TD Waterhouse, on margin accounts, does not pay or charge interest when the monthly interest is less than $5.CROCKD wrote: ↑10 Apr 2017 14:49 Most months the interest is only in the order of $1-$2 little enough I know. I was not paid any interest for March. When I enquired I was told that as it was less than $0.75 they don't pay interest. (I calculated it as $0.63)
I have challenged them to show me where on their documentation it states this limitation on interest paid. So far I have not received a call back.
Look after the pennies and the pounds will look after themselves
They do pay even a few cents in registered accounts (no margin allowed there).
On the other side of the coin, the balance in my Tangerine US$ account was so low that the monthly interest was below one cent.
However, internally they were calculating with a higher precision so every so many months they would pay a penny accumulated from many fractions.