Financial Services _Çô Client Services RFC121 Chapter 4: RFC121 Ch. 4 Notes copy
26 Oct 2016
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Document Summary
Canada has 83 banks, 52 trust companies, 360 credit unions and caisses populaires. Buying groceries, paying the rent, and other routine spending activities require a cash management plan. When you need more cash than you currently have available, you have two basic choices: liquidate savings or borrow. Gic, mutual fund, or other investment may be raided when you need funds. A bank overdraft and credit card cash advance will be quicker but come at a much higher cost. Banks and other financial institutions offer services to meet a variety of needs. These services fall into four main categories: savings. Safe storage of funds for future use is a basic need for everyone. Credit alternatives range from short-term accounts, such as credit cards and cash leans, to long-term borrowing, such as a home mortgage: other financial services. Insurance protection, investment for the future, real estate purchases, tax assistance, and financial planning are additional services you may need for successful financial management.
