Holds: Be aware of how long your bank holds your funds!
Implicity.ca is great for interest rates (1.9% calculated daily) with unlimited ATM access including withdrawls.
But they aren't so great in the hold department. 10 days. Even if you deposit cash! Unbelievable.
Imagine you're moving money around (say several hundred thousand) and you throw it into a bank account. Then you see a good investment and need the money moved there immediately or you lose that opportunity. "Oh sorry sir, you can't have your money for 9 more days." Fail.
Ask your high interest bank for its rules on holds. You'd think we're living in the 1800's the way most banks operate. They've got to devise a faster way of authenticating your fund transfers.
But they aren't so great in the hold department. 10 days. Even if you deposit cash! Unbelievable.
Imagine you're moving money around (say several hundred thousand) and you throw it into a bank account. Then you see a good investment and need the money moved there immediately or you lose that opportunity. "Oh sorry sir, you can't have your money for 9 more days." Fail.
Ask your high interest bank for its rules on holds. You'd think we're living in the 1800's the way most banks operate. They've got to devise a faster way of authenticating your fund transfers.