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E-SAVINGS rate up
March 25, 2022
1:39 pm
hwyc
GTA
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Peoples Trust E-SAVINGS (& TFSA) rate now 1.30% (was 1.10%) sf-smile

... Peoples Bank e-savings rate ditto

March 26, 2022
5:19 am
dougjp
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Thanks for that. Especially as I had forgot about the account I opened on the Bank side. That gives me more room without exceeding CDIC limits, as I believe 'Trust' and 'Bank' each have 100k.

Why is 'abbreviation' such a long word?

March 26, 2022
3:20 pm
Dean
Valhalla Mountains, British Columbia
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dougjp said

Thanks for that. Especially as I had forgot about the account I opened on the Bank side. That gives me more room without exceeding CDIC limits, as I believe 'Trust' and 'Bank' each have 100k.  

    True ⬆

"CDIC coverage note: Peoples Trust and Peoples Bank are both part of Peoples Group, but they provide separate CDIC coverage."

Dean

sf-cool " Live Long And Prosper " sf-cool

April 22, 2022
12:18 pm
Wanderer
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Isn’t each category in PT able to hold $100,000. That’s what I read. So I have registered and non registered savings. My holdings are all together over $100,000 but not over in each category. Soon will have to get another company. Thinking PB or EQ.
I’ve been really satisfied with the service at PT. But EQ is ahead of the game in interest rates for GICs.

April 22, 2022
3:09 pm
Vatox
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Wanderer said
Isn’t each category in PT able to hold $100,000. That’s what I read. So I have registered and non registered savings. My holdings are all together over $100,000 but not over in each category. Soon will have to get another company. Thinking PB or EQ.
I’ve been really satisfied with the service at PT. But EQ is ahead of the game in interest rates for GICs.  

Yes, there are many categories. Each is $100k insured.

April 23, 2022
4:07 am
smayer97
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Vatox said

Yes, there are many categories. Each is $100k insured.  

Just to be clear, each category defined by the CDIC is insured to $100K (vs PT) at each institution that is considered a separate legal financial entity.

Categories defined here:
https://www.cdic.ca/your-coverage/how-deposit-insurance-works/

Separate legal financial entity can be confirmed here (under List of Members):
https://www.cdic.ca/your-coverage/list-of-member-institutions/

NOTE/TIP: top line name of an entity is legally separate. Any names underneath (that is indented) is combined under the legal entity and NOT insured separately, as these are only trade/brand/marketing names only.

April 24, 2022
1:57 pm
RetirEd
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I have not dealt with EQ Bank.

I've got deposits with Quebec-available Peoples Trust, Peoples Bank and Oaken. PT and PB EACH have all the categories of CDIC $100K available, for what I think adds up to $600K, or at least lots more than the $100K. (And Oaken has the same with their Home Trust and Home Bank sides.)

Those three are pretty competitive at the moment, with Peoples a week or so behind on rate changes; they seem to have a policy of minimizing rate changes and making fewer, larger ones.

Peoples is far ahead on service, though, and MUCH quicker to pick up the phone. Oaken can take most of an hour near popular deadlines like month-starts, tax season and tax-free deadlines. Neither provides parking, alas! I think Oaken still has some weekend hours - 9am-5pm EASTERN time - on SATURDAY, whereas PT does not.

Peoples doesn't charge for anything mailed to the client; Oaken does for statements so far, and I've had hints they want to move more in the direction of paper fees.

And Peoples has no TFSA savings accounts, a major PITA in portfolio management as one has to transfer to wait for a rate or to combine funds maturing at separate dates. But at the moment they still have no TFSA transfer-out fee: neither does Peoples, but they have TFSA savings accounts.

RetirEd

April 24, 2022
10:37 pm
Loonie
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RetirEd said

And Peoples has no TFSA savings accounts, a major PITA in portfolio management as one has to transfer to wait for a rate or to combine funds maturing at separate dates. But at the moment they still have no TFSA transfer-out fee: neither does Peoples, but they have TFSA savings accounts.

I think you meant to say "Oaken" at the beginning of that paragraph.

April 25, 2022
2:27 pm
RetirEd
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YES! Thanks for correcting my post before it may have misled many people. Indeed, I do have TFSA savings accounts at PT and PB.
RetirEd

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