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Saving Plus 2%
September 6, 2022
4:03 am
hwyc
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All CAD savings 2% (was 1.65%) … & I thought there was a typo.

Yet an increase is an increase sf-confused

September 6, 2022
6:32 am
Alexandre
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I see that, too, in my EQ account. It is not much, but better than nothing. Thanks, EQ Bank!

September 6, 2022
7:36 am
iotama
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Thanks, but no thanks.

Wake me when they're above 3.25% and then I might run a few checks to see if I want to push pull some levers sf-smile

September 6, 2022
7:51 am
lifeonanisland
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I saw this in my inbox this morning. I laughed.

September 6, 2022
9:03 am
dougjp
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I viewed it as a worse indication of where they want to be in the future than before when it was 1.65%.

I thought the 1.65% was sort of a "legacy" obsolete rate that they just hadn't got around to changing, given that rates aren't usually changed that frequently. But this change to a noncompetitive rate, and just days before the BofC likely raises again too, suggests they aren't going to be in the game for some time yet, if at all.

There are 3 kinds of people: those who can count & those who can't.

September 6, 2022
9:47 am
Dean
Valhalla Mountains, British Columbia
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lifeonanisland said

I saw this in my inbox this morning. I laughed.  

I Chuckled sf-laugh

    Dean

P.S.
Once one of the Top interest payers in the Biz,
EQ is now just one of the many 'Also Rans'. sf-confused

sf-cool " Live Long And Prosper " sf-cool

September 6, 2022
1:15 pm
Fogoguy
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iotama said
Thanks, but no thanks.

Wake me when they're above 3.25% and then I might run a few checks to see if I want to push pull some levers sf-smile  

I'm glad that I pulled every last cent out of my EQ HISA's a few weeks back. I just knew that if/when they ever did finally get around to an interest hike, it certainly wasn't going to even come close to the 3% I'm currently getting at Motive. Hopefully next summer I'll be able to get a competitive rate on my EQ GIC's once again, but if not, I won't hesitate to switch to where I will get the best rate. (sigh... and I used to be so happy with EQ sf-cry)

September 6, 2022
2:14 pm
pooreva
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Fogoguy said
(sigh... and I used to be so happy with EQ sf-cry)  

And many others used to be 'so happy' with ING and TFSA rate at People's Trust and... and... nothing lasts forever. Take it NOW while you can.

September 6, 2022
3:37 pm
RaySee
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I've noticed as the BoC has been raising rates, EQ will bump their rates the day before an expected hike from the BoC. This makes it seem like they're being proactive, but they are actually one step behind. Tomorrow rates will go up by 75-points and EQ will fall behind again.

September 6, 2022
4:00 pm
dougjp
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pooreva said

And many others used to be 'so happy' with ING and TFSA rate at People's Trust and... and... nothing lasts forever. Take it NOW while you can.  

+1.

Many of us remember Motive not being in the game for so long, and not so long ago either. And remember CT Financial, the unforgettable a few years ago - trust me " this is not a promotional rate" ! sf-frown

Many of us over the years continue to search for consistent top competitive banks that don't play the " how much will the inattentive give us major gross Profit margins by not paying attention and leaving money with us at noncompetitive rates when we leave the table" game. Not to be found, I'm sorry to say.

Therefore it continues to be up to us to remain vigilant and move money out ASAP when "it" starts to happen. They couldn't care less, the marketing machine will still try the "spin", like 200% more than other banks!!!

I admit to getting tired of this #@ though.

There are 3 kinds of people: those who can count & those who can't.

September 6, 2022
5:34 pm
hwyc
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One for those who's not on twitter sf-wink

Screenshot_2022-09-06-20-25-47-935_com.twitter.android.jpg

September 6, 2022
6:11 pm
lifeonanisland
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hwyc said
One for those who's not on twitter sf-wink

Now that made me laugh. Has EQ Bank been reduced to a laughingstock?

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