Questions tagged [canada]
For questions that relate to the financial laws, practices, and products of Canada.
135
questions
29
votes
5
answers
14k
views
Unsolicited e-transfer: Can I send the money back or am I getting scammed?
Out of the blue, I got sent $50 I wasn't expecting over Interac e-Transfer. Now, the sender has emailed me saying it was a mistake. I want to do the honest thing and send them back their money, but it ...
- 393
23
votes
3
answers
6k
views
Why is "cheque cashing" a legitimate business?
There are many places around here, often co-located with pawn shops or payday-loan places, where they offer to "cash cheques" immediately, with some very high fee.
How does this get any business? ...
- 493
20
votes
10
answers
7k
views
How to save money by shopping at a variety of grocery stores?
I am living close to a mall with several grocery stores. I would like to save money on the food I buy. I have tried using apps that show me the best prices, ads, and coupons from multiple stores, but ...
- 1,119
18
votes
7
answers
4k
views
What are the advantages of paying off a mortgage quickly?
What are the advantages of paying off the mortgage quickly??
Sure, not paying interest and truly owning your house is great, but then the money is tied in a fixed asset, and if you want to get at ...
- 191
16
votes
3
answers
722
views
Aside from having to re-establish credit & credit history, what are downsides to declaring personal bankruptcy?
If someone were to file for (personal) bankruptcy protection from their creditors, is their entire debt wiped clean? And then they have seven years to wait before their credit history no longer ...
- 261
16
votes
4
answers
11k
views
Minimize taxes now that I earn more
Background
I recently received a hefty promotion for $350k (plus stocks and bonuses) with the same company. Now that I can finally start to pay down my debt, I'm not so happy that suddenly 45% of my ...
- 201
16
votes
3
answers
5k
views
Why are wire transfers and other financial services in Canada so much more expensive than in Europe?
Why are wire transfers in Canada so expensive compared to Europe? The simple answer I've seen is because bankers are crooks, but I find that this oversimplifies the situation — I don't believe ...
- 3,223
16
votes
9
answers
13k
views
I unknowingly went $1200 over my credit card limit, how do I fix it?
I got a RBC Visa in Canada which I continued to use trusting that I could never go over my limit (except maybe $100 over as stated by a teller to me when I asked why was I able to go $1200 over).
So ...
- 361
13
votes
3
answers
7k
views
When do dual citizens (Canadian & American citizenship) need to file U.S. income taxes?
I'm a Canadian-US dual citizen (born in the US to Canadian parents) but I've lived in Canada my whole life (aside from the first 3 weeks). I've never had an American passport or a SSN. I've never ...
- 1,281
12
votes
2
answers
1k
views
Why do they ask whether it is a paycheck or not in a bank?
I am getting paid with checks so each time I deposit it to my bank account they ask whether it is a paycheck or not. What difference does it make?
- 893
11
votes
4
answers
1k
views
Is an index fund a good choice for a starter investment?
As an individual that is willing to consistently invest ~100-150 dollars monthly into an investment, willing to devote an average of an hour a day to educate himself / monitor investments, what kinds ...
- 16k
11
votes
2
answers
471
views
I've heard pennies are being phased out in Canada. Is this true?
If so, will it affect how retailers price items? Will they round up?
- 8,683
10
votes
4
answers
3k
views
Will says "divide estate equally". Life insurance has one named beneficiary. Can proceeds be made estate property?
If a parent dies and leaves a will that divides the estate equally, but also leaves a life insurance plan that names only one child as a beneficiary, can the other siblings force the life insurance ...
- 101
10
votes
4
answers
885
views
When will Canada convert to the U.S. Dollar as an official currency?
(note I really don't want this to sound argumentative, I'm genuinely interested. The title is simply a follow up to this question and my answer.
To the Canadian users of this site, would you agree ...
- 3,893
9
votes
8
answers
13k
views
Losing Money with Norbert's Gambit
In attempt to avoid the usual 1.5-2% exchange fees levied by brokers, I perform Norbert's gambit: I purchase DLR.TO in CAD (Canadian dollars) from TSX, journal it over to DLR.U.TO, and then sell the ...
- 101