Nope. (Unless you were part of some pilot or beta test.) You don't need to do either. They suggest, but have no way to enforce, that after they accept your cheque via the phone app, you make a notation on the cheque that you've deposited it. Presumably this is so that you don't embarrass yourself if you inadvertently try to redeposit it. That seems fair enough to me. In any case I don't see what's painful about this optional post-deposit process.Spudd wrote:they needed you to sign the cheque and write some sort of number on it as well (I forget the details)
Best Credit Card
- Bylo Selhi
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Re: Best Credit Card
Sedulously eschew obfuscatory hyperverbosity and prolixity.
Re: Best Credit Card
Oh, that's good. I guess I tried it early on in their implementation and never looked at it again after that. Maybe I'll try it again next time I get a cheque.Bylo Selhi wrote:Nope. (Unless you were part of some pilot or beta test.) You don't need to do either. They suggest, but have no way to enforce, that after they accept your cheque via the phone app, you make a notation on the cheque that you've deposited it. Presumably this is so that you don't embarrass yourself if you inadvertently try to redeposit it. That seems fair enough to me. In any case I don't see what's painful about this optional post-deposit process.Spudd wrote:they needed you to sign the cheque and write some sort of number on it as well (I forget the details)
Re: Best Credit Card
I haven't deposited a cheque this way. How long do you keep the original?Bylo Selhi wrote:Nope. (Unless you were part of some pilot or beta test.) You don't need to do either. They suggest, but have no way to enforce, that after they accept your cheque via the phone app, you make a notation on the cheque that you've deposited it. Presumably this is so that you don't embarrass yourself if you inadvertently try to redeposit it. That seems fair enough to me. In any case I don't see what's painful about this optional post-deposit process.Spudd wrote:they needed you to sign the cheque and write some sort of number on it as well (I forget the details)
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Re: Best Credit Card
In some cases indefinitely. For example I'll staple a GIC interest cheque to the statement it was originally attached to, then file it away for tax season. Next spring that will become part of my tax records for at least the following 8 years.
But I'd think a month should be more than sufficient for the "cheque" to clear through TD's system.
And of course I make a note on the cheque to indicate that it's been "deposited."
But I'd think a month should be more than sufficient for the "cheque" to clear through TD's system.
And of course I make a note on the cheque to indicate that it's been "deposited."
Sedulously eschew obfuscatory hyperverbosity and prolixity.
Re: Best Credit Card
Thanks. One of these days, I suppose I will have to buy a smart phone.
Re: Best Credit Card
OR....use a tablet or ipad with camera works tooUnread postby Insomniac » Fri Aug 14, 2015 11:11 am
Thanks. One of these days, I suppose I will have to buy a smart phone.
Re: Best Credit Card
Well, I just checked with my credit union. Smart phone, tablet, iPad or ... doesn't work as they don't support online cheque deposits (yet).
Re: Best Credit Card
sorry I didn't use the precise names of the cc... there are too many...Okanagan wrote: Yabutttt....with MBNA you only pay $89 per year and get 2% cash back to spend on whatever ....with BMO you pay $150 per year???? and get only 1.75% back AND have to spend on travel
My MBNA is zero fee, BMO card I have no fee for the first year and I will likely cancel after.
"Speculation is an effort, probably unsuccessfully, to turn a little money into a lot. Investment is an effort, which should be successful, to prevent a lot of money from becoming a little." Fred Schwed " Where are the Customers’ Yachts?"
Re: Best Credit Card
Scotiabank to Acquire JPMorgan Chase Credit Card Portfolio in Canada
No mention of the Amazon Visa card. I wonder if it's included.The JPMorgan Chase credit card portfolio being acquired is a MasterCard and private label credit card portfolio, currently associated with Sears Canada Inc.
Re: Best Credit Card
Look like Sears only:DenisD wrote:No mention of the Amazon Visa card. I wonder if it's included.
http://www.bnn.ca/News/2015/10/15/Scoti ... organ.aspx
I cut up my Sears card when they wanted me to change it into a MasterCard.
Re: Best Credit Card
I am still with the CIBC Driver's Edge. It was formerly CITI Driver's Edge. Just cashed in for $2600 because of a vehicle purchase. Since 2004 I have redeemed something like $12,000 on one boat purchase and 4 vehicle purchases. I think I might let it go and start using the RBC Westjet card. My spouse gets one annual flight for $99 . We make a couple of North American flights a year and I figure this makes sense. I have reached a stage in life were my need for vehicles will diminish.
Re: Best Credit Card
That was my thought, too. Is Amazon part of this. I read all through the article, but could find no specific reference. Any more news on this?Insomniac wrote:Look like Sears only:DenisD wrote:No mention of the Amazon Visa card. I wonder if it's included.
http://www.bnn.ca/News/2015/10/15/Scoti ... organ.aspx
I cut up my Sears card when they wanted me to change it into a MasterCard.
2 yen
Re: Best Credit Card
(added)2 yen wrote:That was my thought, too. Is Amazon part of this. I read all through the article, but could find no specific reference. Any more news on this?Insomniac wrote:Look like Sears only:DenisD wrote:No mention of the Amazon Visa card. I wonder if it's included.
http://www.bnn.ca/News/2015/10/15/Scoti ... organ.aspx
I cut up my Sears card when they wanted me to change it into a MasterCard.
2 yen
This message appeared on the Chase Amazon website:
TRAVELLING TO THE U.S.? Paying at the Pump is easier than ever with your Amazon.ca Rewards Visa Card.
When using your Amazon.ca Rewards Visa Card to pay at the pump in the U.S. you may be prompted for a 5-digit zip code.
Simply use the three numbers from your postal code and add two zeros. If your postal code is L1M 2N3 the 5-digit number you enter is: 12300.
Available at participating U.S. fuel merchants
I called to see which merchants and the reply was that it was an individual station thing, not fuel companies. Oh well. At least they are talking about this issue a bit.
2 yen
Re: Best Credit Card
We have a PC Financial MasterCard. No annual fee, 5.9% interest, and 2% cash (in the form of free groceries) on all purchases. There are also extra bonus "points" if certain things are purchased.
We spend over $30k/year on this card, so it's a no-brainer - over $600 in free groceries.
We spend over $30k/year on this card, so it's a no-brainer - over $600 in free groceries.
Re: Best Credit Card
At 10 points per $1 how do you figure 2% or do you get an additional 10 points if you shop at PC stores?Jo Anne wrote:We have a PC Financial MasterCard. No annual fee, 5.9% interest, and 2% cash (in the form of free groceries) on all purchases. There are also extra bonus "points" if certain things are purchased.
We spend over $30k/year on this card, so it's a no-brainer - over $600 in free groceries.
It is more of a groceries back plan. Also the fine print says they can change the point value at any time. I got burned by RBC by not reading the small print.
"And the days that I keep my gratitude higher than my expectations, well, I have really good days" RW Hubbard
Re: Best Credit Card
PC Financial offered me an upgraded "World Elite" card in my last statement: http://www.pcfinancial.ca/english/credi ... orld-elite
It gives 3% on PC groceries.
I buy a lot of basic groceries at Shoppers Drug Mart. The specials on PC products are better than at PC stores , and the groceries I want are usually in stock . With judicious buying I can accumulate more points - although they are harder to use at max value than the PC points.
It gives 3% on PC groceries.
I buy a lot of basic groceries at Shoppers Drug Mart. The specials on PC products are better than at PC stores , and the groceries I want are usually in stock . With judicious buying I can accumulate more points - although they are harder to use at max value than the PC points.
Peter
Patrick Hutber: Improvement means deterioration
Patrick Hutber: Improvement means deterioration
Re: Best Credit Card
The 70K minimum income might limit the number of people using this card. I know I try and keep my taxable income to a minimum yet probably spend more than a wage earner pulling in 70K per year.pmj wrote:PC Financial offered me an upgraded "World Elite" card in my last statement: http://www.pcfinancial.ca/english/credi ... orld-elite
It gives 3% on PC groceries.
I buy a lot of basic groceries at Shoppers Drug Mart. The specials on PC products are better than at PC stores , and the groceries I want are usually in stock . With judicious buying I can accumulate more points - although they are harder to use at max value than the PC points.
Not a bad deal though; BMO charges $150 for a 1.75% cashback world elite MC.
"And the days that I keep my gratitude higher than my expectations, well, I have really good days" RW Hubbard
Re: Best Credit Card
PCF MC is my oldest credit card, with about a 15-year history with no missed payments, but earlier this year they lowered my limit from 20k to 2k (notifying me by letter weeks after the fact, and congratulating me that it was in _my_ best interest to have a 90% lower limit); then on the phone agreed to increase it to 10k again after a lot of discussion; then lowered it again the next week to 1800. Well after that they send me an offer for the new card, then apparently decided that was a mistake. I clearly fell into one of their risk categories but I'm not amused and about ready to give Costco a try.
Re: Best Credit Card
One website has listed their choices for best Canadian credit cards in each category...
The Best Canadian Credit Cards of 2015
https://www.ratesupermarket.ca/blog/bes ... ance-2015/
~ we have #1 and #2 choices in the Cashback segment. Pretty happy with both of them except MBNAs
extra-crappy website. That might be the TDCT I.T. department holding them back, though...
The Best Canadian Credit Cards of 2015
https://www.ratesupermarket.ca/blog/bes ... ance-2015/
~ we have #1 and #2 choices in the Cashback segment. Pretty happy with both of them except MBNAs
extra-crappy website. That might be the TDCT I.T. department holding them back, though...
Re: Best Credit Card
... But with no category that Amazon's 0% FX VISA would fit into . The Amazon website is pretty good too - exchange rates (to about 10 SF) on every transaction!Koogie wrote:One website has listed their choices for best Canadian credit cards in each category
The assessments seem to be ranked only by % value of rewards - without accounting for cards that have annual fees. There are lots of no-fee cards with 1% on everything, and there are no-fee cards with 2% or more on gas and groceries - so to net-out more rewards using a $100 fee 2% on everything card - if there is such a thing - I'd have to put at least $10k of non-gas / non-groceries on it. Do-able - maybe ....
Peter
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Patrick Hutber: Improvement means deterioration
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Re: Best Credit Card
Yeah, the MBNA site has definitely (IMO) gone down the toilet since TD took over.Koogie wrote:Pretty happy with both of them except MBNAs
extra-crappy website. That might be the TDCT I.T. department holding them back, though...
Re: Best Credit Card
I always use greedyrates.ca to figure out what credit card is best to be honest.
Re: Best Credit Card
I have just received my Amazon.ca Visa card. I was attracted by the good forex rates and I intend to use the card mostly overseas and for my Amazon purchases (2% refund).
Let's say I need to transfer $3k from a Canadian bank account to an overseas bank account every month while travelling for 6 months (separate from any purchases made directly with my credit card). I can see 3 ways to do it:
1. Every month, pre-pay $3k to the Amazon Visa using 'bill payment' in my Canadian online banking, then ask for a cash advance on the Visa at the overseas bank;
2. use my debit card at an ATM, withdrawing $500 on six consecutive days;
3. make a $6k SWIFT wire transfer every other month
The monthly fees I can easily calculate are the visible ones:
1. cash advance fees 1% from Chase = $30
2. charges from my bank for each transaction, from the overseas bank as well, probably $30+ in total
3. about $25 to send and $10 to receive, but this is every other month only.
Number 2 is annoying. Number 3 sounds the cheapest, but will the exchange rate be as good as on the Amazon Visa (number 1)?
Thanks
Let's say I need to transfer $3k from a Canadian bank account to an overseas bank account every month while travelling for 6 months (separate from any purchases made directly with my credit card). I can see 3 ways to do it:
1. Every month, pre-pay $3k to the Amazon Visa using 'bill payment' in my Canadian online banking, then ask for a cash advance on the Visa at the overseas bank;
2. use my debit card at an ATM, withdrawing $500 on six consecutive days;
3. make a $6k SWIFT wire transfer every other month
The monthly fees I can easily calculate are the visible ones:
1. cash advance fees 1% from Chase = $30
2. charges from my bank for each transaction, from the overseas bank as well, probably $30+ in total
3. about $25 to send and $10 to receive, but this is every other month only.
Number 2 is annoying. Number 3 sounds the cheapest, but will the exchange rate be as good as on the Amazon Visa (number 1)?
Thanks
finiki, the Canadian financial wiki: a knowledge base of financial subjects written from a Canadian perspective
Re: Best Credit Card
For 3 the wire transfer if you convert currencies in the process will be at the bank exchange rate. I don't think this is the reliable 2.5% on most Canadian credit cards, as it depends on the bank, possibly on the currency (lower for USD/EUR, more for less common currencies) and from some posts I've seen it's negotiable to some degree, depending on relationship with bank and amount. You probably have no choice but to ask your bank, but odds are it's of the order of 1.5%-2%. It will definitely be more than the Amazon visa card. I've transferred amounts by wire to fund oversea stays, but converted to the right currency first using the cheapest way I could find. There are various threads about this already.Quebec wrote:I have just received my Amazon.ca Visa card. I was attracted by the good forex rates and I intend to use the card mostly overseas and for my Amazon purchases (2% refund).
Let's say I need to transfer $3k from a Canadian bank account to an overseas bank account every month while travelling for 6 months (separate from any purchases made directly with my credit card). I can see 3 ways to do it:
1. Every month, pre-pay $3k to the Amazon Visa using 'bill payment' in my Canadian online banking, then ask for a cash advance on the Visa at the overseas bank;
2. use my debit card at an ATM, withdrawing $500 on six consecutive days;
3. make a $6k SWIFT wire transfer every other month
The monthly fees I can easily calculate are the visible ones:
1. cash advance fees 1% from Chase = $30
2. charges from my bank for each transaction, from the overseas bank as well, probably $30+ in total
3. about $25 to send and $10 to receive, but this is every other month only.
Number 2 is annoying. Number 3 sounds the cheapest, but will the exchange rate be as good as on the Amazon Visa (number 1)?
Thanks
Re: Best Credit Card
Do you have a foreign bank account? If you don't, Amazon VISA cash advances will beat out any other option. ATMs are also very convenient!
If you do, cheapest for "small" transfers would be TransferWise at 0.5% over neutral rates. From UK to Canada (bank to bank) there are no fees. Fees from Canada are here: https://transferwise.com/support/custom ... sfers#From
** edited to add link to fees from Canada (on the front page, Canada is not listed as a sending currency).
If you do, cheapest for "small" transfers would be TransferWise at 0.5% over neutral rates. From UK to Canada (bank to bank) there are no fees. Fees from Canada are here: https://transferwise.com/support/custom ... sfers#From
** edited to add link to fees from Canada (on the front page, Canada is not listed as a sending currency).
Peter
Patrick Hutber: Improvement means deterioration
Patrick Hutber: Improvement means deterioration