Personal Finance

Official RFD thread for High Interest Savings Accounts (See Thread Summary for Updates)

Deal Fanatic
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Nov 19, 2004
9356 posts
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Cambridge, ON
coleworld wrote: Nope, on regular savings accounts.... just have to call to have your account registered. See this:

http://forums.redflagdeals.com/2-pc-fin ... s-1307562/
Weird. Nowhere on the site do I see mention of this. The only thing I see is registered accounts only. Oh well, it is for a month and 2% isn't much on chequing/savings account money so I might gain 50 cents before the promo is over.
Member
Feb 11, 2004
260 posts
21 upvotes
Kamloops
Yeah that PC promotion has quite a few hoops to jump through (have to call in, and I think only on balances over last November). Kinda brutal to have to fight to earn 2% on saved money, which isn't even keeping up to inflation anyhow.
Member
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Jun 8, 2009
375 posts
81 upvotes
dealhunt wrote: Yeah that PC promotion has quite a few hoops to jump through (have to call in, and I think only on balances over last November). Kinda brutal to have to fight to earn 2% on saved money, which isn't even keeping up to inflation anyhow.
I agree it's not the best deal. I already had an account, and had practically nothing in it, so it worked well for me, but I can see it being a big pain for others.
Deal Fanatic
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Oct 23, 2006
5314 posts
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Winnipeg
dealhunt wrote: Yeah that PC promotion has quite a few hoops to jump through (have to call in, and I think only on balances over last November). Kinda brutal to have to fight to earn 2% on saved money, which isn't even keeping up to inflation anyhow.
The jump through the hoop is like 1 foot. The phone call takes 5 minutes...

I don't get why you are even on this thread "wondering when 2% savings accounts are going to come back," if you are also saying its a waste of time due to inflation...
Deal Addict
Sep 11, 2006
2304 posts
950 upvotes
Byte wrote: Just got this email from Hubert / Happy Savings
============
Subject: Happy Savings Rate Adjustment

Hi there,

So, we've got some good news and we've got some not so good news.

The good news is it's the Thursday before a long weekend and we hope you have the chance to kick back, relax and celebrate the holiday with your family this weekend.

Now for the not so good news... Due to continued changes and fluctuations within the market place, we will be adjusting our Happy Savings Account rate to 1.8% effective Monday, April 1, 2013.

At Hubert we promise to make sure our members are always in the loop about what's going on, especially when it comes to our rates and our products and services. So whether the market dictates a rate increase or decrease, we promise to let you know as soon as possible.

Don't forget, we are always happy to help so give us a call or send us an email! We can be reached by phone at 1-855-4HUBERT (1-855-448-2378) or by email at hubert@happysavings.ca.

Sincerely,

Hubert
============
"we've got some good news...it's good friday...oh btw we're dropping rates down 20bps." Why write an email that insults people's intelligence like that, I don't see the humor in it at all.
Member
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Jun 8, 2009
375 posts
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Shadow Rider wrote: "we've got some good news...it's good friday...oh btw we're dropping rates down 20bps." Why write an email that insults people's intelligence like that, I don't see the humor in it at all.
Personally, I enjoyed the way the e-mail was written. I didn't find it insulting in the least, and enjoyed the personality of the e-mail. They made it somewhat fun, not too long, and got the important information in there. Most banks don't announce rate increases/decreases, and I appreciate that they take the time to let you know.
Deal Fanatic
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Nov 19, 2004
9356 posts
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Cambridge, ON
coleworld wrote: The jump through the hoop is like 1 foot. The phone call takes 5 minutes...

I don't get why you are even on this thread "wondering when 2% savings accounts are going to come back," if you are also saying its a waste of time due to inflation...
I guess it is worth it for some to take 15 minutes and make the call, but for others a gain of less than a dollar is not worth 15 minutes of sitting on hold. It is going to depend on how much money you have sitting in a bank account. Unless there is some short term need for the money, most people wouldn't have much wasting away in a bank account to make a 0.2% increase really worthwhile.

Still the strange thing about this promotion is that other than just seeing this on rfd, there is no sign of the promotion anywhere.
Deal Addict
Dec 13, 2010
2506 posts
1280 upvotes
ON
angel_wing0 wrote: just my guess, unless every bank start raising theirs, there is no way hubert will stay at this rate.
You were right! Hubert dropped their rate back a few days ago :(
Sr. Member
Jan 24, 2008
817 posts
68 upvotes
Let's assume you're going to get $200-500k next week. You need to put it in a savings account that allows you do withdraw the entire sum whenever you want (even in 3 days) without any huge penalties. Can any of you recommend any of the institutions and accounts mentioned in this?
Deal Fanatic
Oct 7, 2007
9404 posts
5374 upvotes
eednapes wrote: Let's assume you're going to get $200-500k next week. You need to put it in a savings account that allows you do withdraw the entire sum whenever you want (even in 3 days) without any huge penalties. Can any of you recommend any of the institutions and accounts mentioned in this?
I would allocate just under $100k (e.g. $99500) to each financial institution (for CDIC coverage purposes) and choose the institutions offering the top 2 to 5 rates (depending on the $ amount you are investing) in the first post of this thread based on your comfort level with each of the institutions. Personally, I would choose institutions who are covered by CDIC first (e.g. Peoples Trust), then credit unions in your home province. Credit unions outside my home province would be chosen with some level of apprehension just for safety purposes. Just my two cents.
Deal Addict
Oct 4, 2009
3590 posts
2953 upvotes
Montreal
eednapes wrote: Let's assume you're going to get $200-500k next week. You need to put it in a savings account that allows you do withdraw the entire sum whenever you want (even in 3 days) without any huge penalties. Can any of you recommend any of the institutions and accounts mentioned in this?
PT, CDF and Bridgewater are the top 3 CDIC rates on the list, I'd start with them.

Getting your money back in 3 days is not typically going to be an issue but setting up these accounts can easily take a week or more initially.
Deal Expert
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Nov 2, 2003
17117 posts
3872 upvotes
GTA
*****ing ***** , i just moved like $10k into my ING after Ally died, just before this promo!!! ARGH
Banned
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Jul 17, 2008
11042 posts
3878 upvotes
fyhchan wrote: 2.5% interest at ING on Investment Savings Accounts (ISA), RSP ISA, and TFSA ISA from now until June 30, 2013!!

http://www.ingdirect.ca/en/landingpage/sale/
Can you take the money out after 30 June on ISA account? And move them into another institution with higher HISA rate? I'd put money into that if I can use the ISA just for a short term boost over the regular HISA rates at other institutions
Deal Fanatic
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Jun 19, 2009
6135 posts
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Scarborough
Messerschmitt wrote: Can you take the money out after 30 June on ISA account? And move them into another institution with higher HISA rate? I'd put money into that if I can use the ISA just for a short term boost over the regular HISA rates at other institutions
Of course you can. It's your money and you're free to do what you want with it. There's no crazy restriction on how long you need to keep the funds there before you earn the stated interest rate.
Deal Fanatic
Jul 8, 2010
7578 posts
576 upvotes
York
For ING 2.5%: This rate does not apply to internal balance transfers made from other ING DIRECT Accounts, including GICs. But how does one put a cheque onto the ISA account, if they only let me put it onto my chequing account, and then if I want, transfer online frm chequing to savings?
Sr. Member
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Feb 28, 2010
668 posts
340 upvotes
Flying over Canada
dankup wrote: For ING 2.5%: This rate does not apply to internal balance transfers made from other ING DIRECT Accounts, including GICs. But how does one put a cheque onto the ISA account, if they only let me put it onto my chequing account, and then if I want, transfer online frm chequing to savings?
If you check the terms and conditions, section 6(b) shows that transfers from your THRIVE chequing to an ISA are valid for the bonus.
Moderator
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Mar 23, 2004
47725 posts
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Markham
Xenko wrote: Personally, I enjoyed the way the e-mail was written. I didn't find it insulting in the least, and enjoyed the personality of the e-mail. They made it somewhat fun, not too long, and got the important information in there. Most banks don't announce rate increases/decreases, and I appreciate that they take the time to let you know.
have to agree. Well its obvious that it was a teaser rate anyway.

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