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General Bank Of Canada
July 30, 2022
6:10 am
mechone
Ontario
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Came across this Bank . Should it be on the list? Many of their rates are better than whats listed HISA 2.3%

July 30, 2022
7:38 am
Norman1
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I would say no.

Their GIC's are only available through deposit brokers, like Fiscal Agents, and investment dealers, like Scotia iTRADE:

You can purchase a General Bank of Canada GIC through any one of a number of independent deposit brokers or investment advisors. General Bank of Canada is a member of the Registered Deposit Brokers Association (RDBA) – you can find a list of authorized independent deposit brokers on the RDBA website. Our GICs are also made available through a number of investment advisors and securities dealers.

The General Bank of Canada HISA is packaged like a mutual fund. Presumably, it is also not available directly and only available through certain mutual fund dealers. The dealers of some of the large banks will block access to it though:

General Bank of Canada High Interest Savings Account is a great way to enjoy both growth and security. Our competitive interest rate enables your savings to grow, while giving you peace of mind that your investments are eligible for the Canada Deposit Insurance Corporation (CDIC) coverage, up to applicable limits. All deposits are available through FundServ network. See our Latest Rate Sheet for more detail.

July 30, 2022
7:46 am
Dean
Valhalla Mountains, British Columbia
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.
Interesting ... I've never heard of them before https://www.generalbank.ca/

From what Norman has said (Post #2), it doesn't look like they should be listed on this site.

    Dean

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

July 30, 2022
12:00 pm
Alexandra
British Columbia
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I know a few years back, I had a GIC with them through GIC Direct.

July 30, 2022
2:26 pm
Norman1
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There are a few GIC issuers that are brokers-only and don't wish to build their own channel to retail depositors.

RFA Bank of Canada (previously known as Street Capital Bank of Canada) is like that as well.

July 30, 2022
3:32 pm
Nehpets
Ontario
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Norman1 said
There are a few GIC issuers that are brokers-only and don't wish to build their own channel to retail depositors.

RFA Bank of Canada (previously known as Street Capital Bank of Canada) is like that as well.  

I believe Haventree Bank is another.

Stephen

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