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Savings Plus 1.50%
April 11, 2022
4:27 am
hwyc
GTA
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1.50% (was 1.25%) Savings Plus, TFSA Savings & RRSP Savings on EQ

... US Dollar Account remains 1.00%
… GIC rates seen up as well 🙂

April 11, 2022
7:12 am
Alexandre
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This is great and puts EQ Savings in the top three in HISA chart as of today, but their 3-months GIC actually went down from 2.05% to 2.00%.

April 11, 2022
7:25 am
rodeworthy
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hwyc said
1.50% (was 1.25%) Savings Plus, TFSA Savings & RRSP Savings on EQ

... US Dollar Account remains 1.00%
… GIC rates seen up as well 🙂  

Nice timing, our EQB TFSA GICs mature tomorrow. The proceeds will sit in TFSA Savings Plus accounts waiting to see what happens on Apr 13 and Jun 1 with respect to rates. I appreciate the extra 1/4% while we wait.

Now, if we could only get EQ interested in offering joint GICs....

April 11, 2022
7:56 am
cgouimet
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Alexandre said
This is great and puts EQ Savings in the top three in HISA chart as of today, but their 3-months GIC actually went down from 2.05% to 2.00%.  

A few weeks ago ...

CGO
April 11, 2022
1:13 pm
Alexandre
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cgouimet said

A few weeks ago ...  

True. Still, for someone like me with 2.05% 3 months GIC maturing soon, I now have an option to keep my money in 1.5% Savings or get 2.00% 3 months GIC.

Ironically, both options mean I'll be making less, with EQ rates up in general.

April 11, 2022
1:25 pm
RYAN
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EQ is so far the best online banking in my opinion considering rates, product variaty, banking features, web site interaction. I have been with EQ for years and never needed to call them for help. It's my primary bank among Tangerine, Motive, People's Trust, Alterna.

April 11, 2022
1:27 pm
cgouimet
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RYAN said
EQ is so far the best online banking in my opinion considering rates, product variaty, banking features, web site interaction. I have been with EQ for years and never needed to call them for help. It's my primary bank among Tangerine, Motive, People's Trust, Alterna.  

Except for $ transfers. Incredibly slow ...

CGO
April 11, 2022
1:43 pm
AltaRed
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cgouimet said

Except for $ transfers. Incredibly slow ...  

Really? I just did a EQ to Scotia transfer earlier last week. It was same business day! I did one the prior week as well and it was 'next day' in my Scotia account.

EQ Bank is my 'go to' for most everything.

April 11, 2022
2:05 pm
cgouimet
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AltaRed said

Really? I just did a EQ to Scotia transfer earlier last week. It was same business day! I did one the prior week as well and it was 'next day' in my Scotia account.

EQ Bank is my 'go to' for most everything.  

What about pulling into eq or sending to eq. How long before funds are available?

CGO
April 11, 2022
4:46 pm
AltaRed
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cgouimet said

What about pulling into eq or sending to eq. How long before funds are available?  

Any funds I pull into EQ just stay in Savings Plus so I wouldn't know.

April 12, 2022
4:09 am
cgouimet
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AltaRed said

Any funds I pull into EQ just stay in Savings Plus so I wouldn't know.  

You can see on EQ Bank online when funds show in your balance and typically, in my experience, become available 6-7 business days later. For example, I triggered a transfer in EQ Bank drawing from Tangerine on Apr 5. Funds left Tangerine very early AM on Apr 6 and according to EQ Bank online will be available for use on Apr 13.

CGO
April 12, 2022
7:31 am
MG
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cgouimet said

You can see on EQ Bank online when funds show in your balance and typically, in my experience, become available 6-7 business days later.  

Yes, but you are already getting the EQ Bank interest from the day the funds show in your balance (basically immediately) - you just can't move it out for 5 business days.

April 12, 2022
8:07 am
cgouimet
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MG said

cgouimet said

You can see on EQ Bank online when funds show in your balance and typically, in my experience, become available 6-7 business days later.  

Yes, but you are already getting the EQ Bank interest from the day the funds show in your balance (basically immediately) - you just can't move it out for 5 business days.  

Or buy GIC's ...

CGO
April 12, 2022
8:38 am
AltaRed
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Kind of hard to be upset about a 5 (business) day hold getting 1.5% interest in the meantime. Holds of various types are not that unusual. Your point was misleading though. The transfer itself was quick enough - it is the 'hold' you seem to be upset about.

April 12, 2022
9:40 am
cgouimet
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AltaRed said
Kind of hard to be upset about a 5 (business) day hold getting 1.5% interest in the meantime. Holds of various types are not that unusual. Your point was misleading though. The transfer itself was quick enough - it is the 'hold' you seem to be upset about.  

I can move $ to Tangerine or Hubert today and buy a GIC tomorrow.

I can't do that at EQ (or Oaken); they won't lift the hold even if I call because I want to buy a GIC ...

That's all I was trying to get at ...

CGO
April 12, 2022
4:26 pm
frugal lady
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cgouimet said

I can move $ to Tangerine or Hubert today and buy a GIC tomorrow.

I can't do that at EQ (or Oaken); they won't lift the hold even if I call because I want to buy a GIC ...

That's all I was trying to get at ...  

Why don't you push funds into EQ and then can buy GIC next day. No hold when I push into EQ.

April 12, 2022
4:45 pm
Dean
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frugal lady said

Why don't you push funds into EQ and then can buy GIC next day. No hold when I push into EQ.  

    What Frugal Lady said

'Push' into EQ, and your good to go ❗

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

April 12, 2022
4:50 pm
smayer97
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cgouimet said

I can move $ to Tangerine or Hubert today and buy a GIC tomorrow.

I can't do that at EQ (or Oaken); they won't lift the hold even if I call because I want to buy a GIC ...

That's all I was trying to get at ...  

No, but in the past you could call in to EQ and request that they honour a GIC rate. The way I was explained to do it is to buy the GIC at the current rate, then call in to request that the rate you were interested in be applied. If the money was in your account while that rate was in effect, I have been told they will honour it by applied the extra interest.

I would confirm with EQ if they still allow this.

April 12, 2022
5:07 pm
cgouimet
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I did make that call to EQ but they wouldn't let me use the funds for a GIC until the hold lifted.

CGO
April 12, 2022
6:18 pm
smayer97
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You misunderstand. The strategy is to wait for the hold to lift, buy the GIC at the then current rate (presumably a lower one), contact EQ to get them to honour the previous GIC rate (presumably a higher one) by showing them the funds were in your account in time for that purpose.

You can call ahead to confirm if they still do this.

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