From their PDF file I downloaded on their HISA which states "Product maintained by B2B Bank but no longer offered for sale as of April 30, 2018" so it may not apply:titaniumtux wrote: ↑ This seems tasty on paper. So if I understand correctly...
- a HISA that pays 3.3% (calculated on daily balance, paid monthly)
- Unlimited withdrawals (bill pays, external transfers)
- If they don't have bill pay built in, just link it up to PayTM
- No TFSA option
- No ATM access or debit card?
- No welcome bonus
- No deadline or expiry for current rate, but can change any time?
If all this is the case, it takes a nice stab at Manulife, DUCA and the likes, and almost makes those TFSA's at 2.8% irrelevant.
Transfers (between B2B Bank accounts or accounts at other financial institutions in Canada):Free
Monthly statements :Free
Chequing privileges :Not available
ABM access: Not available
Interac Direct Payments: Not available
Pre-authorized debits: Not available
Bill payments: Not available
Early closure fee (less than 90 days): $25
I anticipate interest rates will be going down, and the rate on this HISA will drop too, so I think it's smarter to get into a long term GIC. But if you just want to park your money for a few months, this looks like a juicy HISA offering.