News Archive - Personal Finance

TD customers frustrated as money from email transfers float around in cyberspace

Several TD Bank customers have come forward to express frustrations over issues with TD’s email transfer service. These customers have experiences issues depositing money that was sent to them into their accounts.

Shaun Rickard, who owns his own business, was among those experiencing problems. Rickard often receives email transfers from customers, and currently has $1,700 that was sent to him floating around in transfer limbo.

"It's just kind of floating right now [in cyber space]" says Rickard who owns Home Doctor, in Toronto. "It's very frustrating."

RBC first Canadian bank to enable bill payments for Siri

Siri, the nebulous personal assistant and sometimes joke teller that inhabits Apple devices is now capable of paying your bills for you. Well, you still have to shell out the money for the bill, but if you're an RBC client, you will be able to ask Siri to transfer the funds from your account to the payee by using nothing but your voice.

RBC to repay $22M in excessive fees

The Royal Bank of Canada has agreed to pay back money it obtained by charging clients excessive fees. The sum totals nearly $22 million in overcharges, plus almost $1 million to the Ontario Securities Commission, which performed the investigation. 

The excessive charges were made on mutual funds and investerment products, and were deemed to have not been "Detected or corrected in a timely manner," as stated in the OSC report referenced by the CBC

Canadian teens rank 3rd among world’s most financially literate

A row of teenagers at a desk in school.

According to a recent study by the Organization for Economic Co-operation and Development, Canadian teens are among the most financially literate in the world.

The study, which polled fifteen-year-olds from seven different provinces, asked questions about consumer rights, personal finance, contracts and different forms of money. All told, young Canadians scored the third most knowledgeable in the world, trailing only China and Belgium from the list of participating countries.