Banking Terms

Many Canadians are confused and intimidated by some banking terms, simply because they never had the chance to learn their meaning. The Banking Terms section of Canadian Banks website, was designed to help solve this problem, and explain banking terminology in simple terms.

You can learn what bank account types you can open with the majority of the Canadian financial institutions, and what is online banking and how can you benefit from it. Thanks to Interac you can shop almost anywhere in Canada with your debit card, or withdraw money from ATM machines available everywhere. Canadian banks offer many services including but not limited to pre-authorized debit, issuing money orders and bank drafts, wire transfers, stop payments, and cheque holds.

As the current economic crisis progresses many people are worried about the safety of the Canadian banks, and want to know more about deposit insurance in Canada, and if bank runs can happen here in Canada.

The central banks play ever increasing role in world economies, controlling money supply and interest rates. If you want to stay ahead financially you need to understand how fractional-reserve banking works, and learn what terms like prime rate mean.

Find out what are the responsibilities of the Royal Canadian Mint, what is investment banking, and finally learn more about the Canadian Bankers Association.

Latest Banking Terms Articles