Security concern still? | Peoples Trust | Discussion forum

Look here for rates. https://www.highinterestsavings.ca/chart/
Then click bank and look at rates for TFSA GIC's.
I cannot comment on PT.
I think you will find good rates at Accelerate, Outlook and Implicity.

As long as the GIC is matured there should be no transfer out fees. Ask to move from your TFSA account to your savings account and then write a cheque. Keep in mind if you withdraw august 2015 you cannot put "that money" plus the Interest you made back Into a TFSA until January 2016.

Two free withdrawals per year.
http://www.acceleratefinancial.....eFees.aspx

If you do a one year GIC you will have it drop into a TFSA savings account, at a lower rate, or you can ask for a 14 or 15 etc. month GIC and they will give you the one year rate...not sure about accelerate but outlook financial did for me.

You need to clarify transfer out or withdraw. Transfer means to transfer TFSA from one institution to a TFSA in another institution. But there is a way around the transfer process. But I think you really mean withdraw.

No charge. To withdraw...but charge to transfer.
http://www.outlookfinancial.co.....ducts/fees
https://www.implicity.ca/Products/ServiceFees/

Good point Loonie. Accelerate is done by phone and I always tell them not to rollover. They also mail you a letter before maturity and you can phone ahead of maturity and make changes. Outlook has an online form that you specify to rollover or not and I also phone 3 or 4 weeks ahead to confirm my needs and if they did a rollover, no big deal because theirs are redeemable. Not sure with Implicity as have not done the process with them. Hubert is online and you can specify but is very awkward. I think you should never opt to rollover as long as you are on top of your maturity dates and make the decision slightly before or after maturity...since things change and you might want to leave that option open for yourself.

Lol. Since we are so helpful are we invited? We will bring gifts.

I think that in most situations you would need to have a chequing account as well, but you can always ask before you sign up to be absolutely sure.
Similarly with fees. Most, if not all, have a page on their website somewhere which tells you all of their fees. I believe Peoples does not charge a transfer-out fee, but you should always check at the time you sign up. However, in my past experience with RRSPs, financial institutions can always impose transfer fees after you've already invested in a GIC or term deposit. There is a minimum notice that they have to give you, but since your money is locked in, there is essentially nothing you can do about it.
Generally, Peoples is pretty good about not charging fees - for now at least. Also ING/Tangerine is similar, although this could change when they are fully rebranded as Tangerine next month; who knows? As someone suggested on another thread, you may be able to set it up so that once a year there is a transfer in to your account from another bank of a few dollars, so that you are sure to keep it "active".

Thanks for that reassuring info, Max.
Seems to me that they have made a strategic decision to build up a customer base of younger depositors, as those are the ones most likely to prefer this kind of TFSA, i.e. not wanting or not able to lock in to GICs, but needing superior returns. Also, they don't offer RIFs, so they are not interested in retirees.