News archive: 2012 – 2015

Back to the News archive

December 2015

• TFSA contribution limit for 2016 will be $5,500, down from $10,000
• Long-running Canadian Direct Financial 0.25% GIC bonus for Canadian Direct Insurance customers ending April 2016
• Canadian Direct Financial now gives interest (currently 0.6%) on its chequing account
• Hubert Financial lowers regular savings and TFSA interest rate from 1.80% to 1.75%

November 2015

• Zag Bank makes its 2.5% promo rate its standard savings account interest rate, then drops it back to 0.8% one week later

October 2015

• Canadian Direct Financial increases its TFSA interest rate from 1.60% to 1.80%
• Tangerine launches cash back credit card

September 2015

• Rogers Platinum MasterCard waives foreign currency transaction fees
• Outlook Financial now supports Me2Me transfers aka external electronic funds transfers

August 2015

• Achieva Financial drops regular savings and TFSA interest rates from 1.85% to 1.70%

July 2015

• Canadian Direct Financial drops savings account interest rate to 1.50% (from 1.75%); TFSA down to 1.60% (from 1.75%)
• Outlook Financial drops regular savings and TFSA interest rates from 1.85% to 1.70%
• Peoples Trust drops regular savings (from 1.60% to 1.45%) and TFSA interest rate (from 2.25% to 2.00%)
• AcceleRate Financial drops regular savings and TFSA interest rates from 1.95% to 1.80%
• Implicity Financial drops regular savings and TFSA interest rates from 1.85% to 1.75%
• Tangerine Bank drops regular savings and TFSA interest rates from 1.05% to 0.80%
• PC Financial drops regular savings and TFSA interest rates from 1.05% to 0.80%
• MAXA Financial drops regular savings and TFSA interest rates from 1.85% to 1.75%
• Hubert Financial drops regular savings and TFSA interest rates from 1.90% to 1.80%

May 2015

• New bank: Zag Bank, with a slew of promotional offers and promotional interest rate
• Peoples Trust savings account and TFSA interest rates down to 1.60% (from 1.80%) and 2.25% (from 2.50%)

April 2015

• Hubert Financial decreases its TFSA and regular savings interest rate from 1.95% to 1.90%
• Annual TFSA limit officially increased to $10,000, effective back to January 1, 2015

March 2015

• Canadian Direct Financial decreases its TFSA and regular savings interest rate from 2.00% and 1.90% to 1.75%

February 2015

• Achieva Financial decreases its TFSA and regular savings interest rate from 2.00% to 1.85%
• ICICI Bank decreases its TFSA and regular savings interest rate to 1.35% (from 1.80% and 1.45%)
• Implicity Financial decreases its TFSA and regular savings interest rate from 2.00% to 1.85%
• Outlook Financial decreases its TFSA and regular savings interest rate from 2.00% to 1.85%
• Tangerine Bank drops its TFSA and regular savings interest rate from 1.30% to 1.05%
• PC Financial drops its TFSA and regular savings interest rate from 1.30% to 1.05%
• MAXA Financial drops its TFSA and regular savings interest rate from 2.00% to 1.85%

January 2015

• AcceleRate Financial decreases its TFSA and regular savings interest rate from 2.10% to 1.95%
• Hubert Financial now offers RRSPs and RRIFs through savings accounts and GICs
• Peoples Trust drops its regular TFSA interest rate from 3.00% to 2.50%

December 2014

• Hubert Financial to offer RRSPs/RRIFs and the electronic transfer of US funds between Canadian accounts in 2015
• Implicity Financial increases TFSA and regular savings account interest rate from 1.90% to 2.00%
• Outlook Financial increases TFSA and regular savings account interest rate from 1.80% to 2.00%
• AcceleRate Financial increases TFSA and regular savings account interest rate from 2.00% to 2.10%

November 2014

• MAXA Financial increases TFSA and regular savings account interest rate from 1.80% to 2.00%
• Achieva Financial increases interest rates, including 2.00% TFSA and regular savings accounts (from 1.80%)
• AcceleRate Financial increases TFSA and regular savings account interest rate from 1.95% to 2.00%

October 2014

• Tangerine to start charging a $45 transfer out fee for TFSA and RRSP accounts on January 1, 2015
• Capital One MasterCard replaced Amex card for Costco members

September 2014

• Canadian Direct Financial lowers its TFSA interest rate from 2.25% to 2.00%

July 2014

• PC Financial net new deposit savings account promotion is back until October 31: 2% interest rate
• AcceleRate Financial increases its TFSA and savings account interest rates from 1.90% to 1.95%
• CIBC and RBC savings account net new deposit promotions (2% interest) until September 30, 2014
• Implicity Financial now supports electronic transfers to and from external accounts

June 2014

• Hubert Financial increases its TFSA and savings account interest rates from 1.80% to 1.95%.
• Oaken Financial increases its savings account interest rate from 1.65% to 1.75%

May 2014

• Scotiabank to acquire 20% stake in Canadian Tire Financial Services
• BMO drops its no-fee chequing account through “BMO Sobeys”

April 2014

• Tangerine savings account promotion: 2.5% on all NEW deposits between April 8 and July 31, 2014
• PC Financial drops its savings account and TFSA interest rates to 1.30%
• Canadian Tire Financial drops its regular TFSA interest rate from 1.90% to 1.60%

March 2014

• ING Direct drops its savings account and TFSA interest rates to 1.30%
• PC Financial savings account promotion: 2.5% on all NEW deposits between now and June 30

December 2013

• Hubert Financial savings account and TFSA interest rates down to 1.80% from 1.85%

November 2013

• Peoples Trust online application information compromised: email addresses, social insurance numbers, dates of birth, and more
• PC Financial special 2.25% interest rate on savings account new deposits between November 1, 2013 and January 31, 2014

October 2013

• AcceleRate Financial savings account and TFSA interest rates up to 1.90% from 1.80%
• Peoples Trust drops its savings account interest rate from 1.90% to 1.80%

September 2013

• MAXA Financial savings account and TFSA interest rates up to 1.80% from 1.50%

August 2013

• Hubert Financial drops its savings account interest rate from 1.90% to 1.85%

July 15 to 21, 2013

• Bank of Canada key interest rate holds steady at 1% again; no increases anticipated in the short term
• Canadian Direct Financial publicly notes its free chequing account without a required minimum balance

June 30 to July 14, 2013

• Canadian Direct Financial TFSA interest rate drops from 2.55% to 2.25%

June 23 to 29, 2013

• PC Financial promotional 2.00% interest rate on new deposits from July 16 through October 31, 2013

June 9 to 22, 2013

• ING Direct GIC promotion: 90-day term at 2.00% for GICs opened in July

May 19 to June 8, 2013

• MAXA Financial TFSA and regular savings interest down to 1.50% from 1.75%

May 12 to 18, 2013

• New video explaining bank / financial institution deposit insurance in Canada from the CDIC

May 5 to 11, 2013

• Hubert Financial 1-year redeemable GIC gives 2.3% for first 3 months, 2.4% after 4, 2.5% after 7, 2.6% after 9

April 21 to May 4, 2013

• Implicity Financial TFSA and regular savings interest rate up from 1.80% to 1.90%

April 7 to 20, 2013

• PC Financial promotional 2.60% interest rate on new deposits from April 15 through July 15, 2013
• Hubert Financial TFSA and regular savings interest rate up to 1.90% from 1.80%

March 31 to April 6, 2013

• Manulife Bank TFSA rate down from 2.00% to 1.55%
• ING Direct promotional 2.50% savings account interest rate for new deposits made between April 1 and June 30, 2013

March 24 to 30, 2013

• Hubert Financial regular savings and TFSA rates down from 2.00% to 1.80%
• Canadian Tire Financial TFSA rate down from 2.00% to 1.90%

March 17 to 23, 2013

• Implicity Financial regular savings and TFSA rates down from 2.00% to 1.80%

March 10 to 16, 2013

• Manulife Financial regular savings rate down from 1.65% to 1.55%

March 3 to 9, 2013

• MAXA Financial TFSA and regular savings rate down from 2.00% to 1.75%
• AcceleRate Financial drops its regular savings and TFSA interest rates from 2.00% to 1.80%
• Outlook Financial savings account and TFSA interest rate down from 2.00% to 1.80%

February 24 to March 2, 2013

• Hubert Financial TFSA and regular savings rate up from 1.85% to 2.00%
• Summary of PC Financial changes, affecting bonus interest, tiered interest, hold times, PC points
• Achieva Financial savings account and TFSA interest rate down from 2.00% to 1.80%

February 17 to 23, 2013

• PC Financial discontinuing bonus interest on account anniversaries
• 2% promotional interest rate on new deposits in PC Financial savings accounts until March 31, 2013
• All Ally Financial savings account interest rates are dropped
• Canadian Tire Financial lowers its savings account interest rate from 1.70% to 1.50%
• Direct linking of external accounts in Implicity Financial interface is highly requested, to be implemented mid-2013.

February 3 to 16, 2013

• No new Ally Financial accounts can be opened; existing savings accounts will be closed April 30, 2013
• Free 2013 personal income tax software

January 27 to February 2, 2013

• Sunova Credit Union is the first credit union to offer Interac Flash (Interac’s version of PayPass / payWave)

January 6 to 26, 2013

• New financial institution Implicity Financial with 2% savings account rate
• Summary of charges for cash withdrawals while travelling
• BMO TFSA promo until April 30 (2.25%; regular rate 1.15%)

December 30, 2012 to January 5, 2013

• First look at Peoples Trust online banking interface, generally and for TFSAs
• ING Direct promo: 90-day TFSA GIC 2.5%

December 23 to 29, 2012

• Target to introduce a 5% discount at their stores in Canada

December 16 to 22, 2012

December 2 to 15, 2012

November 25 to December 1, 2012

November 17 to 24, 2012

November 10 to 16, 2012

November 3 to 9, 2012