Wealth One 6 month GIC 5.28%? | Wealth One Bank of Canada | Discussion forum

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Wealth One 6 month GIC 5.28%?
June 11, 2023
5:44 am
kesa
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Screenshot-2023-06-11-at-8.41.23-AM.png

decent if real.

June 11, 2023
6:48 am
Norman1
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Wealth One Bank does offer a 180-day GIC in their Account Application page:

Wealth One Bank Account Application

But, their GIC page doesn't show the rate for their 180-day GIC's:

GIC Rates

June 11, 2023
8:00 am
davidgeorge
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The problem with Wealth One is that they hold the fund for way too long. I want to purchase the GIC right after I move the fund to Wealth One and don't want to wait for 10 days or longer.

June 11, 2023
8:27 am
HermanH
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I always found them pretty reasonable, if you call them to release funds for a GIC purchase.

June 11, 2023
10:35 am
Norman1
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If the funds are at another online-only bank, one can push the funds from the other online-only bank into the Wealth One savings account. That will involve a direct deposit to the Wealth One savings account and should have no hold.

EQ Bank has a similar issue. I try to push funds into the EQ Bank savings account for a GIC purchase instead of pulling funds in using EQ Bank. Can't always do that though.

If the other financial institution is RBC Royal Bank, for example, then there is no ability to push funds in from the other financial institution.

June 11, 2023
10:53 am
Dean
Valhalla Mountains, British Columbia
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June 12, 2023
12:43 pm
kesa
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wowa.ca is misinformed.

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