Go to Main Content

Advertisement

By MoneySense Staff on June 5, 2013
Estimated reading time: 1 minute

Group payments made easy

By MoneySense Staff on June 5, 2013
Estimated reading time: 1 minute

Interac has launched a new invite tool that helps you organize group payments in advance. This and other stories in the daily roundup.

Advertisement

Interac has launched a new invite tool that helps you organize group payments in advance using Interac’s e-Transfer service. It’s pretty convenient if you’re planning a party, group gift, organizing a sports league or settling an IOU. Each individual transfer back to the organizer does come with a fee however (determined by the sender’s bank), usually $1.50.
The above technology and others like it has brought on the demise of the personal cheque. But as this infographic from Canadian Business illustrates, cheques aren’t about to disappear just yet.
A new CIBC report suggests 49% of indebted Canadians aren’t making any progress paying down their debt. The top reason cited was not having enough money. “Though Canadians have identified paying down debt as their top financial priority for the past three years, our poll shows almost an even split between those who are making strides and those who aren’t,” said CIBC’s Christina Kramer in a release. “Today’s historically low interest rates represent a real opportunity to reduce your total debt level, however to take advantage of these low rates it is critical that Canadians have a plan to make that happen.”

Comments Cancel reply

Advertisement

Related Articles

Two Canadian investors looking at options trading.

Should you do options trading?

Get rich quick or risky business? Options trading is accessible but not for everyone.

Should you do options trading?

A man sitting at a table and videochatting on a laptop.

Financial Planning

The MoneySense Find a Qualified Advisor Tool

The MoneySense Find a Qualified Advisor Tool

Financial Planning

Russ Dyck financial advisor

Meet Russ Dyck, a Certified Financial Planner and founder of Finovo.

Russ Dyck financial advisor

What does Trump’s election mean for the Canadian economy?

The former U.S. president’s second election victory sparks concerns over a ripple effect on the Canadian economy.

What does Trump’s election mean for the Canadian economy?

The crypto markets’ response to the U.S. election results

Trump win ignites crypto frenzy that sends bitcoin to a record high.

The crypto markets’ response to the U.S. election results

Why are Canadians still frustrated with the economy?

Inflation is down, wages are up. But the economic recovery has been uneven, with “two contradictory trends” shaping Canadians’...

Why are Canadians still frustrated with the economy?

Two young girls play on the swings

CCB payment dates 2024 and 2025, and more to know about the Canada Child Benefit

Parents, here are the CCB payment dates for 2024 and 2025, along with how much you can expect to...

CCB payment dates 2024 and 2025, and more to know about the Canada Child Benefit

An older couple does stretches in a park

OAS payment dates in 2024 and 2025, and more to know about Old Age Security

Here’s how Canada’s Old Age Security pension works, who’s eligible for OAS, when you can start receiving OAS, and...

OAS payment dates in 2024 and 2025, and more to know about Old Age Security

A senior-age woman looks at her tablet on a park bench.

CPP payment dates in 2024 and 2025, and more to know about the Canada Pension Plan

Here’s how Canada’s retirement pension plan works, who’s eligible for CPP, when you can start receiving CPP, and CPP...

CPP payment dates in 2024 and 2025, and more to know about the Canada Pension Plan

How to report foreign income in Canada

Canadians have reporting requirements for foreign assets, income and tax paid. Here’s how to claim each of these on...

How to report foreign income in Canada