My son’s friend is considering getting life insurance.
She is a 22 year old student. No spouse. No kids. No debt other than smallish student loan.
Her insurer provider (car insurance? Apartment content insurance?) is trying to sell her life insurance.
I was asked for my opinion.
My thinking is this:
1. She probably does not need life insurance now.
2. In a few years, if she has a spouse, a mortgage, a couple of kids (the whole catastrophe!)...
I wonder what electronic methods people are aware of to move USD between institutions in Canada? Do any of the banks have a push/pull capability for USD directly similar to what you can do with CAD quite easily?
I know I can visit and get a bank draft and carry it to the other destination to deposit it, but was wondering if there is another way that doesn't require that step - such as a third party online bank that does it with multiple banks,...
A family member had her wallet stolen while on public transit with cash, credit cards, Health Card, Drivers License, SIN#, etc She didn't notice until she was exiting the transit.
Lost and found called and no luck. Cards have all been cancelled.
I'm concerned about the SIN card (should never have been there) in conjunction with all other information. Can the thief commit fraud, or take out credit?...
Today I attempted to use cash from a sale to purchase TDB8150 and got this response:
This mutual fund is not available for purchase through TD Direct Investing
. Does anyone know if there is a replacement? Thank you.
old new...Wyth will no longer be from May 1, 2023. All online communication will be discontinues as per wyth, so if anyone has an account with wyth, please make sure you move to other FI. I had some money sitting in saving account which I moved to Tangerine (via link account). I do have a GIC which matures 17th May 2023 and an email from Wyth stated that a cheque will be mailed out after maturity for principle + interest. I am hoping the check...
Hello. I am trying to determine which is a more anonymous store of wealth: gold bars or cryptocurrencies.
I think that depending on how you pay for it, gold bars can be completely anonymous. You can walk into a (reputable) dealer and just buy bars with cash. Then you can store it at home or at a security deposit box at a bank, and in either situation, nobody knows what you own.
Whereas with cryptocurrencies, most of them require you to input...
In preparation to Feb 1st, when credit freezes will be available in Quebec, I created user accounts in both Equifax and TransUnion websites so that I can manage the freeze online. As I already had the accounts created, I tried to check my free credit reports. It was immediate and easy with Equifax, but with TransUnion I still haven't been able to do it. I manage to log in, but I get one of two different errors:
I was gathering information for a campaign I wanted to start this year to bring credit file freezes to Canada when I found this on the Equifax website :
As a result of the Credit Assessment Agents Act (the Act ), starting February 1, 2023, consumers in Quebec will have the right to place, suspend, or revoke a credit lock on their Equifax consumer credit report. When a credit lock is active on an Equifax credit report,...
Currently I have everything at RBC DI and normally just buy GICs from the available RBC DI offering list.
This year I have two wrungs to buy since I did not do anything with last year's cash (tsk tsk).
Is it worthwhile to pull out cash from RBC DI to several other institutions for the better GIC rates?
With these two wrungs, over 4 and 5 years respectively, the end value comes out ahead as follows, with the extra account setup work:
I have only one credit card.
My wife has only one credit card.
I like to keep things simple.
But something happened 2 weeks ago that made me question the wisdom (or lack of wisdom) of having only one credit card.
On January 20, I noticed 4 illegal transactions on my credit card. I called the credit card company, they cancelled my card and they told me that I would get a new one in the mail within 10 working days. A few days later I got an email...
(First of all, excuses if this is too off-topic for this forum. I think it's not, but I understand if a moderator nukes this post.)
The other day I wrote a post about credit freezes coming to Quebec and I mentioned that I was working on starting a campaign ( campaign is too strong a word for what it is, honestly) to try to push for credit freezes for all of Canada and, in general, to see where reform might be needed in the...
A young family member has an established RDSP at RBC. The fees for the RBC Select Conservative Portfolio are eye-popping to my US-centric view, coming in around 2% (or 3% depending on which Series she has, which is unknown at the moment). Granted, I imagine the costs of running the RDSP are higher than for a retail account but just the published fees make my eyes water ( I am used to cut-rate fees at Vanguard, Fidelity, et al. in the US.
I am in the US for the winter and we will need approx 50,000 US. Does anyone know how to get that amount of $ from Canada to US? I think one has to go to bank in Canada to send a wire transfer?
How necessary is it to have travel insurance when travelling within Canada? As I understand it, I would be responsible for the difference between what I am charged and what my home province cost would be. Would this be enough to make travel insurance prudent?
With interate rate being much more higher now, when doing self to self interac e-transfer... will one lose interest when transfers are being made during weekends or stat holidays (ie. funds transferred in won't be given interest until the next business day)?
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 have a joint bank account with my spouse, my spouse is the primary account holder. Can I use that account to receive wire transfers only addressing to my name? Wondering if I need to open a single bank account just for that purpose.
Was told the new Wealthsimple debit Mastercard has no FX fees (usually 2.5%) for foreign currency transactions, only FX exchange rate applied. Is that right?
Do all debit Master/Visa cards also have no FX fees for foreign currency transactions?
I am interested in purchasing investment /financial planning books for Christmas gifts for younger family members that range from mid-20's to early 30's. Most are starting in their careers and several have begun having children. My preference is for something more introductory for the younger members to get them started.
I am looking primarily for introductory information on investing at younger age and other topics that would be relevant. I...
A Google search doesn't turn anything other than a website with a log-in and password page. No information on the company.
www.transcap.ca
The designer of the website has a comment.
TransCap carries on the business of buying and selling assets similtaneously realizing a spread (profit) between the purchase price and sell price of those assets
I think i could use your collective wisdom for my 2023 project.
An avid cyclist, I have signed up for a Ride to Conquer Cancer organized by Princess Margaret Cancer Foundation for my first time. It looks like a well known ride in Ontario, about 200 km in two days from Toronto to Niagara Falls. This is okay for my abilities as I easily ride about 100 km a day.
Now comes the hard part. Each rider has to raise...
Long-time TD banking customers. Went to the branch to open an RSP for my spouse. Signed lots of forms. Also switched my RSP to TD Direct, since they said I had to. More forms. All done; so we thought.
TD never sent spouse any info on how to log in to the account they created. That took a follow-up phone call.
For me, it's taken two calls to try to set up the automatic investment again that I had in place when the RSP was at the bank instead of...
We have TFSA in GIC maturing with a local Credit Union. I am wanting to move a bulk of new mature ones to CIBC to take advantage of a better vehicle. CU charges $75 to transfer, which CIBC said they would look after. I sent the 6 TFSA numbers to start the process, and the financial advisor at CIBC was quite shocked that every time year we contributed the max to TFSA GIC, they opened a new one, which means $75 times the number of TFSA's. Is this...
I have my RRSP at TD that I am investing in GIC. I recently renewed a 14-month GIC at 3.25%. My brother told me that he renewed at CIBC at 4.25%. Sure enough, it has a 1-year GIC at that rate So I checked other banks. I see that Soctiabank has a 14-month GIC at 4.4%. BMO has a 1-year GIC at 3.75%. Even usually stingy RBC has a 4% 1-year GIC
I don't understand why such a big difference among the big 5 who compete against each other. My...
Bank offers much higher interest rates and sets a triggering exchange rate to do the conversions. Basically you gamble on exchange rates against the bank. Is there any other pitfalls to avoid?
I want to transfer tfsa savings to hubert. I tried creating external account at hubert but I think the peoples trust account number is wrong. Do I call peoples to get the proper account number?
A discrepancy has come up between the amount of life insurance that a deceased had in their records and the amount in the insurance company's records. It is unclear if it was a problem with the agent or the insurance company. There are others who used the same agent at the same time. Is there a way to confirm what insurance you have in place without going through the agent?
My wife’s account had two fraudulent etransfers initiated from it for 1K and 2K. The latter took place while we were on the phone to Meridian to tell them about the first breach. The online access was then shut down so hopefully that’s that… But we are struggling to figure out how the thieves got the access.
We scanned her phones and laptops and found no viruses. However there was a rush of spam emails coming in at a rate of 20 per minute in a...
I was notified by HSBC that British Pound £20 and £50 paper notes no longer accepted after September 30th .
We happened to have a 'stash' from a previous trip and didn't know of the upcoming expiry date.
It was a quick trip to the local branch to exchange the notes.
I want to park my USD funds where I can earn some decent interest income. Since conventional USD accounts offer very low interest rates, I came across Investment Savings Accounts (Series A and F) offered by all big 5 banks. Which one should I go opt for? Scotia, TD or RBC?
Also branch representatives are often not aware of this product, should I go see an investment advisor at a branch to open this account or can I do it online?
We're living in Canada now and appreciating quite a few new and good things about being here. We particularly love being in single family housing again and how close playgrounds are for our sons, for example.
With change typically comes some challenges, though. For example, my old Canadian credit records have long since aged out, meaning I effectively have a blank credit history.
We don't want or need any loans, so rebuilding a credit...
I have a homemade infection treatment product that is doing well on etsy. Am I required by law to list all the ingredients in it? If so how do I protect it from getting copied or stolen if all my ingredients are going to be publicly available?
I see similar sellers listing their ingredients, but how do I know that is everything and they are not leaving their magic ingredient out or something? To my knowledge nobody is regulating the...
I have a 3-year GIC ladder, as part of my emergency fund plan, in my non-registered account.
One of the GICs has just matured.
The question is: do I stick to the plan and buy a new 3-year GIC now.... or wait till mid-September when the Bank of Canada will (almost) certainly raise the rate again, and hope GIC rates go up, too?
Anyone here receive UK state pensions paid via Wise?
Both DW and I are missing payments. Hers today, mine last week. Always been regular until this month.
Also gonna see if I can start a query at Wise.
Thanks.
BMO has a Pre-paid travel credit card that is reloadable.
Im contemplating using this pre-paid Mastercard to purchase an online membership to a site.
The site In question has a minimum 6 month membership that you can purchase. The site also states that it’s free to cancel at anytime. But from what Iv’e read on other forums, Your on the hook for 6 monthly payments, so If I don’t like the site after one month, I cancel, but my credit card will...
I've searched the forums and have not found anything that addresses my query so am posting this fresh.
My wife recently acquired her father's 2011 Forester on his death. It is designated to be used by our teenage boys.
Yesterday during the storm that hit Toronto several large tree limbs came down on it shattering the windshield, denting the hood and roof, and both posts that are part of the vertical frame around the windshield. Scratches and...
Today doing monthly transaction input I found two securities missing in each of two accounts. They show up in the security list and clicking on them there shows all the transactions with no indication of them being removed. They also show up in things like portfolio value and cost basis reports.
I can restore a backup from may and see them there. I tried running the data validation but no joy.
I am just letting it sit for the moment but if i...
Thinking about replacing some of the windows in our house which was built in 1987. We have lived in the house for about 25 years and a few of the windows/sliding doors should be replaced. Wondering if I should just wait as we may sell in 3 to 4 years?
Just wondering what happens to your debt (eg credit card, line of credit debt) after you die? Assuming you have no children or family to inherit your debt.
Also, what are the biggest types of debts you can accumulate?
We have a small amount owing on our line of credit. 13k. Coincidentally we have about the same amount in a cash savings. The LOC interest rate just creeped above 6%(and climbing). Savings account gets 1.25%.
We currently make payments of around 500/month on the LOC.
Good idea? Bad idea? or makes no difference.
I like the idea of having the cash savings but it's not doing much.
After over 30 years living in foreign countries, there is a lot to learn now that I've returned to Canada with my family. Now as retirees, my wife and I are trying to learn how to efficiently transfer assets and US-based income to Canada.
We have an immediate need to move a lowish six figure sum of US dollars to Canada. We'll be receiving social security from the US government one day. We'll also be receiving a US-based annuity (must be...
Have been giving this some thought . Most of our driving is short distance . Might have a couple of trips of 500 kilometres per year. The reviews on the EVs seem very positive . I was really impressed by the reviews I have seen for the Hyundai and Kia mis sized SUVs. Pretty good range , impressive finish and design with solid quiet performance. Another plus is access to service if needed and their 10 year warranty. Curious what others might be...
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