Personal Finance

The Official RFD TFSA thread for Savings Accounts! (Updated as of 07/17/2017)

[OP]
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Mar 23, 2004
34997 posts
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Markham
andrew4321 wrote:
Jul 17th, 2017 8:52 am
What's the deal with Wealth One Bank? It seems that they have 2.50% for regular HISA as well.
It's a new bank opened July 2016. And most of its BOD/investors are mainland Chinese.
「もし、奇跡を起こせたら……」
Sr. Member
Sep 19, 2009
760 posts
163 upvotes
angel_wing0 wrote:
Jul 17th, 2017 9:02 am
It's a new bank opened July 2016. And most of its BOD/investors are mainland Chinese.
Thanks Angel. Any decent review from a customer perspective?
[OP]
Moderator
User avatar
Mar 23, 2004
34997 posts
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Markham
andrew4321 wrote:
Jul 17th, 2017 9:08 am
Thanks Angel. Any decent review from a customer perspective?
Nope, I just knew about it after it was posted here on Sat. No interest in trying consider that they are opened by Mainland Chinese.
「もし、奇跡を起こせたら……」
Sr. Member
Sep 19, 2009
760 posts
163 upvotes
angel_wing0 wrote:
Jul 17th, 2017 9:17 am
.... No interest in trying consider that they are opened by Mainland Chinese.
It is CDIC insured. What is your concern?
[OP]
Moderator
User avatar
Mar 23, 2004
34997 posts
2775 upvotes
Markham
andrew4321 wrote:
Jul 17th, 2017 9:22 am
It is CDIC insured. What is your concern?
Read the article posted on the Wealth One thread. 0.20% more than EQ is not worth it, and I need the 5 EMT trx per month that EQ gives.
「もし、奇跡を起こせたら……」
Jr. Member
Jun 13, 2017
152 posts
145 upvotes
Most TFSAs have $50 transfer fee so assuming max amount, it would take 2 months to be even. (aprox. $28/mo more than Alterna at 1.9)

It was 0.85% from Jul 2016 until May 2017 (last cache I found). With such a big jump I am hesitant chasing the new rate.

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