Where will you move your money after 3.75% interest rate at PCF?

[cutesnoopydoll]

Where are the best places to put at high interest rate bank without opening a new account?

[budfrogs]

Good question!

I am not sure where to put my money and my mom asked me the same question last night.

I got the TD GIA promotion so I may put my money into that.

I have used up my Canadian Tire initial rate long ago. (My mom hasn't used up her CTF so I recommended she go with that.)

I haven't used up HSBC though. I am trying to decide between HSBC and TD. I am leaning towards TD just because i have an accounts with them already.

[matradley]

Right now, I will start off by placing $5000 into a PC TFSA that currently is offering 3.75%.

[angel_wing0]

Right now, I will start off by placing $5000 into a PC TFSA that currently is offering 3.75%.

u cant do that until jan of 2009 --*

I placed my money in ppls trust all along :D

[matradley]

u cant do that until jan of 2009 --*

I placed my money in ppls trust all along :D

There's something about that name that concerns me. XD

[angel_wing0]

There's something about that name that concerns me. XD

well they are insured by CDIC.

But i dont blame u, i dont believe them back then, but i have to since interest rates are pretty lousy now (screw promo rates). But to my surprise, they have been good to me, especially the savings account rep (only one person, and i talked to her at least once every month because i always inquire about how much interest i got and when i want to confirm that the money i transferred is in the account). Trust me she is very nice and recongizes me once I say hi on the phone...i guess that helps in letting my money stay there as well :D

[tng11]

Is it really worth to churn accounts? I did this for a while but decided it's not really worth churning my accounts for that extra 0.5% in interest (at best). For now my savings are staying in PCF. People's Trust has an awesome rate- but I doubt how long that rate will last and the hold period as well as no online access is a dealbreaker. Not worth that extra $20 a month. Yeah okay, if you're depositing $50K or $100K it's worth the effort but to me it's not worth it for an amount like $30K.

[cutesnoopydoll]

I believed PCF still pay 3.05%..ING is 2.60%, so I guess I will put at PCF in the meantime..

[budfrogs]

Is it really worth to churn accounts? I did this for a while but decided it's not really worth churning my accounts for that extra 0.5% in interest (at best). For now my savings are staying in PCF. People's Trust has an awesome rate- but I doubt how long that rate will last and the hold period as well as no online access is a dealbreaker. Not worth that extra $20 a month. Yeah okay, if you're depositing $50K or $100K it's worth the effort but to me it's not worth it for an amount like $30K.

I was not moving my money around too much either before. But lately since I have savings for a down payment and emergency fund in my savings accounts I have been moving my money around a fair bit more.

[joe1487]

Is it really worth to churn accounts? I did this for a while but decided it's not really worth churning my accounts for that extra 0.5% in interest (at best). For now my savings are staying in PCF. People's Trust has an awesome rate- but I doubt how long that rate will last and the hold period as well as no online access is a dealbreaker. Not worth that extra $20 a month. Yeah okay, if you're depositing $50K or $100K it's worth the effort but to me it's not worth it for an amount like $30K.

Very true. One can go overboard chasing interest deals; I have an account at PCF and one at ING, which is enough for me. I don't keep cash for an extended period of time anyway; the extra 0.25% here and there isn't really worth my time.

[angel_wing0]

...well as no online access is a dealbreaker.

I used to think that way too...not anymore :D

[angel_wing0]

I believed PCF still pay 3.05%..ING is 2.60%, so I guess I will put at PCF in the meantime..

ING is 2.70%.

[budfrogs]

Is it really worth to churn accounts? I did this for a while but decided it's not really worth churning my accounts for that extra 0.5% in interest (at best). For now my savings are staying in PCF. People's Trust has an awesome rate- but I doubt how long that rate will last and the hold period as well as no online access is a dealbreaker. Not worth that extra $20 a month. Yeah okay, if you're depositing $50K or $100K it's worth the effort but to me it's not worth it for an amount like $30K.

The one thing I am not sure on is if the lose of interest while the money is in transit is worth the bonus interest!

[tng11]

The one thing I am not sure on is if the lose of interest while the money is in transit is worth the bonus interest!

On that point, isn't it at most 1 day? For an amount like $30K with 3% it would be about $3 a day in lost interest while a 0.25% difference would result in a $70 difference for the entire year. As far as I know interest is earned despite the fact funds may be on hold.

$70 to me spread out over an entire year is virtually nothing and not worth my time- it's like less than 15 lattes to me and because my investments love to fluctuate thousands everyday. But to those who have the willpower and time to keep on finding the best deal, more power to you!

I pushed about $20K into an escalating GIC with 4.65% yield and $10K into a 2 year GIC at 4.35%, big disadvantage is the money's locked but the good rate is locked and I don't need the cash within the next 3 years.

[tsatsa]

Is it really worth to churn accounts? I did this for a while but decided it's not really worth churning my accounts for that extra 0.5% in interest (at best). For now my savings are staying in PCF. People's Trust has an awesome rate- but I doubt how long that rate will last and the hold period as well as no online access is a dealbreaker. Not worth that extra $20 a month. Yeah okay, if you're depositing $50K or $100K it's worth the effort but to me it's not worth it for an amount like $30K.

I agree, and that $20 is before TAX.

[sagamm]

I agree, and that $20 is before TAX.

guys,hsbc offers 3.75% until March

[angel_wing0]

guys,hsbc offers 3.75% until March

yip..and more than what u have on nov 21st...

[bs9999]

Has anyone gotten paid the bonus interest @PCF yet? I notice my $$ only got the standard 3.05% interest deposit (on Nov 31st) but was expecting to see an the additional bonus deposit on Dec 1st...nothing yet. Am i the only one? Maybe i did something wrong?

I plan on moving my money to HSBC @3.75% or People's Trust @ 4% I believe HSBC will be offering a TFSA as well @ 3.75% which might be a nice plus since one can move $5K into that account and earn 3.75% tax free and the remaining balance can earn 3.75% as well all accessible 24/7 for such things as bill payments

[bs9999]

Has anyone gotten paid the bonus interest @PCF yet? I notice my $$ only got the standard 3.05% interest deposit (on Nov 31st) but was expecting to see an the additional bonus deposit on Dec 1st...nothing yet. Am i the only one? Maybe i did something wrong?

I plan on moving my money to HSBC @3.75% or People's Trust @ 4% I believe HSBC will be offering a TFSA as well @ 3.75% which might be a nice plus since one can move $5K into that account and earn 3.75% tax free and the remaining balance can earn 3.75% as well all accessible 24/7 for such things as bill payments

Self kick...Anyone have an answer?

[Lyrrad0]

Self kick...Anyone have an answer?

You get the bonus later. It was spelled out in the terms and conditions of the offer.

[sunnyd71]

I pushed about $20K into an escalating GIC with 4.65% yield and $10K into a 2 year GIC at 4.35%, big disadvantage is the money's locked but the good rate is locked and I don't need the cash within the next 3 years.

Which bank did you get these rates with?

[tng11]

Which bank did you get these rates with?

CIBC. AFAIK the bonus rates are offered to Imperial Service clients only.

[angel_wing0]

Has anyone gotten paid the bonus interest @PCF yet? I notice my $$ only got the standard 3.05% interest deposit (on Nov 31st) but was expecting to see an the additional bonus deposit on Dec 1st...nothing yet. Am i the only one? Maybe i did something wrong?

no not yet...probably at the end of the month.