# Banking w/ Canadian Direct Financial?



## Maybe Later (Feb 19, 2011)

Does anyone have any experience with Canadian Direct Financial? Thinking of a TFSA HISA. The rate caught my eye (3%), but what held my attention is that it seems not to be just a teaser rate and they haven't changed the rate in some time. Looking to hear if anyone has experience with them.

Next two choices would probably be Ally or ING based on good customer reviews, but since I have no loyalties now, I'm open to CDF or other suggestions.


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## PuckiTwo (Oct 26, 2011)

Maybe Later said:


> Does anyone have any experience with Canadian Direct Financial? Thinking of a TFSA HISA. The rate caught my eye (3%), but what held my attention is that it seems not to be just a teaser rate and they haven't changed the rate in some time. Looking to hear if anyone has experience with them.


Last summer we registered 3%TFSA Hisa with CDF. Originally, we had similar concerns re "teaser rate" but were pleasantly surprised - so far. Relatively uncomplicated procedures, very good customer services (at least in comparison to our local bank). To establish the account as well as interbanking takes a few days. Communication either by fax or phone are in a timely manner. No complaints whatsoever!


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## NicW11 (Mar 3, 2012)

I opened a HISA last month (not a TFSA, just their savings account). It was a pretty quick and easy process and so far I've found the customer service very good.
Nic


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## PuckiTwo (Oct 26, 2011)

Maybe Later said:


> Does anyone have any experience with Canadian Direct Financial? Thinking of a TFSA HISA. The rate caught my eye (3%), but what held my attention is that it seems not to be just a teaser rate and they haven't changed the rate in some time. Looking to hear if anyone has experience with them.
> Next two choices would probably be Ally or ING based on good customer reviews, but since I have no loyalties now, I'm open to CDF or other suggestions.


You maybe interested in this comparison chart which also give you links to customer reviews: http://www.highinterestsavings.ca/chart/


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## Maybe Later (Feb 19, 2011)

I haven't been around much to comment, but I appreciate the relies. Thanks.


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## Barwelle (Feb 23, 2011)

Maybe Later, did you end up opening an account with CDF? Any thoughts about it?

I myself just sent in an application to open an account, to use up some TFSA room I won't be using this year and to take advantage of that 3% interest rate. We'll see how it goes. The application was a little bit confusing, but not very long. I've read that their online interface is confusing as well, and at first I thought you had to call or mail in something when you wanted to do electronic fund transfers - but hidden deep somewhere in their FAQ, it does seem to say that they do support online EFTs. Even if it ends up being a pain, I won't be accessing this account very often - 2 or 3 times a year maybe - so I don't mind if it's less convenient.

Now if anybody who works at ING Direct reads this... You lost some business thanks to your low interest rates (for an online bank) and your tendency to use 'teaser' rates to attract business then drop them back down after a couple of months!


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