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Email this8:18 am
May 9, 2012
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I am interested in putting some USD (high 5 figures) into some higher interest savings or cashable GIC for 1 year or less. I looked at several options:
- TD has a USD cashable GIC @2.5%, but if you pull it out early, no interest is paid.
- WealthSimple has a USD savings account @2.5%, but it is not CDIC insured.
- EQ bank also has a USD savings account @2.5%, which is CDIC insured, but you cannot transfer USD out of the bank (only CAD can come out).
Does anyone here have any other suggestions about where I should look for other options (besides converting to CAD)?
H.
8:53 am
October 27, 2013
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If you have a brokerage account (full service or discount DIY) there are a number of USD ISAs paying in the range of 3.5%, and also at some brokerages, USD GICs paying in the range of 4%.
At Scotia iTrade for example, DYN6005 pays 3.65% https://ads.scotiabank.com/investment-savings-account
The last time I looked, Scotia iTrade also has USD GIC @4%.
Other brokerages may have something similar. Caution: If the Fed Reserve drops interest rates on Dec 10th, the above rates will almost certainly drop accordingly.
9:03 am
February 20, 2013
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Heddie said
- EQ bank also has a USD savings account @2.5%, which is CDIC insured, but you cannot transfer USD out of the bank (only CAD can come out).
H.
I have EQ Bank USA savings and I can make transfers to/from external linked USA account (US Dollars).
9:09 am
October 27, 2013
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frugal lady said
I have EQ Bank USA savings and I can make transfers to/from external linked USA account (US Dollars).
That is different from a EFT to a Canadian domiciled USD account. Regardless Heddie has already reported that the Virtual Assistant bot was wrong and should be fired.
11:46 am
July 1, 2015
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TD WebBroker US$ ISA TDB8152 is currently at 3.4% and the Cdn$ ISA TDB8150 is 1.8%
12:15 pm
August 4, 2010
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The Wealthsimple USD account at 2.5% is 3% for Premium members, and 3.5% for Generation, or Premium with the direct deposit boost active. That may be worth sacrificing a few basis points in some cases to avoid the T+1 delay in selling an ISA or ETF.
The MNU.U MMF is still reporting a 7-day yield of 3.94%, but that will edge down as some of their older positions mature. PSU.U, which is bank deposits, reports 3.78% right now.
4:10 pm
November 8, 2021
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You could open a USD SA with Tangerine, and purchase GICs. Their terms are flexible, starting at 90, 180, 270 days, 1 year and over. The 90 days is currently at 3.1% and goes up a bit by term. They also have longer terms. Their SA doesn't pay much.
https://www.tangerine.ca/en/personal/invest/guaranteed-investments/us-gic
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