Q:

What are some financial services through Canadian Tire Bank?

A:

Quick Answer

Some financial services offered by Canadian Tire Bank are high interest savings accounts and Canadian Tire MasterCard accounts. Other financial services are Guaranteed Investment Certificates, tax-free savings accounts, and insurance products. Established in 1922, Canadian Tire is a publicly-traded Canadian retail giant that sells automotive products and services, sports and leisure products, and do-it-yourself home products and furnishings. It established its financial services arm, Canadian Tire Bank, in 1968.

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Full Answer

Canadian Tire's high-interest savings accounts offer high annual rates of interest, no monthly fees, no minimum balance required and no lock-in period. Customers can use online banking 24/7 to easily transfer funds between accounts, or telephone banking Monday to Friday from 8:00 a.m to 9:00 p.m. and Saturday from 8:00 a.m. to 6:00 p.m. Eastern Time, as of 2015.To open an account, applicants must be Canadian residents who are at least 12 years old, must deposit a personal check into the account, payable to the applicant, and must have a Canadian Social Insurance Number for tax purposes. As of December 2015, the high-interest savings account is not available to residents of Quebec.

Canadian Tire MasterCards include the Options MasterCard, which allows cardholders to collect Canadian Tire money; the Cash Advantage MasterCard, which offers up to 1.5 percent cash back on qualified purchases; and the Gas Advantage MasterCard, which offers tiered discounts on gas when refuelling at Canadian Tire gas stations.

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