Angela Brown
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Angela Brown, President and Chief Executive Officer of Moneris Solutions.
Angela Brown
CardWeb.com’s CardExecs database of payments industry movers and shakers today features Angela Brown, Chief Executive Officer, Moneris Solutions.
Bharat Masrani
CardWeb.com’s CardExecs database of payment industry movers and shakers today features Bharat Masrani, President and Chief Executive Officer of TD Bank Group.
Manulife Finds Canadians Don’t Coordinate Accounts
A Manulife Bank Survey reveals that 48% of Canadians open bank accounts
and products as needed, without a strategy, losing an average of $1,000 a year through poor debt and short term asset management. Furthermore, of the 87% with a checking account, 96% also have a high interest savings account. While the average number of bank credit cards per respondent was just over 1, 93% of those also held department store or gas company cards. Of the 30% who said they have a mortgage, 45% also have a line of credit. The average Canadian has 8 different bank products across multiple bank accounts. For this reason, Manulife bank has introduced an ‘all-in-one’ account, which 40% said
they would consider opening to save money on fees and the like.
Canadian Homeowners Not Consolidating Debt
Nearly two-thirds of Canadian homeowners with household debt surveyed last
month say they have never consolidated what they owe, in contrast to a new
research study for Manulife Bank of Canada that confirms they could save
borrowing costs by combining their debts and short-term assets. More than
a third of those homeowners say they only make minimum payments on their
mortgages, credits cards and other loans, according
to the national poll conducted in late September. A typical Canadian
family, with a residential mortgage, loses an average of $1,000 per year
by not effectively managing their debts and short-term assets. Manulife
Financial is a leading Canadian-based financial services with Cdn$364
billion (US$297 billion) funds under management.