FAQ: What Is The Best Canadian Bank?

Best Banks in Canada

  • Royal Bank of Canada. The Royal Bank of Canada is Canada’s largest bank and was founded in 1864.
  • Toronto-Dominion Bank. TD Bank is the second-largest bank in Canada, and has over 25 million customers worldwide.
  • Scotiabank.
  • Bank of Montreal.
  • Canadian Imperial Bank of Commerce.
  • Tangerine.
  • EQ Bank.
  • Simplii.

What is the number 1 bank in Canada?

1. Royal Bank of Canada. The Royal Bank of Canada is the largest of the Big Five with respect to net revenue (C$11.4 billion in 2020) and capitalization (C$132.5 billion in 2020). The Royal Bank of Canada has over 17 million clients worldwide, over 86,000 full-time employees and over 1,300 branches.

Which Canadian bank is the strongest?

Toronto-Dominion Bank (or TD Bank Group) is the largest bank in Canada in terms of total assets and the second largest by market capitalization. It employs approximately 90,000 people and operates through around 1,100 retail branches and 3,440 ATMs in Canada.

What are the top 3 banks in Canada?

Big Five is the name colloquially given to the five largest banks that dominate the banking industry of Canada: Bank of Montreal (BMO), Bank of Nova Scotia (Scotiabank), Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and Toronto-Dominion Bank (TD).

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Is RBC or TD better?

Neither RBC or TD Canada Trust has very good rates on its savings accounts than some competing online banks. Overall, the ability to get fees waived on chequing accounts, the opportunity to buy some ETFs for free, and better investment options give TD an edge over RBC.

Which is the safest bank in Canada?

Canada has one of the safest banking systems in the world. The Royal Bank of Canada, TD Bank, Bank of Nova Scotia (Scotiabank), Bank of Montreal, and the Canadian Imperial Bank of Commerce all rank within the top-35 most stable banks in the world.

Is TD a good bank?

Overall, TD Bank is best for consumers on the East Coast who value a bank with a large brick-and-mortar presence, as well as a variety of checking and savings accounts to choose from.

Which bank has the best benefits?

Best banks and credit unions:

  • Best overall, best for customer service: Ally Bank.
  • Best overall, best for cash-back rewards: Discover Bank.
  • Best overall, best for ATM availability: Alliant Credit Union.
  • Best overall, best for overdraft options: One.
  • Best overall, best for rates: Varo Bank.
  • Best overall, best for tools: Chime.

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