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Ottawa Wants to Raise Your Deposit Insurance to $250,000: What Changes (and What Doesn’t)

  For more than 20 years, the federal guarantee on your savings has been stuck at $100,000. In Thursday's budget, Ottawa proposed to raise it to $250,000. Here is what would change, what wouldn't, and why you shouldn't move a dollar yet. Today (unchanged since 2005) $100,000 per deposit category Proposed in Budget 2026 $250,000 per deposit category What Budget 2026 actually proposes The Canada Deposit Insurance Corporation (CDIC) protects your deposits if a member bank fails. The budget proposes amendments to the CDIC Act that would do four things: Raise the limit from $100,000 to $250,000 per deposit category, the first increase in more than two decades. Remove the limit entirely for eligible deposits held in registered and tax-free accounts. Today, the limit is $100,000 per account type at each institution. Add temporary high-balance coverage for life events such as selling a home. Require a review of the deposit insurance framework every 10 years. It isn't law yet. ...
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Navigating Europe: Essential Tips for Canadian Travelers in 2024


As a Canadian traveler venturing across the Atlantic to explore the rich history, diverse cultures, and stunning landscapes of Europe, there are several key considerations to keep in mind. Whether you’re backpacking through cobblestone streets or savoring croissants in a Parisian cafĂ©, these ten tips will enhance your European adventure:

  1. Visa Requirements: Know Before You Go

    • Research visa requirements for each European country you plan to visit. Some countries allow Canadians to enter visa-free, while others may require a Schengen visa. Ensure your passport is valid for at least six months beyond your travel dates.

  2. Currency Exchange and Payment Methods

    • Familiarize yourself with the local currency. Euros are widely accepted, but some countries (like the United Kingdom and Switzerland) have their own currencies. Use credit cards for convenience, but carry some cash for smaller purchases.

  3. Health Insurance and EHIC Card

    • Obtain comprehensive travel insurance that covers medical emergencies. Additionally, apply for a European Health Insurance Card (EHIC) to access healthcare services in participating countries.

  4. Packing Essentials

    • Pack versatile clothing suitable for varying climates. Layers are your best friend! Don’t forget adapters for European electrical outlets and a sturdy daypack for city explorations.

  5. Transportation Options

    • Consider using Eurail passes for seamless train travel between countries. Budget airlines and buses are also great options. Download transportation apps to navigate efficiently.

  6. Language Basics

    • While English is widely spoken, learning a few basic phrases in the local language shows respect and can be helpful. “Hello,” “thank you,” and “excuse me” go a long way.

  7. Tipping Etiquette

    • Tipping practices vary across Europe. In some countries, service charges are included in the bill. In others, leaving a small tip (around 10%) is appreciated. Research specific guidelines for each destination.

  8. Cultural Sensitivity

    • Be mindful of cultural norms. Dress modestly when visiting religious sites, and avoid loud conversations on public transportation. Europeans value privacy and personal space.

  9. Safety Precautions

    • Europe is generally safe, but pickpocketing can occur in crowded areas. Keep your belongings secure and be cautious. Emergency numbers vary by country, so save them in your phone.

  10. Local Cuisine and Dining Hours

    • Embrace culinary delights! Try local dishes, from Spanish tapas to Italian gelato. Note that dining hours differ—many restaurants close between lunch and dinner service.

Remember, each European country has its own unique charm, so immerse yourself in the local culture, savor the flavors, and create unforgettable memories. Bon voyage! 

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