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Brokerage investment savings accounts
December 5, 2023
2:21 pm
canuckles
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Can someone provide more detailed instruction on how to purchase DYN6000/DYN6001 on Questrade please? I've searched in the Mutual Fund and Stock trading sections and cannot find it. I saw earlier in this thread that Questrade should have ISA's. I tried with TDB8150 and couldn't find that either. TIA!

December 5, 2023
3:03 pm
AltaRed
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My guess it will not come up in a search since the ISAs are not actually mutual funds. They are deposit accounts using the mutual fund system as a vehicle to facilitate transactions.

I know little about Questrade but try just entering the fund code into the mutual fund dialog box and try to make a purchase. Also maybe first try DYN6004/DYN6005 as the 'no trailer fee' versions. It may be Questrade's system is rightfully preventing you from buying the A series 'trailer fee' versions which is verboten for DIY brokerage accounts.

December 5, 2023
4:12 pm
canuckles
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AltaRed said
My guess it will not come up in a search since the ISAs are not actually mutual funds. They are deposit accounts using the mutual fund system as a vehicle to facilitate transactions.

I know little about Questrade but try just entering the fund code into the mutual fund dialog box and try to make a purchase. Also maybe first try DYN6004/DYN6005 as the 'no trailer fee' versions. It may be Questrade's system is rightfully preventing you from buying the A series 'trailer fee' versions which is verboten for DIY brokerage accounts.  

Thanks for the suggestion. Unfortunately DYN6004/6005 don't come up either. I think I'm in the right place. ISA's are traded under Mutual Funds with CIBC IE and TDDI too.

December 5, 2023
6:41 pm
Norman1
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If offered, DYN6004 (Bank of Nova Scotia C$ ISA, Series F) and DYN6005 (Bank of Nova Scotia US$ ISA, Series F) would be accepted by Questrade's mutual fund ordering pages.

The mutual fund symbol search could be broken. For example, the mutual fund symbol search at Scotia iTRADE has been broken for years. I just enter the symbol myself and the mutual fund order goes through.

I thought others reported earlier that DYN6004 was available through Questrade. But, the reports were actually for Qtrade and not Questrade.

December 5, 2023
10:01 pm
Norman1
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I had a look at Questrade's commission schedule. I didn't see any commission waiver for ISA's that could be ordered through their mutual fund system.

I think it would be good to contact Questrade about the commission if one finds an ISA that can be purchased through them. Questrade charges $9.95/trade for mutual funds, on both the buy orders and the sell orders. Questrade is not the best for ISA's if it will be $19.90 per round trip.

December 7, 2023
11:39 am
usephrase
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TD Direct Investing takes days to review Electronic Funds Transfers if you did one EFT transaction yesterday and do another EFT today.

January 11, 2024
2:59 pm
Lodown
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Is the table on the first post still accurate?

January 11, 2024
3:59 pm
AltaRed
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The last change was post #518 by Norman1 on Nov 9th. It is up to members to peruse the thread. Rates on bank ISAs generally change only with changes in BoC overnight rates, with the occasional other adjustment from time to time.

Added: I suspect the banks use commercial paper and Tbills to underpin the interest they pay on these deposits. Not unlike money market mutual funds which are, of course, flow through entities.

January 11, 2024
4:22 pm
NorthernRaven
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You can see the top of the first post has "Norman1's latest post / 2 months ago / Since last update, rates unchanged" and then a copy of the table from the last update post #518, so it looks like either Norman or Peter have been updating the first post when Norman does an update. So you can probably just check the first post instead of hunting backwards for the last update?

I suspect the ISA stuff is just treated as "retail demand deposits" or whatever at each bank, and there isn't any special pool of stuff covering them in particular. They are just redeeming them as they would other retail withdrawals out of their general liquidity.

January 11, 2024
4:52 pm
Norman1
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Since last update two months ago, 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)
January 11, 2024
6:53 pm
Lodown
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Thanks all. Interesting that these returns were in place 2 months ago and remain unchanged resulting in the spread with GICs being greatly reduced.

January 11, 2024
7:37 pm
AltaRed
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Lodown said
Thanks all. Interesting that these returns were in place 2 months ago and remain unchanged resulting in the spread with GICs being greatly reduced.  

The ISAs are essentially demand deposits tied to the BoC overnight rate. They are not directly linked to GICs with 1-5 year terms. 3-3.5 years ago, ISA rates were in the order of 0.2-0.25%.

January 14, 2024
5:32 am
savemoresaveoften
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if these funds are sold during the month, do one still get the interest up to the sale date ? Its unclear as the earned interest are only update at month end only.
Also same applies money market fund ?
The cash ETFs are clear as the NAV / unit price goes up daily to reflect the earned interest and reset back to base NAV after interest is paid out.

January 14, 2024
7:10 am
Norman1
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The brokerage ISA's are savings accounts and work exactly like savings accounts do.

If one withdraws some money during the month by selling some of the "units", the accrued interest from the sold "units" will be paid on the next monthly interest pay date.

If one closes the account by selling all "units", then accrued interest will be paid out with the withdrawn funds.

January 14, 2024
8:01 am
mechone
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Rbc also has US brokerage savings RBF2014 @ 4.9%

January 14, 2024
8:26 am
AltaRed
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mechone said
Rbc also has US brokerage savings RBF2014 @ 4.9%  

Almost all of them have USD equivalents., plus F series versions without the trailer fee (limited access). Nothing unique to RBC there. https://mrthrifty.ca/investment-savings-accounts-maximize-interest-in-your-brokerage-account/ has links to most of the options.

February 2, 2024
6:33 pm
fsabbagh
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One of the banks is offering me a 4.8% cashable GIC. I would make a few thousand more if I stick it in BMO Investorline cause they have an $1800 bonus + the ISA is 4.75% for BMT104. The only issue is if rates fall in the second half, BMT104 rates will drop making the cashable more advantageous. Any thoughts? What would you do?

February 2, 2024
8:59 pm
Loonie
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A warning about cashables: be sure to ask if there is a minimum time you must hold the GIC in order to avoid loss of interest. Some won't let you take it out before X months without substantial loss of interest. This information is not necessarily well advertised. Get the policy in writing.

February 4, 2024
9:22 am
Doug
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Loonie said
A warning about cashables: be sure to ask if there is a minimum time you must hold the GIC in order to avoid loss of interest. Some won't let you take it out before X months without substantial loss of interest. This information is not necessarily well advertised. Get the policy in writing.  

Very good point, Loonie. Scotia iTRADE, in my view, has the best GIC disclosure, by disclosing all of the different terms, cashability, non-cashability, minimum purchase amounts, and, as you say, minimum holding period (for the cashable variety).

February 4, 2024
11:37 am
seh
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fsabbagh said
One of the banks is offering me a 4.8% cashable GIC. I would make a few thousand more if I stick it in BMO Investorline cause they have an $1800 bonus + the ISA is 4.75% for BMT104. The only issue is if rates fall in the second half, BMT104 rates will drop making the cashable more advantageous. Any thoughts? What would you do?  

Who is offering 4.8% cashable? Is that a 1 yr. term? Is it partially redeemable (many are not)?

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