Search found 2972 matches

by Pickles
12 Jan 2024 19:30
Forum: Under the Mattress: Protecting Your Money
Topic: Bad Customer Service
Replies: 407
Views: 49635

Re: Bad Customer Service

Never, never would Amazon will call you regarding financial matters of any type. Their advice, through their website, simply hang up. This mention has repeated again and again over the last few years. Hang up, immediately.
by Pickles
17 Dec 2023 10:01
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2023)
Replies: 1056
Views: 87817

Re: High interest savings, GICs and MMFs (2023)

Oaken announced lower rates:

"Please note that effective Thursday, December 21st, 2023, we will be decreasing the interest rate for Oaken long-term GICs as noted below:
Long-term GICs:

1 Year GIC – 5.40% (currently 5.75%)
18 Month GIC – 5.35% (currently 5.65%)
2 Year GIC – 5.20% (currently 5.60%)
3 Year GIC – 5.00% (currently 5.40%)
4 Year GIC – 4.90% (currently 5.15%)
5 Year GIC – 4.85% (currently 5.15%) "

Also, Oaken has advised that the website will be out of service today until Monday morning.

Still a couple of days after Monday to take advantage of the current rates.
by Pickles
13 Nov 2023 17:17
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2023)
Replies: 1056
Views: 87817

Re: High interest savings, GICs and MMFs (2023)

I can see BMOIL's list of GICs, labelled with Monday's date, but I couldn't buy any GIC -- neither from BMOIL nor from other financial institutions.
Anyone with better luck?
by Pickles
27 Sep 2023 12:45
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: BMO Investorline
Replies: 1278
Views: 198090

Re: BMO Investorline

I got in to the GIC rates at noon.
by Pickles
26 Jun 2023 08:58
Forum: Taxing Situations
Topic: H&R Block Instant Refunds
Replies: 8
Views: 1273

Re: H&R Block Instant Refunds

Back in the 70s, my bank (BMO) offered a similar loan for a cheaper cost. I'd show my Income Tax return and the bank granted a "demand loan". I'd get the cash immediately at a stated percentage cost. Since I prepared my own return,,I did not incur the cost HR Block. The bank was a better deal. It also was my tentative step into building a credit rating. Paying off my student loan was the next step.
by Pickles
14 Jun 2023 15:47
Forum: Community Centre
Topic: A Final Financial Thread [from Shakespeare]
Replies: 70
Views: 6641

Re: A Final Financial Thread [from Shakespeare]

Shakespeare wrote: 14 Jun 2023 15:40 TX, pickles. The Australian cousin has passed on.

A correction: the wiki was Mike's idea.
Oops, my mistake. I guess I should be more finicky before I post.....
by Pickles
14 Jun 2023 15:35
Forum: Community Centre
Topic: A Final Financial Thread [from Shakespeare]
Replies: 70
Views: 6641

Re: A Final Financial Thread [from Shakespeare]

Keith/Shakespeare, I am so sorry to hear the news of your changing health. You are one of the first members I encountered who answered my questions and shared financial knowledge in clear English. Very soon, I began to ALWAYS read ALL your posts,even the jokes passed on from your Australian relatives. The next year, the founders of FWF decided to set up a new structure of administration for the forum. You supported me to become one of the new Regents (owners). When I offered to give the forum a new look and to reorganize the topics on the forum, you encouraged and supported my ideas and work. A wiki for the FWF was your next idea but I had to decline -- a wiki is not for me. Kudos to several other members who built and manage it. And you ga...
by Pickles
27 Apr 2023 23:49
Forum: Community Centre
Topic: RIP 2023
Replies: 99
Views: 10541

Re: RIP 2023

Peculiar_Investor wrote: 22 Apr 2023 09:30 Dame Edna has passed.
Passed with honours, indeed. I had the delight of her presence and acerbic wit twice. I even caught one of the glads thrown into the audience where brave patrons sat in the first 3 rows. Brilliant.
by Pickles
26 Dec 2022 16:31
Forum: Community Centre
Topic: Merry Christmas!
Replies: 32
Views: 1959

Re: Merry Christmas!

Christmas? No visits with family but my partner and I hosted a Christmas dinner for similar refugees from the storm. I got the leftovers; there goes New Year's Resolutions!
Hope all FWFers have a great 2023. Good luck!
by Pickles
21 Dec 2022 11:07
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2022) - rates
Replies: 1006
Views: 95639

Re: High interest savings, GICs and MMFs (2022) - rates

I don't think it is the FIs with the wisdom. It is the bond market. I think consumers are not signing up for long(er) term mortgages (new or renewal) and the FIs simply don't have a place to lend 5 year money, or if they do, borrowers are demanding lower rates. Just like the 5 year bond yield is down, so are 5 year interest rates on everything else. It is simply good risk management on the FIs part. Why look really stupid in 2025-2027 paying way more than necessary for a 5 year GIC than what one is getting in their loan book, or way more than your competition? That is the stuff that (should) get CEOs fired. In Oaken's situation, perhaps its suitor, Smith Financial is putting a little pressure on Oaken and doesn't want "to look really ...
by Pickles
10 Dec 2022 02:09
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: BMO Investorline
Replies: 1278
Views: 198090

Re: BMO Investorline

the new platform goes into official swing in January. Their whiz kids still haven't how to migrate Bonds/GICs/ rates and a few other important pages into the new format (eg, all our e-documents... . So, until everything can be moved to the new system, we may still have access to the older one by hitting a "Legacy" button after you've logged in.
by Pickles
10 Dec 2022 01:58
Forum: Financial Planning and Building Portfolios
Topic: CDIC Coverage question - deceased GIC holder
Replies: 24
Views: 1509

Re: CDIC Coverage question - deceased GIC holder

"The GIC is now in Mary's name" Nope the GIC is in Joe & Mary's names, (IN MY question to CDIC) Joe, the poor guy, just happens to be dead. How the heck could the CDIC know Joe has died but his name in still on the GIC? And why would CDIC would give out this information to a stranger? In the scenario the OP presented: Joe and Mary had a joint GIC; both names were on the GIC. Joe died. The OP then said - and I quote his words: "The GIC is now in Mary's name" (i.e. and not Joe's name) The BMO, like other issuers, must either a) cash out the GIC for the survivor (not likely with 2 more years to maturity) or b) reissue the GIC with Mary's name as sole owner. I had joint ownership of several GICs with my father. When he ...
by Pickles
09 Dec 2022 16:02
Forum: Financial Planning and Building Portfolios
Topic: CDIC Coverage question - deceased GIC holder
Replies: 24
Views: 1509

Re: CDIC Coverage question - deceased GIC holder

"The GIC is now in Mary's name".There's the answer. When Joe died, Mary became sole holder of the GIC and CDIC provides her coverage for this GIC, to a maximum of $100,000. (but not the interest which is beyond the max CDIC offers for a single GIC). She has $100,000 coverage for an RRSP account or certificate, as probably has a savings account, an RRSP, account, another joint GIC/account etc. , all are insured by CDIC, each capped at $100,000. CDIC has a short explanation and graphic showing how to maximize the insurance for your deposits. Definitely worth a read: https://www.cdic.ca/your-coverage/prote ... r-deposit/
by Pickles
08 Dec 2022 11:44
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2022) - rates
Replies: 1006
Views: 95639

Re: High interest savings, GICs and MMFs (2022) - rates

I opened two RRIFs last month to hold the RRSP GICs at Home Bank and Home Trust, under Oaken's umbrella. All the certificates mature beyond 2022 and I have to RRIF at the end of this year (yup. I turned 71 this past year). Both RRIFs are covered by CDIC. Oaken provided friendly customer service and great rates from its inception (I had Home Trust GICs a decade before) and I am sorry the new company is taking over. Oaken tracked GICs, RRSPs and RRIFs for us. When GIC rates go up, Oaken re-issues GIC/RRSPs with the new rate. I doubt Smith Financial will that! And yes, chocolate in December and presents every time I go there. Sigh. I had a 5-yr GIC with Ally when RBC bought them. That GIC continued to pay the contracted rate of interest until...
by Pickles
07 Dec 2022 15:01
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2022) - rates
Replies: 1006
Views: 95639

Re: High interest savings, GICs and MMFs (2022) - rates

I opened two RRIFs last month to hold the RRSP GICs at Home Bank and Home Trust, under Oaken's umbrella. All the certificates mature beyond 2022 and I have to RRIF at the end of this year (yup. I turned 71 this past year). Both RRIFs are covered by CDIC.

Oaken provided friendly customer service and great rates from its inception (I had Home Trust GICs a decade before) and I am sorry the new company is taking over. Oaken tracked GICs, RRSPs and RRIFs for us. When GIC rates go up, Oaken re-issues GIC/RRSPs with the new rate. I doubt Smith Financial will that! And yes, chocolate in December and presents every time I go there. Sigh.
by Pickles
23 Nov 2022 10:57
Forum: Taxing Situations
Topic: UFile 2022
Replies: 18
Views: 2395

Re: UFile 2022

Peculiar_Investor wrote: 23 Nov 2022 09:25 Like clockwork, UFile | Tax Software for Canadians 2022 version is available for purchase. They are indicating "Save up to $8 until December 12, 2022".


Added:
Bobcat wrote: 24 Nov 2021 22:14 The $5 off code UFAB89FADQ that hamor posted last year for 2020 also works for UFile 4 for Windows - 2021. Total cost is $16.79.
I checked and I didn't see any place to add a code during checkout. Am I missing something?
Perhaps the code doesn't work because this Ufile is for 2022 tax year, not 2021 or 2020?
by Pickles
30 Oct 2022 08:46
Forum: Financial Planning and Building Portfolios
Topic: Starting a GIC ladder
Replies: 62
Views: 5170

Re: Starting a GIC ladder

Tangerine certainly has good rates right now. However Tangerine's GIC rates are only sporadically competitive so you will probably have to move some of these GICs, on maturity, to other institutions. Keeping track of the rungs of a GIC ladder can be like herding kittens once they are invested in other institutions. I have a self-directed account with BMOIL which offers GICs of several other institutions, which makes easy transfers from a maturing GIC from one institution to another with a single, simple transaction. Also, you may consider an account with https://www.fiscalagents.com/ which also offers an array of GICs, RRSPs, etc.
by Pickles
24 Oct 2022 13:24
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2022) - rates
Replies: 1006
Views: 95639

Re: High interest savings, GICs and MMFs (2022) - rates

Tangerine's new GIC rates:

1 yr 4.85%
1.5yr 5.00%
2 yr 4.7%
3 yr 5.1%
4 yr 4.8%
5 yr 5.2%

Rather odd jumble of rates but the highest I've seen -- so far today....
by Pickles
07 Oct 2022 10:09
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2022) - rates
Replies: 1006
Views: 95639

Re: High interest savings, GICs and MMFs (2022) - rates

nile wrote: 07 Oct 2022 08:02
Bylo Selhi wrote: 07 Oct 2022 07:28
nile wrote: 06 Oct 2022 14:43 Can't get the 26 out either as has to be at least a full
dollar.
Transfer $10 in. Then transfer $10.26 out.

I didn't get the 4.3% offer either. Time to give them a call and see what they can offer.
If I won’t bend down to pick up a quarter I’m not sure I will do the work to transfer $10 :rofl:
You've already spent more time posting your complaint and posting again to reject the solution Bylo offered. :roll:
by Pickles
17 Sep 2022 10:06
Forum: Under the Mattress: Protecting Your Money
Topic: Transferring from peoples trust to hubert
Replies: 7
Views: 646

Re: Transferring from peoples trust to hubert

To answer your question: tYou said you "tried" to open an account. Did you open a regular savings account or a TFSA? Hubert may require you to first open a high interest savings account linked to your home bank account, if you haven't yet done this.

Why do you think the TFSA account number at Peoples is wrong? If Hubert has told you the People's account number is wrong, provide the correct one.

When you have set up a Hubert TFSA, request Hubert to transfer the money from your Peoples' TFSA account to your new Hubert TFSA account.
Hubert will handle the transfer and files relevant info to CRA after you have completed all the steps required.
by Pickles
14 Sep 2022 17:59
Forum: Under the Mattress: Protecting Your Money
Topic: High interest savings, GICs and MMFs (2022) - rates
Replies: 1006
Views: 95639

Re: High interest savings, GICs and MMFs (2022) - rates

StuBee wrote: 14 Sep 2022 16:38 NBC200 (the f-series version) has moved up by 60 bps to... 3%!! NBC100 (a-series) is at 2.85%.

Meanwhile Tangerine is sitting at a measly 1% :(.
I got a Tangerine deal offered to me in the spring: 2.85% rate until August 31st. In mid-August I was offered a better deal (sent by email): a savings account rate of 3.5% from Sept 1 to Dec 31st! If you actually want to place a substantial amount in a cash account, give them a call.
by Pickles
09 Sep 2022 10:53
Forum: Under the Mattress: Protecting Your Money
Topic: Bankers Acceptance [BA] vs ISA?
Replies: 4
Views: 753

Re: Bankers Acceptance [BA] vs ISA?

adrian2 wrote: 07 Sep 2022 20:59 Or buy a GIC, e.g. at Tangerine
180 Day Guaranteed Investment 3.50%
270 Day Guaranteed Investment 3.60%
Maybe split it 50/50?

In a few days, rates may (or may not) be higher.
Tangerine lowered rates for 180 day GICs from 4% to 3.5% (and 1 yr GICs from 4.5% to 4.4%) just before the most recent increase declared by the Bank of Canada :roll: . Tangerine has offered a new promo two weeks ago: My savings account rate will be 3.5% until the end of the year. I'm happy with that, given the flexibility to move it elsewhere if desired.
by Pickles
28 Aug 2022 15:35
Forum: Under the Mattress: Protecting Your Money
Topic: GIC maturing ... reinvest now or wait till September hike?
Replies: 9
Views: 1151

Re: GIC maturing ... reinvest now or wait till September hike?

I had a large amount of cash in Tangerine ,in excess of CDIC max at 2.8% and knew I should sock some away and earn money. I opened a TSFA with tangerine and since I couldn't decide between cash, short-term deposit or GIC., I did it all: $25,000 for 180 days @4%,, a 1 yr GIC for $25,000 at 4.5% and $10 for cash (a cash account to transfer the maturing GICs while keeping the GIC interest non-taxable.) I've now a tangerine another promo for : my cash account rate: 3.5% annual rate, guaranteed until December 31st ( but not theTFSA cash account) . To the OP, Don't put all your eggs in one basket (one institution, one GIC or cash offer).; don't dither (earning low interest while waiting for the big one is very unwise); consider taxation and CDIC ...
by Pickles
07 Aug 2022 14:37
Forum: Property: Owning, Renting, Managing, Investing and Mortgaging
Topic: When to sell house?
Replies: 28
Views: 4005

Re: When to sell house?

You should consider the extra costs incurred by a house left vacant. Here are the monthly costs you were pay out until you sell the house: Property taxes, generally billed monthly Monthly costs for these utilities will be substantial, unless you shut down completely disconnect power, gas, and water and cable/phone connections. Selling the house minimizes these costs to you If you shut down all utilities, the home will look vacant and undesirable when you finally agree to sell the place Home insurance will increase premiums cost and conditions, especially if the house is vacant. You may required to maintain insurance by having someone check the house regularly, sometimes daily Listing to find out what the market now is a prudent and wise dec...