Financial Advisor

Canadian banks at the time of mobile payment

2012-05-18T06:02:09Z

To adapt to the current trend is using technology in all fields, Canadian banks are updating their offerings to the features available on mobile.

Mobile payment: soon available in Canada

mobile payment shortly to be offered in Canada. Indeed, the technical installations will be completed in a few days and the new service should be operational soon. The Association of Canadian banks wanted to implement a formal reference model in order to ensure the security of digital transactions made by consumers from their mobile phones. These bodies should have a digital portfolio will feature NFC technology. But the big banks, credit card manufacturers and suppliers must first agree to make this feature easily accessible. Discussions are already underway.

The Ministry of Finance, in favor of mobile payment

other banks will follow the new trends in As. The ABC brings together some banks in Canada, namely CIBC, National Bank, Bank of Montreal and Royal Bank points out that most businesses in the country are eager to use this new service. Mobile payment has advantages for merchants and consumers, since the transaction will be fast, reliable and secure. It is also an economical alternative to paying by check. Note that the Canadian Department of Finance issued a formal report recommending that banks use this technique in March this year. The ministry said in this press release that modern technology could increase productivity in Canada stating that the GDP could increase by 2 percentage points by 2016. The reference model proposed by the banks is published on the official website of the CBA: www.cba.ca / en.

source: LaPresse

Slowdown in consumer credit in Canada

2012-05-14T17:59:46Z

The latest report from CIBC Credit reveals a significant deceleration of the use of consumer loans earlier this year in Canada. The growth rate of loans has now reached its lowest level since 1990.

The credit market has stalled

All observations made earlier this year on the status of credits in Canada lead to the same conclusion: the use of loans to households starts to seriously slow down since the beginning of the year. In the first quarter 2012, loans to households rose by about 5% yoy in the country. Not since the year 2002 to find the same pace. This slowdown is largely due to net income of the poor performance of consumer credit, which the gain was only 2.3% over the same period in 2011 and 0.1% from the previous quarter. Mortgage debt is no exception, with an increase of 6.3%, well below the average increase of 7.3% over the past two years.

Canadian households more suspicious?

From the analysis of CIBC, the slowdown in consumer loans primarily the result of the declining profitability of credit cards. The overheating housing market, with prices more accessible, consumers also demotivating. However, the housing sector is the main factor of debt in the country. The report also mentioned the strengthening of the conditions in the mortgage market, regulators are becoming increasingly picky about the analysis and risk management. The timing of the outstanding loan to households also demonstrates the willingness of Canadians to better manage their arrears, to significantly reduce their debt ratio, which stabilized at 20% since 2010.

RBC Visa Debit Virtual: to distance purchases

2012-05-11T06:00:43Z

The Royal Bank of Canada offers its customers the RBC Virtual Visa Debit, payment method for purchasing remote transactions are directly debited to RBC accounts.

The RBC Visa Debit Virtual

Noting the further development of electronic commerce worldwide, the Royal Bank of Canada, one of the largest banks in North America innovates a new payment method. The service called Virtual RBC Visa Debit, developed in partnership with Visa, RBC will allow customers to make payments using their personal bank account. The new card will be valid for online purchases and those made through the mail service or telephone sales. Users can use this payment method to a large number of traders who will validate the service. The RBC Visa Debit card comes with all required information, number, expiry date and a code with three digits.

Visa network security

Developed with Visa, specializing in electronic payment modes since 1958, the service guarantees both quality and safety required for this payment method. Visa, present in some 160 countries, is accepted by 26 million locations worldwide. No fees required, RBC Visa Debit, designed specifically for remote purchase will not be used in stores and ATMs. For RBC, the launch of this service will meet the growing needs of their customers who can now make their purchases online freely and safely, in Canada or abroad. The purchases will be debited directly from their bank accounts held at the Royal Bank.

BMO Credit Card Montreal Impact (MLS)

2012-05-09T12:01:35Z

Bank of Montreal (BMO) has decided to contribute to the development of Major League Soccer in providing professional players and their fans several advantages. This initiative demonstrates the support of BMO in the most practiced sport in Canada.

Details of the offer for members of the MLS teams

As the main sponsor of the Montreal Impact, a team playing in Major League Soccer, the BMO has been keen to offer support for all members of the MLS players. Indeed, now, all professional soccer players have a BMO MasterCard at their disposal. This card will give them access to quality services offered to investors of the Bank of Montreal. Moreover, it also allows them to receive loyalty bonuses.

The advantages offered by the bank BMO soccer fans

BMO, thinking also fans of the Montreal Impact, has decided to make them specific advantages. Indeed, after a brief entry on the page www.bmo.com / mls, available on the official website of the bank or agency of the BMO, the supporters of the Montreal team will get a BMO MasterCard and the MLS benefit from the BMO Power of Blue during the home games of the MLS. They will be able to quickly enter and sit on the best benches of the stadium. Before each meeting, they will also have the opportunity to measure the performance of their field goal by taking part in the kick at BMO.

ClicAssure: a single application for several car insurance quote

2012-05-08T14:59:46Z

the right home or auto insurer among the hundreds of Canadian operators is not an easy task. ClicAssure helps its customers in Quebec through this process to its original concept.

A insurance quote with ClicAssure

The principle of seeking ClicAssure wants to be very simple and accessible to all. The broker wants above all to help visitors to better compare insurance quotes in Canada. To access all of its services, simply register on the site by providing all required information: marital status, email, phone, address, etc.. The form also requests certain information on the number / type of cars to be insured, dependents, the reason for the subscription and the date of entry into force of auto coverage. The intermediary automatically sends data to insurers present in the locality of the subscriber. Operators contacted by the broker to meet the submission as soon as possible and offer everyone an insurance quote tailored to customer demand. It is up to it to choose its coverage contract from the offers made and negotiate its contribution.

Shop faster and more efficiently

The new concept allows the broker to have an overview of the formulas or auto insurance in each region. This makes it easier to find the most effective proposals and cheaper. Through the submission system unique shopping insurance requires very little time and effort. In collaboration with the best insurers in Canada, the broker agrees to display only quality fonts and least expensive market. Already number one in Quebec, the broker intends to expand its community and to benefit from its services to more users. ClicAssure.com offers $ 5 to request a quote insurance carried by a friend or family member by invitation of a member of the site.

Canadians know how to take advantage of the tax refund

2012-05-04T06:09:35Z

Scotiabank has just conducted a survey on the use by the Canadian tax refunds in 2011. The survey results reveal that most Canadians use them for useful purposes.

How do they want Canadians to use their tax refund

From the analysis of the consulting firm Harris / Decima conducted a workforce of 1,005 Canadians, 22% of those who received a tax refund in 2011 want to use it to repay the loans they contracted. Moreover, 23% of Canadians who have received their refunds aspire to reinvest it. In this category of people, it is the residents of Ontario who support an investment bank. It is mainly households whose family income reaches $ 100 000. Furthermore, this study specifies that for the year 2012, one quarter of Canadians do not plan to apply for tax refund last year.

Scotiabank advises private

According

Scotiabank, the best way to enjoy the benefits of the tax refund is to contact a bank. The finance specialist will take care to dissect the financial situation of each client before advising on the most profitable use of his tax refund. However, refer to individuals, the bank provides some suggestions here. Thus, the resulting sum may be deposited in a Savings Account Tax-free (TFSA), or used to repay a mortgage, taxes or a credit card balance. It can be used to match contributions to an RRSP.

Incoming search terms:

more nonaManis

Mortgage credit: increased demand for fixed-rate loans in 2012

2012-05-03T08:59:18Z

In the area of mortgage loans, applicants are directed towards the stated times in 2012. This trend is due to interest rates currently applied in the housing market.

Evolution of the mortgage industry in Canada

The results of the survey conducted by RBC and Royal Bank of Canada, over half of Canadians are based on the exchange rate credits to submit their mortgage application. This year, there was little difference between rates for different loans, which encourages borrowers to turn to fixed rate loans. Claude DeMone, managing director at RBC, provides that 42% of homeowners will turn to this type of loan in 2012. By taking advantage of interest rates currently on fixed maturities, 62% of borrowers may anticipate repayment of their outstanding loans. However, 21% of borrowers prefer to take advantage of low interest on variable rate loans.

The conditions for mortgage

According to Claude

DeMone, several criteria must be considered before applying for a mortgage. After deciding the interest rates that suit them, applicants must include an interest in repayment of their credit. In the long term, it is essential to ensure that we can perform without difficulty the mortgage. On fixed-rate loans, it is also advisable to study the possibility to repay the loan prior to maturity to reduce the total cost of credit. Depending on their type of contract, borrowers can also request an extension of their mortgage. They can thus benefit from the interest rates the lowest.

Kanetix.ca, insurance broker in Canada

2012-04-27T06:01:22Z

Given the number of existing providers, insurance through the Internet is not always easy in Canada. To simplify the search of Canadian Internet users, Kanetix.ca offers to bid (quote) online.

About Kanetix.ca

The ingenuity of George Small and Gregory Ellis, Kanetix.ca the site was put online. Built in 1999, this trading platform specializes in the insurance field. Its main objective is to facilitate research and subscriptions for Canadians to different types of insurance existing in the territory. Occupying a leading position in the insurance brokerage market in Canada, Kanetix.ca attracts thousands of visitors daily. To meet the needs and requirements of future assured, the site works closely with about thirty insurance companies. Easy to use, it is available in French and English.

The products offered on Kanetix.ca

Kanetix.ca portal, users can compare 15 different types of insurance. Indeed, the products offered by the broker vary auto insurance home insurance through the health insurance, motorcycle insurance, insurance and pet insurance to credit cards. On the site, all persons conducting business activities can also take out insurance covering their work. Residents, travelers and students who travel to Canada was also the possibility to choose the travel insurance that suits them. To guide users to the best formula, the site includes a section full of tips.

Incoming search terms:

kanetix ca

Tax credits for Canadians: did you know?

2012-04-25T11:58:36Z

Monday, April 30, 2012, deadline for filing income tax return in 2011 of Canadian taxpayers, is fast approaching. To achieve maximum savings, BMO Harris Bank recommends checking if you qualify for tax credits little known in Canada.

Deductions from tax in Canada: there are solutions

In Canada, as in many other countries, governments are territorial, provincial and federal governments offer various tax credits aimed at reducing the tax burden of taxpayers. As we approach the April 30 deadline for filing income tax return in 2011, it is important to know the details of these tax benefits. BMO Harris Bank has engaged in some explanations about it and brings with her expertise in taxation. The bank invites Quebec and Canada to do more research on existing tax credits, some of which are little known to Canadians.

The tax deductions for students and professionals

To access the professional status, a student must first take an examination which involves additional costs. In cases where charges have been paid to a recognized institution and eligible, the applicant may request a deduction for examination fees or tuition in his statement. The textbook tax credit is intended to turn students and postsecondary students forced to buy books to study at high prices. They can claim up to $ 20 each per month or $ 65 per month, if they take courses part-time or full time.

individuals exercising profession also receive a tax credit up to $ 500 for working tools purchased during fiscal year 2011.

The tax benefits for businesses, parents and caregivers

company who uses the services of an apprentice in a prescribed trade can legally apply for a tax reduction up to $ 2,000 in his statement. This amount is payable to treatment and 10% of the apprentice’s salary for 2 years after recruitment. This tax credit is only valid if the apprenticeship contract was previously registered with the territorial authorities, provincial or federal.

Parents place their children in an extracurricular activity – art, learning, sports, etc.. – Are entitled to claim up to $ 500 under the tax credit for fitness and artistic activities of the child.

Families ( caregiver ) dealing with an adult relative’s home, physically or mentally deficient, can also claim a deduction for caregivers, under certain conditions of the resource person charge.

Energy Savings Calculator Ecovie Scotiabank

2012-04-23T18:03:03Z

On the occasion of Earth Day, the Canadian Scotia Bank expands its range of services and products dedicated to his program EcoLiving. The latest is the Savings Calculator Home Energy . This is a financing program that allows homeowners to improve the profitability of their investments while safeguarding the environment.

To rectify energy expenditure

Savings Calculator is a residential energy online solution proposed by Scotiabank. The latter, based on information provided by the owners, allows Canadian households to assess their energy expenditure. This product is used to finance work to improve the performance of real estate investments. Scotiabank advises indeed owners to adopt forms of energy consumption more economical and environmentally friendly. This device also provides guidance to households of high energy efficiency projects.

How does the calculator

device, after calculating the energy costs of homes, estimates the energy savings that the homeowner can make. The energy savings calculator residential makes recommendations to achieve a maximum power consumption. The service establishes an estimate of any work to be done and also assesses the delay in return of investment of the project, while providing information on earnings that can provide such a site. The bank opens its credit for projects that fit its goal of preserving the ecosystem.

Scotia, a green bank

Scotia, being a green bank, wants to commit to the preservation of the ecosystem. It undertakes, with input from its partners, projects for environmental purposes. These include the Eco-Life Auto Credit for individuals to purchase environmentally friendly vehicles. The program EcoEnergie has meanwhile been designed to finance investment projects in green energy for small and medium entrepreneurs. The financial institution is also involved in various recycling projects. Strong results from its actions to green, Scotiabank, via EcoLiving, intends to meet the needs of many households to assist in the preservation of nature.

The address of the computer: ecovie.banquescotia.com / calculator