you keep it with fails? It’s a good question and a valid fear. After all, many of us might remember hearing stories about our grandparents stuffing money in sock drawers and under the mattress out of fear of trusting […]

What Is Compound Interest?

Compound interest is the holy grail of investing and, depending on the circumstances, can be much more lucrative than traditional simple interest. Here’s what you need to know. What is compound interest and how does it work? Compound interest allows you to earn interest on your original savings and the interest income accumulated on those […]

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

Banks charge non-sufficient funds fees, or NSF fees, when you attempt to spend more money than you have in your account. This may occur if a cheque you wrote is processed or a pre-authorized payment comes out of your account, and you don’t have the funds to cover the transaction. In response to the error, […]
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