Canadian Tire Financial Services

Canadian Tire Financial Services: Overview

Canadian Tire Financial Services operates under the business name of Canadian Tire Bank. Established in 2003 under the Bank Act, Canadian Tire Bank (CTB) assumed responsibility for financial services previously offered by CTFS. Alongside its MasterCard credit card services, Canadian Tire Bank has introduced a range of financial products including Deposit Accounts with high-interest savings accounts, tax-free savings accounts, and Guaranteed Investment Certificate (GIC) offerings, and Creditor Insurance (Life Coverage, Total Disability Coverage, Involuntary Unemployment Coverage).

Canadian Tire Financial Services products’ pros and cons

Pros:

• Accessibility: Canadian Tire Financial Services Insurance is readily available to Canadian customers who are already engaged with Canadian Tire Bank or its affiliated services, providing convenience and accessibility.

Cons:

• Limited selection of insurance products: Canadian Tire does not offer an extensive list of Life Insurance and Living Benefits insurance products.