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Email this8:59 am
February 7, 2019
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People's seem to be a worthwhile addition to one's 'FI Portfolio'. But, a few questions from those in the know ...
1. Joint GIC's available?
2. Ease of establishing links to other FI's. EQ, Hubert, Tangerine.
3. Ease of establishing links from other FI's. e.g. EQ, Hubert, Tangerine, Oaken.
4. Whatever else you can think of.
5. Online banking.
Thank you ...
| CGO |
12:10 pm
April 14, 2021
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I have purchased joint GICs from them.
3:06 pm
December 20, 2016
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cgouimet said
.....
Joint GIC's yes.
Peoples Trust and Peoples Bank provide separate CDIC coverage.
Can't speak to ease of linking external FI's since I did this several years ago.
They do not charge an exit fee for transferring out TFSA money, just like Hubert.
Stephen
3:10 pm
February 7, 2019
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Nehpets said
cgouimet said
.....Joint GIC's yes.
Peoples Trust and Peoples Bank provide separate CDIC coverage.
Can't speak to ease of linking external FI's since I did this several years ago.
They do not charge an exit fee for transferring out TFSA money, just like Hubert.Stephen
Thanks. Joint GIC's online at point of purchase or needing phone call?
| CGO |
10:37 am
February 20, 2013
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Its been several years since I opened accounts but I just checked and it appears linking external accounts is still a form to fill out and then mail or fax in. They required a VOID cheque when I opened accounts. Not sure cheque still required or not. They do not link by micro deposits.
1:00 pm
January 9, 2011
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cgouimet said
Thanks. Joint GIC's online at point of purchase or needing phone call?
My experience has been that each joint GIC requires a phone call. Basically they need to make sure both parties want the GIC.
Its not a big problem, although my wife thinks ANY contact with a bank IS a nuisance at best! 
The main accomplishment of almost all organized protests is to
annoy people who are not in them.
1:20 pm
February 7, 2019
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dougjp said
My experience has been that each joint GIC requires a phone call. Basically they need to make sure both parties want the GIC.
Its not a big problem, although my wife thinks ANY contact with a bank IS a nuisance at best!
My wife thinks the same way but I need more FI's ...
| CGO |
9:18 am
February 4, 2017
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I started the signup process with them yesterday. Like cgouimet, I need another FI. Hopefully, they don't disappoint.
5:47 pm
November 9, 2022
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I would say yes. I love PT.
Keep in mind they do not offer RRIFs.
And People’s Bank only has non registered products.
They have decent agents and I have had few issues, but always fixed in my favour.
What’s unique about them is you have to call back to make GIC joint, interest paid annually and to have GIC funds at maturity go into tge associated savings account.
No fee transfers from PT are quick for TFSA money. As does Oaken.
What I don’t like, recently, is their stubbornness to offer a 5 year GIC at 5% or more like the competition offers. It’s obvious they are ok with a 1 year commitment but not a 5 year. I find that disappointing and makes me to want to look elsewhere. I have cash in my TFSA to move soon if I don’t see a change in rates.
And they advertise that the ROARING rates are back! Lol
9:58 pm
April 14, 2021
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Denise said
No fee transfers from PT are quick for TFSA money. As does Oaken.
So, PT does not charge a Transfer fee to move TFSA away from PT?
11:06 pm
October 21, 2013
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HermanH said
Denise said
No fee transfers from PT are quick for TFSA money. As does Oaken.So, PT does not charge a Transfer fee to move TFSA away from PT?
Correct.
10:24 am
November 18, 2017
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Denise: Peoples BANK and TRUST both have registered products: see applications.peoplesbank.ca
Opening any of the account type windows will show you registered products. They do not provide direct URLs, so you'll have to drill down yourself.
I like them a lot, too.
RetirEd
RetirEd
10:35 am
November 9, 2022
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I found that mis nomer web page too. About a month ago I called them and they confirmed that the "bank" only handled non registered.
This is a screen shot from Peoples BANK and notice what it says on any selection of a registered account. Proceed to Peoples TRUST.
6:52 pm
December 12, 2009
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Denise said
I found that mis nomer web page too. About a month ago I called them and they confirmed that the "bank" only handled non registered.
This is a screen shot from Peoples BANK and notice what it says on any selection of a registered account. Proceed to Peoples TRUST.
Interesting...that's a bit of a clumsy implementation, in my view. They could still offer Peoples Bank of Canada registered GICs and registered variable savings accounts inside of a People Trust Company-trusteed RRSP/RRIF/TFSA. This is what most banks do and, indeed, what most credit unions do for their registered savings options within either of Concentra Trust or Central 1 Trust-custodied RRSPs/RRIFs/TFSAs.
Cheers,
Doug
7:03 pm
November 9, 2022
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@Doug
When you are on Peoples Bank website I don’t like the idea of tripping into the Peoples Trust website.
1. Some of us might not be that sharp and only see “Peoples”.
2. If was going to bank with both I would want to join or apply to both accordingly and know that I had done so.
3. I would not want to go over my CDIC coverage.
I hope there are some good warnings. Would be nice if they were like Oaken.
6:41 am
November 18, 2017
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Thanks, Denise. I didn't spot that!
RetirEd
RetirEd
10:27 am
December 12, 2009
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Denise said
@DougWhen you are on Peoples Bank website I don’t like the idea of tripping into the Peoples Trust website.
1. Some of us might not be that sharp and only see “Peoples”.
2. If was going to bank with both I would want to join or apply to both accordingly and know that I had done so.
3. I would not want to go over my CDIC coverage.I hope there are some good warnings. Would be nice if they were like Oaken.
Denise,
To be clear, I agree with you completely. It's clumsy. It's kind of like EQ Bank's clumsy, though perhaps more efficient, runoff or make consumers do the legwork transition of their direct-to-consumer Wyth Financial HISAs.
Cheers,
Doug
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