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EQ Bank - 3.33 % for 3 month GIC
January 2, 2019
2:16 pm
Loonie
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Nothing doing yet. I just checked. It's after 5 pm in Toronto.

Has anyone else besides Norman1 rec'd this and in a timely fashion?

January 3, 2019
1:07 pm
ertyu
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Loonie said
Nothing doing yet. I just checked. It's after 5 pm in Toronto.

Has anyone else besides Norman1 rec'd this and in a timely fashion?  

Just got my Goodwill Gesture, it was a little more than a week of business days, but given all the holidays, reasonable.

January 3, 2019
7:17 pm
Loonie
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thanks for the report, ertyu.
I 'll check later. their website is currently undergoing maintenance.

January 3, 2019
10:28 pm
Loonie
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My "Goodwill" funds have finally arrived!
It only took 14 days!
I think they must be on the "Tangerine plan", where Dec 24 and Dec 30 were not considered "banking days". even though they were open for business. That would reduce the 14 days to 5.

Next challenge will be to make sure they don't roll the funds over when they mature. Has anyone asked them about this yet? I'm guessing the default will be a rollover.

January 4, 2019
6:53 am
Norman1
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Loonie said
My "Goodwill" funds have finally arrived!
It only took 14 days!
I think they must be on the "Tangerine plan", where Dec 24 and Dec 30 were not considered "banking days". even though they were open for business. That would reduce the 14 days to 5.

Next challenge will be to make sure they don't roll the funds over when they mature. Has anyone asked them about this yet? I'm guessing the default will be a rollover.  

Glad to hear that your "Goodwill Gesture" deposit arrived.

December 24 and 31 were business days for the banks. But, staffing and hours may have been reduced.

According to the EQ Bank GIC agreement, there won't be a rollover at maturity:

Treatment at Maturity

On the Maturity Date, the principal and any accrued interest on your investment that has not already been paid to you will be deposited to the EQ Bank Savings Plus Account from which your initial investment was funded. In cases where the Maturity Date falls on a non-business day, there may be limitations on what you can do with the deposited funds until the next business day.

January 4, 2019
6:43 pm
Loonie
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thanks, Norman. That is reassuring. One less thing to fuss about.

My complaint was really with the CSR who initially promised me "five days" and brightly added "it might not take that long". Good thing I wasn't depending on this little bit of money!

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