TFSA fund transfer from Hubert to EQ | Page 3 | EQ Bank | Discussion forum

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TFSA fund transfer from Hubert to EQ
January 27, 2021
3:31 pm
davidgeorge
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Finally, my fund arrived and was posted to my EQ account today.

January 27, 2021
3:43 pm
Rick
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davidgeorge said
Finally, my fund arrived and was posted to my EQ account today.  

3 weeks....that's actually pretty good time.

January 28, 2021
9:28 am
gicjunkie
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Rick said

3 weeks....that's actually pretty good time.  

This whole process took way too long. I'll bet EQ had the money and deposited in their account 2 weeks ago. Problem is that you'll never know because the cheque came from Hubert, not the investor. To EQ it was free money. I went through this a few months ago, transfering TFSA money from Hubert to another Ontario credit union. It took a week. EQ should backdate the interest. This so-called "service" is pathetic.

January 28, 2021
10:42 am
archangel
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As my Hubert TFSA GICs matured Jan 01, 2021, I, too, was trapped in the had-to-transfer-instead-of-Dec-withrawal club. When I initiated transfer, on Jan 02, and saw that it was sent via snail-mail-cheque, I did a smelled-the-fart face. That said, it arrived Jan 27, in EQ TFSA...to which I immediately moved it to 3m GIC; even though they are the same rate (2.30%) as savings, we all know where that rate is going. Note: In EQ alerts - they are separated by investment, so add alerts to your TFSA for deposits, and you should get notified, by email, when that cheque is deposited. I lost x # of days of interest, from when cheque was mailed, to delivery and input into EQ, but Hubert has gotten out of the "competitive club", so the 2.30% should get me back to black shortly enough. And I do really like the 3m GIC thing, so I can 3x3 for a year, and then decide where I'm going from there, so that a Dec withdrawal is possible, so don't have to deal with transfer crap, though, this was relatively painless, despite being stuck in the 1920s snail-mail slowness.

January 29, 2021
4:58 am
Barb.
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I had 2 TFSA GICs with Achieva - one due Jan.4/21, the other Jan.21/21. The funds from the Jan. 4 one were finally deposited by EQ Jan. 27. I promptly bought a 3-mo GIC. When the other one arrives, hopefully within the next few weeks, I'll do the same. I agree with archangel on the 3-mo GIC. Better a guaranteed rate for at least 3 months. Given how slow Cda.Post is these days, I'm not sure EQ's been sitting on the $$. Going to be interesting come March/April when all these TFSA EQ GICs come due.

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