RBC DIRECT INVESTING

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mylund
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RBC DIRECT INVESTING

Post by mylund » 03 Nov 2008 17:51

I made up my mind and will transfer my rrsp accnt & cash accnt to the RBCDI.My concern is will the monies from my present broker be released in time to qualify for the 1% bonus.I once transfered monies from my broker to ING direct because of the 4.5% GIC one yr.term and it toke 8 weeks to get to ING.I will also be out of the country for 6 weeks starting Jan. 6th and the RBC deadline is Nov.28th to initiate the move and all monies must be in RBCDI by Feb?2009.
Any comments.
Regards.

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Peculiar_Investor
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Re: RBC DIRECT INVESTING

Post by Peculiar_Investor » 03 Nov 2008 18:19

mylund wrote:I made up my mind and will transfer my rrsp accnt & cash accnt to the RBCDI.My concern is will the monies from my present broker be released in time to qualify for the 1% bonus.I once transfered monies from my broker to ING direct because of the 4.5% GIC one yr.term and it toke 8 weeks to get to ING.I will also be out of the country for 6 weeks starting Jan. 6th and the RBC deadline is Nov.28th to initiate the move and all monies must be in RBCDI by Feb?2009.
Any comments.
Regards.
While I have no experience with RBCDI, I went through the same process transferring funds from Nesbitt Burns to TDW last year.

For me the key item was to make sure that you have a contact person at the receiving end. Make sure that that person understands your expectation of them to ensure a smooth and timely transition.

In the initial discussion, disclosure ALL the investments that are to be transferred and make sure you understand which ones can or cannot be transferred. Make sure you understand how each security is transferred. There are different processes, some electronic (read - happen quickly) and some paper based (read - happen slower).

Good luck.

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Peculiar_Investor
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Post by Peculiar_Investor » 03 Nov 2008 18:28

Likely OT, but here goes.

In this thread and many others, FWF'ers pursue some sort of bonus such as RBCDI's 1% bonus, or xx% extra on a GIC or deposit account. My question is thus:

When considering the pursuit of the bonus, extra interest, ... free toaster (with attached bank :wink: ), how is the time and effort of making the transfer, move, etc. considered in the equation?

I know from my experiences, transferring accounts between financial institutions requires time and effort on my part beyond the initial fill out the paperwork (electronic form). While I've never quantified how much reward I require vs. effort expended, off the top of my head, I don't think I would be doing it as often as some on FWF seem to be considering.

Moderator -- feel free to move this to a new/old thread if more appropriate.

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westinvest
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Post by westinvest » 03 Nov 2008 19:32

Peculiar_Investor wrote:Likely OT, but here goes.

In this thread and many others, FWF'ers pursue some sort of bonus such as RBCDI's 1% bonus, or xx% extra on a GIC or deposit account. My question is thus:

When considering the pursuit of the bonus, extra interest, ... free toaster (with attached bank :wink: ), how is the time and effort of making the transfer, move, etc. considered in the equation?

I know from my experiences, transferring accounts between financial institutions requires time and effort on my part beyond the initial fill out the paperwork (electronic form). While I've never quantified how much reward I require vs. effort expended, off the top of my head, I don't think I would be doing it as often as some on FWF seem to be considering.

Moderator -- feel free to move this to a new/old thread if more appropriate.
Let's put it this way - I wouldn't do it for a toaster (no matter what it's attached to), but for $2500 in free money the couple of hours chasing down a transfer is well spent.

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Post by George L » 03 Nov 2008 22:00

Mylund wrote:
My concern is will the monies from my present broker be released in time to qualify for the 1% bonus
It took only one week to transfer my investment account to RBCDI. RRSP accounts will take longer. Please check "RBC Direct Investing to offer 1% Again" for the discussions on this subject.

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Bylo Selhi
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Post by Bylo Selhi » 03 Nov 2008 22:14

westinvest wrote:but for $2500 in free money the couple of hours chasing down a transfer is well spent.
That's per account. A couple each with a taxable and registered account could scoop $10,000, tax-free.
My concern is will the monies from my present broker be released in time to qualify for the 1% bonus
Read RBC's FAQ, "Transfers must be initiated prior to or on November 28, 2008 and the Transferred Assets must be received into your Account no later than February 27, 2009 in order to qualify for this offer."
Sedulously eschew obfuscatory hyperverbosity and prolixity.

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Re: RBC DIRECT INVESTING

Post by Shakespeare » 31 Jul 2016 21:16

New interface now shows 1 year actual account returns. Possibly IRR (or modified Dietz?) since cash flows are taken into account.

A nice feature. :thumbsup:
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ockham
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Re: RBC DIRECT INVESTING

Post by ockham » 31 Jul 2016 21:46

Shakespeare wrote:New interface now shows 1 year actual account returns. Possibly IRR (or modified Dietz?) since cash flows are taken into account.

A nice feature. :thumbsup:
A feature more than offset by an inability to sort GICs and strip bonds by maturity date. (When I called to complain, it was clear that I wasn't the first one! They're working on it, I was assured.)

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Shakespeare
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Re: RBC DIRECT INVESTING

Post by Shakespeare » 31 Jul 2016 22:01

It would also be more useful if they showed accrued interest. Still, it's a significant step forward.
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Re: RBC DIRECT INVESTING

Post by Shakespeare » 23 Aug 2017 09:38

Message on RBCDI site:
Date: 19 Aug 2017 07:58 AM ET

A Real-Time Foreign Exchange feature is now available on our website. During Foreign Exchange Hours (Approx. 7:45 am to 4:45 pm ET on business days), you are now able to obtain real-time foreign exchange rates when requesting a transfer from Canadian Dollars to US Dollars or vice versa.

To request a foreign exchange transfer, you can visit the Transfer Cash page under My Portfolio.

As part of this enhancement, RBC Direct Investing will no longer schedule foreign exchange conversions on the trade settlement date to offset any debit balances in your account. For more information on how this may affect you, please contact an Investment Services Representative at 1-800-769-2560.
“A wise man should be prepared to abandon his baggage at any time.” -- R.A. Heinlein, The Door Into Summer.

RBull
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Re: RBC DIRECT INVESTING

Post by RBull » 23 Aug 2017 11:03

Shakespeare wrote:
31 Jul 2016 21:16
New interface now shows 1 year actual account returns. Possibly IRR (or modified Dietz?) since cash flows are taken into account.

A nice feature. :thumbsup:
It's modified dietz.

I see we also now have email notifications for all dividends/distributions-ex dividend, payout dates etc

longinvest
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Re: RBC DIRECT INVESTING

Post by longinvest » 23 Aug 2017 12:40

Personally, I like to calculate two types of returns across my multiple accounts: internal (money-weighted) and comparable (time-weighted). I use a free (online or downloadable) calculator which does it very simply: Calculating personal returns.

Note that there might be reasons why I really like using this calculator. :wink:
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