Big Banks, Credit Unions and Digital Banks: Which Is Right for You?

Canada has several kinds of financial institutions. None is automatically best; the right choice depends on your needs.

Big banks. Canada's largest banks have branches and ATMs across the country, many services under one roof (chequing, credit cards, mortgages, investing) and strong newcomer programs. The trade-off is that monthly fees can be higher, and savings rates are often lower.