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Why are monthly statements so different FI to FI and Unfair to Joint Applicants??
June 5, 2020
10:15 am
GICinvestor
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April 26, 2019
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Recently Loonie posted a good point about Peoples Bank monthly statements. I will leave it to him to post is concern here.

Here is what I discovered with our accounts. Also keep in mind that spouses are not supposed to know or use each others banking ID's or passwords.

Accelerate
Primary Holder every month receives a statement of Joint HISA Transactions for the month and a summary of Joint GICs. And the Primary's Registered GICs are available quarterly.

Secondary Holder every month receives a statement of Joint HISA Transactions for the month and a summary of Joint GICs. And the Secondary's Registered GICs are available quarterly.

Hubert
Primary Holder every month receives a statement of Joint HISA Transactions for the month and a summary of Joint GICs and the Primary's Registered GICs.

Secondary Holder every month receives a statement of the Secondary's Registered GICs.

Oaken
Primary Holder every month receives a statement of Joint HISA Transactions for the month. And an option to print on demand all Joint GICs and the Primary's Registered GICs.

Secondary Holder every month receives a statement of Joint HISA Transactions for the month. And an option to print on demand all Joint GICs and the Secondary's Registered GICs.

Peoples Trust
Primary Holder every month receives a statement of Joint HISA Transactions for the month and a summary of Joint GICs and the Primary's Registered GICs.

Secondary Holder every month receives a statement of Joint HISA ENDING BALANCE ONLY for the month and a summary of Joint GICs and the Secondary's Registered GICs.

Implicity
I don't know as we only have Joint HISA and GICs. The reason I don't know is..my wife's ATM card went invalid due to lack of use and they gave her some numbers only to use to sign on and no new ATM card. These numbers have been reset numerous times and is just a big PITA.

Here is all I can report.
Primary Holder every month receives a statement of Joint HISA Transactions for the month and a summary of Joint GICs.

Summary
Just in a summary and of my opinion only. To keep all parties of a joint account informed of THEIR investments.

The WORST is OAKEN
The BEST is Peoples Trust
A poor RUNNER UP for BEST is Hubert

June 5, 2020
10:29 pm
Loonie
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My initial concern, to which GICInvestor refers, can be found here: https://www.highinterestsavings.ca/forum/general-financial-discussion/peoples-bank-statements/

Thanks for the extra research, which I have not done. I believe but am not certain that the same thing applies to both Peoples Trust and Peoples Bank. In our case, one of us is primary on one of those and the other is primary on the other. Since I do the banking, I only noticed the oe where I am secondary.

I strongly believe that both parties should have full access to complete statements.
When you sign up for a new account, they sometimes ask which person you want to be primary. If they don't ask, they usually assume the male will be primary if the couple are male/female. I have gone so far as to ask them what difference it makes. None has ever told me about this particular difference.

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