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TD WebBroker ISA (Investment Savings Account).
September 13, 2022
3:34 pm
RAV4guy
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Following the early discussion here, I bought some DYN6004 in my Scotia iTtrade account and the transaction went through. The information in this forum is quite useful as Scotia Bank is not going to tell us about this. There was also no commission on the transaction. Mr. Thrifty is a useful link.

September 14, 2022
2:32 am
bobwatford
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Dean said

In spite of that , many brokerage investors don't even know they exist ... especially the DIYers. Up until about two years ago, that was my case too. Back in 2020 I found out about ISAs from the Good Folks here on these forums.

    Dean

  

I didn't know they existed until I read the 'frustrated money push pull push' thread a couple of days ago where the TDB8150 was mentioned. I guess I didn't miss much considering interest rates are just now making it worth doing. 2.85% and may grow with rate increases? What a great and liquid way to earn instead of just having a bunch of money doing nothing in my brokerage account while I wait for the market collapse ! Was quite easy to buy too. Did a moderate test buy to see how it worked yesterday and then a large one today.

September 14, 2022
12:17 pm
Dean
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.
Welcome to these forums, Bobwatford .

Stick around and continue to participate ... you're bound to learn more.

I did, and have. sf-smile

    Dean

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

September 14, 2022
1:30 pm
seh
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RAV4guy said
Following the early discussion here, I bought some DYN6004 in my Scotia iTtrade account and the transaction went through. The information in this forum is quite useful as Scotia Bank is not going to tell us about this. There was also no commission on the transaction. Mr. Thrifty is a useful link.  

I won't be surprised if they "fix" this once discovered. The F series funds in USD (DYN6005/5005) will not go through.

September 14, 2022
2:12 pm
bobwatford
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Dean said
.
Welcome to these forums, Bobwatford .

Stick around and continue to participate ... you're bound to learn more.

I did, and have. sf-smile

    Dean

  

Thanks.....I've been lurking for years.....finally got off my lazy butt and registered...lol.

September 14, 2022
7:28 pm
bobwatford
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I just put in another order for some TDB8150 and it's now listed at 2.90% on the order form. When I did so yesterday it was 2.85%.

September 14, 2022
11:39 pm
RetirEd
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So... do I understand correctly that these fund-style ISAs were probably invented just as "parking" for cash leaving other funds (with the same brokerage?) to avoid de-registering/re-registering and possible commissions on buy and sell of funds?
RetirEd

RetirEd

September 15, 2022
6:01 am
Bill
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Yes, they've been around forever, they are designed so that brokerage clients can make some interest while their otherwise uninvested funds are sitting in cash. They are only of interest on here recently because their rates happen to be not bad right now, they are not really designed for retail savers who have no other business with the brokerage even though if you want to open a brokerage account solely for that purpose I guess they wouldn't stop you. They have nothing in common with the usual mutual funds people are familiar with, they are just set up to be bought and sold as mutual funds even though it's really just cash in a savings (ISA) account.

September 15, 2022
6:03 am
Bruford
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So are their gains treated as capital gains or interest income?

September 15, 2022
6:08 am
hwyc
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bobwatford said
I just put in another order for some TDB8150 and it's now listed at 2.90% on the order form. When I did so yesterday it was 2.85%.  

... so soon sf-surprised

September 15, 2022
6:43 am
Bill
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They are not mutual funds, they are just sold as such. You will get a T-slip for the interest income.

September 15, 2022
7:56 am
Koogie
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Bruford said
So are their gains treated as capital gains or interest income?  

As Bill said above, interest income. Of course if you hold it in an RRSP or TFSA, no Tslips.

September 15, 2022
10:34 am
Dean
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bobwatford said

I just put in another order for some TDB8150 and it's now listed at 2.90% on the order form. When I did so yesterday it was 2.85%.  

New rate of 2.90% for TD WebBroker's ISA TDB8150, Confirmed. sf-smile

    Dean

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

September 15, 2022
7:14 pm
Norman1
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There is actually no gain in the unit price of the ISA's. Interest is handled by receiving more units.

September 16, 2022
6:16 am
savemoresaveoften
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For CIBC IE customer, it looks like ATL5XXX series CAD are now also 2.9%

September 16, 2022
8:49 am
AltaRed
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savemoresaveoften said
For CIBC IE customer, it looks like ATL5XXX series CAD are now also 2.9%  

As it is for the BMT series for BMO Investorline customers. All the major banks end up at about the same rates.....which is not collusion. It is simply the math of what the banks likely invest the deposit funds in, .e.g. BAs and the like. Not far off the BoC overnight rate.

The USD equivalents of these ISAs will likely start to move up from ~2.2% by the end of next week after the US Fed rate increase Sept 20-21.

September 16, 2022
9:02 am
Koogie
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Norman1 said
There is actually no gain in the unit price of the ISA's. Interest is handled by receiving more units.  

Yes, unit values are set (usually $10) but interest can usually be handled in two ways. It can be reinvested ((receiving more units (whole or partial) as you say)) or it can simply be paid out into the account as regular interest.

One usually chooses which option they prefer when purchasing the ISA.

September 16, 2022
9:12 am
dougjp
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savemoresaveoften said
For CIBC IE customer, it looks like ATL5XXX series CAD are now also 2.9%  

Thanks, just changed since early this morning. There's a pattern establishing where Renaissance (CIBC) is a week late raising rates vs. the rate leaders.

"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green

September 17, 2022
12:18 pm
canadian.100
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amidat said
Well I don't know about all accounts. But a DIY who has a Scotia iTrade account can purchase DYN6004 without paying a fee.
So I think this information may be useful to other members.
In the past I've purchased the A series not knowing that you can purchase the F series.  

This is informative - I also thought I was restricted to the Series A - I just noticed effective Sept 13 - Scotia ISA DYN6000 Ser A now pays 2.95% and Scotia ISA DYN6004 Ser F now pays 3.05%. No commissions or fees for DIY holders of iTrade Acct.

September 17, 2022
2:26 pm
Dean
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Koogie said

Yes, unit values are set (usually $10) but interest can usually be handled in two ways. It can be reinvested ((receiving more units (whole or partial) as you say)) or it can simply be paid out into the account as regular interest.

One usually chooses which option they prefer when purchasing the ISA.  

    True ⬆

But if you don't choose to have the ISA interest 'reinvested', it just gets dumped into the regular cash balance in your investment account, and earns No interest there.

That's why most folks always choose the 'reinvest' option for ISA interest payments.

Choose Wisely. sf-wink

    Dean

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

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