Tax-free savings account offered by PCF

[CSR]

Link requires login, however the apply now link on the website doesn't work grr

[sklm]

You can open it right away and start contributing in January.

Currently posted interest is 3.75%, plus tiny anniversary bonus for 1000+ balances:
https://www.txn.banking.pcfinancial..../tfsaRate.page
As usual, "Rates are subject to change without notice"

Apparently, no fees whatsoever.

[angel_wing0]

As usual, "Rates are subject to change without notice"

aka deal breaker. Still would rather put in a GIC. But this is the best rate for all tfsa right now for savings.

[sklm]

Still would rather put in a GIC.

Me, too. But I don't see such option with PCF or any other institution, yet.
Anyway, I've just opened this said account, with 0 balance. Just for the fun of it...

[nobody1234]

Still would rather put in a GIC.

Me, too. But I don't see such option with PCF or any other institution, yet.

Might be worth checking with ING or other operator whether they will let you transfer in GICs you bought with them into their TSFA. Questrade indicated to they would be allowing transfers of equities held in non-registered QT accounts with no fees once their TSFA accounts are ready. Perhaps ING can offer something similar. Good chance GIC rates will be lower come Jan. 1 then they are now.

[sklm]

Link requires login

This one certainly doesn't
http://www.banking.pcfinancial.ca/a/rates/tfsaRate.page

Also, the "Apply Now" button on that page seems to work fine, too. It redirects you here
https://www.txn.banking.pcfinancial....ucts=tfsavings

Anyways, this is what you see at the end of the day

[CSR]

thx

thank you for your application!


Your application was received on Nov 23, 2008, at xxx PM EST. The next step is to visit a pavilion near you and present 2 pieces of identification (we recommend that at least one is a government-issued photo ID). Please wait at least 1 full business day before visiting a pavilion.

You have applied for:

the Tax Free Interest Plus� savings account

[sklm]

The next step is to visit a pavilion near you

Oh... obviously the steps are different for new and existing customers. My TFSA had been opened online, as soon as I hit "submit" button.

[matradley]

I just opened mine - thanks! XD

[Jucius Maximus]

Oh... obviously the steps are different for new and existing customers. My TFSA had been opened online, as soon as I hit "submit" button.

Same, I just opened mine.

[tng11]

Still on the fence about opening this... as I might be designating my TFSA to buy equities over a savings account

Can I open this now, and keep a zero balance for more than a year, that's if I contribute $5,000 in a different account. The rate seems really good, but I'm not too sure where it may headed in the next year

[sklm]

Can I open this now, and keep a zero balance for more than a year

You probably can't. PCF says, they will close the account if it's zero balance for 120 days.
But why open it now if you are not yet sure you are going to put something into it?.. That account is definitely not going anywhere and you should be able to open it later at any day when you make up your mind.
Finally, if you really want to have it right now you could just open it and then invest as little as $1 in January :-) You won't lose much of the contribution room :-)

[CSR]

Oh... obviously the steps are different for new and existing customers. My TFSA had been opened online, as soon as I hit "submit" button.

hmm, i'm an existing customer already.... I keep getting an error message when I hit apply:

[CSR]

I keep getting this message:

We are unable to complete this request.
If you have any questions, please contact President's Choice Financial� Customer Support at
1-888-723-8881 or visit a pavilion near you.
President's Choice Financial� products are currently not available to residents of Quebec.
You must have reached the age of majority in your province in order to apply for credit products and overdraft protection.

[angel_wing0]

Might be worth checking with ING or other operator whether they will let you transfer in GICs you bought with them into their TSFA. Questrade indicated to they would be allowing transfers of equities held in non-registered QT accounts with no fees once their TSFA accounts are ready. Perhaps ING can offer something similar. Good chance GIC rates will be lower come Jan. 1 then they are now.

i m going to wait till then, if they are lower...well guess i will put it in pcf.