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8:50 pm
May 15, 2007
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This is a highly detailed chart on the services offered by various Canadian high interest savings accounts. It seems timely as these financial institutions are starting to offer fuller service options to compete with the big banks.
It is produced and maintained by an anonymous forum visitor (who is not affiliated with any financial institutions):
http://www.highinterestsavings…..ngs-banks/
Please share your thoughts and feedback in this thread!
8:54 am
Peter said:
This is a highly detailed chart on the services offered by various Canadian high interest savings accounts. It seems timely as these financial institutions are starting to offer fuller service options to compete with the big banks.
It is produced and maintained by an anonymous forum visitor (who is not affiliated with any financial institutions):
http://www.highinterestsavings…..ngs-banks/
Please share your thoughts and feedback in this thread!
Looks Good! Would be nice to see:
What provinces do they accept customers from.
What provinces are they legally allowed to attract customer from.
Is early redemption allowed for GIC's and if so any penalty
Who is the backbone if any.
8:55 am
Why does ING have fees specified under interac access is this for INTL use? I am confused..
9:22 am
August 19, 2011
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With ING – if you look at their web site (click on ING on the Comparison chart) there is a page with all the fees. There are fees if you are using ABM withdrawals outside of the ING Exchange Network.
9:12 am
There appears to be an error for AcceleRate Financial – they don't offer Lines of Credit.
1:30 pm
February 23, 2013
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Just a heads up…People's Trust DOES have Online Banking.
5:59 am
January 9, 2011
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Would be nice to have a column to indicate which are covered by CDIC insurance.
4:18 pm
December 12, 2009
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Good suggestion. I'd also like to see the "services chart" cleaned up a bit, to remove some of the excess, under-utilized information (it's the most "cluttered" of the various charts) and, to increase the timeliness of its information, how about converting it to a Google Docs spreadsheet with assigned contributors/managers and then embedding it on the site (like the "free chequing" chart)?
Cheers,
Doug
11:10 am
December 23, 2011
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Doug said
Good suggestion. I'd also like to see the "services chart" cleaned up a bit, to remove some of the excess, under-utilized information (it's the most "cluttered" of the various charts) and, to increase the timeliness of its information, how about converting it to a Google Docs spreadsheet with assigned contributors/managers and then embedding it on the site (like the "free chequing" chart)?
Cheers,
Doug
Could there also be a column for teaser rates have been offered, added?
11:43 am
December 12, 2009
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Not sure I like the "teaser" rate column…I hate those things and can't fathom why people take advantage of these – especially in "registered" accounts where you are somewhat tied-in! 
Cheers,
Doug
12:37 pm
December 23, 2011
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Doug said
Not sure I like the "teaser" rate column…I hate those things and can't fathom why people take advantage of these – especially in "registered" accounts where you are somewhat tied-in!
Cheers,
Doug
ummm. I was not thinking that way of WANTING a teaser rate. I was thinking if a CU or Bank had offered teasers in the past to mention that they have done so and what Month/Year they did. Build some history … it would be a way of ELIMINATING who you may want to deal with. As it appears to me that it is mainly Hubert, and any of the other House Name banks backed by one of the major banks like PC, CANADIAN TIRE, ETC. that have offered teasers.
Does that not make sense to track?
12:46 pm
February 22, 2013
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Teaser rates are something I ignore — unless there is an easy way in and out. Nine months ago BMO was offering a $350 premium payment for $10,000 deposited into a new HISA and left there for 9 months. My wife and I both opened accounts and that made the effective interest rate something like 5.9%. The first half payment was paid 4 or so months ago and the second one is due by April 30th.
The money was able to be moved out February 28th and I am waiting till my Implicity account gets opened to move it there.
Greg
3:13 pm
December 12, 2009
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kanaka said
ummm. I was not thinking that way of WANTING a teaser rate. I was thinking if a CU or Bank had offered teasers in the past to mention that they have done so and what Month/Year they did. Build some history … it would be a way of ELIMINATING who you may want to deal with. As it appears to me that it is mainly Hubert, and any of the other House Name banks backed by one of the major banks like PC, CANADIAN TIRE, ETC. that have offered teasers.Does that not make sense to track?
hey kanaka,
Oh, okay, I misread what you were after.
Two things: I'm fine with potentially tracking "promotional, limited-time bonus offers" as "teaser rates". However, in Hubert's case, they've never offered "teaser rates". What Hubert has a track record of doing (and now Achieva Financial) is hiking and lowering rates on a whim with no regard to market conditions and their competitors. That's something different, albeit a similar business practice with the same net result as "teaser rates", that I think we should call "rate stability score" (a proprietary ranking assigned by the site/chart administrator(s) whereby 10 is a perfect score and 0 is the lowest in terms of maintaining rates and only adjusting as the market/competitive forces dictate.
Second: The "comparison chart" does track the regular rate history already. Click on the "rate" question mark ("?") to view.
Cheers,
Doug
4:10 pm
December 23, 2011
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Doug said
kanaka said
ummm. I was not thinking that way of WANTING a teaser rate. I was thinking if a CU or Bank had offered teasers in the past to mention that they have done so and what Month/Year they did. Build some history … it would be a way of ELIMINATING who you may want to deal with. As it appears to me that it is mainly Hubert, and any of the other House Name banks backed by one of the major banks like PC, CANADIAN TIRE, ETC. that have offered teasers.Does that not make sense to track?
hey kanaka,
Oh, okay, I misread what you were after.
Two things: I'm fine with potentially tracking "promotional, limited-time bonus offers" as "teaser rates". However, in Hubert's case, they've never offered "teaser rates". What Hubert has a track record of doing (and now Achieva Financial) is hiking and lowering rates on a whim with no regard to market conditions and their competitors. That's something different, albeit a similar business practice with the same net result as "teaser rates", that I think we should call "rate stability score" (a proprietary ranking assigned by the site/chart administrator(s) whereby 10 is a perfect score and 0 is the lowest in terms of maintaining rates and only adjusting as the market/competitive forces dictate.
Second: The "comparison chart" does track the regular rate history already. Click on the "rate" question mark ("?") to view.
Cheers,
Doug
Hi Doug.
I realize the rates are posted. Call it teaser, promotional or changed on a whim. If there was some standard to gauge that type of rates that shows some one offered an outstanding rate to gain customers or what ever and then change them in 2-6 months while the others did not make any changes …. those institutions should be acknowledged as having unreliable rates. I realize this is not a simple task and needs a standard of measure. This could be too complicated to be bothered with…..just an idea.
4:14 pm
December 12, 2009
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Yeah, it's a good idea, kanaka. We should definitely track them as "teaser/promo" rates as well as the stability of their posted rates somehow.
Checked out your personal website – cool that you do stained glass! Very talented. 
Cheers,
Doug
5:26 pm
May 15, 2007
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Teaser rates probably irk me as much (or more) as everyone else. However, I think that we have to allow people to use the rate history to determine for themselves what are teaser rates because everybody probably has a different standard. We can use the forums to discuss our opinions.
As for the services chart, I agree that it needs to be updated and I would love to make it a Google doc so that we can share in the work to update it. However, I'll have to contact the original author to OK such a plan first!
9:57 pm
December 12, 2009
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Sounds good, Peter. The original author could be one of several contributors to the "services chart" as well.
As for "teaser/promotional" rates and rate adjustments, I agree the "rate history" probably works the best.
We can always discuss on the forums our opinions.
Cheers,
Doug
9:56 pm
May 15, 2007
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I've converted the services chart to a Google doc and added Doug as an editor. I've also invited the original author to be an editor as well.
If anybody else wants to help update and maintain the chart, please send me a private message via the forum tools with your Google accounts e-mail address. Thanks!
7:11 am
December 12, 2009
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Good job integrating the "services chart" into the Google doc, Peter.
Like you said, it's good to have more editors/contributors to it as it helps to keep it that much more updated and they can bounce suggestions back and forth (as well as accept corrections/suggestions) from the forum members via this forum thread.
Cheers,
Doug
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