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Brokerage investment savings accounts
January 3, 2023
7:55 am
Norman1
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There's no restrictions as far as I know.

However, each investment dealer is allowed to pick and choose what it offers to its clients. The lack of availability of some of the Scotiabank ISA's is more likely a decision by or an error of CIBC Investor's Edge.

Currently, having over $100,000 in DYN6000 will result in a yield of 4.15% instead of 4.10%.

January 3, 2023
7:57 am
savemoresaveoften
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Norman1 said
There's no restrictions as far as I know.

However, each investment dealer is allowed to pick and choose what it offers to its clients. The lack of availability of some of the Scotiabank ISA's is more likely a decision by or an error of CIBC Investor's Edge.  

interesting, I will check with IE then. Thanks.

January 5, 2023
11:34 am
Frieda
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Hi,
I'm new. And I couldn't find how to subscribe to this topic, until I hit reply. So might as well say hi.
I have a qtrade account. A while back, they booted me off class A isa. but at that same time started allowing class f.
I have some cash in BTB101, at 3.75%. But I will move it to higher soon, if possible.
I think the following are available on qtrade; BTB101, EQB1001, RBF2021, RBF2011, RBF2021, RBF2031, RBF2041, HOM101, MP610, MIP710. Though there may be more. Sorry, I'm not interested in the US versions.
Cheers, F

January 5, 2023
12:38 pm
Iminterested
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Frieda said
Hi,
I'm new. And I couldn't find how to subscribe to this topic, until I hit reply. So might as well say hi.
I have a qtrade account. A while back, they booted me off class A isa. but at that same time started allowing class f.
I have some cash in BTB101, at 3.75%. But I will move it to higher soon, if possible.
I think the following are available on qtrade; BTB101, EQB1001, RBF2021, RBF2011, RBF2021, RBF2031, RBF2041, HOM101, MP610, MIP710. Though there may be more. Sorry, I'm not interested in the US versions.
Cheers, F  

Hi Freda,
I have a Qtrade account and have invested in DYN6004 F series which is now paying 4.25%. I believe this is the best rate currently available at Qtrade.

January 5, 2023
3:03 pm
BSGJ
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TDDI MUTUAL FUND TDB8152 ISA-USD$ HAS INCREASED FROM 3.80% TO 3.90% IN MY ACCOUNT

January 5, 2023
4:39 pm
Bill
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When I sign in to Investors Edge it says it offers investment savings accounts from Renaissance Inv (ATL), RBC, TD, Altamira, BNS, and Manulife, though just a selection from each issuer, it appears. For example it offers DYN6000 from BNS but not 6004 (based on when I tried to buy the latter). Also for DYN6000 it shows a .15% trailer fee when you go to the BNS site - ?

January 5, 2023
4:54 pm
AltaRed
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Bill said
When I sign in to Investors Edge it says it offers investment savings accounts from Renaissance Inv (ATL), RBC, TD, Altamira, BNS, and Manulife, though just a selection from each issuer, it appears. For example it offers DYN6000 from BNS but not 6004 (based on when I tried to buy the latter). Also for DYN6000 it shows a .15% trailer fee when you go to the BNS site - ?  

Yes, that is because CIBC IE will only sell you Series A ISAs, at least from third party issuers. That is fair, isn't it? They are providing an order execution service and get rewarded with a 15bp trailer fee on your ISA deposit. Otherwise, why offer it at all?

January 5, 2023
6:01 pm
Norman1
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Investment savings accounts, like DYN6000, are not mutual funds. So, the ban on mutual funds paying a trailer fee to order-execution-only dealers, like CIBC Investor's Edge, does not apply.

On its ISA TDB8150, TD pays a trailer of up to ¼% per annum to the dealer.

January 5, 2023
6:53 pm
Frieda
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Iminterested said

Hi Freda,
I have a Qtrade account and have invested in DYN6004 F series which is now paying 4.25%. I believe this is the best rate currently available at Qtrade.  

Thanks Iminterested. Much appreciated.
I had looked for DYN6004, but I wasn't able to find it in qtrade's MF search function. But I now see it, after just typing it within a trade.

January 5, 2023
7:56 pm
Bill
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Norman1, so I assume the trailer fee does not affect my DYN6000 stated yield of 4.15%, it's paid by the issuer to the dealer, correct? (In the case of TDB8150 TD is paying TDDI!)

January 5, 2023
8:18 pm
Norman1
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That's correct. The quoted yield of DYN6000, 4.10% or 4.15%, already incorporates the impact of the trailer paid by the issuer.

Investment Amount Interest Rate Trailer Fee Issuer: FundServ
$0 - $99,999 4.10% 0.15% BNS: DYN6000
BNST: DYN5000
MTCC: DYN3064
NT: DYN3054
SMC: DYN3074
$100,000 - Unlimited 4.15% 0.10%
January 6, 2023
7:10 am
moveyourmoney
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Frieda said

Thanks Iminterested. Much appreciated.
I had looked for DYN6004, but I wasn't able to find it in qtrade's MF search function. But I now see it, after just typing it within a trade.  

Freida (or others with qtrade)
I’m looking for more info regarding DYN6004 f series. I just got off the phone with qtrade. They tell me this product is not offered. The rep. talked to a supervisor. How exactly are you seeing this option?
Appreciate the info. Thanks.

January 6, 2023
7:37 am
Frieda
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moveyourmoney,

I can enter DYN6004 into the trade order. And then when reviewing, it shows the description in the quote details.
Buy Fund Symbol DYN6004
Buy Fund Desc. BNS INV SAV ACT SR
I have to wait till Monday before I can actually enter my order, as I need to wait on the sale of my current isa.
I tried, and It's not possible to switch, if it's not in the same family. I presume that means you can only 'switch' if it's a fund held by the same bank.

fwiw, Several years a go, I held some F series isa, in qtrade, even when that was technically not possible. So I think the agent is likely just not finding it. As I said earlier, I don't find it, when looking at Scotias MF offerings. As well, Iminterested says he has funds in it.

Cheers Frieda

January 6, 2023
8:04 am
Frieda
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I'll add, that I've ran into an issue previously. where qtrade (or credential direct) wouldn't allow me to put money into a particular isa fund. As at the time, they didn't like the risk. I believe that was one of the home trust companies.
And more recently, they disallowed class A isa funds. I forget what the agent told me at that time, but I just went ahead and moved to btb101.

January 6, 2023
8:10 am
Iminterested
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Frieda, Moveyourmoney,

That's right. I did place an order for DYN6004 at Qtrade in Nov and Dec 2022 and was successful. The rep I spoke to said Qtrade no longer offered A series ISA and I could only buy F series, as of earlier that year. Better for the investor, better rates and no fees.sf-smile

January 6, 2023
8:21 am
anita555
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A Question about Bill Payment method to fund an iTrade account from an external bank account:

Are there any daily, weekly, monthly limits on the amount of funds you can transfer into iTrade by using the Bill Payment method from any external accounts you may have.?

January 7, 2023
5:53 am
moveyourmoney
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Frieda said
moveyourmoney,

I can enter DYN6004 into the trade order. And then when reviewing, it shows the description in the quote details.
Buy Fund Symbol DYN6004
Buy Fund Desc. BNS INV SAV ACT SR
I have to wait till Monday before I can actually enter my order, as I need to wait on the sale of my current isa.
I tried, and It's not possible to switch, if it's not in the same family. I presume that means you can only 'switch' if it's a fund held by the same bank.

fwiw, Several years a go, I held some F series isa, in qtrade, even when that was technically not possible. So I think the agent is likely just not finding it. As I said earlier, I don't find it, when looking at Scotias MF offerings. As well, Iminterested says he has funds in it.

Cheers Frieda  

Iminterested said
Frieda, Moveyourmoney,

That's right. I did place an order for DYN6004 at Qtrade in Nov and Dec 2022 and was successful. The rep I spoke to said Qtrade no longer offered A series ISA and I could only buy F series, as of earlier that year. Better for the investor, better rates and no fees.sf-smile  

I guess I’ll have to admit, I’m not an advanced trader but I do have some idle funds that I would like to take advantage of with the ISAs that are being discussed. For the life of me, I can’t find the DYN6004, I’ve even gone into the qtrade edge platform (which is far more advanced a tool than I need to do my trading)- tried both the symbol and trade searches. I’m sure I’m doing something wrong, but then again, the qtrade rep couldn’t find it either. (or didn’t want to) Freida, let me know how your upcoming trade goes when you switch. Thanks.

January 7, 2023
6:42 am
Norman1
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DYN6004 is transacted as if it were a mutual fund. One won't be able to purchase it through the workflow for stocks, ETF's, or options.

Qtrade: Which Money Market or High Interest Saving Account (HISA) funds can I buy? has the directions for Qtrade Direct Investing.

Sometimes the mutual fund symbol search is not maintained properly and one cannot find the symbol by searching for it. That was the case with Scotia iTRADE a while back. Could be the same situation at Qtrade.

I don't know if Scotia iTRADE has fixed their mutual fund symbol search since. Anyways, I know the symbol and type DYN6004 in without searching for it.

Scotiabank publishes the symbols and rates of their ISA's at Scotiabank ADS: Investment Savings Accounts.

January 7, 2023
6:47 am
savemoresaveoften
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Just to add, re CIBC investor edge, it will bring up all the different DYNXXXX symbols, but they only allow you to trade a couple.
So even being able to see the ticker does not mean your brokerage firm will let you trade it.
If I remembered correctly, I was not able to trade DYN6000 but was able to put in a test trade few days ago.

January 7, 2023
6:58 am
Norman1
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anita555 said
A Question about Bill Payment method to fund an iTrade account from an external bank account:

Are there any daily, weekly, monthly limits on the amount of funds you can transfer into iTrade by using the Bill Payment method from any external accounts you may have.?

I haven't seen any limit on the Scotia iTRADE side.

I have seen limits on the originating side. For example, EQ Bank has a limit of $25,000 per bill payment.

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