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Email this6:22 am
May 22, 2015
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Does anyone understands why USD rates are low and why many banks are not interested in USD accounts ?
8:33 am
August 10, 2018
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I would venture a guess that the regulatory environment inhibits bank profits. Since 911, US security requirements on money transactions are excessive.
9:11 am
April 6, 2013
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Many Canadian financial institutions aren't interested in US$ deposits because they don't do US$ lending.
Lending to governments by buying US$ short-term treasury bills is not lucrative.
10:20 am
April 6, 2013
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If one is looking to park US$, in contrast to a US$ account, TD Bank is offering 1-Year US$ Cashable GIC's. Cashable after 30 days without loss of accrued interest of 2% per annum.
12:28 pm
April 14, 2021
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Someone found a 2.75% 1-yr GIC here:
https://www.highinterestsavings.ca/forum/rbc-royal-bank/2-75-rbc-1-yr-non-redeemable-us-dollar-gic/#p73616
1:58 pm
May 22, 2015
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HermanH said
Someone found a 2.75% 1-yr GIC here:
https://www.highinterestsavings.ca/forum/rbc-royal-bank/2-75-rbc-1-yr-non-redeemable-us-dollar-gic/#p73616
RBC 1 year GIC is now 1%
https://www.rbcroyalbank.com/investments/gic-rates.html
2:02 pm
August 10, 2018
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EQ US HISA is 1.25%. Not great but reasonable for temporary parking.
2:21 pm
April 6, 2013
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lhsaid said
RBC 1 year GIC is now 1%
https://www.rbcroyalbank.com/investments/gic-rates.html
The 2¾% one-year US$ GIC won't show up there, among the RBC Royal Bank branch offerings.
It is likely another special rate offered by Royal Mutual Funds representatives. See discussion RBC US$ GIC at 3% for one year about another elusive Royal Bank one-year US$ GIC in the past.
5:44 am
May 22, 2015
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Norman1 said
lhsaid said
RBC 1 year GIC is now 1%
https://www.rbcroyalbank.com/investments/gic-rates.htmlThe 2¾% one-year US$ GIC won't show up there, among the RBC Royal Bank branch offerings.
It is likely another special rate offered by Royal Mutual Funds representatives. See discussion RBC US$ GIC at 3% for one year about another elusive Royal Bank one-year US$ GIC in the past.
Thanks ! I called RBC and they still have 1 year GIC at 3%
12:10 pm
April 14, 2021
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Just set up my eSavings USD HISA with RBC, too. Will purchase the 3% 1-yr GIC. Thanks for the hints.
5:22 am
May 22, 2015
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HermanH said
Just set up my eSavings USD HISA with RBC, too. Will purchase the 3% 1-yr GIC. Thanks for the hints.
Still waiting for the call from the branch. Hope will be done online as I don't have any account yet with RBC.
5:45 am
November 8, 2018
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Bruford said
EQ US HISA is 1.25%. Not great but reasonable for temporary parking.
It is now 1.4%.
10:07 am
April 6, 2013
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Bank of Montreal 1-year US$ GIC's are 3.05%, via their BMO InvestorLine discount brokerage.
Bank of Nova Scotia 1-year US$ GIC's are 3%, via their Scotia iTRADE discount brokerage.
12:55 pm
April 14, 2021
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Called RBC and asked them to match the 3.05% offer from BMO and they did it within minutes, as well as giving me a rate-hold until Thursday.
2:48 pm
May 22, 2015
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HermanH said
Called RBC and asked them to match the 3.05% offer from BMO and they did it within minutes, as well as giving me a rate-hold until Thursday.
Sweet !
Let me share my headache with RBC ...
I called them beginning of the week asking to open a USD saving so I can link it with EQ, transfer USD cash then buy GIC. The guy I spoke to said: <>, Great !
I was waiting more than 24h, no call ! then I called them again, they apologized for what happened and admit that nothing was requested for that call in their system !!
The lady said, you can open the account online and then go to the branch to show them an ID -- no appointment is required.
I did that, then went to the branch (yesterday). Surprise, they said, we need to setup an appointment for this, you have to come back !!!!!!!
The appointment is now for Jul 7th !!!! no idea what's next with them !!!
BTW, I never had an account with them in the passed, only a mortgage long time ago.
3:08 pm
April 6, 2013
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Dropping by a bank branch without an appointment is not a good idea these days.
If one is lucky, someone was a no-show for their appointment and a representative is unexpectedly available. Otherwise, there will be no-one available with many of the staff working from home.
I agree. It can be a hassle. Sometimes, the next available appointment is days away and not the next business day.
3:51 pm
May 22, 2015
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Norman1 said
Dropping by a bank branch without an appointment is not a good idea these days.If one is lucky, someone was a no-show for their appointment and a representative is unexpectedly available. Otherwise, there will be no-one available with many of the staff working from home.
I agree. It can be a hassle. Sometimes, the next available appointment is days away and not the next business day.
What I don't like about this is that the Call Centre and the branches are not in sync.
5:38 pm
April 6, 2013
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It looks like they, the Call Centre and some of the branches, have been out of sync for years!
Something similar happened with Saver-Mom and RBC years ago in 2017.
1:20 pm
April 14, 2021
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Just double-checked before transferring my Tang USD to RBC for a 3.05% promo and found that Tang now has a 1-yr USD GIC for 3.5%!
2:33 pm
December 20, 2016
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The rate for TD Asset Management, TD Investment Savings Account TDB8152 has steadily increased since Feb 2022 from 0.20% to 1.20% as of June 30, 2022
Stephen
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