parking US dollars
parking US dollars
I have been converting $CAN to $US . Is there anything that this can be parked in for 3 or 4 months?
Re: parking US dollars
Basically nothing as USD MMFs pay essentially zero in distributions. Your broker may have a USD HISA that might pay something. My Scotia iTrade Cash Optimizer account pays 0.35% for idle cash and that is probably as good as it gets for me.slim wrote:I have been converting $CAN to $US . Is there anything that this can be parked in for 3 or 4 months?
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Re: parking US dollars
I use a USD savings account at ING. It gives me 0.5%. Better than nothing.
Give a man a fish, and that man knows where to come for fish. Teach a man to fish, and you've just destroyed your market base.
1,1,2,1,3,2,3,1,4,3,5,2,5,3,4,1,5,4,1,5,4,7,3,8,5,7,2,7,5,....
1,1,2,1,3,2,3,1,4,3,5,2,5,3,4,1,5,4,1,5,4,7,3,8,5,7,2,7,5,....
Re: parking US dollars
Which means about $12.50 in interest for 3 months on a $10k deposit.
finiki, the Canadian financial wiki The go-to place to bolster your financial freedom
Re: parking US dollars
Yep, it sucks. But better than nothing!AltaRed wrote:Which means about $12.50 in interest for 3 months on a $10k deposit.
Give a man a fish, and that man knows where to come for fish. Teach a man to fish, and you've just destroyed your market base.
1,1,2,1,3,2,3,1,4,3,5,2,5,3,4,1,5,4,1,5,4,7,3,8,5,7,2,7,5,....
1,1,2,1,3,2,3,1,4,3,5,2,5,3,4,1,5,4,1,5,4,7,3,8,5,7,2,7,5,....
Re: parking US dollars
There are some US$ TD E-Funds, on average, you should get a pretty good return.
Re: parking US dollars
This is a real sore point with me too. I typically have around $50k tied up in USD accounts both in the US and Canada that pay almost nothing. This is money used for USD expenses and needs to be liquid. TD should try a little harder on this one. Their USD "savings" account(in Canada) pays 10bps I think. Their USD checking accounts in the US pay zero.
Re: parking US dollars
Actually, double, for their US$ ISA at TDW. Uncork the champagne!SQRT wrote:TD should try a little harder on this one. Their USD "savings" account(in Canada) pays 10bps I think.
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“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
Re: parking US dollars
Both TD bank US$ savings accounts interest rate is tiered.
Icici offers the highest HISA rate that I know of at 0.75% but I've heard too many horror stories to bother with them, especially for something not covered by CDIC.
Most of my US$ cash is sitting at ING(0.5%) with a smaller amount in a ENB rate reset pref that pays eligible dividends in US$.$0 to $999.99 0.00 %
$1,000 to $4,999.99 0.05 %
$5,000 to $24,999.99 0.10 %
$25,000 to $59,999.99 0.15 %
$60,000 and over 0.20%
Icici offers the highest HISA rate that I know of at 0.75% but I've heard too many horror stories to bother with them, especially for something not covered by CDIC.