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8:22 am
March 30, 2017
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10:33 am
September 11, 2013
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11:06 am
September 24, 2019
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12:58 pm
March 30, 2017
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Alexandra said
Ditto. thanks savemore for the heads up. Just transferred all funds out but $40.00 I think I will put all those funds into Hubert 1yr GIC with option of the quarterly payouts. I'll break them up so not all in the one GIC. This way there will be more options come May.![]()
yeah the Hubert is best place to put it with the 1y quarterly redeem feature, a no brainer
1:43 pm
January 1, 2018
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Thanks, smso ... been procrastinating about Hubert for far too long, so just started the online application process a few minutes ago. Once the back and forth is complete and I add myself as 'joint' will be pulling all but a small amount out of CT, and may eventually just close our Joint Acct there. Not impressed.
Looking forward to purchasing some of those 1yr flexible GICs at Hubert. 🙂
3:44 pm
December 20, 2019
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I cant figure out how to get my funds from Canadian Tire to Saven Financial.
Have spent the last 3 months trying to get the linking to work but Canadain Tire keeps blocking Saven. It connects, does all the standard stuff and then the account does not show up. I know it's not Saven because I linked 3 other financial institutions with no problems.
Now I have to move everything to simplii, wait for clearance and then to saven. It just sucks to do it that way.
5:44 pm
January 28, 2015
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6:13 pm
September 11, 2013
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5:04 am
February 1, 2016
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5:21 am
December 20, 2019
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Benjames35 said
I'm guessing they lowered it because they know the rate increases are coming and will probably raise it to 1.35% if the rates go up March 1.
That would be a pretty big misstep on their behalf because I am about to move out significant amounts. If there are more like me then that is a pretty big loss of investors.
Personally I have always disliked Canadian Tire and only moved funds there begrudgingly. Without a chequing account I have a hard time linking Canadian Tire and now with their 50k transfer limit the entire account has become too limiting for someone with significant funds.
Even the fact that they refuse to link with Saven although the hookups are all there is a terrible misstep by them. Seriously unless they make some drastic changes there is very little hope that I will return.
I have to say I really liked Motive because they had full service accounts with a great interest rate. They were a little slow setting up because most everything was manual but once you got going the services were excellent.
At this point I will take a smaller interest rate to make sure I actually have access to my funds. My god I cannot even write a cheque on my CTC account and unless I beg them on the phone how do I move my money?
I'm really starting to worry about this because as an investor if I don't have rapid access to my funds everything goes to pot.
5:24 am
December 20, 2019
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6:39 am
October 27, 2013
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Benjames35 said
I'm guessing they lowered it because they know the rate increases are coming and will probably raise it to 1.35% if the rates go up March 1.
I am guessing they lowered it because Canadians have been paying down credit card balances (savings rate supposedly way up in late 2021 vs pre-pandemic) and CT does not need as much float for their CC business.
7:46 am
September 11, 2013
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7:54 am
December 20, 2019
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Bill said
KamWest, I was able to do multiple $50K same day transfers from same account to my linked Big Bank account.
Thank you for that Bill but for me that would be a lot of transactions.
I have significant funds there and even it would require quite a few transactions making it no feasible for my needs.
The problem I have is I need an intermediate bank like simplii (which is linked) but tying up the funds there is a significant interest hit and always attracts a lot of attention.
I don't mind the bank asking those questions but I prefer to get the funds to the destination financial institution without having to bring it into an intermediate low interest big bank first.
Like I said... 3 months and I have not been able to get the funds to Saven, blocked by a technical issue on the CTC side every time. My Saven is all set up and I am a bit irritated seeing the interest rate is dropping again without me being able to move funds out.
With most other institutions I could cut a cheque to the receiving bank and be done with it.
8:37 am
March 30, 2017
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KamWest said
Thank you for that Bill but for me that would be a lot of transactions.
I have significant funds there and even it would require quite a few transactions making it no feasible for my needs.The problem I have is I need an intermediate bank like simplii (which is linked) but tying up the funds there is a significant interest hit and always attracts a lot of attention.
I don't mind the bank asking those questions but I prefer to get the funds to the destination financial institution without having to bring it into an intermediate low interest big bank first.
Like I said... 3 months and I have not been able to get the funds to Saven, blocked by a technical issue on the CTC side every time. My Saven is all set up and I am a bit irritated seeing the interest rate is dropping again without me being able to move funds out.
With most other institutions I could cut a cheque to the receiving bank and be done with it.
if u need a "lot" of $50k clip transactions to move money out, I will say while CT bank is safe in general, its not like the big 5 nor Tangerine when it comes to the ultimate safety. Certainly dont want to get caught in the middle like Lehman or Bear Stearns which were considered some of the most safe names, until $hit hits the fan....My nickel's worth of advice
9:19 am
January 1, 2018
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Bill said
Jim, you can just leave your CT account open with a buck in it, you never know. Mine had lain unused for several years before CT unexpectedly shot up the chart a couple of years or so ago.
yes, thanks Bill ... that's what I did. Wouldn't want to start over with 'snail mail' signup a 2nd time. 😉
... and that's assuming CT offers something worth our while going forward ??
9:21 am
February 7, 2019
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I've never banked with CT. I checked it out but their online banking was below par in my opinion. But I'm sure CT is safe. But, as a bank, it does have a CDIC limit of $100k per account holder.
If you'd feel more comfortable with more coverage, think Manitoba with 100% deposit insurance for their Credit Unions.
CGO |
9:29 am
December 20, 2019
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9:31 am
December 20, 2019
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cgouimet said
If you'd feel more comfortable with more coverage, think Manitoba with 100% deposit insurance for their Credit Unions.
I was thinking that but the setup process seems cumbersome, then there is the whole merger thing etc.
I thought Saven for the rates until the merger at Hubert and then if they hold the rates move it there for the deposit protection.
Please write your comments in the forum.