This is regarding Gics so will post here. Can a POA be joint on a Gic? Oaken is saying no, is this an Oaken rule or a general bank rule. I get it this could be a way a POA could slide money into her own name.
Has anyone here successfully lowered, or entirely eliminated their chequing account fees via loyalty discounts etc. with their respective Canadian bank?
What's the cheapest way to get a document notarized in Ontario? A friend needs a whole slew of documents to be notarized over time (not all at once) and would like to keep his costs down.
I got my auto insurance renewal notice the other day and the premium jumped by 15% year on year! No traffic tickets or such to justify the jump, they just told me the rates have gone up. So, I'm shopping around for the first time in over a decade.
Can anyone recommend a low cost auto insurance provider?
Been a TD Cross Border customer since 2017. Mainly had money going south to north but have gone in the opposite direction (have templates setup for phone call wires in both direction, have used TD Global Transfer south ($2.5k limit), have used TDCT transfer from Visa debit north ($5.0k limit)). Limit for RBC is $50k per transfer and it can be done online (maybe even multiple times...not sure there is any real limit), and seen instantaneously...
I noticed a transfer recently occurred between EQ bank and my linked RBC account that I did not initiate. I'm the only one who has access to the accounts so I'm puzzled. When I reached out to EQ to look into it they weren't really helpful and basically said they didn't know how they could help. Has anyone else experienced weird transactions like this with EQ?
I have a windfall of about $60k that I am planning to apply to my mortgage at the end of July (mostly for risk reduction purposes). I don't usually keep much cash. I want to get a better interest rate but am wondering about frictions and delays in moving money around. If I need the money to hit my big bank account by July 23 when would I need to initiate the transfer back?
It seems there is often a consensus here that going well above CDIC limits at tier 1 banks is okay. Even the offspring of two, Tangerine and Simplii, seem to be deemed okay at the FWF. What about other tier 2 banks? How much over the $100k CDIC limit are people comfortable with? Some specific banks have actual deposit limits (ie. $200k at EQ Bank, if account was opened post Feb 21, 2016) and others drop their interest rates (ie. above $500k at...
A friend has been offered a freelance gig in which she'd get paid periodically by EFT in US$. Her contact says his bank charges $17 for each payment received and that's before FX conversion.
My TD US$ account receives monthly payments but I pay no fees because I maintain the requisite minimum balance that's too high for my friend.
Does anyone know of a free or cheaper way to get paid in US$?
Anybody try to renew their car insurance with Belairdirect that were once Canadian Direct customers?
Website not working, policy written wrong, $487 instead of $387 spent 45 minutes on the phone trying to correct this, that looks like about a 20% 26% increase to me.
I'm helping clients buy a property in the US, and I'm wondering how to save them some money on the exchange fees. I doubt they'll be inclined to go through the leg work of doing Norbert's gambit, even if it's an option, and not to mention we have about 3 weeks to get it all done. So what the best options as of late. Around 300,000 USD. Looks like about $1,900 CAD to use TransferWise.
I'm assuming they can transfer the money directly to the...
Does anyone have any insights on the new online user agreement at People's Trust? I tried to log in, only to be redirected to a user agreement page about Yodlee. I was forced to enter my password and press I Agree to see my accounts. I tried to read the damn thing, but it was so detailed that I probably missed the bit about signing away my children. Seriously, I tried to figure out what this organization does -- but other than act as some kind...
I received a settlement payment in a securities class action lawsuit. The payment is in the form of USD cheque drawn on an American bank. The cheque is made out to my RRSP account, not to me personally.
I plan to mail the cheque to TDDI's back office, with instructions to deposit the cheque to my USD RRSP sub-account.
I had to go into my wallet today and I noticed the cash that was there.
I took it out and saw how weird and unique Canadian $20 dollar bills had become with all their transparent windows. It felt very plastic compared to what I was use to sixty years ago when I was a kid.
I counted it, and it was $200. I thought about how long it had been stored there. Probably three to four years. That's how long it's been since I've used cash.
I would like to award PC Financial the customer service of the week award.
I was going to take my payraise and direct the contributions to my PC index fund, managed by CIBC. To get started, I thought I'd call them. On my quarterly statement, it instructs:
If you have questions about your statement call: 1 888 723-8881 and select the mutual fund option, or ask to speak to a CIBC Securities Inc. Mutual Fund Representative.
I've always been a bit nervous about loading the TD Bank mobile app, since a phone seems like something I could lose fairly easy, although I guess I could set the password to not remember and I would have to enter it every time.
Anyway, the nice folks at my insurance company gave me a rebate on my car insurance, and they weirdly sent me a cheque in the mail. I haven't had a cheque in my hands as long as my addled mind can remember. And I sure...
While I haven't needed credit in 20+ years and don't ever epect to, I'm curious what caused my credit score to drop 100 points between Mar and June 2020. My bank (RBC) and my Costco Mastercard offer anytime credit checking (not chequing). In March, both recorded a score of 850+. In June it was 750+. I looked at the detail and saw nothing suspiciuos but noticed 2 possibilities:
in Feb. I got a new card and forgot to notify my cell provider,...
They have an option to pay $500 and become a shareholder upon registration. This saves you about $80 every year on admin fees and a slightly lower hourly rate. Catch is that once you close your account with them it takes 3 months to get your money deposited back into your credit card.
Has anyone gone with this option? Any issues with getting your money back? If I leave for the UK eg. right after I close my...
I'm gonna get one of my poems published this Summer in Songs of Honour
The e-mail sez:
Scheduled for release in Summer 2006, Songs of Honour will surely become one of your most treasured keepsakes. Your publication in this edition will establish you as an international author and afford you the respect and admiration attendant to such an honour. International Copyright notice for your poetic artistry will, of course, be in your name, assuring...
Hi. I've opened a Tangerine account to take advantage of their 2.1% deal on savings account for 5 months. I'm wondering what the best method to transfer money from HSBC to Tangerine. I have up to $100,000 I could transfer and I have tested with small amounts using interac e-transfer but this seems a little unsafe and given daily limits would take some time.
Thanks in advance.
We have sold our house recently and will be renting for the next three years. We will receive the house funds in January and DW insists that we put the money into HISA/GICs only. Given the time period, I am not foolhardy brave enough to argue the point.... :)
My question is, would you take the funds at this point and buy 3 year GICs or would you ladder the funds ? We seem to be in a period of rising interest rates. Taking that as a given for...
What is the cheapest way to send cash to Australia for a 6 figure amount? I was asked today but when I last did it a decade ago we used a bank wire. Are there better options now?
I'm in the midst of a job change and have two competing offers from two companies with different pay structures. One pays a yearly bonus while the other does not..instead it compensates overtime. For comparison of offers on a purely monetary basis, I'm calculating the equivalent salary of Company B that would be equal to the total compensation of Company A. This assumes that I'd get paid a bonus of 30K per year by Company A and I would work 5k...
What type of savings account would be best for low monthly contributions? I want to start an emergency fund which I have tried and failed in the past. It seems pointless to use a TFSA when Cash contributions would be around $100 per month at best. Everything I read about them suggests they are more beneficial for people who have more to put aside or other kinds of investments. I also have personal debt to pay which is lowering what I can...
Is there a general consensus in Canada whether emailing banking details is acceptable behaviour or not?
Seems like Motive no longer mails out PAN/PAC's for new accounts (maybe they acted on Insomniac's customer service feedback?). However, it also sounds like the only way to link accounts with them is to email, fax, or snail mail your banking details (assume this means transit, branch, account # for linking purposes). I generally would rather...
When I logged in this week, I noticed that where in the past, there was about thirteen months of statements available for download, previous year statements have been added. One can now go back as far as seven years or so.
I have been pretty good but have missed one or two statements. :mrgreen:
My parents, when emigrating to Canada from East Africa in the early 70's, brought along a significant amount of gold coins and gold jewelry (as an asset safety measure). It has been sitting in a safety deposit box for almost 50 years (grrr). With 1) the more important need to clean up their possessions, 2) the high price of the assets - the total value is worth a lot of money of $s.
This included 1) coins which were standard (at the time) US...
So, I closed out the books for the year since we don't imagine to spend any more money on this last day of 2020.
We ended up 18% under budget.
I'm curious if others experienced a similar drop in their expenses as we huddled in our bunkers for most of the year and, if so, what are your plans for this savings bonanza ?
Folks on Bogleheads are posting about MYGAs (Multi-Year Guaranteed Annuities). You can see on a site like this that they often have 5-10 year terms and currently pay ~3% per year:
I took a quick look to see if we had any comparable instruments in Canada. The closest I could find was a GIA (Guaranteed Interest Annuity), but it has GIC-like rates (in other words, terrible).
So is it safe to assume we don't have anything like a MYGA here?
My current savings rate (excluding company DC pension plan) is about 15%. I've calculated that if I can somehow earn an extra $500 today to save, it can make a huge difference to my retirement portfolio in 30 years time. How can I increase my earning power/add a small income stream to add to my savings rate? Here are some details about my income and expenses:
base salary: 80k
no end of year bonus, profit sharing etc.
DC pension plan...
FWF'ers do an amazing job tracking down and reporting on rate changes, questions, special offers, etc. related to high interest savings accounts (HISAs), Guaranteed Investment Certificates (GICs), money market funds (MMFs) and the other savings vehicles.
We would ask that you please do not use this topic to discuss the relative merits of HISAs and GICs as an investment vehicle.
For newcomers to FWF, our wiki covers Cash management ,...
Quicken has finally listened to Canada (or perhaps their sales are hurting). In any event, for a short time, it is 40% off in Canada for the Deluxe and Home/Business versions. It is still a subscription service but at least if you are thinking of using the software it is a bit cheaper this year.
According to the email I received it says:
Limited time offer of 40% off the list price applies only to the purchase of Quicken Deluxe, Premier, Home...
A data point for those considering changing credit cards:
I've recently switched to the Tangerine card from MBNA SmartCash World card.
- Both are no fee, cash-back MasterCards.
- Both offered a minimum of 1% bonus or dividend on all purchases.
- Once MBNA offered 2% on grocery and gas but they've since capped that at the first $400 per month which has severely limited its value for me.
- Tangerine offers 2% on any two categories and will...
Given that I won't be travelling abroad any time soon, I'm wanting to convert my left over foreign currency from previous trips back to CAD. I think I have a few hundred dollars worth lying around in my sock draw... my problem is that it's in Turkish Lira, Euro, Pounds and honestly coins and bank notes that I don’t even recognize!
The obvious thing to do is to take it to the bank I guess, but I feel worried about being on the receiving...
Where do ya'll keep your cushion/emergency cash reserve? I'm thinking HISA is best, but was wondering about a bond etf such as the VGV...
If HISA is the way to go, the highest rates offered currently are with EQ bank (1.5%) or Canadian Tire (1.8%). Would you recommend one over the other? Side note: I thought Tangerine was a top player...any idea why their rate is so low at the moment?
What options do I have for the fixed income portion of my portfolio. I have been doing 5 yr GIC ladders and have run out of institutions to place anymore funds. any suggestions? I am risk adverse.
I recently stopped using my credit card. A bit of a habit passed on to me by my parents. I spent my first 3 years since leaving home, overspending and getting into debt on a credit card, not quickly but slowly by not budgeting or being sensible with my money.
I am with Simplii financial, I still have a Presidents choice MasterCard but I put the temporary lock on it and no longer use it. I do still feel like I would occasionally like to make...
I was just reading the post the end of Shakespeare's primer and I realized that I have never thanked him, and others, for all of the help they've given me over the years. In 2005 I joined this forum and it changed my life. It was from Bylo, Shakespear, and Norbert that I gained the courage to take on DIY investing. If not for them I would still be paying fees to a planner to buy high cost M/funds. My financial situation would be floundering...
She will receive the money near the end of November from the sale of her current home, and will be using it for the purchase of her new home in mid-March. While she holds this cash, she wants it to generate most of the rent she will be paying back to the new owner of the home she sold. It will be important to be able to withdraw the money on time (to make the closing date of the property she is purchasing).
I am in my 30s and am currently in the dating market. I have been going on dates with women I've met on Eharmony, Match, Plenty of Fish, Tinder, and Hinge, some of which developed into short term relationships. The women I meet are without exception far worse off financially than me. They usually work some low paying job (waitress, etc), they are often still unemployed and full time students (yup, in their 30s) and they either still live with...
I have always tried to keep any of my GIC investments and savings accounts covered by CDIC. I became especially careful about this after the financial crash.
This has become more difficult since I rebalanced to a higher fixed income allocation as much of my fixed income is in GICs. And now I shortly expect to be selling my house and needing to keep the proceeds liquid for quite a while. As a consequence of this I will very likely have a very...
Hi All
I am looking for a USD high interest savings account or money market fund at TD direct . Any suggestions? I want to park some US dollars for a short time.
I was talking to someone the other day and they were telling me about their legal issues they were going through with ICBC due to a collision from a few years ago - it's an interesting case and I wanted to see if anyone had similar experiences or any thoughts on the case.
The backstory is that this person was changing lanes, and from their account, they had signaled and shoulder-checked before changing lanes. From their perspective, it was...
Friends booked flight to Australia in January for an event in August. In March the event was cancelled and the government issued travel advisories. They cancelled their flights and contacted their insurer for a cash refund. It was with RBC Insurance. They were assured in March they would be entitled to a full refund. They were told later that the refund would take 8 weeks. Their file has been turned over to an entity entitled Titan and they have...
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