WebBroker - interest rate on cash - TDB8150

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George$
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WebBroker - interest rate on cash - TDB8150

Post by George$ »

Just learned about TDB8150 today.

I have cash sitting in WebBroker accounts - earning no interest (including in my SDRIF) and so called TD WebBroker.
I don't want to lock up this cash.
Here is the solution - but it is not sitting in cash - must be transferred to TDB8150.
I need to use TDB8150 to earn 1.25% annual interest - why the manual transfers? - I don't understand - except to see it as another example to aid TD income. :?

See
https://www.tdassetmanagement.com/solut ... /index.jsp
or
http://www.td.com/to-our-customers/tdhe ... =d0254f719

Perhaps there are more informed colleagues reading this. :wink:
Comments welcome
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like_to_retire
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Re: WebBroker - interest rate on cash - TDB8150

Post by like_to_retire »

Just about everyone here at FWF uses HISA's from their respective brokers. We have done so for years.

We do have an entry in finiki about them.

Yes, TDW's HISA is called TDB8150.

uh, what was your question again?

ltr
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Re: WebBroker - interest rate on cash - TDB8150

Post by IdOp »

George$ wrote:why the manual transfers?
It's a deposit with TD Bank, who pay the interest, so you have to move it from Waterhouse to the Bank. BTW, the trades you place to move the money use the mutual fund system, for convenience, but TDB8150 (and similar HISAs) are not mutual funds.
except to see it as another example to aid TD income. :?
That it is!
George$
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Re: WebBroker - interest rate on cash - TDB8150

Post by George$ »

Much thanks ltr and IdOp :)

While my posting shows my lack of details - I must confess I never thought about cash sitting at WebBroker - until now :oops:

Again thanks to FWF and .... :thumbsup:
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brucecohen
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Re: WebBroker - interest rate on cash - TDB8150

Post by brucecohen »

If you're over the CDIC limit there's TDB8155. It's just like TDB8150 but issued by TD Mortgage Corp., a separate CDIC member. Same yield and liquidity as 8150.
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Re: WebBroker - interest rate on cash - TDB8150

Post by chufinora »

brucecohen wrote:If you're over the CDIC limit there's TDB8155. It's just like TDB8150 but issued by TD Mortgage Corp., a separate CDIC member. Same yield and liquidity as 8150.
Thanks, I know the CDIC limit is $100k but how does it work over multiple accounts?, if you hold say $40k in TDBB150 in TFSA, RRSP and a taxable account, is this considered above the CDIC limit?
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Arby
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Re: WebBroker - interest rate on cash - TDB8150

Post by Arby »

chufinora wrote: I know the CDIC limit is $100k but how does it work over multiple accounts?, if you hold say $40k in TDBB150 in TFSA, RRSP and a taxable account, is this considered above the CDIC limit?
See here.
We calculate insurance payments separately (up to $100,000, including principal and interest) for EACH of the following:

Savings held in one name
(personal, business or other organization)
Savings held in more than one name (joint deposits)
Savings held in trust
Savings held in an RRSP
Savings held in a RRIF
Savings held in a TFSA
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Re: WebBroker - interest rate on cash - TDB8150

Post by Peculiar_Investor »

Previous discussion that might be of interest (pun intended) -- Cash Alternatives at TDW.
Imagefiniki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.

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George$
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Re: WebBroker - interest rate on cash - TDB8150

Post by George$ »

Peculiar_Investor wrote:Previous discussion that might be of interest (pun intended) -- Cash Alternatives at TDW.

Again - much thanks - to all the posts on this from all contributors! :thumbsup:
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Re: WebBroker - interest rate on cash - TDB8150

Post by Koogie »

TDB8159 also exists.
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Re: WebBroker - interest rate on cash - TDB8150

Post by Shakespeare »

All TD options are listed at 2 Fund-based investment savings accounts
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Re: WebBroker - interest rate on cash - TDB8150

Post by Transformer »

George$ Thanks for the great info. Yesterday 0% today 1.25%. I feel like it is found money.
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Re: WebBroker - interest rate on cash - TDB8150

Post by mcbar »

I wish there was a similar option available to those of us using mutual fund accounts rather than brokerage accounts. I would say the interest rate on money market funds is abysmal, but that would be stating the obvious.
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