Search found 2273 matches

by gsp_
13 Dec 2023 20:58
Forum: Under the Mattress: Protecting Your Money
Topic: Bribes from Discount Brokers
Replies: 301
Views: 24262

Re: Bribes from Discount Brokers

Did anyone find out what the rate is for cash in US accounts? Supposingly in the fine print not shown on the WS website if you get the Iphone offer only one person gets the referral bonus not both. You get the iPhone offer but not the cash. Not stackable according to our Rep. When we signed in on a iPad and Iphone we have no referral code generated on either account anyone else have this issue? Don’t think there is a USD Cash account. In brokerage accounts you get no interest on cash so you need to buy HISA ETFs to earn interest on your cash. In CAD unregistered accounts you can just move the cash to the Cash account but in registered account that would involve deregistration so ETFs are the only HISA option. I’ve heard of reps now saying ...
by gsp_
06 Dec 2023 07:02
Forum: Under the Mattress: Protecting Your Money
Topic: WealthSimple Cash
Replies: 38
Views: 2836

Re: WealthSimple Cash

Yes, using WS Cash. Mostly just using their Cash card for no fee, no fx surcharge foreign ATM withdrawals. It’s a prepaid using the MC network that pays 1% on all purchases. Haven’t used it as a chequing account.

Contrary to the experience posted above, I found the WS transfer process by far the easiest of anything I’ve experienced with any other broker.
by gsp_
06 Dec 2023 06:47
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: WealthSimple Trade
Replies: 73
Views: 10307

Re: WealthSimple Trade

From Wealthsimple: Can this Promotion be combined with other sign up bonuses? No, as a general rule, this promotion cannot be used in addition to any other sign-up bonus, including other promotional offers for signing up for Wealthsimple. There has been much discussion about this at RFD. WS reps have said the iPhone offer is not considered a "sign-up bonus" because it is also available to existing clients. Don't care about the iphone, only the 0.5% cash offer. Doesn't appear you can double dip the cashback. Sorry for late reply, been traveling. Neither the iPhone deal or the cash bonus are sign up offers, both are available to existing customers. Therefore the referral program is on top of these promotions so long as the referree...
by gsp_
30 Nov 2023 05:27
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: WealthSimple Trade
Replies: 73
Views: 10307

Re: WealthSimple Trade

Wealthsimple has a boosted referral program at the moment for Premium(100k) and above referrers:

$250 each if the referree deposits/transfers 100k+.
$1000 each if the referree deposits/transfers 500k+.

This can be combined with the iPhone or % based promos currently running. :D Looks like referral code can even be entered retroactively within 30 days of account opening. All you need is a Premium level friend’s referral code. :wink:
by gsp_
30 Nov 2023 05:26
Forum: Under the Mattress: Protecting Your Money
Topic: Bribes from Discount Brokers
Replies: 301
Views: 24262

Re: Bribes from Discount Brokers

Wealthsimple has a boosted referral program at the moment for Premium(100k) and above referrers:

$250 each if the referree deposits/transfers 100k+.
$1000 each if the referree deposits/transfers 500k+.

This can be combined with the iPhone or % based promos currently running. :D Looks like referral code can even be entered retroactively within 30 days of account opening. All you need is a Premium level friend’s referral code. :thumbsup:
by gsp_
30 Apr 2023 14:21
Forum: Under the Mattress: Protecting Your Money
Topic: Travel - financial management
Replies: 49
Views: 4324

Re: Travel - financial management

I suspect, but not proven, that taking a cash advance on a CC also used for purchases, even if paid off immediately, would expose all those purchases to interest charges. I’ve never had an issue when mixing both but it does require more monitoring. I can’t speak to all no FTF cards but I’ve never had the issue you mention on any of my cards. Wasn’t a problem on Chase Amazon, Scotia Passport VI and the HSBC WE/Jade. I can confirm that on a Jade MC with purchases on it, on which a cash advance is made and on which a prior or same day payment is made covering not only the cash withdrawal but all previous purchases (bringing the balance into positive territory), no interest is charged. I have several recent data points. I also have a data poin...
by gsp_
30 Apr 2023 13:30
Forum: Under the Mattress: Protecting Your Money
Topic: Travel - financial management
Replies: 49
Views: 4324

Re: Travel - financial management

The way to avoid all these fees is to use foreign banks’ ATMs. After the horrible experience above, did some research and found out Deutsche bank doesn’t charge any fees. Subsequent cash withdrawals were at the MC rate with no fee whatsoever(using HSBC Jade CC as a QC resident). interested to know if there was cash advance fee after you used your HSBC credit card to withdraw cash? Or you overpaid the credit card to have a credit? Cash advance fees are not allowed in QC which is why I mentioned residence above. That being said I told family member with supplementary card on my account to let me know when doing any cash withdrawal so I could bring the account above water on the same day by making a bill payment. Although it takes a few days ...
by gsp_
30 Apr 2023 01:05
Forum: Under the Mattress: Protecting Your Money
Topic: Travel - financial management
Replies: 49
Views: 4324

Re: Travel - financial management

pmj wrote: 29 Apr 2023 19:45
gsp_ wrote: 29 Apr 2023 17:37
Family member is aware to always choose CAD$ if offered the choice.
Don't select C$.
If you select C$, you get the fees and the rate of the ATM operator. Not likely to be in your favour.
If you select local currency, the conversion will be made by your bank. Might be no FX fee, but unlikely to be more than 2.5% on a typical Canadian account. And you should get typical close-to-mid-rate for the exchange rate.
:oops: Sorry for the error, meant to say always choose local currency. Edited my post, thanks for pointing it out.
by gsp_
29 Apr 2023 17:37
Forum: Under the Mattress: Protecting Your Money
Topic: Travel - financial management
Replies: 49
Views: 4324

Re: Travel - financial management

I've also met ATMs in Europe offering to bill you in C$ (AKA make the exchange for you at the ATM's own usurious rate). Just like at point-of-sale terminals, you should be able to select local-currency billing so that at least the FX rate is under your control. Family member is aware to always choose CAD$ local currency if offered the choice. I can’t say for certain as I wasn’t there but my guess is Euronet machines don’t give you a choice, there may be a notice provided in a language that is not the one associated with your card. Never paid any mind to ATM machines but since this incident I noticed a bunch of these yellow machines in high traffic tourist areas. Surprised European regulators allow this type of garbage on their territory.
by gsp_
29 Apr 2023 11:26
Forum: Under the Mattress: Protecting Your Money
Topic: Travel - financial management
Replies: 49
Views: 4324

Re: Travel - financial management

In the UK bank operated ATMs vend cash without any ATM fees. IIRC that's also true in Ireland. No idea about Spain. ATMs in EU have to disclose the fees if they charge them. Too late for the OP but I have some recent experience that could help on future trips. All Spanish banks charge fees for ATM withdrawals to foreign cards, apparently the amount varies from €0.5 to €6 but never experienced anything below €6. My relative was charged €6 on his first withdrawal. I advised looking around for a lower/no fee next time but after checking half a dozen or so ATMs he got tired and got screwed even more by withdrawing from a Euronet ATM. A €100 withdrawal that should have cost just under $145 was charged over $169! Turns out these thieves not only...
by gsp_
09 Jan 2023 21:06
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: XIC, VCE or HXT for passive Canadian exposure
Replies: 15
Views: 2253

Re: XIC, VCE or HXT for passive Canadian exposure

Marcus Aurelius wrote: 09 Jan 2023 20:45 I think VCE is a smaller index than XIC. VCN would be closer to XIC in coverage. BMO's version ZCN is the same index as XIC.
Yes and similarly the comparable Horizons product is HXCN.
by gsp_
09 Jan 2023 19:03
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: BMO Investorline
Replies: 1278
Views: 198071

Re: BMO Investorline

Foxtrot wrote: 09 Jan 2023 18:57 Has anyone come across any issues with some December distributions not being paid out? I have a hunch it has something to do with DRIPs.

For example, I have XAW in both nonregistered and TFSA accounts, and was paid out in the nonregistered account on Jan.5.
It's set up for DRIP in the TFSAs but no distributions or reinvestment showing in transactions.

I will have to call tomorrow. Just wanted to check if anyone else having the same problem.
Same with XEF DRIP at TDDI. Wouldn’t call this a problem, just a typical delay on DRIPs.
by gsp_
07 Jan 2023 21:15
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: TD Direct Investing (was Waterhouse) Service
Replies: 3927
Views: 433327

Re: TD Direct Investing (was Waterhouse) Service

lacrosse905 wrote: 07 Jan 2023 09:40 Sold a stock yesterday and was transferring funds, and it indicated that I would have to call TD to do this. Do they hold funds from a sale until settlement. Haven't experienced this before.
Funds will be available on Tuesday(T+2).
by gsp_
28 Dec 2022 18:24
Forum: Taxing Situations
Topic: Vanguard Asset Allocation ETFs and Taxes
Replies: 19
Views: 1597

Re: Vanguard Asset Allocation ETFs and Taxes

:thumbsup:

Seems to be the case for several(all?) 2021 distributions. Good job Vanguard. :roll:
by gsp_
28 Dec 2022 17:16
Forum: Taxing Situations
Topic: Vanguard Asset Allocation ETFs and Taxes
Replies: 19
Views: 1597

Re: Vanguard Asset Allocation ETFs and Taxes

AltaRed wrote: 28 Dec 2022 13:11 Near the bottom of this you will see Annual Distributions for 2021 including income breakdown.
I must be missing something, the different columns don’t add up to the stated distribution. There is roughly $0.50 per unit distribution that is unaccounted for.

Image
Image

BTW this “new" VG website is an unmitigated disaster on mobile devices. Page is constantly jumping around, scrolling up/down is a chore. Brutal user experience.
by gsp_
26 Dec 2022 18:56
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Brokerage perks (Premium Edge, 5 Star, Jade, Investor Plus, etc.)
Replies: 78
Views: 5127

Re: Brokerage perks (Premium Edge, 5 Star, Jade, Investor Plus, etc.)

Have you asked? I too have a TDDI RM as well as an AI account, etc. I know I'm eligible for free L2 streaming. I don't care since my trading activity is trivial. But I've never asked and it's never been offered. So maybe we need to poke around to see what's on the buffet table (or on the hidden menu.) Have not asked for a bank RM. If I knew others with similar asset levels were getting a benefit of interest to me then I would but other than SQRT I don’t know anyone who has that benefit and I suspect there are valid reasons for the differentiation of services offered. A while back upon reading the TDW thread here I realized several posters were getting level II streaming quotes with Globe Investor Gold at the $1M level. I wouldn’t have know...
by gsp_
26 Dec 2022 17:53
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Brokerage perks (Premium Edge, 5 Star, Jade, Investor Plus, etc.)
Replies: 78
Views: 5127

Re: Brokerage perks (Premium Edge, 5 Star, Jade, Investor Plus, etc.)

Unwise wrote: 03 Oct 2022 15:16 I didn't realize BMO didn't offer that with their 5 star packages. That is kind of surprising. I know HSBC Jade offers it (and actually gives you free Premier accounts and credit cards in other countries as well without having to have minimums in those countries).
They list “BMO Private Banking benefits” at the $2M and $5M levels. Not sure if that means a full PB fee waiver or something else, best to confirm with them.
https://www.bmo.com/main/personal/inves ... p-program/
by gsp_
26 Dec 2022 17:45
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Brokerage perks (Premium Edge, 5 Star, Jade, Investor Plus, etc.)
Replies: 78
Views: 5127

Re: Brokerage perks (Premium Edge, 5 Star, Jade, Investor Plus, etc.)

Bigger issue is the benefits suck. $5M for the privilege of paying $5 a trade when National Bank and Desjardins both offer commission free trading without any balance requirement? Laughable. Agreed the benefits are lackluster considering the relationship level. They should at the very least waive minimums for their Ultimate Banking Package as part of this - similar to what HSBC and CIBC do with $100K in investments, National Bank does with $250K in investments, and what TD does with some mysterious level perhaps closer to the $5M. At $5M level they probably need to give free private banking or some other perks to gain any market share. IME Scotiabank is annoying to deal with. Beyond my own anecdotal experience their rep is quite poor. Requ...
by gsp_
26 Dec 2022 13:41
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Brokerage perks (Premium Edge, 5 Star, Jade, Investor Plus, etc.)
Replies: 78
Views: 5127

Re: Brokerage perks (Premium Edge, 5 Star, Jade, Investor Plus, etc.)

AltaRed wrote: 25 Dec 2022 23:07 It depends. Five trades per year on a 7 digit portfolio is next to nothing. The FMV of the portfolio will move more than that in one minute of a trading day.
If only making five trades per year the investor is saving all of $25 a year for moving $5M to iTrade vs their regular $9.99 commission. Anyway you slice it it’s a terrible program.
by gsp_
25 Dec 2022 21:36
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Brokerage perks (Premium Edge, 5 Star, Jade, Investor Plus, etc.)
Replies: 78
Views: 5127

Re: Brokerage perks (Premium Edge, 5 Star, Jade, Investor Plus, etc.)

Bigger issue is the benefits suck. $5M for the privilege of paying $5 a trade when National Bank and Desjardins both offer commission free trading without any balance requirement? Laughable.
by gsp_
20 Dec 2022 16:52
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Real Return Bonds
Replies: 1545
Views: 242854

Re: Real Return Bonds

Senator among critics calling for Ottawa to bring back real return bonds. Clément Gignac says he will exert 'maximum pressure' on Finance and Bank of Canada to revisit decision Canadian Senator Clément Gignac is among those speaking out against Ottawa’s decision to stop issuing real return bonds, a key inflation hedge for pension funds and insurers to help meet long-term obligations, and said he hopes Finance Minister Chrystia Freeland will reconsider her decision in the new year. “My intention will be to continue to put maximum pressure on Finance and BoC (the Bank of Canada) to revisit their decisions,” he said in an email Monday, adding that he has already taken up the issue in the Senate… Gignac questioned whether the central bank was ...
by gsp_
18 Dec 2022 09:07
Forum: Taxing Situations
Topic: T3 Foreign Withholding Taxes - Multiple Countries
Replies: 9
Views: 779

Re: T3 Foreign Withholding Taxes - Multiple Countries

Peculiar_Investor wrote: 18 Dec 2022 08:54
gsp_ wrote: 18 Dec 2022 08:49 This topic has come up before on this forum, recall a post by Norbert that changed my approach.
Would that be Can I put "various" for country source on T2209? and the post
Norbert Schlenker wrote: 19 Mar 2020 18:40 I use various. Never had any grief.
Thanks PI! Actually went searching for it after my post but couldn’t find it. Somehow searching for “various” by Norbert in the Tax forum returns 13 results but not the one you linked.
by gsp_
18 Dec 2022 08:49
Forum: Taxing Situations
Topic: T3 Foreign Withholding Taxes - Multiple Countries
Replies: 9
Views: 779

Re: T3 Foreign Withholding Taxes - Multiple Countries

This topic has come up before on this forum, recall a post by Norbert that changed my approach.

I used to pick the highest AA country but following the previous discussion started writing “various” in the Turbo Tax information box for directly held intl funds. As GreatLaker says, your available choices will vary by tax software.
by gsp_
15 Dec 2022 21:08
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Relative returns of VCNS, VBAL and VGRO.
Replies: 7
Views: 606

Re: Relative returns of VCNS, VBAL and VGRO.

OnlyMyOpinion wrote: 15 Dec 2022 14:09
Any thoughts on fp's observation? I realize this is of no consequence to anyone, but there must be an underlying explanation.
Not interested to look, sorry. Probably has to do with when the last trade for the day was made on the different products or someone got jobbed on a late at market trade. Best to compare NAVs as AR mentioned or longer time periods.

Recent trade histories are available on https://money.tmx.com/en/ for those who want to investigate trading activity.
by gsp_
14 Dec 2022 23:12
Forum: Stocks, Bonds, ETFs, Funds, REITS and More
Topic: Relative returns of VCNS, VBAL and VGRO.
Replies: 7
Views: 606

Re: Relative returns of VCNS, VBAL and VGRO.

OnlyMyOpinion wrote: 14 Dec 2022 22:34 I see the TSX and QuoteMedia websites also say that VCNS was down 0.15%
But the open was $26.14 and the close was $26.18. That is 0.15% but plus, not minus.
Very odd.
Not sure what the open has to do with anything.

Closed at 26.22 yesterday, 26.18 today so it is down .15% for the day.