Personal Finance

Peoples Trust's e-Savings Account Official Thread - 2.00%

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[OP]
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Mar 23, 2004
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Markham

Peoples Trust's e-Savings Account Official Thread - 2.00%

This is a continuation of the Peoples Trust thread form here. Since the op of the thread doesnt seem to update that thread/post at RFD anymore, the title misled alot of people thinking they still offer 4%. The current rate of the last edit date is 1.60%. The e-Savings account has online banking, and allows bank to bank transfers as long as you can provide the other bank's void cheque or documents stamped by your bank branch that shows you are the owner of the account. The interest rate is 2.00% as of Feb 14th, 2020.

Peoples Trust CSR toll free# is 1-800-663-0324.

Link of site: https://www.peoplestrust.com/en/peoples ... ts/rates//

[NOTE] People's Trust's systems has been hacked recently (early Oct, which explains why they did not allow new account openings online for the period) and all of its client's PERSONAL information may have been compromised. Link of copy of letter PT sent to its account holders can be seen here.

The incident can be discussed in this thread, here, or here.

There is a class action suit going on regarding this system breach: peoples-trust-class-action-1408955/


Please let me know if there is anything else useful I can add to the OP. Thanks!
1247 replies
Sr. Member
Dec 4, 2007
694 posts
3 upvotes
Montreal
I know it's an odd excuse, but I can't see myself dealing with a financial institution which has no online banking system. Just does not feel right. The reason I say this is because I've been thinking about it recently, but ultimately decided against it for the reason listed before.
Deal Fanatic
Feb 17, 2007
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Mort Réal
Well, yeah but of course CDF = Please check the following for errors.

Canadian Direct Financial products are not available to Qu
Sr. Member
Dec 4, 2007
694 posts
3 upvotes
Montreal
WHO wrote: Oh well... most canadian companies don't consider us the same country.
You and I, we both know why that is though.
[OP]
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Mar 23, 2004
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P1x44r wrote: I know it's an odd excuse, but I can't see myself dealing with a financial institution which has no online banking system. Just does not feel right.
It's totally understandable. I went through the same thing before breaking thru because of low rape rates. You'll get used to it. I did.
Deal Fanatic
Feb 17, 2007
6047 posts
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Mort Réal
[quote="The Ivory Actuary" post_id="8510832" time="1238432052" user_id="212127"]Sorry guys, but I just can't understand what you're saying. Your accents are tr
Newbie
Jun 30, 2007
34 posts
1 upvote
Toronto
angel_wing0 wrote: It's totally understandable. I went through the same thing before breaking thru because of low rape rates. You'll get used to it. I did.
It felt a bit funny for me at first too. But I got it as a _savings_ account: someplace to transfer cash to from PCF and pretend it no longer existed. For that, it works very well. Perhaps it's no longer the best rate... but I think right now it's still tied for first.

I'm crossing my fingers that when rates start to go up again... PT will be among the first.

Yes, I can be patient :cheesygri
[OP]
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Mar 23, 2004
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Byte wrote: It felt a bit funny for me at first too. But I got it as a _savings_ account: someplace to transfer cash to from PCF and pretend it no longer existed. For that, it works very well. Perhaps it's no longer the best rate... but I think right now it's still tied for first.

I'm crossing my fingers that when rates start to go up again... PT will be among the first.

Yes, I can be patient :cheesygri
me too, but if ppls does not remain in first anymore...i might really make a move. But i have faith in them.
Deal Addict
Apr 12, 2008
1512 posts
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Great idea angel_wing0 for this new thread.

I think I should paste the "summary" that was from the old thread, as it was a good guide on how to get started:
KENNETHK wrote: I read most of the posts in this thread and wished all the great information was summarized. I made a summary and hope it would be useful for some people. Please let me know if it needs any correction.

Savings Account at People's Trust

In these tough economic times, one would like to get the most return from their dollars. Currently People's trust is offering 3.6% interest for their People's Choice Savings Account.

Step by Step Process:

Opening Account
Go to [url]https://thebestrate.peoplestrust.com...posit.php?pcsa[/url] and fill out the form. Once that is completed, you will be given a confirmation number.
Mail a cheque made payable to "People's Trust Company" for the amount that you have specified on the application page. On the cheque specify the confirmation number that you received from previous step. In order to link the People's trust account with the other account, write "LINK" in the memo field
Peoples Trust Company
1400-888 Dunsmuir Street
Vancouver, BC V6C 3K4
Once People's trust has received your cheque and processed it, they will send you a few cheques and starter package in the mail.

Link your Bank Account with People's Trust
The cheques sent by People's Trust do not contain name and address. In order to link your People's Trust account with ICICI/ING/HSBC Direct/CTFS/PCFinancial, some of these institutions requires cheque with name and address on it. The only exception is HSBC Direct which allows you to link using bank statements from People's Trust. One way is to order cheques from ASAP-Cheques.
The advantage of linking with one of the banks specified above is that it allows you to use the push/pull function.Otherwise transferring cash in/out of those 2 accounts can only be done with a phone call, or mailing in requests via snail mail or via email.

Moving Money using Push/Pull

Pulling from People's Trust to ICICI/ING/HSBC Direct/CTFS/PCFinancial
Log in to your account at ICICI/ING/HSBC Direct/CTFS/PCFinancial
Move my Money from People's Trust to ICICI/ING/HSBC Direct/CTFS/PCFinancial

Pushing from ICICI/ING/HSBC Direct/CTFS/PCFinancial to People's Trust
Log in to your account at ICICI/ING/HSBC Direct/CTFS/PCFinancial
Move my Money from ICICI/ING/HSBC Direct/CTFS/PCFinancial to People's Trust
Deal Addict
Apr 12, 2008
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angel_wing0 wrote: i already included it as a link on my op...
cool, i just thought it was a link to the original thread (not directly to the topic).
Deal Addict
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Dec 28, 2004
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Burlington
reservoir_dogs wrote: cool, i just thought it was a link to the original thread (not directly to the topic).
Me too. I was thinking of pasting it in also.

Well it is down to 3% as of this morning. Maybe an April fools joke? Still better then PC and ING!
[OP]
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budfrogs wrote: Me too. I was thinking of pasting it in also.

Well it is down to 3% as of this morning. Maybe an April fools joke? Still better then PC and ING!
well there are two links...i guess i will make a note of that on the OP.

Yip it's officially 3% now :cry:
Newbie
Oct 21, 2006
45 posts
2 upvotes
because their rate is 3.5% for new accounts

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