Alexandra said

My interest hasn't yet showed up into my e-advantage savings account. It didn't show last month at this time either however when it did show the Bonus & Branch interest for that account was dated 31 March 26 and then later on the "Smart" interest was paid on the 8th of April.  

April Bonus and Branch interest showed up today in my e-advantage savings account. Both were dated 30April26.

Such instruments buy options to do their market linked returns. Most options end up expiring worthless. Option buyers end up losing more than they win. Same fate with those who write options.

Quite a few funds have marketed their covered call option writing to boost returns. Instead, they all end up with inferior long term returns from capping the upside of their holdings.

Wrayzor said

I think you'll have to go through the FI's websites to find that. Here is the link to one of BMO's series (matured). It doesn't look good. The unmatured series look better, but mostly because of timing.

https://www.bmo.com/main/perso.....ssive-gic/

The "guaranteed" part of them is usually a small fraction of what a traditional GIC provides.  

Understanding that only 5-10% is Market Based, I've been suspecting very low total return vs the sizeable upside most offer as possibilities. This BMO snap shot kinda confirms it. I was hoping there was a 3rd party view of all market based GIC's ...

Thanks for the link ...

cgouimet said

They are being billed as GIC's with so much more upside potential. I'm just curious how much upside they have actually delivered ...  

I think you'll have to go through the FI's websites to find that. Here is the link to one of BMO's series (matured). It doesn't look good. The unmatured series look better, but mostly because of timing.

https://www.bmo.com/main/perso.....ssive-gic/

The "guaranteed" part of them is usually a small fraction of what a traditional GIC provides.

anitavirginia said
in my case I went into branch and saw my advisor first,
he took photocopy of bank draft, and advised he would do whatever he had to do to activate the offer.
He then told me to go to teller and deposit bank draft.
That was Friday.
Now Tuesday, 1st attempt for chat online , stated they do not see an offer.
2nd attempt for chat online, different person, they stated they say they see notation that there is an offer, but no details available.
I emailed my advisor asking for confirmation and his response was,

"Offer for 4.8% is approved, will take some time to reflect the start/end date, will update soon.
The offer has a balance cap of $2,000,000."

I don't like the way they are not being clear about this transaction.
I hope the interest rate is effective the day I deposited funds. I am a bit worried.  

anitavirginia said
looked at interest for March,

It appears they did not give me interest for the 7 day hold on funds.
I had met with advisor in branch and gave him bank draft.
Am I not entitled to interest from day of deposit.?  

Here is an update,
After approx 1 full month, jumping through many hoops, I was able to get them to give me the promo interest for the 1st 7 days they had my funds.

So as of today, they have given me for March, .6% regular interest, plus 4.2% bonus interest, plus .25% smart interest.

For April, they have given me the .6% regular interest and the 4.2% bonus interest.
I expect the smart interest by the 7th or 8th of the month. (that's what happened last month).

I am not impressed in the way all of the CIBC staff I spoke to tried to discourage me from getting the bonus interest for the 1st 7 days, and wanted me to get the bonus interest for the 8th through 97th day. This would of given me only .6% interest for the 1st 7 days. I advised them that i signed up for the promo for up to 90 days, and not for 97 days , with the first 7 days not getting the promo rate.

I will be very careful in my future dealing with them.

One of the changes is an Annual Cap on the card spend that earns the maximum reward rate. $16,000 for their MasterCard, $26,000 for their World Mastercard, and $61,000 for their World Elite Mastercard.

I suppose if you have only GICs in a RRIF it's a given it's a declining asset, but in my case my RRIF FMV is higher than the day I opened it a few years ago. We'll see how long that goes on for. From what I can tell TDDI is as happy to have my RRIF business as for my other accounts with them, they've been very helpful whenever I've called them about withdrawal options. Now I know the drill so I don't anticipate needing to ever call them again about that account.

No problem with withdrawals after this date at Hubert. Have done it several times. After dealing with innumerable FIs during our RSP years we have settled on Hubert for remaining RIF. It's by far the easiest one to deal with. No surprises or convoluted rules. You will come to appreciate this simplicity as you drift towards the sunset, trust me!.

mordko said

It's a fundamentally different engineered product sharing the name for marketing purposes. I don’t think comparing returns is reasonable in this context.  

I do understand that very well.

They are being billed as GIC's with so much more upside potential. I'm just curious how much upside they have actually delivered ...