ig17 wrote: ↑03 May 2017 15:21
I got the same offer as Adrian. 2.5%
Do "new deposits" include cash transfers from an existing TFSA ?
See the small print above:
Promotional Interest will not be paid on existing funds that were in a PC Financial Account as at April 30, 2017, and are transferred to an Eligible Account.
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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]
ig17 wrote: ↑03 May 2017 15:21
I got the same offer as Adrian. 2.5%
Do "new deposits" include cash transfers from an existing TFSA ?
See the small print above:
Promotional Interest will not be paid on existing funds that were in a PC Financial Account as at April 30, 2017, and are transferred to an Eligible Account.
Yes, I missed that part. My email includes the same condition.
I, too, got the 2.5% offer. I will take advantage of it and see if Tangerine is interested in matching or bettering the terms. If not, I'll withdraw the money I recently deposited with them.
deaddog wrote: ↑04 May 2017 13:07
Did the guys that were offered 2.5 have larger accounts
Currently at $0, larger balances in the past, now at Tangerine.
finiki, the Canadian financial wiki
“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]
FWIW, I pulled my funds 2 days before end of the last promo (Dec 31).... almost $75k. Also have and use PC Points card. No idea how and who they are targeting or why. Hence the game is over for me.
I got the 2.5% offer. Seems just as random as Tangerine's promotions. I have had a zero balance in my Interest Plus account for over 20 months.
" A verbal contract isn't worth the paper it is written on " Samuel Goldwyn
"The light at the end of the tunnel may be a freight train coming your way" Metallica - No Leaf Clover
Do "new deposits" include cash transfers from an existing TFSA ?
See the small print above:
Promotional Interest will not be paid on existing funds that were in a PC Financial Account as at April 30, 2017, and are transferred to an Eligible Account.
Yes, I missed that part. My email includes the same condition.
Not sure I worded my question correctly. I have an open PCF account which held my TFSA a long time ago. Two years ago, I withdrew all my TFSA cash from PCF but left the account open with a 0.01 balance. If I transferred my current TFSA (with Tangerine) back to PCF, would that qualify as a "new deposit" ?
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optionable68 wrote: ↑04 May 2017 19:56
Not sure I worded my question correctly. I have an open PCF account which held my TFSA a long time ago. Two years ago, I withdrew all my TFSA cash from PCF but left the account open with a 0.01 balance. If I transferred my current TFSA (with Tangerine) back to PCF, would that qualify as a "new deposit" ?
TFSA to TFSA transfer wouldn't qualify. The offer targets non-reg account.
optionable68 wrote: ↑04 May 2017 19:56
Not sure I worded my question correctly. I have an open PCF account which held my TFSA a long time ago. Two years ago, I withdrew all my TFSA cash from PCF but left the account open with a 0.01 balance. If I transferred my current TFSA (with Tangerine) back to PCF, would that qualify as a "new deposit" ?
TFSA to TFSA transfer wouldn't qualify. The offer targets non-reg account.
I see no such restriction. Transferring from PCF Savings to PCF TFSA does not quality.
2of3aintbad wrote: ↑04 May 2017 20:09
I see no such restriction. Transferring from PCF Savings to PCF TFSA does not quality.
My email says:
"Now is a great time to have a President’s Choice Financial® Interest Plus Savings Account (IPSA). Enrol to take advantage of 2.5%* interest on all new deposits until August 31, 2017."
InterestPlus is a non-reg account.
The restriction is also right there in the title of terms and conditions:
2of3aintbad wrote: ↑04 May 2017 20:09
I see no such restriction. Transferring from PCF Savings to PCF TFSA does not quality.
My email says:
"Now is a great time to have a President’s Choice Financial® Interest Plus Savings Account (IPSA). Enrol to take advantage of 2.5%* interest on all new deposits until August 31, 2017."
InterestPlus is a non-reg account.
The restriction is also right there in the title of terms and conditions:
As part of our commitment to making customers the first to know about our rate changes, please note that effective Monday, May 15, 2017, we'll be increasing our interest rates for the following terms:
1 Year GIC – 2.10% (currently 2.00%)
18 Month GIC – 2.20% (currently 2.10%)
2 Year GIC – 2.30% (currently 2.20%)
3 Year GIC – 2.40% (currently 2.30%)
4 Year GIC – 2.50% (currently 2.40%)
5 Year GIC – 2.60% (currently 2.50%)
These new rates will be applied automatically for all GICs booked on May 8, 2017 or later.
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
What's unclear to me is if these rates also apply to RRSP certificates. Nice touch to apply the higher rate to the past weeks' renewals and new GIC purchases (in any). I'm very close to the CDIC limit in registered and unregistered GICS with Oaken and Home Trust. If there hadn't been a battle between HISA rivals, Tangerine and PC Financial, I might have squeezed out another GIC with Oaken.
However, I'm getting 2.5% at PC Financial until the end of August. There's no reason to move it to Oaken and lock in, given the uncertainty of the current situation, especially when I have a competitive rate PLUS liquidity for another 3 1/2 months.
I have not taken any $$ out of HCG institutions and don't plan to. I am sleeping well.
BRIAN5000 wrote: ↑12 May 2017 17:47
As part of our commitment to making customers the first to know about our rate changes, please note that effective Monday, May 15, 2017, we'll be increasing our interest rates for the following terms:
In the future, please include the name of the institution from which you're quoting rates.
In this case, Pickles has made it clear it's Oaken.
finiki, the Canadian financial wiki
“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]
Thanks, Adrian. I was so close to being the first to post the new rates for Oaken, that I didn't notice Brian forgot to add the providers name to the new rates. Good for him, though, for including the current rates for comparison!
"Earn 2.5%* interest tax-free on new TFSA deposits until August 31, 2017."
I`ve grown a bit weary of chasing Tangerine for short term rates. Moving my TFSA to iTrade - will buy 2 low cost ETFs and let it ride.
"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?"
So, Oaken's rates are quite a bit above everyone else's now. Who's buying? For RRSPs, the main issue for me is the uncertainty of the timeframe from CDIC action to it showing up in my account. It would be nice if they could provide some kind of a reasonable time goal deadline (as they have with non-registered accounts). For all I know, it could take several months between the time a GIC is paid out until it shows up in my account.