Personal Finance - My Rate Compass

Published by Mohamed Konate | Updated Aug 26, 2023

Bank draft and money order: What’s the difference

Are you trying to figure out the difference between bank draft and money order? Do you want to know which one is right for your particular situation? Well, you have come to the right place. In this article, we will take a look at bank drafts and money orders – their similarities, differences and when it’s… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Costco Return Policy: What you need to know

Costco return policy Costco’s return policy is one of the most generous in the retail industry. It allows customers to return almost any item purchased from Costco within 90 days for a full refund, with some exceptions noted below. Whether you need to return an item due to dissatisfaction or because it was… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How does a money order work in Canada?

How does a money order work in Canada? A money order in Canada is a financial document that enables the bearer to receive a specified amount of money from a payer. It is very similar to a cheque, but unlike a cheque, a money order does not require a bank account. Money orders are… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How Many Loonies Are in a Roll in Canada?

For those who are not Canadians and don’t know, a loonie is a Canadian one dollar coin. They’re called loonies because there’s a loon (a type of bird) on one side of the coin. So how many loonies are in a roll in Canada? Learn more in this article. How many loonies are in… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How Many Quarters Are in a Roll in Canada?

How Many Quarters Are in a Roll in Canada? Have you ever wondered how many quarters are in a roll in Canada? Well, wonder no more! We did a little research and found out that there are 40 quarters in a roll in Canada. So next time you’re at the store and need to… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How Many Toonies are in a Roll in Canada?

How Many Toonies are in a Roll in Canada? We all know that toonies are Canada’s two-dollar coins, but did you know that there are actually 40 toonies in a roll? That means that if you have a full roll of toonies, you’re carrying around $80 worth of Canadian currency! So the next time… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How to Get More Money Back from your Tax Return

Are you looking for ways to get more money back from your tax return? If so, you’re in luck! There are a few simple things you can do to ensure that you get the most possible money back from your taxes. Keep reading to learn more. Know what deductions you can take before… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Is the costco executive membership worth it?

Have you ever wondered if the Costco Executive Membership is worth it? We did some research to find out. Here’s what we found out: The Costco Executive Membership comes with a 2% annual reward (up to $1,000) on qualifying purchases, exclusive coupons, and access to special merchandise. Plus, you’ll get free technical support for… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Statutory Holidays in Canada 2023

Do you know which statutory holidays are coming up in Canada in 2023? If you’re planning a trip or just want to know when you can next enjoy a long weekend, read on to find out! We’ll also tell you a bit about the history of each holiday and why it’s celebrated. So whether you’re… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

What are the leading causes of death in Canada?

In Canada, the leading causes of death vary by province and territory. However, some common causes of death include cancer, heart disease, stroke, and respiratory disease. Understanding the leading causes of death in Canada can help us better prevent and treat these conditions. Heart disease is the leading cause of death in Canada, accounting… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

What is a Bank Transit Number?

A bank transit number is a five-digit code which identifies the financial institution in Canada where you have opened your bank account. This number is used to process payments, deposits and other transactions for your account. It’s important to understand what a bank transit number is and how it works in order to properly… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

What is a Routing Number in Canada?

If you’ve ever wondered what a routing number is and why it’s used in Canada, you’re not alone. In this blog post, we’ll explore everything you need to know about routing numbers in Canada, from what they are to how they’re used. We’ll also discuss some of the most common questions people have about routing… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

What Is a T4 Slip in Canada?

In Canada, a T4 slip is an official document that your employer completes and sends to the Canada Revenue Agency (CRA) at the end of each year. The T4 summarizes the total amount of money you earned from your job during the year, as well as any deductions that were made from your paycheque. If… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

What is best way to exchange currency before a trip?

Are you planning a trip abroad and wondering what the best way to exchange currency is? If so, you’re not alone. In this blog post, we’ll discuss some of the different options for exchanging currency and offer our advice on which one is the best. Keep reading to learn more! Research the currency of… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Guide to Interac e-Transfer Limits

Interac e-Transfer enables Canadians to send and receive the money within minutes. These transactions are safe since senders will add security questions and receivers will need to provide the correct answers. Therefore, unintended recipients cannot access those funds.

Published by Content Creator | Updated Aug 26, 2023

A Detailed Review Of The Wealthsimple Tax

What is Wealthsimple Tax? Does it make tax filing easier? Can everyone use this tax return software? What are the benefits? Is there any downside? There might be so many questions in your mind about Wealthsimple Tax, and you need answers. We will provide those so you can file your taxes with confidence.

Published by Mohamed Konate | Updated Aug 26, 2023

What Is The Average Savings Of A Canadian By Age

The average savings by age in Canada helps determine how much people need to save at their current age. Although it should be the best approach toward financial stability, it is not the ultimate way to create savings in the long run.

Published by Content Creator | Updated Aug 26, 2023

Ontario G2 License Restrictions You Need to Know

Do you have a full G driver’s license? Would you like to know about the Ontario G2 license restrictions to avoid any penalty and license suspension? If so, read on.

Published by Mohamed Konate | Updated Aug 26, 2023

OAS Payment Dates 2023: What You Need To Know

OAS Payment Dates 2023 Many Canadians struggle with finances, whether it’s debt, budgeting, or taxes. As a senior citizen, you have more financial challenges to consider as you approach retirement. Some financial challenges for seniors include paying off debt, reverse mortgages, confusing bank fees, identity theft, healthcare costs, living with lower income and more. Debt… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Senior Discounts in Canada

It is a ordinary promotion for companies and organizations to offer senior discounts. While there is no standard discount or age to qualify, you may want to consider spending your money at one of the retailers that offer a discount for seniors. The age cutoff for senior discounts is often around 65 years of age… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Canada Recovery Benefit

Canada Recovery Benefit: How to apply for Canadian recovery benefits COVID-19 has hit the Canadian economy hard. Travel, tourism, and hospitality have been shut down on and off since March 15, 2020. Although these are the hardest hit industries, many companies have been affected by lockdowns and other effects of the pandemic indirectly. Hours and… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Ontario Trillium Benefit Dates 2023

The Ontario Trillium Benefit is refundable tax credit for low to moderate income residents of Ontario. It was created by the provincial government in 2011 and combines three previous credits: The Northern Ontario Energy Credit, the Ontario Energy and Property Tax Credit, and the Ontario Sales Tax Credit. If in 2022 you filed your taxes… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

VISA vs Mastercard: What’s the Difference?

Credit cards can be complicated. There are different types, with unique costs, requirements, rewards, benefits, sign up bonuses – and the list goes on. Internationally, the two most widely accepted credit cards are VISA and Mastercard. But, what is the difference between them? To start, both VISA and Mastercard are not actual credit cards or… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Canada Child Benefit Payment Dates 2023

The Canadian government is dedicated to helping families care for their children, especially during this tough economic time. Raising families can be a difficult and expensive task as is, but is even more challenging when you’re unemployed or don’t have access to resources, such as childcare. Canada has several support systems in place to help… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Costco Membership

With 105 locations across Canada, Costco is a bulk shoppers paradise. To shop there, you need a membership, which comes with a fee. Memberships have various levels, some of which have extra benefits. Deciding if a Costco membership is right for you depends on a few factors. Whether or not a location is near you… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

6 Steps to Take to Improve Your Credit Score

Navigating your credit score and trying to improve it can be a confusing and complicated process. Your credit score will influence the outcome of a car loan, credit card or mortgage application. Really anything to do with money and payments can be influenced by your credit score. This is why so many people try to… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Refresh Financial Review 2023

Refresh Financial Refresh Financial offers people with no credit history or poor credit scores the chance to improve their credit standing. Their loans do not provide you money upfront, and instead are designed to discourage building debt by securing savings you can use conveniently like credit without the worry. When you make payments into… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

MoneyGram Review:Everything You Need To Know

MoneyGram Review 2022 MoneyGram is the second-largest money transfer company in the world. They make it easy to send money overseas with several locations for pickups. You can also use the service for bank transfers. Here we look at the services they offer, how it works and whether it is a suitable service for… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

The Importance of an Emergency Fund

Have you ever heard the phrase, “save for a rainy day?” You probably heard it from a friend, parent or family member at some point in time. A rainy day is an unexpected event in the future that will likely impact your finances. For example, losing your job or an unforeseen sickness. An emergency fund… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Fairstone Loans Review 2023

Fairstone has been in business in Canada since 1923. They offer alternative lending solutions. Alternative meaning that, they are not a traditional bank, but rather a financial services company. They offer higher interest rates than banks, but lower than payday lenders. With over 240 branches and a wide range of retail and auto partners, Fairstone… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How to Cancel a Credit Card

Credit cards are one of the most common, convenient, and accessible forms of credit. As long as you have a decent credit score, you can access a credit card. In the case of individuals with poor credit, you can still access a secured credit card. Most credit cards have higher than average interest rates, normally… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

What is the Difference Between a Store Card and a Credit Card?

Have you ever been in your favourite store and someone approaches you, clipboard in hand asking if you’d like to apply for a store card? Or maybe you tried to pay for your purchase using a credit card and the cashier suggests applying for a store card? While you might think this is the… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Best Credit Cards for Emergencies in 2023

Facing financial emergencies when you don’t have the savings to cover your costs can find you scrambling to find credit in a pinch. When this happens it can be overwhelming determining which credit cards offer the best terms for your situation. While credit cards aren’t always the best option for financial emergencies, in some cases… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How to Write a Cheque in Canada : 7 Steps You Need To Know

A cheque is a type of legal, financial document. It is used to transfer funds from one entity to another. Cheque usage goes back to ancient Roman civilization, as many historians believe. The payment method has appeared in nearly all cultures, but the specifics vary from community to community. With that said, nearly every society… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

The Best Budgeting Apps and Personal Finance Apps 2023

One of the greatest things about being a part of the digital age is that there’s a technology solution to virtually every problem. Personal finance and budgeting is no exception. If you’re managing your finances in excel, or worse, with a pen and paper, it might be time to consider another solution. Not only will… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

The Best Personal Finance Blogs In 2023

One of the best ways to brush up on your personal finance skills is through self education. In the old days, this was challenging to do because self help resources weren’t readily available. However, in the digital age, we have nearly everything at our fingertips. There is a plethora of content out there dedicated… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Triangle Rewards Program Overview 2023

Canadian Tire Triangle Rewards Program In 2015, Canadian Tire launched the Triangle Rewards program. In addition to this program, there is the Canadian Tire Money rewards program which has been active since 1922. Many Canadians are familiar with this incentive because it features literal money tender. Physical Canadian Tire Money features a fictitious character named… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Best Personal Finance Books of 2023

Best Personal Finance Books You Should Read to Grow & Establish Wealth Personal finance is among the hottest topics of the 21st century. There are several reasons why personal finance knowledge is heavily sought after. For one, the economic playing field has changed drastically over the last 100 years. It is also more onerous on… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

HSBC Rewards Program: Everything You Need To Know

HSBC is among the world’s biggest banking and financial services institutions. The organization offers numerous services including personal banking, commercial banking and global banking. It is one of the best financial institutions for international banking needs. Their network spans 64 countries including regions within Europe, Asia, Africa, North America, the Middle East and Latin… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Amazon Prime Canada Review 2023

What is Amazon Prime Canada? Amazon Prime Canada is a subscription-based service that allows its subscribers access to quick shipping, streaming video and music content, exclusive member-only deals, and access to a free digital library. Amazon Prime was launched in America in 2005 but was not available to the Canadian Market until seven years later… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Best Places to Live in Canada in 2023

Where is the Best Places to Live in Canada? O, Canada! This northern country is one of the premier places to live in the world because of its contrasting populations, stunning terrains and the peaceful demeanour of its society. These may be obvious, but there are various reasons why residents are proud to be… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Student Loans Guide Canada 2023

Thinking about pursuing a postsecondary degree but wondering how to get the money to do so? Most people do not have the money to pay for their college experience upfront, which is where student loans come into play. A college degree is one of the most expensive things you will ever purchase, and it can… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

H&R Block Canada Review 2023

Throughout Canada, every individual is required to file an annual tax return and those who are working, whether for an employer or themselves, are required to pay taxes on their earnings. Additionally, those who own a business are required to pay taxes on employee wages and submit payroll information to the Canada Revenue Agency (CRA)… Continue reading

Published by Mohamed Konate | Updated Aug 27, 2023

Tangerine Bank review 2022: What you need to know

Founded in 1997 as ING Direct, Tangerine was one of the first direct banking institutions in Canada. It allows Canadians to bank virtually, without the need for visiting a branch. This alternative to traditional banking results in reduced account fees thanks to Tangerine’s lack of overhead costs. Additionally, the lack of overhead costs results in… Continue reading

Published by Mohamed Konate | Updated Jan 07, 2023

ICICI Bank Canada Review: Everything you need to know

ICICI Bank Canada is a subsidiary of ICICI Bank Limited which is headquartered in India. ICICI Bank Limited has operations across the world in countries such as the United Kingdom, Oman, South Africa, the USA, Hong Kong, Dubai, and more. ICICI Bank Canada is the subsidiary that operates within Canada and was launched in 2003.… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Best Banks in Canada in 2023: Everything you need to know

Looking for a new bank? Canadians are spoiled when it comes to banking options, but if you are looking at opening a new account you probably just feel overwhelmed. My Rate Compass has created an easy to follow guide to help you understand the key differences between banking institutions and a guide to the best… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Vancity Credit Union Review 2023

Vancity Credit Union Review Vancouver City Savings Credit Union, known to most as the Vancity Credit Union, is the largest-sized credit union in British Columbia and the greater Canada region. Currently, the credit union boasts over 534,866 members and manages over 26 billion assets for clients across the nation. Formed in 1946, the bank offers… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

PC MasterCard Canada Reviews 2023

PC MasterCard Canada: All you need to know President’s Choice Financial Mastercard Review The President’s Choice Financial MasterCard is a basic no-fee credit card that is ideal for families and individuals who frequent stores where President’s Choice products are sold, including Joe Fresh, Loblaws, Real Canadian Superstore, and more. Annual Fee: $0 Additional Card Fee:… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

President’s Choice Financial Mastercard Review 2023

The President’s Choice Financial MasterCard: All You Need to Know President’s Choice Financial Mastercard Review The President’s Choice Financial MasterCard is a basic no-fee credit card that is ideal for families and individuals who frequent stores where President’s Choice products are sold, including Joe Fresh, Loblaws, Real Canadian Superstore, and more. Annual Fee: $0 Additional… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

TD Expedia Travel

Expedia for TD: What You Need to Know When TD introduced the Expedia for TD program, travel enthusiasts across Canada couldn’t believe the amazing deals they were accessing! Today, Expedia for TD is known to be one of the greatest travel based credit card programs in Canada. Whether you’re already a part of Expedia… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

TD Rewards Expedia

Expedia for TD: What You Need to Know When TD introduced the Expedia for TD program, travel enthusiasts across Canada couldn’t believe the amazing deals they were accessing! Today, Expedia for TD is known to be one of the greatest travel based credit card programs in Canada. Whether you’re already a part of Expedia… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Does Expedia for TD Price Match?

Expedia for TD: What You Need to Know When TD introduced the Expedia for TD program, travel enthusiasts across Canada couldn’t believe the amazing deals they were accessing! Today, Expedia for TD is known to be one of the greatest travel based credit card programs in Canada. Whether you’re already a part of Expedia… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How does Expedia for TD work?

Expedia for TD: What You Need to Know When TD introduced the Expedia for TD program, travel enthusiasts across Canada couldn’t believe the amazing deals they were accessing! Today, Expedia for TD is known to be one of the greatest travel based credit card programs in Canada. Whether you’re already a part of Expedia for TD… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

GST Payment Dates 2023

If you landed on this page, you may have searched on Google for GST Payment dates 2023. My Rate Compass will save you time as we’ve outlined the important dates you should know.” GST Payment Dates 2023: GST/HST Credit Overview What is the goods and services tax/harmonized sales tax (GST/HST) credit? The goods and… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

TD Rewards Points Review

TD Rewards Points Overview: Everything you need to know Toronto Dominion bank, TD for short, is Canada’s second largest bank. Similarly, to other big Canadian banks, TD offers a comprehensive loyalty program to their customers, specifically their credit card users. Loyalty program members get the most bang for their buck when they use their… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Registered Education Savings Plans (RESPs) Guide

What You Need to Know About RESPs A Registered Education Savings Plan, RESP for short, is a registered account with the Canadian government that is designed to help parents save for their child’s future post-secondary education. As you’re probably aware, post-secondary education isn’t exactly the cheapest and the sooner you start investing, the better… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

GICs Explained

GICs Explained: Everything you need to know GICs, short for Guaranteed Investment Certificates, are a valuable investment because of their low risk and helpfulness when saving. GICs are easy to open, but once your money is locked in, you might not be able to access the funds until the end of the GICs term.… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Capital Gains Tax Canada Explained

Capital Gains Tax Canada: What you need to know A capital gain arises when the value of your investment on the market or selling price is greater than the original price you paid. Whenever you earn a capital gain it’s wonderful! However, the downside is you’re required to pay taxes on capital gains. You… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How to Save for a House

Here’s How to Save for a House Down Payment in Canada in 2023 In 2023, saving money for a house down payment has become even more difficult than before. If people needed to cut costs before the crisis, now they need to be even more stringent with their spending, plus they need a… Continue reading

Published by Mohamed Konate | Updated Jan 07, 2023

Scotia Rewards Points Program

Scotia Rewards Points Program Review Over our last couple of reviews, we’ve taken a break from reviewing all the different financial services offered by several of Canada’s leading banks and instead honed in on credit card loyalty programs designed to reward customers for using their bank-issued credit cards to make purchases on all… Continue reading

Published by Mohamed Konate | Updated Feb 09, 2022

CIBC Rewards Review 2022

CIBC Rewards Program review 2022: Everything you need to know The Canadian Imperial Bank of Commerce is the result of a 1961 merger between the Canadian Bank of Commerce and the Imperial Bank of Canada. The Canadian Bank of Commerce traces its roots all the way back to 1867, founded to compete against the… Continue reading

Published by Mohamed Konate | Updated Mar 18, 2023

SCENE Rewards Program Review 2023: Everything you need to know

SCENE Rewards Program Sticking with our transition to retail customer loyalty programs that began with our last review of Tim Hortons’ Tims Rewards program, today we’re going to explore the widely popular SCENE Rewards program offered by Cineplex in partnership with Scotiabank. For frequent movie-goers, it’s hard to beat the value offered by… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Tim Hortons Rewards

Tim Hortons Rewards Program Review 2022: Tim Rewards We have spent some time over our last reviews looking at the customer loyalty programs of several of Canada’s largest financial institutions. Structured in the form of credit card rewards programs, the bank loyalty programs that we’ve seen reward customers for using their bank credit… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

EQ Bank Review 2023

EQ Bank Review 2023: What you need to know We’ve spent out last couple of reviews looking at several different credit unions across Canada. We’ve explored the basics of those financial institutions, explained how they resemble and how they differ from traditional banks, and the services they offer. But today we’re going to shift… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

BMO Rewards Points Program

BMO Rewards Points review: How to get the most Out of Your BMO rewards Points The Bank of Montreal, more commonly known as BMO, is Canada’s oldest financial institution. Founded more than 200 years ago, BMO started out as a primarily commercial lenders intended to help business customers do business in and around Montreal.… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

WestJet Rewards

WestJet Rewards:How the WestJet Rewards Program Works WestJet is Canada’s second-largest air carrier, trailing only AirCanada in volume of passengers transported each year. WestJet began as a budget alternative to the major air carriers in 1996, providing service to just a few destinations in Western Canada (hence the name WestJet), but it quickly expanded… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Mogo Finance Review

Mogo Finance Review Mogo Finance Technology, a fintech company founded in Vancouver back in 2003, has been offering a wide range of financial services to Canadian customers. Over the years, they have helped millions of Canadian customers to gain access to the best identity fraud protection services, personal loans, mortgages, and even Prepaid VISA cards.… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Charge Card vs. Credit Card

Everything you need to Know about a Charge Card in 2021 In 2021, Canadians searching for new financial products will discover that they can choose two main types of cards: charge cards and credit cards. Both charge and credit cards allow users to gain instant access to money, compared to debit cards, such as… Continue reading

Published by Mohamed Konate | Updated Aug 27, 2023

Apple Credit Card

Apple Credit Card for Canadians -Full 2023 Review A growing number of Canadian residents are becoming Apple fans in 2023. What’s truly amazing is that they are not falling in love with this Silicon Valley giant due to their laptops or smartphones, but because of their innovative credit card. Since Apple launched its… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

RBC Rewards Program

How To Get the most of The RBC Rewards Program The Royal Bank of Canada, also known as RBC, is Canada’s largest commercial bank. RBC employs more than 85,000 people around the globe and serves over 16 million customers each year. RBC offers a full suite of personal and commercial financial services.… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

KOHO Prepaid Visa Review 2023

KOHO Visa Review You’ve probably seen the ads by now. The new kid on the block is poised to make for itself a great entry in the Canadian financial market, offering a whopping 1% cashback on all purchases. This new player has a new mission in mind, which is to enable all Canadians… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How to Save for a Car

How to Save Money for a car Buying the car of your dreams in 2023 might prove to be quite a daunting task. Even if you want to purchase a used car, you’ll still need quite a lot of money stored aside. On top of all, the lockdown has made many people lose… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Rakuten Canada Review (Previously ebates.ca)

Rakuten Canada review Rakuten (Ebates) Canada is an online cash back shopping portal for many retailers.Today, we’re going to explore the service offered by Rakuten Canada. So, keeping reading to learn all about how this service works, why it exists, and whether it’s a good idea to use it. What is Rakuten? Rakuten is… Continue reading

Published by Mohamed Konate | Updated Nov 19, 2021

Blueshore Financial review

Blueshore Financial credit union review Here at Myratecompass’s, we strive to provide our readers with a comprehensive look into as many financial institutions as we can. This includes traditional banks, credit unions, and investment firms, as well as their modern, online-only counterparts. We’ve looked at several online-only institutions recently, so today we’re stepping out… Continue reading

Published by Mohamed Konate | Updated Apr 18, 2022

Wealthsimple review 2022: Pricing,features,pros and cons

Wealthsimple review We’ve spent considerable time recently looking at banks and bank-like financial institutions, including credit unions and online-only banks. These consumer-facing institutions are designed primarily to give customers a place to store their money in a place that is safer and more convenient than simply stashing it under the mattress. Credit unions and… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Simplii Financial Review 2023

Simplii Financial Review:Online Only Bank Simplii Financial Quick Overview: Simplii Financial is an online bank that came to provide services to Canadians in the fall of 2017. Simplii Financial has joined other major players in the digital banking world, such as Tangerine, EQ Bank and Motive Financial. Some benefits noted of banking… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

TurboxTax Canada Review 2023

TurboTax Canada: An In-Depth Review The past few years have seen a significant increase in taxpayers filing their returns electronically. In 2018, over 88% of tax returns were submitted online, mostly using the EFILE and NETFILE methods. TurboTax Canada is currently one of the most preferred online tax software in Canada – for good… Continue reading

Published by Mohamed Konate | Updated Oct 13, 2021

Alterna Bank review

Alterna Bank review Today, we’re going to take a look at Alterna bank.Alterna Bank is a digital Canadian bank offering financial services such as savings, chequing, investments, and mortgages. There is no question that the internet has fundamentally changed the way we live, work, entertain ourselves, stay in touch with friends and family and, of… Continue reading

Published by Mohamed Konate | Updated Oct 13, 2021

Oaken Financial review

Oaken Financial review:GIC and savings account As more and more players enter the financial services market, it becomes increasingly important for each one to set itself apart from the rest. Many have chosen to do this by specializing their services and focusing their efforts on serving only one particular portion of the market as… Continue reading

Published by Mohamed Konate | Updated Nov 19, 2021

Motusbank Review

Motusbank Review:Online bank with Mortgages, High Interest Savings Accounts and Personal Loans. In our last review, we introduced you to a unique concept you may not have heard about before: the online-only bank. These types of financial institutions forgo maintaining physical bank branches and instead opt to exist solely in the digital sphere. Digital… Continue reading

Published by Mohamed Konate | Updated Nov 19, 2021

Servus Credit Union Review

Servus Credit Union Review So far on this site we’ve taken a look at a couple of Canada’s leading credit unions. We’ve explained the basic ideas that drive these unique financial institutions, how they function, and the services they offer. If you’re a returning reader, you may remember how we compared and contrasted credit… Continue reading

Published by Mohamed Konate | Updated Nov 19, 2021

Affinity Credit Union Review

Affinity Credit Union Review We’ve spent a bit of time looking at credit unions in the past, but you still may be wondering exactly how they differ from a regular bank. The answer to that question, at least from the everyday consumer’s standpoint, is “not much.” There are, however, a couple of key… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How to make money online

Most people used to think that being employed was the only way to make money. However, this trend had changed over the years. As we speak, you will realize that many people have appreciated the concept of working online and generating an income. Nowadays, it has become the new norm. All you need to… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Debt Consolidation Canada

The basics of debt consolidation in Canada We hear a lot of talk about “debt” in the news today. We hear about the national debt, mortgage debt, student loan debt, auto loans, personal loans, financing agreements, and myriad other forms of debt. And the unique and creative ways that companies develop to keep consumers… Continue reading

Published by Mohamed Konate | Updated Nov 19, 2021

Meridian Credit Union Review

Meridian Credit Union Review A credit union is a financial institution that is owned by its Members and is a cooperative. Credit unions operate on the principle of people helping each other. One way credit unions achieve this is by offering members competitive rates and optimal financial services. The largest credit union in… Continue reading

Published by Mohamed Konate | Updated Oct 16, 2021

CRA Income tax filing 2021 and payment dates-COVID 19

CRA Tax Filing Deadline 2021 There are penalties for failing to file your taxes in a timely manner in Canada, which is why it is vital to know exactly when your taxes are due this year. Not only will you face federal and provincial penalties if you file later, but interest charges will accrue on… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

CPP Payment Dates

CPP Payment Dates and Guide If you landed on this page, you may have searched on Google for CPP Payment dates. We’ve saved the time and outlined the important dates you should know. The Canada Pension Plan, abbreviated as CPP, is a social insurance program offered to Canadians by the federal government. So long as… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

PC Optimum Program: How To Maximize Your PC Optimum Points in 2023

PC Optimum Program Overview Wouldn’t it be great if you could earn and save on everyday purchases such as groceries and toiletries? Fortunately, you can with the PC Optimum program! As a PC Optimum loyalty member, you can earn on everyday purchases with PC partner merchants, such as Loblaws, Shoppers Drug Mart, Joe Fresh and… Continue reading

Published by Mohamed Konate | Updated Feb 23, 2022

Aeroplan Rewards

Aeroplan Rewards Program Overview Canadians are lucky to have a plethora of loyalty programs available to them. One of the most iconic travel-based programs available is Aeroplan. Members of the Air Canada provided loyalty program can collect points while spending on everyday purchases. Once a member has earned enough points, they can make a… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Minimum Wage in Canada by Province

The minimum wage was first introduced in British Columbia and Manitoba in 1918 to protect children, women, and non-unionized workers with the other Canadian provinces and territories soon following suit. By 1920 the minimum wage was in place across Canada. (with the exception of Prince Edward Island which held out until 1960) Its intention was… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How to Register for CRA My Account

How to set up your CRA My Account CRA My Account is a secure portal from Canada Revenue Agency that lets you view your personal income tax and benefit information and manage your tax affairs online. Advantages of using CRA My account Accessible – It is available 21 hours a day, 7 days… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Tax Brackets Canada 2023: Federal and Provincial

Tax Brackets Canada 2023: Everything you need to know Tax Bracket Overview It is important to understand the tax bracket system in Canada otherwise you may be slapped with more taxes during tax season than you are prepared to pay. Canada has a progressive tax system which essentially means that you are taxed proportionately based… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

GST Payment Dates

If you landed on this page, you may have searched on Google for GST Payment dates. My Rate Compass will save you time as we’ve outlined the importants dates you should know.” GST Payment Dates: GST/HST Credit Overview What is the goods and services tax/harmonized sales tax (GST/HST) credit? The goods and services… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

PC Financial Mastercard Reviews and Comparison

3 PC Financial Mastercards Reviewed: All you need to know President’s Choice Financial Mastercard Review The President’s Choice Financial MasterCard is a basic no-fee credit card that is ideal for families and individuals who frequent stores where President’s Choice products are sold, including Joe Fresh, Loblaws, Real Canadian Superstore, and more. Annual Fee: $0 Additional… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Air Miles Points Guide 2023: What you need to know

In Canada, there are various travel loyalty programs, one of which is the Air Miles program. Perhaps you’re an existing Air Miles member and want to learn more, or maybe you’re entirely new to the program. Regardless, you can learn all about the Air Miles program in this guide, such as the different types of… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Canadian Bank Institution Numbers

Canadian Bank Institution Numbers Below is the list of institution number of the largest financial institutions in Canada.The institution number is a unique 3-digit code use to identify each financial institution. Canadian Bank Institution Numbers of the major banks (BMO) Bank of Montreal: 001 (Scotiabank)The Bank of Nova Scotia:002 (RBC) Royal Bank of Canada: 003… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Expedia for TD

Expedia for TD: What You Need to Know When TD introduced the Expedia for TD program, travel enthusiasts across Canada couldn’t believe the amazing deals they were accessing! Today, Expedia for TD is known to be one of the greatest travel based credit card programs in Canada. Whether you’re already a part of Expedia… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Mortgage Brokers vs Banks

What is the Difference Between a Bank Mortgage Representative and a Mortgage Broker? Is 2020 the year you purchase a home? If so, you might feel a little overwhelmed by all of the working parts of the process – one of which is choosing who to work with to obtain your mortgage. Two common… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Canadian Retirement Savings Plans: RSP versus RRSP

Chances are you don’t want to work for the rest of your life, who does? Planning for retirement involves saving money to support your retirement which can be done through various saving plans. In Canada, there are two common terms for these savings plans: Retirement Savings Plan, or RSP for short, and Registered… Continue reading

Published by Mohamed Konate | Updated Nov 19, 2021

Prime Rate

Prime Rate Canada A prime rate is the annual interest rate that the majority of Canadian banks and other financial institutions utilize to set interest rates for financial products. Prime rates are also referred to as prime lending rates. Whenever you apply for a loan with a variable interest rate, the lender will give… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Back-to-school shopping on a budget

6 Tips To Save On Back To School Shopping Back-to-school shopping is the second biggest retail event of the year. The only time Canadians spend more is during the winter holiday season. The difference between the two busy shopping times are, when you shop for Christmas it’s for a number of different people and most… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How to keep your summer spending in check

Summer’s here and it’s time to celebrate in the sun. Money experts love to talk about how expensive the winter holiday season is, but fail to warn families how pricey the summer holidays can be too. Unlike the Christmas holidays, that last only a few days, the summer holiday is a two month long event.… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

How to Manage Your Finances

We all want to get better with money. We want to have enough money for emergencies and invest in retirement instead of struggling to make ends meet and pay off our debt at the end of the month. The truth is, managing your finances is mostly behavioral. It’s not rocket science, but it does require… Continue reading

Published by Mohamed Konate | Updated Aug 26, 2023

Fraud Prevention Guide

Practical Ways to Avoid Credit Card Fraud and Identity Theft Fraud affects consumers both online and off. It has been estimated that Canadians lost over $290 million through fraud from 2014 to 2016. Being aware of the different scams and methods of fraud will help you stay a step ahead of these criminals. In this… Continue reading