Daily Banking (Chequing, Savings, etc.) - Where and Why?
Daily Banking (Chequing, Savings, etc.) - Where and Why?
Feb 27th, 2010 1:27 pm
Feb 27th, 2010 1:32 pm
Feb 27th, 2010 1:36 pm
yea, but apparently they got terrible hold limits and they put your money on hold for one day when you are transferring between PC accounts, e.g. chequing to savings.Enthrash wrote: ↑PC Financial. Free. Period. End of story.
If you use any other institution for your daily banking you are kidding yourself...
http://www.pcfinancial.ca/
Rich...
Feb 27th, 2010 1:37 pm
Feb 27th, 2010 1:53 pm
I've had an account for almost 10 years, and the hold limits have never ever been a problem. You can easily use a LOC (PC Financial line of credit) to "buffer" 1 day hold between savings to chequing (transfers to savings from chequing are instant).
Feb 27th, 2010 2:07 pm
Feb 27th, 2010 2:24 pm
Feb 27th, 2010 2:25 pm
Feb 27th, 2010 2:32 pm
Feb 27th, 2010 2:46 pm
LOL, that's a good oneItemFinder wrote: ↑Stein People's Bank, because I'm a huge troll.
http://www.redflagdeals.com/forums/show ... p?t=852090
Feb 27th, 2010 3:13 pm
Feb 27th, 2010 4:54 pm
Feb 27th, 2010 5:57 pm
There. I fixed it for you.Enthrash wrote: ↑TD Canada Trust. Free. Period. End of story.
If you use any other institution for your daily banking you are kidding yourself...
http://www.tdcanadatrust.com
Rich...
Feb 27th, 2010 6:06 pm
Feb 27th, 2010 6:49 pm
Feb 27th, 2010 6:57 pm
Feb 27th, 2010 7:02 pm
Probably depends on how much return you expect from $5K. There's a large thread on the topic where people crunch the numbers: http://www.redflagdeals.com/forums/td-s ... nt-602525/
Feb 27th, 2010 7:11 pm
Feb 27th, 2010 7:13 pm
Ya that's exactly my reasoning. The $xxxx min balance "offers" the banks do, is for people that don't realize they are still paying the $10/month fee, just with interest instead. $5000 @ 3% interest = $150/yr. Nevermind what you will be paying when interest rates rise.
Feb 27th, 2010 7:20 pm
Well, I realize I am sacrificing interest by keeping the balance. But as of right now, anyway, the benefits outweigh the cost. At least for me. The TD Infinite Visa by itself is $120/yr, for example.Enthrash wrote: ↑Ya that's exactly my reasoning. The $xxxx min balance scams the banks do is just that....scam for people that don't realize they are still paying the $10/month fee, just with interest instead. $5000 @ 3% interest = $150/yr. Nevermind what you will be paying when interest rates rise.
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