Some banks offer reduced credit card interest rate for clients affected by virus

first_img Canadian Press Keywords Interest rates,  Coronavirus,  Credit cards,  Mortgages Share this article and your comments with peers on social media Several of Canada’s largest banks are offering reduced interest rates on personal credit cards for Canadians in financial hardship due to the Covid-19 pandemic.CIBC credit card clients who request to skip a payment and are experiencing financial difficulties will receive a temporary lower annual interest rate of 10.99%, the bank announced in a statement. Covid vaccine-sharing discussions to dominate G7 summit talks Businessman taking travel plan from a tourist agent at a tourist agency counter. iStock Consumer debt driven by new mortgages, but credit card debt at six-year low Related news Facebook LinkedIn Twitter Virtual meetings to continue post-pandemic in B.C. For the 80,000 Canadians that have already received CIBC credit card relief, the temporary lower rate will be retroactively applied to March 15, the company said.“We know Canadians need help now to manage day to day expenses,” Laura Dottori-Attanasio, senior executive vice-president, personal and business banking, said Friday.“By lowering rates, we want to help reduce stress that Canadians are feeling as a result of Covid-19 and provide them with additional flexibility for every day purchases.”Royal Bank said it was cutting credit card interest charges by 50% for personal and small business clients receiving minimum payment deferrals for up to two months.A 50% credit of their interest charges will be applicable upon completion of a financial review with a bank adviser.Clients already receiving minimum payment deferrals will also have interest charges cut in half with the difference in interest credited to their account.“Clients are managing their spending as they adjust to new circumstances and, to help them, we have introduced several relief measures to support them in this very difficult time,” said Neil McLaughlin, head of personal and commercial banking.He said about 80% of clients don’t pay credit card interest or have access to lower interest rate options like lines of credit.“By reducing interest charges for clients who receive credit card minimum payment deferrals, we are now offering additional support during these challenging times.”National Bank said it is reducing the impact of interest charges on credit cards for clients who requested a deferral and who are most affected by this crisis.It will defer minimum monthly payments on National Bank Mastercards by up to 90 days and temporarily reduce the annual interest rate on credit cards to 10.9% for all credit card holders granted a payment deferral.It is also helping with interest charges for those who defer mortgage payments and prioritizing calls starting next week to call centres for seniors 75 plus.“In the past few weeks, we’ve helped tens of thousands of clients by offering them relief measures, payment deferrals and valuable advice and support,” said Lucie Blanchet, executive vice-president, personal banking and client experience.Scotiabank said it is also offering a range of relief measures, including minimum credit card payment deferral for up to three months.However, interest will continue to accrue on outstanding balances and will be payable once the deferral period is over, says a notice on its website.TD announced it would reduce credit card interest rates by 50% for customers facing financial hardship.“Most Canadians pay their credit card on time, but we know that right now some families are facing financial hardship and are in need of some additional relief,” said Teri Currie, group head, personal banking.TD said customers directly affected by Covid-19 who need payment deferrals can apply online regarding mortgage payments, credit card payments, auto loan payments and business banking principal payments.The moves come as the big banks faced calls to lower interest rates on things like credit cards, which generally carry high interest rates compared with other types of borrowing, to help reduce the bills faced by Canadians.The banks announced more than two weeks ago that they would offer mortgage payment deferrals for Canadians who may be struggling due to Covid-19.They have also lowered their prime rates, which are used to set the amount charged for variable-rate mortgages and other variable-interest loans, as the Bank of Canada cut its key interest rate target.last_img read more

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Twitter testing ‘Buy’ button; wants to make m-payments “fun”

first_img Twitter is dipping its toes into online shopping and m-commerce with a small-scale US trial of a Buy button that retailers can embed into tweets.“This is an early step in our building functionality into Twitter to make shopping from mobile devices convenient and easy, hopefully even fun,” posted Tarun Jain, Twitter’s group product manager, in a blog.After tapping the Buy button, users get additional product details and can then enter shipping and payment information, which is directed to the merchant. Payment details can be saved to shorten future payment times.Jain is keen to emphasise that Twitter is a safe place to do business.“We built this test experience with your trust and security at the forefront,” he writes. “Your payment and shipping information is encrypted and safely stored after your first transaction, so you can easily buy on Twitter in the future without having to re-enter all of your information. Of course, you can always remove this information from your account. Your credit card is processed securely and won’t be shared with the seller without your permission.”Twitter is trying out the Buy button with a range of artists (mainly for music downloads), plus retail brands and non-profit organisations. Musicians Ryan Adams and Eminem are among those trying out the new functionality, as are retailers Burberry and The Home Depot.Twitter says more artists and brands will be signing-up “soon”. Indosat-SoftBank JV invests in Indonesian startup Dealoka Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight…More Read more Barclays enables mobile payments through Twitter handles AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 08 SEP 2014 Ken Wieland Author Previous ArticleMobilicity investors take Canadian government to task over competition pledgesNext ArticleWhatsApp can hit 2-3 billion users, says Facebook CEO center_img Money Tags HomeMoneyNews Twitter testing ‘Buy’ button; wants to make m-payments “fun” Dorsey becomes Twitter’s permanent CEO Related FinancialServicesTwitterlast_img read more

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Hampshire: It’s a dive of activity

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Todd: Ferraris just aren’t united

first_imgJean Todt; photo: Michael PottsFIA President and former Ferrari sporting director Jean Todt explained why Sebastian Vettel did not win a Formula One title with the Scuderia. The German arrived in Maranello in 2015 with the idea of ​​repeating the success of his idol Michael Schumacher. However, this did not happen. According to Todd, who was head of the team in the years when Schumacher won, the main reason is the lack of unity today. The Frenchman believes that at the beginning of the century the team was united and cohesive in both good and bad days, and in the last ten years this has not been the case.“The result, good or bad, always has an explanation,” Todd said“Together with Michael – all together – we achieved such great success because we had a very close-knit, strong team and supported each other – more in difficult times than in good days,” he added in an interview with Sky Sports.Todd will probably never forget how Michael said he was leaving if the Frenchman was fired in late 1998, when the Italian media wanted his head.“It’s easy to be together when everything is going well, but the strong sailor is evident in the stormy sea. When we were in a storm, we were all in the boat together, and I think that’s the difference. “According to Todd, despite the separation from Sebastian, he has good options to stay in Formula 1 in 2021. He is only 32 years old and it is too early to give up the sport.“Sebastian Vettel is one of the greatest talents in motorsport,” Todd said. “It is now clear that he will not drive for his current team after 2020, but there are many other possibilities. We can only wish him the best and I really feel that whoever engages him will succeed. Seb is obviously among the drivers who can win races and championships with the right car! Michael won only three races when he arrived (at Ferrari) in 1996 – not because he wasn’t motivated, he just didn’t have the car to allow him to be a world champion. Then we slowly created the car and the team that made success possible. This is always a combination. Take Lewis Hamilton – if he didn’t have a winning car, he wouldn’t be able to be a world champion. We saw this with [Фернандо] Alonso, Vettel and I saw him. That’s the logic. “If you find a spelling mistake, please let us know by highlighting the text and clicking Ctrl + Enterlast_img read more

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Valencia sign Juventus goalkeeper Neto

first_img Upd. at 02:14 Valencia have signed Brazilian goalkeeper Norberto Murara ‘Neto’, from Juventus on a deal which lasts until June 30, 2021. EFE/Sport EN El Valencia firma al portero Neto hasta 2021 CEST 08/07/2017center_img He also said coach Marcelino was “fundamental” in why he decided to join. The 27 year old stopper, 1.93m tall, will have an 80m euro release fee clause in his deal. He arrived in Valencia on Friday morning and closed his deal later in the day.  IN SPORT.ES “I’m grateful to the club and their directors for allowing me to participate and help Valencia, and the effort they made to bring me here,” he explained. “I’m a goalkeeper with speed and technique. The rest I’ll leave up to the fans to draw conclusions.” last_img read more

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Roos dim Gulls’ finals hopes

first_imgBy David Nagel The same five teams will play finals for the third consecutive year after Officer ended Tooradin’s dreams…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img

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Vision for the future

first_imgThe state’s only school for blind and vision impaired people will officially open next Friday in Berwick. The ribbon cutting…[To read the rest of this story Subscribe or Login to the Gazette Access Pass] Thanks for reading the Pakenham Berwick Gazette. Subscribe or Login to read the rest of this content with the Gazette Digital Access Pass subscription.last_img

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Galway Hurling Team V Dublin Announced

first_imgInto the team come Paul Killeen at corner back, Sean Loftus at midfield, Niall Burke and Jason Flynn. print WhatsApp Facebook Twitter Email There are 4 Changes on the Galway Senior Hurling for the Clash with Dublin on Saturday evening in Pearse Stadium. Out go Johnny Glynn, who has a hamstring, Joe Canning, Adrian Tuohy and Johnny Coen, though Canning and Coen are on the bench.center_img Killeen’s last start was against the Dubs in the 2017 championship opener (in which he got a Cruciate injury), while Loftus starts a championship game for the first time. Niall Burke and Jason Flynn have been impressing when coming on in the last number of games.Game is live on Galway Bay FM at 7.00pm1 James Skehill2 Paul Killeen3 Daithi Burke4 Aidan Harte5 Padraic Mannion6 Gearoid McInerney7 John Hanbury8 Sean Loftus9 David Burke (Capt.)10 Joseph Cooney11 Niall Burke12 Cathal Mannion13 Conor Whelan14 Conor Cooney15 Jason Flynnlast_img read more

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Galway and Mayo ladies set to decide Connacht title in Limerick

first_imgprint WhatsApp Facebook Twitter Email The somewhat unusual setting of the Gaelic Grounds in Limerick will provide the backdrop to the latest chapter in the Galway/Mayo ladies football rivalry when both sides line out tomorrow in the Connacht Final replay at 4pm, ahead of the men’s round 4 qualifier at 7pm. The sides drew a fortnight ago in Castlebar after Mayo scored 3 second half goals to stun Galway and set up a replay at 4pm tomorrow. Tommy Devane spoke to Galway manager Timmy Rabbit ahead of the game…last_img read more

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Don’t underrate the Confed Cup

first_imgDanny JordaanFind out more about using MediaClubSouthAfrica.com materialI wish to disagree with those who believe that the Fifa Confederations Cup, scheduled to kick off on 14 June 2009, is not a serious tournament.While I can understand that some people are making a comparison between it and the 2010 Fifa World Cup, the 2009 Confederations Cup is absolutely crucial for South Africa. It is, after all, the official dress rehearsal for the Fifa World Cup next year, and in so many respects it will set the tone for the global showpiece. In a nutshell, it will test our preparedness and provide valuable pointers in so many areas on the road ahead.Crucially, it will usher in a vital new culture of football in our country in which we play host to some of the world’s top soccer nations – their teams, officials, supporters and media – while imparting to our own communities the special significance of their respective roles in playing, administrating, supporting and reporting on the beautiful game.It is not difficult to understand, therefore, the great importance we attach to it, because positive outcomes in the execution of the Fifa Confederations Cup imperatives will instil an immense sense of confidence, both here and abroad, in respect of our progress in putting on the best Fifa World Cup of them all.In order to do that, however, we must stage the best Fifa Confederations Cup of them all.And to coin a famous phrase of another soccer-lover, “Yes we can!”It is good for us to remember that President Barack Obama, who successfully campaigned on those inspirational words for the United States presidency, will be watching the Fifa Confederations Cup with intense interest. His national team is one of the eight competing nations in South Africa next month and the way the tournament is portrayed in the US will be critically examined and projected around the world.Indeed, the mere fact that this is a tournament involving all six Fifa’s football confederations, as well as the holders of the World Cup and hosts, South Africa, means that the message it sends out will reach right across the globe and be consumed by all those football nations who will ultimately play in next year’s Fifa World Cup.The best marketing brains like to use the phrase “advertising you cannot buy” – and that’s exactly the promise the Fifa Confederations Cup holds for South Africa.Permit me to use an example from another sport. Cricket South Africa recently agreed at the shortest notice to stage the Indian Premier League (IPL) – eight teams representing the best players in the world in an event of 59 back-to-back matches.By all accounts, it was an extraordinary success – providing advertising that South Africa just could not buy.The IPL in South Africa was not just good for cricket but it did wonders in enhancing South Africa’s credibility as a preferred destination to host blue riband global events of any nature. Apart from the acclaim for it from abroad, the IPL extravaganza re-instilled confidence in all South Africans in respect of our capability to stage and enjoy a great sporting experience – and to extend the red carpet of hospitality to any and every nation.This then is the promise of the Fifa Confederations Cup in which we have the honour to welcome the top footballers from Italy, Brazil, Spain, Egypt, the United States, Iraq and New Zealand.By ensuring their comfort, security and enjoyment, we do not just embrace them – we embrace the world.For South African soccer followers, there is the rare opportunity moreover of seeing many of the world’s great teams and players in action at our home grounds – a year ahead of the Fifa World Cup itself.This is a gilt-edged opportunity, too, for our own team, Bafana Bafana, to play in this exalted company, test themselves against the best, and for us to cheer them on. What better opportunity can there be for them, for us?Yes, the Fifa Confederations Cup is not as important as the Fifa World Cup – because nothing in world sport surpasses that marquee attraction – but it is the next best thing by far in the Fifa firmament.There is a misconception that next month’s tournament cannot provide a true measure of our preparedness for the “main event” because the host cities and venues that will stage the matches of the Fifa Confederations Cup 2009 do not include all those for the Fifa World Cup 2010.This is simply not so because those Fifa World Cup host cities and stadiums that do not form part of the Fifa Confederations Cup programme are all preparing on one and the same template and will thus enjoy the rare opportunity to closely monitor next month’s operational plan to ensure that they, too, are on track ahead of 2010.Also all those people working on the Fifa Confederations Cup – think of the thousands of volunteers – will take their hard-earned experience into 2010.And all those South African soccer-lovers who just cannot wait to revel in the once-in-a-lifetime experience of 2010 now have the privilege to raise the roof early in 2009Is next month’s tournament an important one for all of us? You bet it is.Dr Danny Jordaan is chief executive officer of the 2010 Fifa World Cup Organising Committee South Africa.last_img read more

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