# Best HISA...



## thepitchedlink (Feb 17, 2014)

SO, who's got it? For non-reg....the best I see is 1.95%, but that's insured by the province, not CDIC...


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## Eclectic12 (Oct 20, 2010)

Most I've seen have been around 1.3%, with CDIC coverage.


Cheers


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## AltaRed (Jun 8, 2009)

CDF keyrate savings is at 1.9% with CDIC coverage. PT is at 1.8% and I believe Oaken Financial is circa 1.75%.


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## thepitchedlink (Feb 17, 2014)

Forgive my stupidity, but what is CDF keyrate?


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## johnnoandy (Sep 4, 2014)

Meridian 1.75%


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## leoc2 (Dec 28, 2010)

thepitchedlink said:


> Forgive my stupidity, but what is CDF keyrate?


I think it is this:
https://www.canadiandirectfinancial.com/Personal/Accounts/KeyRateSavings/


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## thepitchedlink (Feb 17, 2014)

Ah thank you. And these guys are good to deal with?


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## AltaRed (Jun 8, 2009)

thepitchedlink said:


> Ah thank you. And these guys are good to deal with?


Other than a rather antiquated website that they keep saying they are upgrading, I have found them fine to deal with (for the KeyRate savings account). I don't use these online banks for anything else so cannot comment otherwise. CDF is a division of well known Canadian Western Bank.


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## rford (Aug 16, 2014)

im interested in hearing about cdf as well. 

when i move to alberta in december i think i'm going to make them my primary bank and move cibc to the back burner to retain my LOC and for mortgage shopping when the time comes.


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## NorthernRaven (Aug 4, 2010)

The rates are kept current at highinterestsavings.ca (which also indicates CDIC/Manitoba coverage), and they've got a feature-comparison chart and forums. Basically, the first thing is to determine if you are comfortable with Manitoba's deposit guarantee rather than CDIC. If for some reason you aren't, that simplifies your choices. After that, determine how big a rate gap you actually care about - 5 or 10 basis points isn't going to make much difference unless you have healthy five-figures on deposit, and there may be other advantages at some place that doesn't have the absolute highest rate. 

Check for things like adding external accounts - Hubert, for instance, has the Ally/Tangerine feature of doing it online, with test deposits of a few pennies, instead of having to send in a cheque - these sorts of places make it easier to use them as a hub if you have multiple accounts. Also see if you can set up pre-authorized withdrawals, and if there is any fee - it can be convenient to do things like car payments, rent, monthly utility bills directly from your HISA, instead of a say a chequing account where you have to keep a close eye on the balance for minimums or whatever. For both these things, Hubert works better than the other Manitoba CUs, either because they are newer and tied into inter-banking systems more recently, or that they've made "no-fee" one of their gimmicks.

Keep an eye out for things like transfer-out fees if you are doing TFSA or RRSP accounts.


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## peterk (May 16, 2010)

I've been using CDF since moving to Alberta. Other than the website being not very intuitive for transferring money around compared to the big banks or Tangerine, I've got no complaints.

On my very first TFSA transfer I screwed up (thanks to the not-so-clear website). The next day there was a voicemail on my phone, from an English speaking Canadian, wanting to discuss the transaction.

I phoned the call back number, and low and behold the same man who left the message picked right up! No pressing 1s or 9s or dealing with someone in India... 

They have just recently dropped the TFSA rate from 2.25% to 2.0% though FYI... which I'm none too happy about.


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## rford (Aug 16, 2014)

that's okay. i have a tfsa with People's for that kind of stuff. good to hear though.


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## gibor365 (Apr 1, 2011)

thepitchedlink said:


> SO, who's got it? For non-reg....the best I see is 1.95%, but that's insured by the province, not CDIC...


It depends on specific time frames...  Now the best HISA at Tangerine 3% until Nov 30, than the best will be CIBC at 2% until March 31


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## Spudd (Oct 11, 2011)

But new money into Tangerine now won't get the 3%, so no point in going to Tangerine.


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## gibor365 (Apr 1, 2011)

Spudd said:


> But new money into Tangerine now won't get the 3%, so no point in going to Tangerine.


That's right  but there is a point going to CIBC who offers 2% HISA for next 4 months


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## Synergy (Mar 18, 2013)

gibor said:


> That's right  but there is a point going to CIBC who offers 2% HISA for next 4 months


Do you know how long the typical period is between the time an institution ends a past promotion and starts a new one? I\m just wondering if Tangerine typically starts a new promo close to the time the old promo runs out. I have my money at Tangerine and will need to find a new home for it come November 30th or esle it's back to TDB8150 (1.25%).

You'd think there'd be some new promotions starting around December / January?


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## gibor365 (Apr 1, 2011)

Synergy said:


> Do you know how long the typical period is between the time an institution ends a past promotion and starts a new one? I\m just wondering if Tangerine typically starts a new promo close to the time the old promo runs out. I have my money at Tangerine and will need to find a new home for it come November 30th or esle it's back to TDB8150 (1.25%).
> 
> You'd think there'd be some new promotions starting around December / January?


No one can tell  i hope that Tangerine will start one in spring or early summer....
and why do you need TDB8150 ?! I would undestand if you are talking about registered account, but for Cash .... just open HISA in CIBC and you guarantee 2% for next 4 months


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## rford (Aug 16, 2014)

pc financial is doing 2.5% on all new tfsa deposits between nov 1 and feb 28


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## Synergy (Mar 18, 2013)

gibor said:


> No one can tell  i hope that Tangerine will start one in spring or early summer....
> and why do you need TDB8150 ?! I would undestand if you are talking about registered account, but for Cash .... just open HISA in CIBC and you guarantee 2% for next 4 months


Most of my cash is in non-registered accounts, but some in my RRSP as well. 2% at CIBC may be an option for my non-reg funds if I can't find anything better by the end of Nov.


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## gibor365 (Apr 1, 2011)

Synergy said:


> Most of my cash is in non-registered accounts, but some in my RRSP as well. 2% at CIBC may be an option for my non-reg funds if I can't find anything better by the end of Nov.


I just can tell you that this year (and next year) CIBC had such promotions about 70-80% of the time  I have another account in TD - those guys NEVER have any promotions....
and as I mentioned before, i like CIBC promotions because I don't care if amount exceed CDIC 100K, as if CIBC goes bankrupt , when all Canada goes bankrupt


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## gibor365 (Apr 1, 2011)

rford said:


> pc financial is doing 2.5% on all new tfsa deposits between nov 1 and feb 28


forget about PC  PT gives 3% on TFSA HISA for many many years ....


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## NorthernRaven (Aug 4, 2010)

gibor said:


> That's right  but there is a point going to CIBC who offers 2% HISA for next 4 months


Just as a note, CIBC's eAdvantage HISA has a $5 fee for each debit transaction, including transfer-out (although transfers between CIBC accounts are free). So you are going to pay at least $5 if you move it back out, which wipes out the difference from a 1.8% HISA on $20K!


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## gibor365 (Apr 1, 2011)

NorthernRaven said:


> Just as a note, CIBC's eAdvantage HISA has a $5 fee for each debit transaction, including transfer-out (although transfers between CIBC accounts are free). So you are going to pay at least $5 if you move it back out, which wipes out the difference from a 1.8% HISA on $20K!


I hold CIBC accounts for many years , did hundreds transfers and din't pay even once... I have CIBC's eAdvantage HISA and chequing account...transfers between those 2 accounts unlimited and free.... when you need to transfer out , you transfer from HISA to checking , it's done in one sec and than transfer from Chequing to any online bank..
Actually you even cannot attach CIBC HISA to any online bank, as you need cheque


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## NorthernRaven (Aug 4, 2010)

gibor said:


> forget about PC  PT gives 3% on TFSA HISA for many many years ....


I looked up their historical deposit reporting at OSFI awhile back, and Peoples' TFSA has gone from 5% of their HISA+TFSA demand deposits in 2011, to 35% now. At some point they may decide they aren't seeing enough new business brought in by this rate to justify the expense. They could save $1 million/year by lowering the TFSA rate to 2.5%, but they'd have to guess at how much of the existing TFSA deposits might move. At 2.5%, probably not much, since TFSA has a certain amount of lock-in, and 2.5% would still be better than most or all permanent rates, but who knows.


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## NorthernRaven (Aug 4, 2010)

gibor said:


> I hold CIBC accounts for many years , did hundreds transfers and din't pay even once... I have CIBC's eAdvantage HISA and chequing account...transfers between those 2 accounts unlimited and free.... when you need to transfer out , you transfer from HISA to checking , it's done in one sec and than transfer from Chequing to any online bank..
> Actually you even cannot attach CIBC HISA to any online bank, as you need cheque


Yes, obviously those that have a CIBC chequing account have the transfer loophole.

I would imagine that it would be possible to attach the eAdvantage to Tangerine, Hubert, and anyone else (?) that has a similar linking capability - you'd just enter the bank/transit/acct numbers.


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## gibor365 (Apr 1, 2011)

NorthernRaven said:


> Yes, obviously those that have a CIBC chequing account have the transfer loophole.
> 
> I would imagine that it would be possible to attach the eAdvantage to Tangerine, Hubert, and anyone else (?) that has a similar linking capability - you'd just enter the bank/transit/acct numbers.


You cannot just enter...to any online bank I'm aware of, you need to mail personal cheque


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## NorthernRaven (Aug 4, 2010)

gibor said:


> You cannot just enter...to any online bank I'm aware of, you need to mail personal cheque


No, with Hubert, Tangerine, and the defunct Ally, when you want to link additional external accounts, you enter the bank, transit and account numbers from the account you wanted linked. They make one or two deposits of a few cents, and once those clear, you enter the amount deposited to confirm. The account is then linked, no cheque required. I linked my TD nonHISA savings account at Hubert like this, for instance, as well as the chequing account I used to start it (which of course I had originally sent Hubert a cheque from to start my Hubert account).


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## gardner (Feb 13, 2014)

NorthernRaven said:


> The account is then linked, no cheque required.


This was the process to link my *second* account to Tangerine. The *first* account, and initial setup on the Tangerine end, required a cheque. When I spoke to them on the phone the options for initial setup were (1) cheque from an existing account, or (2) paperwork in a kiosk -- which only exist in the GTA, as far as I can see.


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## gibor365 (Apr 1, 2011)

gardner said:


> This was the process to link my *second* account to Tangerine. The *first* account, and initial setup on the Tangerine end, required a cheque.


That is exactly what i meant  in any case it doesn't make sense to link your major bank Saving account if you don't want to pay fees


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## NorthernRaven (Aug 4, 2010)

gibor said:


> That is exactly what i meant  in any case it doesn't make sense to link your major bank Saving account if you don't want to pay fees


Sorry if I was unclear - you can only link secondary external accounts once you have a your Tangerine/Hubert account set up, and that does require a cheque from your primary linked account, partially for ID purposes.

It may still be useful to link a major savings account so you can "push" money in (no fee) to avoid having to later do a savings->chequing transfer, or it might be the only account, or whatever. It is possible, anyway, for most accounts that has bank/transit/account numbers on the EFT system.


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## gibor365 (Apr 1, 2011)

_to avoid having to later do a savings->chequing transfer_ again, don't see a lot of sense of filling out and sending papers .... in CIBC I see money transfered between chq / sav account same moment I click submit


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