Luminus Financial : 3.5 % Savings Account Rate - Insured.
All credit union deposits are protected up to $100,000 through the Deposit Insurance Corporation of Ontario (DICO).
Jun 20th, 2016 9:23 am
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Jun 20th, 2016 9:46 am
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Jun 20th, 2016 10:03 am
https://www.luminusfinancial.com/Person ... MServices/komodor wrote: ↑There are service fees and no EFT to external accounts.
https://www.luminusfinancial.com/Person ... rviceFees/
Jun 20th, 2016 10:03 am
https://www.luminusfinancial.com/Person ... ffers/ISA/After September 15, 2016, the investment savings account rate will return to its currently-posted rate of 1.75% (personal) or 1.35% (business), which remains the highest savings rate in Ontario. Interest on the investment savings account is calculated daily and paid monthly.
Jun 20th, 2016 10:07 am
50 cents a month is a killer ? At 3.5 % with Luminus you will make way more than The Tangerine rate, even that Tangerine rate is after haggling and begging.
Jun 20th, 2016 10:10 am
Still better than the crappy 0.8 % of Tangerine. 1.75 % is better than 0.8 %.Soda Popinski wrote: ↑From the site:
https://www.luminusfinancial.com/Person ... ffers/ISA/
Jun 20th, 2016 10:12 am
True, but i dont like to pay to keep money there even if it's $6...and there are fees to move it out (which i do quite often). I rather go with EQ. The 3.5% rate is only for a few months too.
Jun 20th, 2016 10:16 am
Jun 20th, 2016 10:29 am
That's the whole point. To park it there for 90 days. Its not for people who move around stuff frequently. Consider this to be a 90 day GIC for 3.5 %. Plus You can always withdraw cash at the ATM for free if you want, unlike GIC.
Jun 20th, 2016 10:41 am
Use it to pay bills, etc etc. Considering it as a GIC is good, but I don't like my money being locked up.rfdm4g4g9 wrote: ↑That's the whole point. To park it there for 90 days. Its not for people who move around stuff frequently. Consider this to be a 90 day GIC for 3.5 %. Plus You can always withdraw cash at the ATM for free if you want, unlike GIC.
Where are you going to move it out anyways ? Anything better than 3.5 % out there ?
Jun 20th, 2016 10:42 am
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Jun 20th, 2016 10:55 am
I just called them ...
Jun 20th, 2016 11:59 am
Jun 20th, 2016 12:30 pm
In business since 1951 as Starnews, re-named Luminus in 2011.
Jun 21st, 2016 10:34 am
Jun 21st, 2016 10:40 am
How many cheques in that book, lol?andrew4321 wrote: ↑I called them and it seems that the account can be opened online. The yearly $5.99 fee was mentioned as well.
A bit of deal breaker for me is the fact that there is no way to withdraw the money without a charge. This is what the CSR mentioned to me:
- they could mail me a bank draft - $8
- I could buy a checkbook for $20, write a cheque to myself and cash it at another bank.
- use the ATM, withing the daily limit.
Can anyone confirm this?
Jun 21st, 2016 12:33 pm
https://www.luminusfinancial.com/Person ... equeOrder/ 100 for $20 or cheaper size, 4 for $8. When you keep the account open beyond the promo with low balance, they charge you $5.99 yearly.Darkman wrote: ↑How many cheques in that book, lol?
Maybe if someone decides to participate in this promo with them ... get a cheque book from them for 20 bucks ...
and keep the account open beyond the promo (with very low balance in the account)...
and then be ready (by buying that cheque book) if such promo ever occurs again
You get 20 or 50 etc cheques in that book ... do you know?