More Rate Increases :-) | Page 5 | Hubert Financial | Discussion forum

Hubert used to give members up to 30 (thirty) days to fund a GIC. To the best of my knowledge, this included non-registered.

So, I don't see 2 days as generous at all. It's a pain if you are transferring from a sluggish FI or need to make 2 transfers to get the funds to Hubert and especially if you have to deal with a "hold" policy on the first one.
This more restrictive policy is probably an innovation due to Access merger.
If you are trying to meet this tight 2-day deadline and anticipate a problem, I suggest contacting them first to get them to agree to another day or two if needed. Or perhaps you can set up a new link quickly.

Loonie said
Hubert used to give members up to 30 (thirty) days to fund a GIC. To the best of my knowledge, this included non-registered.

Not my experience. I spoke to a CSR and was told that they check unfunded GICs and close them after a couple of days. They do not check daily. So, you might get a few extra if you open one on Thurs or Fri and they don't check until Monday.

However, they were willing to back-date the opening of a GIC so that the maturity date will be shorter than 365 days.

High-interest savings account 3.00% (was 2.85%)
... TFSAs, RRSPs, and RRIFs too

Just a reminder re Hubert: If you have a quarterly 1-yr GIC, and you wish to redeem early, you can call them ahead of time (as much as one month, they told me) and ask that they automatically redeem it on the date of your next interest payment. They will do that, putting the funds on that day into your daily HS1 (high interest savings) account. You then can go online, right on that day, to your HS1 savings and draw on those funds to create new 1-yr GIC accounts, if you so wish.

(Two months ago I lost three days of interest when I could not call during a long weekend and we were travelling. I did redeem on the fourth day of the new quarter, and created new accounts at the new, higher rate. But, it will take 60 days at the new rate to make up the lost interest and then get ahead. At that time, I did not know about the option I've explained above.)

pooreva said
This works unless your 3 months are on non working day - weekend/holiday.
They do redemption manually, it is not automated.  

I had a 1 year GIC that I wanted to redeem after 90 days, which happened to be on a Saturday. Called in a week before, gave instructions, and it was in my savings account on Saturday morning, and I was able to buy the new GIC the same day. Was just last week, worked quite well.

FastJonny said
They still work Saturday. Not Sunday though. A few weeks ago I one which the quarter date was a Sunday. They would not redeem it on Sunday (arranged in advance), it had to wait till Monday as they said it is all manual, so if I waited for those funds I was out a days interest.  

One thing you might consider the next time you purchase a quarterly is to check the redemption date in advance. If it falls on a Sunday, you can try to get the purchase date back-dated by a day so that the quarterly redemption date falls on a Saturday. I have done this manoeuvre.