Canadian Banks vs Credit Unions

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Canadian Banks vs Credit Unions

Are you currently banking with one of Canada’s “Big 5”? If so, there’s a strong chance that you’ve wondered about better alternatives. If you’ve already looked into switching banks, you probably noticed that none of them are particularly cheap – and they all seem to be constantly raising their fees. This is exactly why more and more Canadians are looking for alternative banking solutions. One of the most popular options is to use a credit … Read More

Scotiabank Business Bank Accounts: Everything you Need to Know

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Scotiabank Business Bank Accounts

Opening a business bank account is one of the first things you should do when starting a business. Even if you’re running the smallest of businesses, it’s important to have a separate business bank account. This will help keep your business and personal expenses/income separate. Many small business and sole proprietorship companies shy away from opening a business bank account in order to avoid paying extra bank fees. In addition to this,having a business bank … Read More

Why You Should Never Exchange Currency With Your Bank

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The United Nations currently recognizes 180 currencies worldwide. This means that if you plan on travelling, chances are you’re going to need to exchange your currency. Put simply, Foreign Exchange (FX) is the buying or selling of one currency for another, but sometimes it can get a little confusing. It’s very important to have an understanding of FX rates and how they work. If you don’t, it’s easier for you to get ripped off when … Read More

Everything You Need To Know About CIBC US Dollar Accounts

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Everything You Need To Know About CIBC US Dollar Accounts

Many Canadian individuals and businesses deal with the US Dollar (USD) on a regular basis. Any Canadian who frequently deals with USD knows that it can be a muddy experience. Most banks charge a high markup percentage when converting currency, in order to make a profit from your transaction. On top of that, when using your credit card to pay in a different currency, many banks charge you around 2.5% extra. Worse still, if you … Read More

A Guide To US Dollar Accounts With National Bank Of Canada

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A Guide To US Dollar Accounts With National Bank Of Canada

Canada’s biggest trading partner is the United States, so, naturally, a high number of Canadian companies, freelancers and individuals have strong ties with the US. There is an ever-growing number of Canadians frequently travelling to or working in the United States. As a result, there’s a growing number of Canadians facing one big issue – currency conversion. It can be difficult for Canadians to find the best way of converting US Dollars (USD) into Canadian … Read More

How You’re Losing Money With CIBC Global Money Transfer

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How You're Losing Money With CIBC Global Money Transfer

The necessity for fast, low cost international transfers and payments is increasing all the time. Continued advances in internet technology have led to an increase in businesses having customers overseas and farming out jobs to freelancers in other countries. It also means that the workforce is becoming globalised, resulting in more and more people working abroad and sending remittance payments home to family. An essential advancement that makes all this possible is the ability for … Read More