Know High Interest accounts/ GICs for Small Incorporated Businesses? | General comparisons | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
sp_Search Search
Advanced Search
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Search Search
Go to Bottom
No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
Know High Interest accounts/ GICs for Small Incorporated Businesses?
September 10, 2018
3:05 pm
Hornby
Member
Members
Forum Posts: 18
Member Since:
September 10, 2018
sp_UserOfflineSmall Offline
Go to Top
1sp_Permalink sp_Print

I can't seem to find any recent discussions on High Interest accounts/ GICs for Small Incorporated Businesses. I do notice that some of the Banks such as EQ Bank and Tangerine are not offering business accounts or their biz interest rates are significantly lower than their personal rates. Wonder why as a business $ is the same as a personal $?

This is a great website !! Thanks Bob
sf-cool

September 10, 2018
3:33 pm
Koogie
Member
Members
Forum Posts: 334
Member Since:
November 19, 2014
sp_UserOfflineSmall Offline
Go to Top
2sp_EditHistory sp_Permalink sp_Print

Here is a start...
https://www.highinterestsavings.ca/forum/gic/gic-for-small-business/

The usual answer I get is because of all the extra paperwork they have to do. Which is basically b.s. 10 extra minutes work for a 5 year deposit is a joke.

Worryingly, I am starting to see more and more institutions offer two tiers of rates, as you have said. I told Meridian for instance that it was complete BS and bad customer service. Especially as they had one of their self serving "we love business" marketing campaigns on at the time.

September 10, 2018
5:02 pm
Hornby
Member
Members
Forum Posts: 18
Member Since:
September 10, 2018
sp_UserOfflineSmall Offline
Go to Top
3sp_Permalink sp_Print

Thanks Koogle for the other Forum at
https://www.highinterestsavings.ca/forum/gic/gic-for-small-business/
Very helpful

I am trying to avoid CUs beacuse they are not CDIC insured, but they are insured by their Central Credit Union in the relevant province and I am told the Central Credit Union is then backed by the relevant Provincial Government as the regulator. In BC I have tried to track down this Provincial backing, but it becomes very murky and unclear. If anyone knows any better, please advise.

No permission to create posts
sp_Feed All RSS
Go to top

Please write your comments in the forum.