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Brokerage investment savings accounts
September 10, 2023
5:27 am
savemoresaveoften
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whether it shows as accrued or not is irrelevant for me. i know i will receive what i am supposed to receive on payment date / maturity.
its almost like M2M your stock portfolio each day, its somewhat meaningless.

September 10, 2023
7:32 am
AltaRed
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Accrued values on compound GICs are nice to see only from a portfolio/net worth perspective from time to time, assuming for example, someone has $1M or so in a 5 year GIC ladder of compound GICs, but I agree there is no real other purpose.

September 10, 2023
8:29 am
fsabbagh
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Bill said
Correct, I have a CIBC Investors Edge accounts and that's how you buy DYN A series ISAs, as if they were mutual funds. If I recall correctly I tried once to buy F series but was unable to.  

Hi, I just put in an order to buy DYN6000 on CIBC IE and the Load was "None". When I put the order for DYN6001, the load stated "Front end". Am I going to be charged?

September 10, 2023
8:47 am
AltaRed
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I doubt it, but does CIBC IE not give you a 'review' page that shows whether there is commission or not before you press 'confirm' or something like that? I suspect that is just a glitch in the system since Front End can also mean $0 too.

Call them Monday morning to confirm if you are not prepared to test the system.

September 11, 2023
12:56 pm
rodeworthy
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My apologies for not responding earlier to the many thoughtful responses to my query about ‘unrealized gain’ on a GIC at BMO Investorline.

My excuse:
Very late on Friday night of Labour Day long weekend I discovered our 6-year old refrigerator had stopped cooling. Believe me, that can really take your attention away from any other matters.

We had a week of doing our best to salvage food, analyze the problem, seek help, swapping freezer gel packs to a myriad of coolers and waiting for a repairman to rescue us. That repair (replaced compressor) happened Fri. Sep 8. Things are pretty much back to normal there now.

So back to financial matters.

CPD - For sure that stands for Compound Interest as opposed to ANN – Annual interest.

DUH!! I had a senior moment on that one. I was trying to find C “something” Paid Daily to rationalize the strange adjustment.

A conversation with a CSR at Investorline has not confirmed the reason for the unrealized gain amount. Seems he was as confused as I was. Our thought is: it is related to interest to the end of the month. He promised to get back to me but I have not received any reply yet.

Using my homebrew interest calculator, I came up with the following:
Int-Calc-BMO-Trust-GIC.gif

This, of course is based on interest calculated daily and I am not aware if that is correct or is it really simple interest that IL uses.

The $96.78 comes up a bit short of the $101.50 that the Principal was increased by. Using 14 days puts it over that mark to $104.24.

I have decided this adjustment is ‘interest’ and I will record it in my records that way. This allows my records to match Investorline’s and that is the important part. I regularly compare my records to all my investments and I need them to match. It will be interesting to see if there is another adjustment at the end of September.

The only other agency I know that reports interest on a daily basis is Oaken Financial. The value of GICs including accrued interest is reported daily at Oaken. When I first encountered this, I was very frustrated. I developed a spreadsheet routine to simplify the verification process and for a while I checked it daily. That got old in a hurry. The spreadsheet works to validate my records without this intensity.

So, thanks to all who responded. If I hear further from IL I will post it here.

Additional Note:
I messed up on my first GIC purchases by not paying attention to the ANN vs CPD feature. For sure, I would have wanted all the multi-year GICs to be compounded with interest added to the principal each year. Live and learn.

September 22, 2023
7:14 pm
Norman1
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Since last update, Manulife Bank reduced its rate (effective September 15):

ISA (Canadian Dollars) Rate
BMO High Interest Savings Account (BMT104) 4.75%
Scotiabank Investment Savings Account, Series A (DYN6000)
Equitable High Interest Savings Account, Series A (EQB1000) 4.65%
Home Trust High Interest Savings Account, Class A (HOM100)
Manulife Bank Investment Savings Account (MIP510) 4.60%
B2B Bank HIIA, Series A (BTB100) 4.55%
NBI Altamira CashPerformer Account, Series A (NBC100)
RBC Investment Savings Account, Series A (RBF2010)
Renaissance High Interest Savings Account, Series A (ATL5000)
TD Investment Savings Account, Series A (TDB8150)
September 24, 2023
1:04 pm
procavia
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Would people be interested in a website that displays updated rates with all these funds, and maybe sends email notifications when they change? It could let you filter by A vs F series, CAD vs USD as well.

September 24, 2023
1:52 pm
realtalk
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procavia said
Would people be interested in a website that displays updated rates with all these funds, and maybe sends email notifications when they change? It could let you filter by A vs F series, CAD vs USD as well.  

Yes, most of us are here primarily for Norman's updates. Let us know when you build it.

September 27, 2023
5:29 pm
rodeworthy
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Sept. 6 - rodeworthy said
Previously, I opened GICs in my RIF account with BMOIL and selected 'Bank of Montreal' as the provider. Those GICs are active and are reported as expected. They are listed as "BMO GIC ANN" in my holdings list.

On August 18 I opened another GIC in the same account but this time I chose 'BMO Trust' as the provider. A few days later - around Aug 25, I noticed IL reporting the value of that investment had increased by 0.02%. It remains at that value to this day. I don't know where this increased 'value' comes from and don't know if it is a variable amount that can go up or down.

Sept. 11 - rodeworthy said

A conversation with a CSR at Investorline has not confirmed the reason for the unrealized gain amount. Seems he was as confused as I was. Our thought is: it is related to interest to the end of the month. He promised to get back to me but I have not received any reply yet.

The mystery continues. On or around September 27 (about a month after the first adjustment to the value of the BMO Trust GIC) an additional adjustment has been made to the BMO Trust GIC bringing the total increase in 'Value' to +0.64%. Appears this will be ongoing. I still don't know how to categorize it but I am logging it as 'interest' so my records match Investorline's. This is a new one to me for a GIC.

October 14, 2023
7:30 am
Norman1
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Since last update, rates have been stable:

ISA (Canadian Dollars) Rate
BMO High Interest Savings Account (BMT104) 4.75%
Scotiabank Investment Savings Account, Series A (DYN6000)
Equitable High Interest Savings Account, Series A (EQB1000) 4.65%
Home Trust High Interest Savings Account, Class A (HOM100)
Manulife Bank Investment Savings Account (MIP510) 4.60%
B2B Bank HIIA, Series A (BTB100) 4.55%
NBI Altamira CashPerformer Account, Series A (NBC100)
RBC Investment Savings Account, Series A (RBF2010)
Renaissance High Interest Savings Account, Series A (ATL5000)
TD Investment Savings Account, Series A (TDB8150)
October 14, 2023
10:06 am
Dean
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.
Thanks for that Norman. We appreciate your updates.

It appears those rates have hit a 'Plateau' for now. In the next 1-2 months, maybe they'll go higher ... or maybe not.

Or eventually ... they'll start to slowly go down, from their present highs.

Any Bets ❓ sf-smile

    Dean

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

October 14, 2023
1:13 pm
Rail Baron
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Dean said
.
Thanks for that Norman. We appreciate your updates.

It appears those rates have hit a 'Plateau' for now. In the next 1-2 months, maybe they'll go higher ... or maybe not.

Or eventually ... they'll start to slowly go down, from their present highs.

Any Bets ❓ sf-smile

    Dean

  

I bet we will know which way the wind is blowing on October 25, when the Bank of Canada makes its next interest rate pronouncement.

October 30, 2023
10:48 am
hwyc
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Someone bring up a new HISA today. Allow me to add here for the proper cataloging.

General Bank of Canada HISA fund GBH100 currently 4.75%

... looks like it can be DIY on Questrade

October 30, 2023
2:28 pm
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October 30, 2023
2:33 pm
realtalk
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Oh wow, GBH200 is going for 5.0%, which I believe ties it with the Scotiabank ones at present for highest Series F return. Happy to see more competition at the top end.

October 30, 2023
6:05 pm
smayer97
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procavia said
Would people be interested in a website that displays updated rates with all these funds, and maybe sends email notifications when they change? It could let you filter by A vs F series, CAD vs USD as well.  

YES.

October 31, 2023
4:59 am
kesa
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hwyc said
Someone bring up a new HISA today. Allow me to add here for the proper cataloging.

General Bank of Canada HISA fund GBH100 currently 4.75%

... looks like it can be DIY on Questrade  

GBH200 @5% is a good find. This symbol is not available to buy at iTrade or Qtrade or TDDI, unfortunately.

November 9, 2023
11:48 am
Norman1
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Since last update, rates unchanged:

ISA (Canadian Dollars) Rate
BMO High Interest Savings Account (BMT104) 4.75%
Scotiabank Investment Savings Account, Series A (DYN6000)
Equitable High Interest Savings Account, Series A (EQB1000) 4.65%
Home Trust High Interest Savings Account, Class A (HOM100)
Manulife Bank Investment Savings Account (MIP510) 4.60%
B2B Bank HIIA, Series A (BTB100) 4.55%
NBI Altamira CashPerformer Account, Series A (NBC100)
RBC Investment Savings Account, Series A (RBF2010)
Renaissance High Interest Savings Account, Series A (ATL5000)
TD Investment Savings Account, Series A (TDB8150)
December 5, 2023
1:18 pm
canuckles
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deleted

December 5, 2023
1:37 pm
canuckles
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fsabbagh said

Hi, I just put in an order to buy DYN6000 on CIBC IE and the Load was "None". When I put the order for DYN6001, the load stated "Front end". Am I going to be charged?  

Was there any confirmation on this? I'd like to purchase DYN6001 USD and am getting "Front End" load type as well. I'd prefer to not pay anything up front.

Great thread btw! I just stumbled on it. sf-smile

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