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Scotiabank - US Dollars - 2.52% on 1-year GIC (rate special)
February 1, 2019
9:51 pm
Loonie
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I see.
You might want to bear in mind, if it wasn't already mentioned in this thread, that USD accounts are not insured by CDIC. They are insured by in the MB credit unions in their system. I'm not sure about Ontario CUs.
Personally, I don't know of any better rates than Tangerine's for this purpose, but there may be some.
It could well be that Tangerine is "banking" on USD rates going up and US currency being more stable, so they want to make money off our GICs.

February 2, 2019
5:38 am
Koogie
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Loonie said
I see.
You might want to bear in mind, if it wasn't already mentioned in this thread, that USD accounts are not insured by CDIC. They are insured by in the MB credit unions in their system. I'm not sure about Ontario CUs.
 

"""DICO insures most deposits but not all.

Deposits must be:
Held in Canadian dollars...."""

February 2, 2019
4:08 pm
Loonie
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thanks for checking, Koogie. So, for practical use, it's only MB CUs that will insure them (maybe other provinces such as BC, although i doubt it, but those are harder to access across the country).

February 3, 2019
8:43 am
Newcommer_80
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Loonie said
I see.
You might want to bear in mind, if it wasn't already mentioned in this thread, that USD accounts are not insured by CDIC. They are insured by in the MB credit unions in their system. I'm not sure about Ontario CUs.
Personally, I don't know of any better rates than Tangerine's for this purpose, but there may be some.
It could well be that Tangerine is "banking" on USD rates going up and US currency being more stable, so they want to make money off our GICs.  

Thanks a lot Loonie, I'm really a newbie in this field. Is it possible to use one of the Manitoba credit unions if i live in Ontario?

February 3, 2019
7:50 pm
Loonie
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Yes. Should be no problem at all. I live in Ontario, and I use Hubert.

February 6, 2019
7:09 pm
Newcommer_80
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Johnny CASH said
RBC 3% on 1 yr GIC-USD  

Hi Johnny cash

Could you plz confirm if you have opened the 3% rbc gic account. Was it a real gic with no extra fees or volatility?

Thanks

February 8, 2019
6:55 pm
Blue
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I opened a 3% 1 year USD GIC with RBC last October. It was a straight-up real GIC, with no extra fee or such. They also opened a regular No-Fee USD deposit account for me to transfer the funds into from my brokerage, and that seemed to also pay some type of interest since I got $0.13 interest for the one day that the money was in there before it was moved to the GIC. The GIC papers were prepared and the USD deposit account opened all in about 15 minutes. Then when the money was transferred in a few days later, I just emailed the Advisor that the money was there and she moved it to the GIC that same day and sent me the completed GIC paperwork via email. Pretty simple. And I still have the $0.13 sitting in the No-Fee USD deposit account. LOL. When the GIC matures, the funds will go into that USD account.

February 9, 2019
4:15 am
Newcommer_80
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Thanks for your reply blue , highly appreciated.

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