https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k by Michael Karaoulis en-us 2020-11-27 22:39:08 UTC 2023-07-26 07:26:47 UTC hello@padlet.com karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966450905 There are many factors to consider when deciding what bank to go to. 
Some important factors are interest rates, fees, compounding intervals, limits and customer service. Although we have digital banking, it could still be important to go to a physical bank. People need to choose a bank that suits them best. ]]> 2020-11-27 22:46:28 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966450905 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966455424 This website provides a list of  important factors to keep in mind when choosing a bank. They are: charges, interest rates,
online and brick and mortar options, customer service and trust. It says to research charges, especially transaction fees, hidden fees, and monthly fees before choosing your bank because they can add up. Before choosing a bank, you could read testimonials and reviews to see how customers feel about their experience at the bank. 

I chose this website because the layout was easy to read and the information was clear and easy to understand. The seven reasons covered most of the factors people need to think about. I learned that we need to be careful when choosing a savings account in particular because the fees might outweigh the interest that you are earning. ]]> 2020-11-27 22:51:59 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966455424 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966516354 This picture shows the big 5 banking corporations in Canada. They are highly regulated by the federal government and the Bank of Canada. People will usually go to one of these 5 corporations for their services. They are also oligopolies, which means the competition is limited in the banking industry in Canada. 
https://nupge.ca/content/conservatives-let-banks-pick-own-arbitrators-disputes]]> 2020-11-28 00:07:57 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966516354 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966526443 This image describes the options consumers have when it comes to Canadian banking. We can choose from in person to online and other electronic methods of banking. We can also use debit and credit cards from our local institutions. Consumers can choose 1 bank for 1 product or service and another bank for different products or services. The need for online banking is increasing and most banking institutions are recognizing that need.
Source: https://cba.ca/banks-and-consumers]]> 2020-11-28 00:20:56 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966526443 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966543010 This video is about factors that are important for college students who are choosing a bank. The 3 main things to consider would be price of transactions, ease of banking, and special offers. This video demonstrates for people in college to choose their bank carefully because they will probably have a long relationship with the bank. 

I chose this video because it was easy to understand and it was made for people at my stage in life. One thing I did find helpful was the consideration of free services when making your decision, like ATM transactions. This is important because college students don't have a lot of disposable income and they don't want to pay so much for these services.

]]> 2020-11-28 00:44:26 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966543010 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966555855 This video compares banks and credit unions. There are some unique differences between the two. Banks are for profit and will charge higher interest rates and fees so they can make more money. Credit unions are not for profit. They also provide the same services as a bank but with lower charges and interest rates. Credit unions are found in local communities and not across the whole country so they care about their clients more.

I chose this video because it was a good video to describe the differences. The video also used good visuals to make their points. I learned that credit unions don't care about profits as much compared to the big 5 banks. I never thought of using a credit union, but as a young student I would consider it now.]]> 2020-11-28 01:02:26 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966555855 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966560458 In this video, the person went through the big 5 banks in Canada plus the 4 online banks and did comparisons. She compared the savings accounts they offered and their advantages and disadvantages. She also compared their chequing accounts and she showed the fees associated with each account. Then she explained the difference between the online only banks. Finally, she reviewed her choice which was Tangerine and why she chose it. 

I liked this video was very informative and the comparisons were great. I also feel it would be easier to watch the video to compare than do all the research yourself. The video goes through everything you could possibly think of when it comes to chequing or savings accounts. I learned how to comparison shop in this category. I also learned that it is okay to go to a smaller bank that is owned by a larger corporation, like Tangerine which is owned by Scotiabank. ]]> 2020-11-28 01:09:21 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966560458 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966571028 This video describes some of the issues with the biggest banks in Canada. All 5 big banks have been increasing their fees for customers so they can increase their profits. The two customers that told their story did not know about the fees changing, and they were disappointed in the way the bank treated them. To avoid this from happening, the video said you could take your business elsewhere to a credit union or an online bank.

I liked this video because it brings up the issues customers face on a regular basis. It shows the importance of checking our accounts frequently to make sure nothing unethical happens. It made me think about my own situation because I have been charged for fees that I do not deserve to have taken out of my account. I learned that I should check my account more frequently and to contact the bank quickly. ]]> 2020-11-28 01:24:29 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966571028 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966577654 This website is devoted to student banking. It says that students are already in tough financial scenarios and that low or no fee accounts are good for them. It compares some of the big 5 banks plus the 4 online banks in Canada by showing the details of their student accounts. 

I like how the format of this website works because it is easy to read and compare the information. It shows special promotions and features for each bank. It does not have an opinion as to which one is the best. I learned that there were student accounts that I didn't even know about. I would consider looking into these to see if I should make a switch. I would now consider doing online only banking. I didn't know that there were bonuses available and I would consider signing up for a new student account to get a reward.]]> 2020-11-28 01:34:23 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966577654 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966585187 This website goes through banks that have low cost bank accounts and the conditions for getting one of these bank accounts. The government suggests that these accounts charge no more than $4 a month. You can get one of these accounts if you meet certain criteria like being a student or youth. They also list the services that would come with these, such as getting a debit card, making deposits and debit transactions. All major banks and some smaller banks carry these services.

I like how this site is a government site because it is reliable. The layout of the website is easy to read and it's just the right amount of information. I did not know that the government had a deal with these institutions to protect citizens from paying too much for banking each month. They are trying to protect people with low incomes such as students and seniors.]]> 2020-11-28 01:45:35 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/966585187 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/967102296 This websites provides an overview of how consumers use banks in Canada. It goes through credit cards, services, mortgages and technology. There are facts on how many Canadians pay banking charges, mortgages and their credit card balances. According to this website, $100 billion has been spent on information technology enhancements for banking. The Canadian banking industry helps the economy grow because it contributed to 3.3% of the GDP.

I like this website because it is recent and the information is really useful. The website shows that Canadians have confidence in their institutions and that they are satisfied with them. I learned that the banking sector has a significant impact on GDP. I also learned how much money the major banks in Canada have spent adapting to new technology and growing.]]> 2020-11-28 14:43:48 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/967102296 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/967193166 2020-11-28 16:13:03 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/967193166 karaoulismichael https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/967193200 2020-11-28 16:13:04 UTC https://padlet.com/karaoulismichael/d5jhcdn8zvnnk60k/wish/967193200