PC financial following Roger’S route. Received an email about
As a PC Financial® World Elite Mastercard® cardholder, we wanted to inform you of changes to your World Elite Mastercard® account. Mastercard has added a new annual minimum spend requirement of $15,000 for World Elite credit cards that we have applied to your account.
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 ,...
Does anyone link their banking and investment accounts to book keeping and accounting software? Automating updates and book keeping would be really great, but I find myself worried about hacking.
I know the principle is that you're only authorizing read-only requests, but deep down I'm still unsure. I think I'll call up my banks next week to ask what they think, but I wanted to see what you ladies gents thought, or so.
Opening a new bank/brokerage account (those without physical location) now requires a copy of photo ID and selfie, is there a new law requiring that? When did it start? Even adding new account to an existing profile at the same FI needs that. In the past, I remember one can open a bank account online as long as the ID can be verified through the credit bureaus.
Surprisingly I couldn't find a catch-all thread for this.
Got a new one (for me) this morning. Long-distance call came in. Accented guy said he was calling from the Visa security department. In a suspicious tone I asked, which Visa issuer? He disconnected. I suspect this is the gambit.
My b-i-l died last week and I'm his executor. He has a bank account at Simpii Financial. (Maybe President's Choice Financial too)
I'm going to set up an estate account at the local CIBC branch.
Do you know if CIBC can move the Simplii account into the estate account? Or do I have to deal with Simplii separately?
I'm going to take my executor fee. I think I earned it and the will stipulates the amount of the fee. I know have to report the executor fee as income. To do this, I need to make a T4 slip. But to make a T4 slip, I should have a payroll account.
It seems crazy to create a payroll account to issue one T4 - the account will never be used again. I'm thinking of just creating a T4 and leaving the account blank. What have others done?
What a mess. Last Thursday morning we had a taxi pick up us at home to take us to Victoria airport for our flight to Hawaii via Seattle. We left plenty of time to get to the airport, but we ran into a problem; a driver crashed and we got stuck in a 1.5 hour highway closure. Of course, the taxi meter continued to run while we were stuck on the highway. When we finally got to the airport, our plane was boarding. A rep from the airline said we were...
We have a thread on Bad customer service so it's only fair to start one on good deeds.
I took a case of empties back to Brick Brewery today. As it happened they were out of my favourite Brick brew, Connors Best Bitter, so I picked up a 6-pack of Pilsener. At the checkout as the clerk was running my credit card I mentioned how disappointed I was that they didn't have any Connors. He cancelled the transaction, apologized for the out-of-stock,...
I’ve held 5-year laddered GICs in my RRSP for the longest time at Laurentian Bank. I find they’ve always had the most competitive rates and I was always able to negotiate a little extra than the posted rate.
They’ve always played an important role in my balanced portfolio, even when Pierre-Yves McSween would refer to them as « Certificats de Pauvreté Garanti » instead of Certificats de Placement Garanti (CPG).
Bribes from discount brokers has been discussed in other threads. I thought it would be useful to start a new thread to alert others to any new bribes from brokers.
Following is a recent bribe from CIBC Investors Edge. It's hardly worth the effort to transfer. The bribe is only $400 when you transfer in $100,000 or more.
I am in the process of transferring my RRSP out of an investment company and over to Qtrade. The problem is the RRSP is in a series of private pool mutual funds held in the investment company. The challenge is that these funds can’t be transferred in kind out of the investment company. I need to keep the assets under the RRSP umbrella for the transfer. I am looking for options to accomplish the transfer without triggering taxes and not losing my...
... Seems like USians don't know how to balance their checkbooks.
Canadians too it would seem.
Email from TD today:
Starting in April, we'll send you a text or email alert when you get within $100 of the credit limit on your personal credit card or line of credit account(s) or within $100 of a $0 balance for your personal deposit account(s). These alerts are designed to help you manage your money
Since this forum already has a thread for good customer service, let's here from the dark side. Ellen Roseman's Saturday consumer column in the Toronto Star has some splendid examples involving good old Ma Bell!
Chris DeGoeas is a frustrated customer of Bell Mobility. Now that wireless numbers are portable, he plans to go elsewhere.
I don't want to be handcuffed to a company that does little or nothing to help you, knowing you have to stay,...
Hi all, I’m wondering what the best short term (6 months) highest interest rate options there are. My chequings account has $50k in it that needs to be used in August. Till then it’s not earning anything. My bank, TD, has a saving account rate of 0.05% for amount of that value. If my math is correct, that’s $25..not worth that hassle. What would you do with it?
My partner and I are in a relationship and she wants to get married. I only realized how important marriage was to her after 6 months of living together. Prior to moving in together, I said I wasn't interested in marriage. It seems that we poorly communicated and now one of us may need to compromise.
The idea of getting married scares me because I have 10x more assets than she does. She is okay with signing a prenup. My question is on the topic...
Simple task, but geez.
I tried to use Wise to send money to a friend in the US. It supposedly allows me to use a credit card for the transaction. The fee was $50 for a $1200 transaction. Ummm, ok. So I bit the bullet and.... it rejected my credit card. Ok, so it also offers bank-to-bank xfer. For a lower fee. Hooray! Except it doesn't support the bank I use. Ok. Just wasted fifteen minutes setting up login and credentials.
In the interest of saving money, my bank has made it really hard to talk to them. I logged on to the bank and locked the card, I want to get a replacement card. Fortunately I have another card with TD. So I tried to call. I am in Malaysia, so roaming using Virgin. After 20 minutes waiting the line was disconnected. I went back on line to get a replacement card. Of course the bank wants to ship it to my home address in Canada. No option to change...
I'm trying to transfer some USD from my Scotia US$ a/c to my Chase USD a/c (in the US). I do not want to convert from C$ into USD since I have USD available in my Scotia a/c.
Tried with PayPal but they can't link my Scotia US$ a/c as it can only be in C$.
Don't think I can do it with Wise but let me know if anyone has done it.
I know I can wire transfer but looking at a cheaper option.
About 5 business days ago, I deposited a cheque (from myself at another institution) for $11,000 into my TD chequing account. It still hasn't cleared.
I'm told it will clear by end of today.
My holdings with the TD companies are in the mid- to high 6-digit region. Is there a way to get the hold times reduced? I can't remember for sure, but I could swear my branch manager told me they were going to reduce my hold times about a year ago, but...
There are a few other Quicken topics but since Quicken has gone to a subscription model, it is probably time to have a dedicated topic for those of us that have decided to hold our noses and accept the subscription model.
Quicken Canada has finally got to providing a new version, R32.10 (April, 2021). Of course, per their shoddy processes of releasing software before posting any information about it, their Quicken Canada Subscription Release...
Anyone tried WeathSimple Cash? No fee, can use it to pay bills, Interac email money, use cheques, use a “bank card”, and best part - pays 4 to 5% interest on chequing account balance.
Seems very appealing to me get paid on chequing account.
While I’m at it, I noticed there are no fee trades on stocks/ETFs. I pay a small amount with Questrade to sel ETF position or buy stocks, but free sounds like an even better price. Anyone use WS Trade?
I wish to make my own POA. I had completed my document, but when I took it to get notorized, I was informed here is some new format that has been implimented, now I have no idea how to make a form that will be official.
I wish to do this myself as my needs are quite simple.
Does anyone know where I can find an example on the web?
I have been notified that my personal information including my medical information has been compromised during the audit of my insurance company by Ernst & Young. I don't understand why my medical information would have been transferred to the auditors in the first place. I understand the need to review my financial information but why the hell is my insurance company handing out my medical info. Is it typical to transfer medical information to...
Canada Deposit Insurance Corporation (CDIC) is a federal Crown corporation.
Why are they having expensive TV-spots and print advertising.
The member institutions are in it with and without advertising. They have no choice.
The consumer is insured up to the limit. When opening a new account the member institution informs the consumer. They are naturally motivated to point out that the deposits are safe and insured. The consumer has no options...
I am wanting to buy a few GIC’s and I am have trouble understanding the CDIC insurance and how it works across different financial institutions; specifically these three. Scotia Bank, Scotia iTrade and Scotia McLeod.
Question: If I bought a 100,000$ Scotia Bank GIC at Scotia Bank and another at Scotia iTrade and things went bad would that mean one or two 100,000$ pay outs. - Non registered accounts.
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 ,...
I'm the executor for my mother. She had a very simple estate. Some cash, no real estate, some joint accounts and a modest insurance policy. Her will is simple and in order. So executing the will has been as simple as these things ever could be I suppose. Just one problem.
I received her CPP death benefit made out to her Estate. But I dont have an account set up. I've already paid all the expenses and inheritances and taxes out of my own...
(I posted a longer version of this at the Bogleheads forum; reposting here due to a more focused audience)
Fidelity (US) provides foreign currency exchange Through our Fidelity FOREX Inc. subsidiary, Fidelity offers foreign exchange wire services in more than 20 currencies and at extremely competitive rates. (
I have read of inexpensive ways of personal forex for those in my situation, including Norbert's Gambit and, even better, Interactive...
I couldn't find an answer while searching so here's my question. In light of the recent market activity TD has dropped the yield on TDB8150 to .55%
Obviously there is a chance it goes lower, but how low can it go? Does it just stop at 0% yield and the $10/unit price is protected or can it go under $10/unit
I guess my question, is it worth holding here or should I be liquidating to all cash? How safe is it??
Let's say a friend of mine wants to buy a car.
The question is to buy new or used.
I previously thought that the math goes like that.
Cars depreciate roughly 50% every 4 years (simplification).
So let's say someone buys new car for 40K drives 4 years and sells it;
amortization 20K. The person, who buys it next, drives 4 years and sells it
for 10K; amortization 10K. We're assuming of course,
no major investment is required in either...
Hi,
My employer is based on Canada and I get my salary in Canada in CAD$. However, I need to work in USA at least for a year or two. I need to use my Canadian money in USA. Can anybody suggest me what could be best option to transfer Canadian money in USA. I read in this forum about TD cross border bank. I am not sure how economical is this option. Is their conversion rate and fees are reasonable? Any suggestion in this regard will be highly...
Some might be aware that the Bank of Canada has been exploring the possibility of issuing a digital form of the Canadian dollar, also known as a central bank digital currency (CBDC).
Background in Digital Canadian Dollar - Bank of Canada which links the following video.
They go on to state You told us what you want and don’t want in a digital dollar.
And today they provided the following report, A Digital Canadian Dollar: What we heard...
Earning interest for the weekend
From a brokerage using the mutual fund system with all accounts at both/all institution's already configured for transfers. ( and those accounts need to be working not suffering from a previous upgrade or hold for dormant account)
- Unless you intervene you must sell when the market is open by Wednesday to have your money show up on Friday if you're in a brokerage account HISA so you can move it somewhere.
- At...
I recall in the past (early 00's?) when interest rates were similar to now, bank chequing accounts used to pay us interest. Typically not competitive with ISA but 1-3%. I think as interest rates fell over the past 20 years, not only did that disappear, but the account balances required to avoid fees increased significantly.
With the large increase in rates in past 18 months, I don't think we have seen any resumption on account interests (Or...
Is safety deposit box still the most secure way in storing valuables?
Anyone has an opinion on which bank to open the safety deposit box? One time years ago we went to a TD bank and can peek through how unprofessional the staffs handle security that we lost faith, but we are renting again now we r looking for one again and wonder where we should go.
(2) Do you have any recommendations (or warnings) on which bank to choose as my executor and POA? Their fee structures vary somewhat, and seem to be calculated in different ways, which I find hard to understand and compare. So it's going to be a tough choice for me, but one I must make quite quickly. If anyone has been through this decision process themselves, I'd welcome your insights and suggestions. If there's no big difference between the 5,...
My sister will be moving to Calgary at the end of this month and will need to shift banks. A no-charge chequeing account (age 73) and free e-transfers would be desirable. She also has a TD Waterhouse RRIF mainly in MAW104 with a 2021 RRB coming due that needs to be linked to the bank account. The TD account has fees as well as charging for e-transfers.
My bank and brokerage's platforms do not force me to change passwords so I have been lazy and have not changed them for years. To add to the laziness I also use the same password for both. As well, a colleague recently had their email hacked which is waking me up to becoming more proactive.
1) I am curious what others use to protect their online accounts and would appreciate your thoughts (eg. guidelines/practices on how often you change...
My 2002 quicken is no longer supported. I was going to upgrade to 2006 (XG - is for Canada?) so that I can try to download the transactions.
Is it able to download the TDW brokerage transactions? I have no interest in the credit card or banking stuff - I use the software just for keeping track of the transactions - especially non-registered taxable accounts.
In the past I have entered the buys, sells, dividends etc manually.
We had two fraudulent charges to our Scotia VISA card. One for about $35 and immediately after than one for $2100. Reported it within 24hrs. Cards were cancelled and new ones sent. But charges not reversed. Scotia Fraud say it will take at least 30 days!
Checking on Reddit, I see that many had much longer wait before settlement and in some cases Scotia refused to re-imburse.
Another issue is that payment is due within the 30 day period. The...
I know that BMOIL offers every year up to $2K cash bonus for opening/transferring investment accounts from other institutions. I read that CIBC IE also offers similar cash bonus. Are there other institutions that can match the BMOIL and CIBC IE offers for opening a new or transferring DI accounts? Is it negotiable? I know that all offers to pay the cost of transferring and some offer free trading for a certain period, which are not that...
Does anyone have any insight into the Dental care for low-income seniors | ontario.ca eligibility requirements on income?
We are looking at this for parent(s) and it seems that an annual net income of $22,200 or less for a single senior is right around their level of CPP and OAS annual income and would likely exclude anyone receiving any other income above and beyond CPP and OAS.
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