TDDI is continuing to bump their own TD rates up to the top of their 1 and 2 year charts, but stay down in the lowly reaches with their Big6 brethren on 3-5 years.

BMO must be awash in cash right, or scorn alien customers - they've dropped themselves distinctly below the rest of the Big6 on the TDDI charts, but offer better rates than the Big5 on their own BMOIL sheet (I have temporary access to a dormant BMOIL account). BMO 3-year is 2.50% on TDDI, other Big6 including TD are 2.85%, but on BMOIL the BMO rate is 3.30%. Home field advantage!

Even longer if EQB decides to keep President's Choice Bank going as they have with Concentra Bank.

I think liquid deposits are separately insured for 180 days after any consolidation but may be wrong on that.

Koogie said
I see today that PC Bank is offering 4.0% on a 5 year GIC (thru TDDI) same as EQ.

Maybe a sign they will be more competitive under new ownership ?  

Unlikely. Likely a temporary promotion, either for customer and deposit acquisition, or for liquidity purposes.

The transaction hasn't yet closed, but it is close to doing so (likely expected in June 2026). Integration into the EQ Bank platform should happen between July and December 2026, much quicker than everyone (myself included) expected.

I also suspect EQB Inc. will begin downsizing the number of CDIC member subsidiaries. They're a paying a lot of extra funding costs and administrative, legal, and compliance costs. They will likely begin with President's Choice Bank, amalgamating it into Equitable Bank most likely, making the deposits subject to merged deposit insurance rules.

Maybe a sign they will be more competitive under new ownership ?

Dean

https://www.theglobeandmail.co.....financial/ [login required]

countysaver said
I like the 2.75% interest on my Daily Cash and Savings accounts. Haven't made a deposit in more than a decade and withdraw cash from an ATM less than once a year. Also have a bricks&mortar bank that pays 0% on the spending account and 0.2% on Savings; 1.8% if I shuffle the funds to its investment savings brokerage account. I'm not into switching FIs every ninety days chasing bonus interest rates.  

I use EQ Personal as chequing and other FI's with promotional interest rates as savings. This way I get the benefit of the better-than-typical interest rate (the EQ payroll bonus rate) on my "chequing" balance while not having to switch FI's for banking activities to get the best interest on the rest of my savings (I DD my paycheck into EQ Personal and keep approximately how much I might need to spend in a month in it (so a good balance of time that would have been required transferring funds before spending it and the interest on all the money I own)). Just some ideas as trying to keep it simple like you but trying to get more interest.

Rather than spend the cash directly, it is better to deposit the cash, charge the purchases to a reward credit card, and then pay the credit card off later with the deposited cash.

The card terminals and credit card handling can be quite expensive for small businesses. One hair salon charges 10%+ for credit card payments. Clients usually pay cash as a result and the stylists take their share home each day in cash.

RetirEd said
Huh? I deposit cash or cheques at every ATM I try.  

I have never known anyone in recent years who has deposited cash at an ATM. Where would one get the cash from in the first place for deposit? I have not received cash in my hand for longer than I can remember.

I do remember the days when a cheque would be deposited at an ATM but that was before mobile phone deposit from the comfort of one's easy chair in pajamas. I am not sure I would remember how to do it any more as I understand it is now done without sticking it in an envelope, i.e. the ATM reads it. Correct?

AltaRed said
Cash deposits via ATM would seem to be extremely rare in recent years. I cannot remember the last time I ever did that - if ever actually. Deposits are made EFT online between FIs, or if a cheque, by mobile deposit via phone. I cannot imagine why any digital FI would even consider ATM deposit.  

Well, most ATMs don't accept deposits, you need to find one that does at a branch. I occasionally deposit at an ATM with my Alterna Bank card (any National Bank branch), it's a service that I appreciate.