Federal money, savings & borrowing
Choose a specific reviewed route below. Requirements depend on the service and location; these guides link to the current instructions from the issuing authority.
Make a complaint about your bank
Start with your bank’s complaint-handling process. The Financial Consumer Agency of Canada explains how to prepare, escalate and track a complaint, including when the external Ombudsman for Banking Services and Investments may be available. FCAC does not settle individual complaints.
Read the guideOpen a bank account in Canada
Start by comparing account fees, features and identification requirements. Apply directly to the institution and keep the account agreement; this guide explains the federal banking route, not a product recommendation.
Read the guideReport an unauthorized bank transaction
Report a transaction you did not authorize to your bank or card issuer immediately using its verified contact channel. Keep the reporting reference and follow its account-security and investigation instructions.
Read the guideFind an unclaimed Canadian bank balance
Search the Bank of Canada’s unclaimed-property service for qualifying balances transferred from federally regulated banks and trust companies. A matching name is a lead to investigate, not proof that the money belongs to you.
Read the guideCheck your RRSP contribution room
Your RRSP room is personal: the annual national limit is not automatically the amount you can deposit. Start with your latest CRA deduction-limit statement, account for contributions already made and distinguish unused contributions from unused room.
Read the guideWithdraw money from an RRSP
A normal RRSP withdrawal is generally taxable income. The issuer withholds tax, but that withholding may be less than your final tax bill. First establish whether this is a normal withdrawal, a direct transfer, or a withdrawal under a specific program.
Read the guideResolve an RRSP overcontribution
An RRSP excess contribution can create a monthly tax obligation. Reconcile the amounts and transaction dates promptly, then use CRA’s excess-contribution process for the affected year.
Read the guideCompare an RRSP and a TFSA
The main difference is when tax applies. Eligible RRSP contributions can reduce taxable income, while ordinary withdrawals are taxable. TFSA contributions do not create an income-tax deduction, and ordinary withdrawals are tax-free. The suitable choice depends on your goals and circumstances.
Read the guideCheck TFSA room and replace withdrawals
TFSA deposits use contribution room immediately. A withdrawal usually returns as new room on January 1 of the following year, not immediately. Reconcile all your accounts using your own transaction records before contributing again.
Read the guideOpen and contribute to an FHSA
An FHSA can combine a deduction for eligible contributions with a tax-free qualifying home withdrawal. Before opening one, check the age, Canadian residency and first-time-buyer tests. Contributions and RRSP transfers share the same participation room.
Read the guideUse an FHSA to buy a home
An FHSA home withdrawal is tax-free only when every qualifying condition is met. The opening test alone is not enough. Use the issuer’s qualifying-withdrawal process before taking the money out.
Read the guideUse the RRSP Home Buyers’ Plan
The Home Buyers’ Plan lets eligible participants withdraw RRSP funds toward a qualifying home and repay the amount over time. It differs from an FHSA qualifying withdrawal, which does not require repayment.
Read the guideOpen an RESP and request education benefits
Open an RESP through a promoter and ask it to apply for the education benefits it offers. The plan type, beneficiary and available benefits matter; opening an RESP alone does not establish entitlement to every grant.
Read the guideMove from an RRSP to retirement income
A RRIF pays retirement income from transferred savings. By the end of the year you turn 71, your RRSP must be dealt with through an available option: withdrawal, transfer to a RRIF, or an annuity. A direct transfer and a cash withdrawal have different tax treatment.
Read the guideOpen an RDSP and apply for disability savings support
An RDSP is long-term savings for an eligible person with a disability. Open it through a financial institution and apply for government support there. A disability savings bond may be available without a personal contribution; grants, bonds and withdrawals have different conditions.
Read the guideCompare and apply for a personal loan
A personal loan gives you a fixed amount to repay in instalments, with interest and any fees. Apply through a lender after comparing the total repayment cost and checking that the payments fit your budget.
Read the guideUnderstand a personal line of credit
A line of credit lets you borrow, repay and borrow again within an approved limit. Interest normally starts when you use the money. A minimum payment that covers only interest does not reduce what you owe.
Read the guideCompare debt consolidation options
Debt consolidation combines debts into one payment. It can simplify repayment, but a longer term or higher rate can make the total cost worse. Compare the whole repayment plan before replacing existing debts.
Read the guideGet and check your credit report
You can get free credit reports through Equifax and TransUnion. Checking your own report does not lower your credit rating. Review both because a report error can affect borrowing decisions.
Read the guidePlan your retirement in Canada
Start by comparing your expected spending with the income you could receive from public pensions, an employer pension and your savings. Choosing when to stop working and when to start each pension are separate decisions; you can still work while receiving public pensions.
Read the guideGet help when you cannot pay bills
Make a realistic picture of your income, essential spending and unpaid bills, then contact the companies or lenders you owe. They may offer repayment options, but changes must be agreed and can increase total interest.
Read the guide
Use the responsible authority
Each guide identifies its official sources and review date. Complete applications on the government website. This independent guide does not confirm eligibility or submit requests.