Citizens Bank also down to 1.85%!

[yomister]

It was just 2.00% several hours ago. I guess they're matching ING's drop :(

[angel_wing0]

yip i was updated by shawguy about it.

Really sucks.

[dealhunt]

Race to the bottom! :( and i just sent the verification cheque into Citizens.
Oh well good to have an account set up there, for the future.

I just can't trust People's Trust, my dad keeps reminding me of the time when
Principal Trust went under in the 80's, and how something that seems too good... usually is.

[rilhouse]

well, no point moving my $ from PCF for 0.20%

[budfrogs]

Race to the bottom! :( and i just sent the verification cheque into Citizens.
Oh well good to have an account set up there, for the future.

I just can't trust People's Trust, my dad keeps reminding me of the time when
Principal Trust went under in the 80's, and how something that seems too good... usually is.

How much did people loose when Principal went under? People's is CDIC insured!

Also I expect People's to lower theirs at the end of the month.

P.S. It is hard to believe that 3.6% interest rate on a savings account is considered too good to be true!

[Badger]

Please correct me if I am incorrect...

Why is Peoples Trust offering 3.6% to depositors when they could borrow from the Bank of Canada at 1.75%?

or Peoples Trust is a trust company, not a chartered bank, therefore they cannot borrow from the BofC.

[budfrogs]

Please correct me if I am incorrect...

Why is Peoples Trust offering 3.6% to depositors when they could borrow from the Bank of Canada at 1.75%?

or Peoples Trust is a trust company, not a chartered bank, therefore they cannot borrow from the BofC.

I'm not sure banks can borrow from BoC long term. I believe deposits show up differently on a banks books and the more savings they have deposited the more money they can lend. I do not believe a loan from BoC changes that ratio of deposits:leant money.

And I believe People's trust will be lowering their rates at the end of March according to other threads.

[angel_wing0]

yes rumors are flying wildly about that...i forsee a drop myself too...they are like double the big 5 rate...just too good to last long.

[slowtyper]

We all knew this was coming. I was confused why everybody was all like "OMG PC will never have my business again!"...didn't we all know all the other rates would fall eventually?

[angel_wing0]

We all knew this was coming. I was confused why everybody was all like "OMG PC will never have my business again!"...didn't we all know all the other rates would fall eventually?

yes we know that, but pcf is always competitive/better than the big 5. now they are WORSE than the big 5. That's what we can't take. Yes we know it's a 0.10% difference. But still.

[yhgood]

https://www.citizensbank.ca/Personal/Products/BankingKarma/

The girl there told me that they run outof money so no free $100 when you open an account, even they still have the promotion posted on their website.

:mad:

[angel_wing0]

its amazing that they didnt stop the promo early...everyone was crazy about the free $50 :D

[liorsyncro]

$100?! For ****s sakes all I got when I was in their Toronto boutique was a stupid stainless steel water bottle! :mad:

[angel_wing0]

$100?! For ****s sakes all I got when I was in their Toronto boutique was a stupid stainless steel water bottle! :mad:

yes i got one too :lol:

[Shadow Rider]

$100?! For ****s sakes all I got when I was in their Toronto boutique was a stupid stainless steel water bottle! :mad:

Hahaha last year in ethics class the prof upheld citizen's bank as an ethical company example...so now they're telling people to get $100 and only handing them a water bottle? That's not too ethical now is it?

[Bugler]

Seriously? The promo is over? :(

[angel_wing0]

it will be over on wed...

[yhgood]

Seriously? The promo is over? :(

it was over last Friday:mad:

[angel_wing0]

oic...well 4 days earlier :lol: