EQ changing GIC cancellation term on May 5, 2018 | EQ Bank | Discussion forum | Canadian High Interest Savings Bank Accounts

Please consider registering
guest

Home

Discussion forum
sp_ArrowRight

EQ Bank

EQ changing GIC cancellation term on May 5, 2018

Topic RSS

EQ changing GIC cancellation term on May 5, 2018

April 5, 2018
2:05 pm

frugal lady

Member

Members

Forum Posts: 191

Member Since:
February 20, 2013

Offline

EQ is changing the right to cancel a GIC purchase to 1 day from effective purchase date (I believe it is currently 10 days)

July 4, 2018
3:58 pm

yesmath

Member

Members

Forum Posts: 18

Member Since:
October 10, 2017

Offline

Since they're open 7 days a week, if I buy on a Friday, does that mean I have until Sat 11:59pm for buyer's remorse?

July 4, 2018
5:46 pm

Norman1

Member

Members

Forum Posts: 6766

Member Since:
April 6, 2013

Offline

I don't think Saturday is a business day under their GIC Agreement:

…
Effective and Maturity Dates

For a purchase made on a business day, your GIC’s Effective Date will be the date of your purchase. For a purchase made on Saturday, Sunday, federal holiday or publicly-observed holiday in Ontario (non-business days), the Effective Date will be the next business day after the date of your purchase. You will be notified of the Effective Date at the time you purchase your GIC.

The Maturity Date of your GIC will be the day after your GIC Term ends. You will be notified of the Maturity Date at the time you purchase your GIC.

Note: Effective and Maturity Dates are based on Eastern Time; for example, a purchase made at 10:00 p.m. Pacific Time will be considered to be made at 1:00 a.m. Eastern Time the next day.
…

All RSS