More Rate Increases :-) | Page 3 | Hubert Financial | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
More Rate Increases :-)
September 16, 2022
3:02 pm
GR
Member
Members
Forum Posts: 640
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

Dean said

Yet another statement, with no source indicated ❗

Meh sf-confused

    Dean

  

Source: a fly on the wall !!!!

(Hubert CSR telecon)

September 16, 2022
3:46 pm
GR
Member
Members
Forum Posts: 640
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

UPDATE:

I just spoke to another CSR at Hubert and the HISA and GIC rates are going up and down Monday, as follows:

HISA increasing to 2.85%

1 yr. cashable increasing to 4.40%
2 yr. DECREASING to 4.40%
3 yr. increasing to 4.55%

Emails to clients on Monday.

September 16, 2022
4:59 pm
pooreva
Member
Banned
Forum Posts: 440
Member Since:
April 2, 2018
sp_UserOfflineSmall Offline

GR said
UPDATE:

I just spoke to another CSR at Hubert and the HISA and GIC rates are going up and down Monday, as follows:

Emails to clients on Monday.  

Hubert CSR NEVER provided any info regarding rates in advance. What was agent's name?
If rates do change on Monday then email will NOT be send on Monday; they always send a day in advance.
I do not mind higher rates but your info is fishy...

September 16, 2022
5:18 pm
Dean
Valhalla Mountains, British Columbia
Member
Members
Forum Posts: 1955
Member Since:
January 12, 2019
sp_UserOfflineSmall Offline

GR said
I was told that Hubert's GIC rates will be increasing Monday (Sept. 19) for 1, 2 & 3 yrs.
Clients should watch for email today or tomorrow.  

GR said
UPDATE:

I just spoke to another CSR at Hubert and the HISA and GIC rates are going up and down Monday, as follows:

HISA increasing to 2.85%

1 yr. cashable increasing to 4.40%
2 yr. DECREASING to 4.40%
3 yr. increasing to 4.55%

Emails to clients on Monday.  

Hmmm ... so there are two different stories, eh ❗

Like Pooreva said in Post #43; "Fishy". sf-confused

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

September 16, 2022
5:36 pm
GR
Member
Members
Forum Posts: 640
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

pooreva said

Hubert CSR NEVER provided any info regarding rates in advance. What was agent's name?
If rates do change on Monday then email will NOT be send on Monday; they always send a day in advance.
I do not mind higher rates but your info is fishy...  

pooreva and Dean:
You may question the veracity of info provided to me by phone by two different CSRs, but don't question my honesty. Just phone Hubert yourself. Ask to speak to a fish!

September 16, 2022
9:27 pm
Loonie
Member
Members
Forum Posts: 9292
Member Since:
October 21, 2013
sp_UserOfflineSmall Offline

GR has a sterling reputation in my books for providing advance notice based on conversations with CSRs and deserves our thanks for continuing to bother to let us know.

In the unlikely event that GR received the wrong info, it would likely be the first such occasion.

September 17, 2022
4:39 am
Jim Sherat
Member
Members
Forum Posts: 157
Member Since:
January 1, 2018
sp_UserOfflineSmall Offline

GR, I just want to echo what Loonie said; I appreciate your advance information and more importantly, your honesty ! Thanks. 🙂

September 17, 2022
7:11 am
savemoresaveoften
Member
Members
Forum Posts: 2925
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

Jim Sherat said
GR, I just want to echo what Loonie said; I appreciate your advance information and more importantly, your honesty ! Thanks. 🙂  

Yup he hasn’t been wrong yet and the heads up is much appreciated.

For those that question the source and such, just relax. As long as the info is correct, the source is irrelevant.

September 17, 2022
7:27 am
pooreva
Member
Banned
Forum Posts: 440
Member Since:
April 2, 2018
sp_UserOfflineSmall Offline

GR said

pooreva and Dean:
You may question the veracity of info provided to me by phone by two different CSRs, but don't question my honesty. Just phone Hubert yourself. Ask to speak to a fish!  

My apologies to GR. Your info has been 100% correct.
Eric from Hubert confirmed rates as of Monday (19th).
This is first Hubert provided rates in advance by phone/chat. It must be something to do with new management...

September 17, 2022
7:39 am
ertyu
Member
Members
Forum Posts: 134
Member Since:
January 4, 2015
sp_UserOfflineSmall Offline

FYI, A number of months ago a Hubert rep also told me on the phone about an increase upcoming in a day or two.

September 17, 2022
7:57 am
cgouimet
Member
Members
Forum Posts: 1481
Member Since:
February 7, 2019
sp_UserOfflineSmall Offline

It must be a new tactic as I have asked before on a few occasions about possible upcoming changes and the response was always that they treat all their members equally ... No special rates for anyone and the notification of any change all at the same time.

So, when I flipped a 3.25% onto a 4.25% 2 days ago, I didn't bother asking and they didn't offer ...

Oh well, 4.40% vs 4.25% is only $9 on a $25k GIC over the first 90 days ...

CGO
September 17, 2022
7:58 am
GR
Member
Members
Forum Posts: 640
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

New GIC rates I posted in post #42 were confirmed this morning by another CSR - effective Monday, Sept.19.

For existing clients who want a 2 yr. GIC at today's rate of 4.75% (before it drops to 4.40% on Monday), you should be able to do the following this weekend:

Log in to your account and select "create new account" at top of green box. Set up a new 2 yr. GIC at 4.75% and fund it within several days. I don't know how many days they allow.

September 17, 2022
8:06 am
lifeonanisland
Member
Members
Forum Posts: 240
Member Since:
January 13, 2022
sp_UserOfflineSmall Offline

GR said

pooreva and Dean:
You may question the veracity of info provided to me by phone by two different CSRs, but don't question my honesty. Just phone Hubert yourself. Ask to speak to a fish!  

Well said. And I thank you for this heads up.

September 17, 2022
8:24 am
smayer97
Member
Members
Forum Posts: 821
Member Since:
September 29, 2017
sp_UserOfflineSmall Offline

cgouimet said
It must be a new tactic as I have asked before on a few occasions about possible upcoming changes and the response was always that they treat all their members equally ... No special rates for anyone and the notification of any change all at the same time.

So, when I flipped a 3.25% onto a 4.25% 2 days ago, I didn't bother asking and they didn't offer ...

Oh well, 4.40% vs 4.25% is only $9 on a $25k GIC over the first 90 days ...  

Isn't there a law that states that you can make changes within 10 days?

September 17, 2022
8:47 am
JPenterprise
Member
Members
Forum Posts: 48
Member Since:
December 23, 2018
sp_UserOfflineSmall Offline

Thank you GR for the heads up. Move my 1 yr GIC which is expired today to HISA. Will wait till Monday to move back to 1 yr GIC.

September 17, 2022
8:53 am
cgouimet
Member
Members
Forum Posts: 1481
Member Since:
February 7, 2019
sp_UserOfflineSmall Offline

smayer97 said

Isn't there a law that states that you can make changes within 10 days?  

Not sure what the rules are exactly. Certainly there is something about backing out of a GIC but the restoration of missed HISA interest and/or rate changes? I don't know.

But I do plan to call after receiving the rate change email to see what the options are.

One option is to close the 4.25% and open a new 4.40%, lose $0.41 for Sep 15 to 19 and gain $9 for the next 90 days for a net gain of $8.59. LOL ...

CGO
September 17, 2022
9:08 am
GR
Member
Members
Forum Posts: 640
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

For Hubert's GICs of 2 to 5 yrs., their website shows that interest, by default, is calculated and compounded annually. My understanding from a discussion with a CSR is that a client can request consideration for an exemption, if annual interest payments are preferred.

Note that we can probably expect Accelerate Financial to change their GIC rates to the same as Hubert's.

September 17, 2022
9:35 am
Norman1
Member
Members
Forum Posts: 6862
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

cgouimet said

Not sure what the rules are exactly. Certainly there is something about backing out of a GIC but the restoration of missed HISA interest and/or rate changes? I don't know.

That's only for cancelling an automatically-renewed GIC.

Financial Consumer Protection Framework Regulations (SOR/2021-181) subsection 6(1) allows 10 business days to cancel an automatically renewed GIC that was issued under Bank Act 627.78(2). Subsection 6(2) allows for no interest to be paid for those ten days when cancelled.

However, Hubert is not bound by those federal regulations as they are not a federally regulated financial institution.

September 17, 2022
10:02 am
Dean
Valhalla Mountains, British Columbia
Member
Members
Forum Posts: 1955
Member Since:
January 12, 2019
sp_UserOfflineSmall Offline

cgouimet said

It must be a new tactic as I have asked before on a few occasions about possible upcoming changes and the response was always that they treat all their members equally ... No special rates for anyone and the notification of any change all at the same time.

. . .

Yes, it appears that the Hubert CSRs have become very inconsistent about
this. Apparently, it now depends on which one we talk to, and how much that one 'Really' knows ❗

Perhaps it involves newbie CSRs who haven't got all their rules down pat yet
... we can only guess.

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

September 17, 2022
10:29 am
Winnie
Ontario
Member
Members
Forum Posts: 464
Member Since:
December 7, 2011
sp_UserOfflineSmall Offline

cgouimet said
One option is to close the 4.25% and open a new 4.40%, lose $0.41 for Sep 15 to 19 and gain $9 for the next 90 days for a net gain of $8.59. LOL ...  

That is not correct.
You will lose $8.42, if you will redeem your $25,000 today (3 days, Sept 15 -Sept 17) and you will gain $9.37 for the next 90 days for a net gain of $0.95

No permission to create posts

Please write your comments in the forum.