# Scotia ISA changes (Hollis becomes ADS)



## james4beach (Nov 15, 2012)

https://ads.scotiabank.com/news/hollis-canadian-bank-issuer-name-change/en-CA

Hollis Canadian Bank is now ADS Canadian Bank, and some of the ISAs (for example DYN500) are now issued by ADS Canadian Bank.

There was also an acquisition involving Hollis, and now I'm not sure who ADS Canadian Bank is. Does anyone know? Is "ADS Canadian Bank" a subsidiary of Scotiabank, and does it show up on Scotiabank's balance sheet? Or is it a separate bank?

Do deposits with ADS have CDIC deposit insurance?

If ADS Canadian Bank is a totally separate bank, then personally I'd probably avoid it and stick to just DYN1300 which is Scotiabank.


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## AltaRed (Jun 8, 2009)

ADS Canadian Bank is listed separately on the CDIC members list

Added: https://ads.scotiabank.com/ADS/Download/236/en


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## Mortgage u/w (Feb 6, 2014)

Its just a name change and not an actual bank change. The fund code remains the same and there is no change affecting the investor. I wouldn't be too concerned. But, I could understand your worry. Its the reason I chose DYN1300 myself - I stick to what I know.


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## james4beach (Nov 15, 2012)

Scotia iTrade now uses the following ISA codes and currently showing 2.0% interest rate:

DYN6000 : Scotiabank (previously DYN1300)
DYN5000 : ADS Canadian Bank
DYN3064 : Montreal Trust Company
DYN3054 : National Trust Company
DYN3074 : Scotia Mortgage Corporation

https://ads.scotiabank.com/news/new-isa-promotion-rate-earn-up-to-2-25/en-CA

They're advertising promotional ISA rates of 2.00% below $100K or 2.15% above $100K. Does anyone know if just buying DYN6000 through iTrade gets you the 2.00% rate? Or does one have to do something different when buying this? I've never seen a promotional rate on an ISA before.


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## hfp75 (Mar 15, 2018)

is that just for scotia itrade ?


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## james4beach (Nov 15, 2012)

hfp75 said:


> is that just for scotia itrade ?


I think so. Typically the ISAs are meant to be used at their related brokerages, but I could be wrong about this.


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## AltaRed (Jun 8, 2009)

james4beach said:


> I think so. Typically the ISAs are meant to be used at their related brokerages, but I could be wrong about this.


I suspect so as well, i.e. these being limited to iTrade. I've not used the CAD versions of the ISAs personally since I use all my CAD income for cash flow needs (or diverted to a HISA at an online bank), but I have DYN5001 to accumulate USD cash. My ex has a significant 6 digit holding of DYN5000 for her cash cushion. Neither of us have used the other alternatives.

I believe all of these are now priced in $1/unit increments and are tiered with one rate with sums below $100k and a slightly higher rate for above $100k. Not quite sure why ADS Bank changed the unit price earlier this year from $10 to $1, but they are not unique. The BMO IL equivalents of AAT770 et al are also at $1.


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## james4beach (Nov 15, 2012)

AltaRed, any idea on how I can get this "promotional" rate? I haven't seen such an offering from an ISA before. If I can get this, 2.0% is awfully good.


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## AltaRed (Jun 8, 2009)

I don't. Never knew there was a promotional rate and in any event, I have no money to put in it that I don't already get a better rate on. Have to phone them I suppose to find out.


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## james4beach (Nov 15, 2012)

I phoned ADS. They said these ISAs are only available through advisors, or iTrade (special case).

The promotional 2.0% rate is offered only up to October 31. After that, the rate drops back to the regular rate, currently 1.35%. Buying the ISA the usual way, entering an order to buy DYN6000, will get the promo rate.


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## john.cray (Dec 7, 2016)

james4beach said:


> I phoned ADS. They said these ISAs are only available through advisors, or iTrade (special case).
> 
> The promotional 2.0% rate is offered only up to October 31. After that, the rate drops back to the regular rate, currently 1.35%. Buying the ISA the usual way, entering an order to buy DYN6000, will get the promo rate.


I recently added "new money" to my existing DYN6001 USD ISA and I was wondering the same. We'll see at the end of the month.

What I've always wondered though is: How does iTrade differentiate between old money and new money exactly? They say the "new money" has to be new to *all* of their Scotia organizations ScotiaBank including. So simply moving the money out of the ISA and into Scotia and then back to iTrade shouldn't qualify for new. But how do they tell exactly?


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## AltaRed (Jun 8, 2009)

It is pretty obvious from transactional history where the withdrawal went and from whence the deposit came. That is all data based potentially forever. Money flows are always 'tracked'.

I suspect the promotional rate is only for CAD deposits, no?


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## john.cray (Dec 7, 2016)

AltaRed said:


> It is pretty obvious from transactional history where the withdrawal went and from whence the deposit came. That is all data based potentially forever. Money flows are always 'tracked'.
> 
> I suspect the promotional rate is only for CAD deposits, no?


Yeah, I reckoned they must have their ways but was curious how they do it. For example if I withdraw all the money and put it in the another institution's ISA and then back the next day, does that qualify as "new" then?

The promotional rates apply to USD as well according to: https://ads.scotiabank.com/ADS/Download/962/en


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## sansum (Apr 15, 2017)

I'm not with iTrade, mainly holding USD in the account. I went to look up the available ISAs and see DYN5001 (ADSB) but not DYN6001 (BNS), so some of the ISAs are available at other brokerages. 

Since USD is not CDIC insured, is it that DYN6001 is more secuire than DYN5001 since the latter is under BNS?


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