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Haventree Bank: Canada's Newest June 11, 2018
April 26, 2022
10:54 am
semi-retired
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Just got a 1 yr GIC for 3.45% through Scrivens Financial. CDIC insured.Exceptional service.

April 27, 2022
9:45 am
hwyc
GTA
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Got a Haventree non-compound term (via GICwealth) matured today . For some reason, principal is payout by cheque but interest is directly deposited by Haventree. Wished principal can also be directly deposited as well.

2021 T5 was received in mail timely in mid Feb.

… yes the Haventree cheque pit stopped at GICweath & I opted to pick up at their office to save time.

April 27, 2022
10:21 am
mustang
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I'm on the cusp of pulling the trigger on a WEALTH ONE 1 year gic through GIC WEALTH MANAGEMENT. Haven't purchased through a broker before. They tell me that when the gic matures, the check gets mailed to GICWEALTH MANAGEMENT--i.e., not directly to me. Trying to get my head around that.

April 27, 2022
12:04 pm
gicjunkie
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hwyc said
Got a Haventree non-compound term (via GICwealth) matured today . For some reason, principal is payout by cheque but interest is directly deposited by Haventree. Wished principal can also be directly deposited as well.

2021 T5 was received in mail timely in mid Feb.

… yes the Haventree cheque pit stopped at GICweath & I opted to pick up at their office to save time.  

Often, if the cheque cannot be direct deposited, the cheque is postdated well in advance, so no need to pick it up. Confirm that with the broker. I use GIC Wealth a lot and am very happy with the service.

April 27, 2022
4:33 pm
GR
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mustang said
I'm on the cusp of pulling the trigger on a WEALTH ONE 1 year gic through GIC WEALTH MANAGEMENT. Haven't purchased through a broker before. They tell me that when the gic matures, the check gets mailed to GICWEALTH MANAGEMENT--i.e., not directly to me. Trying to get my head around that.  

Sorry to deviate briefly from the subject of this thread, in order to respond to mustang's post here. If you are more comfortable with dealing directly with Wealth One Bank, you should phone Wealth One Bank and there is a good chance they will match the rate available from the broker (from my experience). I would strongly recommend not exceeding CDIC limit with Wealth One Bank.

With purchases through GIC brokers/agents, I believe that post-dated GIC principal maturity cheques are mailed to the GIC brokers/agents in the hope that the client will roll over the investment funds with the broker/agent.

April 27, 2022
7:41 pm
AllanB
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mustang said
I'm on the cusp of pulling the trigger on a WEALTH ONE 1 year gic through GIC WEALTH MANAGEMENT. Haven't purchased through a broker before.  

I think you mean Haventree.

Does anyone know what rate w1 topped out at Gw.?

April 27, 2022
7:58 pm
mustang
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GR said

Sorry to deviate briefly from the subject of this thread, in order to respond to mustang's post here. If you are more comfortable with dealing directly with Wealth One Bank, you should phone Wealth One Bank and there is a good chance they will match the rate available from the broker (from my experience). I would strongly recommend not exceeding CDIC limit with Wealth One Bank.

With purchases through GIC brokers/agents, I believe that post-dated GIC principal maturity cheques are mailed to the GIC brokers/agents in the hope that the client will roll over the investment funds with the broker/agent.  

Thanks for the suggestion, GR. Actually, I'm pretty much ok with buying via GIC WEALTH MANAGEMENT, just a little wary, not having gone down this road. Indeed, as you note, I was told that on maturity, about 2 weeks in advance the check would be mailed to the broker, so they would have a shot at getting me to roll the funds over. And, I'm sort of ok with that, as well-- although I would be relying on them mailing me the check. Certainly not my druthers.

April 28, 2022
10:17 am
Loonie
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I was told that the deposit brokers have deals with their client FIs whereby the FI agrees not to sell to the public at a higher rate than the broker. I'm less sure about whether the FI is allowed to offer the same rate as broker. It makes sense from a business perspective.
One FI told me they would not sell directly to me if they knew I was also buying their GICs from a deposit broker.

October 29, 2023
10:04 am
althisa
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Haventree Bank offering some competitive GIC rates in the 2yr and 3yr categories
https://www.haventreebank.com/en/deposits/current-deposit-rates/
Screen-Shot-2023-10-29-at-1.01.59-PM.png

October 29, 2023
11:16 am
GR
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Through GIC brokers, Haventree Bank GICs with a minimum of $20k, as of Oct. 27, paid 6.09%, 6.11%, 5.86%, 5.79% and 5.83% annually for 1, 2, 3, 4 and 5 years, respectively.

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