Money Talks: Frequently Asked Questions

What is phishing?

Phishing is a scam that uses email, phone calls, or text messages to steal your personal information. Often the scam involves a dishonest person pretending to work for a bank contacting a customer.

Different options for financial support?

If you are looking for further support, there are many different options. You can find financial support at a bank, on online resources such as this one, at a library, and by talking to people you trust. Remember, not everyone is an expert with money, and it is always best to go to educated professionals for financial advice.

How can I improve my credit score?

Paying your bills on time and having low (or no) debt is the easiest way to improve your credit score. Increasing your credit limit is another way to increase your score.

Are there benefits to owning a stock?

When someone owns a stock, it represents a part ownership in a company. There are many benefits to owning a stock, If the firm is doing well this could translate into returns for you when you sell, or annual payouts from the company, called dividends.

Do all stocks payout dividends?

No, companies are not required to make dividend payments. When a company pays part of it’s earnings out to stockholders, this payment is called a dividend payment. 

What is emotional spending?

Emotional spending is when someone spends money because they are feeling heightened emotions. This could mean spending money to make you feel better when your sad, or because you are extremely happy.

Is there a difference between a withdrawal and a deposit?

Withdrawing money is what it is called when you take money out of your bank account. You can either take money out as cash, or withdraw money and deposit it into another account.

When you add money into your bank account you are depositing the money into your account. 

What does APR mean?

APR stands for Annual Percentage Rate. Often when money earns interest, it is expressed as a percent. This percentage is called the Annual Percentage Rate (APR), and is the amount of interest that will be earned annually, over the entire year. If you carry a balance on a accredit card for a full year you will pay the Annual Percentage Rate fee.

Why is cash the same as money in my bank account?

Yes, cash is paper money that can be used to purchase things. It is officially recognized by the government as legal tender. The money in your account is worth the same amount, the only difference is how you access the money. However, money in bank accounts can often earn small amounts of interest, which can be a benefit of depositing your cash into your account.

Where do I go to get an accommodation?

An accommodation is something done to eliminate a barrier for those with diverse abilities. These adjustments are done on an as needed basis, in order to make a service as accessible as possible. You can reach out to customer service representatives at your bank to express your different accommodation needs and begin the process of setting them up.

Are there different accommodations are available?

Everyone’s abilities are unique. There are many different types of accommodations available, and you should be sure to discuss your personal accommodation needs with a customer service representative, to get the best type for you. Different types of accommodations are available for different types of disabilities. Some types of accommodations:

  • Braille or large print card sleeves to help with identification
  • Audio-access ATMs
  • Interpreters and captioning
  • Use of plain language
  • Mental health training for employees


How do I make a relay call?

A relay call or relay message is a service that enables people with a hearing or speech disability to make or receive telephone calls. With the use of a cell phone, a relay operator will use text messages to facilitate a phone call. This is done by communicating with a person with hearing or speech disabilities over text, and with the other party via text. In Canada, you can utilize either a Teletypewriter (TTY) and dial 7-1-1, or an Internet Protocol (IP) relay service, which is offered through all telephone and internet operators in Canada.

Do I have to pay my bills every month?

Yes! Utility payments, and at least minimum credit card payments must be made each month. This is to keep your account in good standing.  If you are going to miss a payment, contact the organization as soon as possible, as they may be able to assist you with keeping your account in good standing.

Is it good to be in an overdraft?

Overdraft is what happens when your account has a negative amount of money in it. Some bank accounts offer overdraft protection, for a small fee. Usually your account must have a positive balance for at least one full day in a specified time period. If your bank is in overdraft or longer than the specified time period there could potentially be additional fees, and you may be contacted by your bank.