Economy is too fragile at the moment. Not sure if we are going to see another .75. Too many variable mortgages out there, including myself.buymore4less wrote: ↑ Just adding some math for those waiting for higher rates in Sept.
Current 1 year = 4.50% vs. hold in savings account for 90 days and then lock in for 270 days at anticipated higher rates in Sept.
If you take 1.75% (bank rate) for 90 days and then get 5.00% (with an estimated 0.75% rate hike in Sept) for 270 days = you'll get 4.2% avg for the whole year
If 1.75% for 90 days and then 1 full year at 5.25% (est 0.75% above current 1 year rate) then Avg for the year is 4.38%
Both are slightly less than the 4.50% being offered for 1 year rates right now.
All subject to how much you think rates will rise in Sept and how long you are willing to lock in for.
Tangerine
1 year non registered GIC at 4.85%, (not targeted offer, open to everyone, new or actual clients)
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- weedb0y
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- weedb0y
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The 1000+ unemployed from Shopify would agree at the moment.DoorCrasher wrote: ↑ This. Bank of Canada have to find a balance between inflation and recession....
- Airbum88
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How do I transfer money to a tangerine account ?
Limits on e-transfer is too small
Limits on e-transfer is too small
- adamtheman
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You add an external bank account in tangerine and then you request a transfer. Tangerine will deposit 2 small amounts to your external account to confirm it. Then you are free to pull as much money as you want.
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Where do you find this chart?SquadG wrote: ↑
I've been buying a lot of REI.UN recently below $20... It will drop a bit more I think but I keep getting more. I might not do well on capital gains but the dividend are great.
TD Direct Investing has 4.06%, locked 1 year... But I tend to agree that 180 days is the best move if you want to maximize interests.
In fact in Rand McNally they wear hats on their feet and hamburgers eat people
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- Majokito
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There are limits. You can probably contact your bank to adjust them if they work the same as withdrawal limits.DoorCrasher wrote: ↑ As far as I know there is no limit on e-transfer? Never transferred large amount of cash, though, I am not that rich
- DoorCrasher [OP]
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Those are Interac e-transfers. Transfers between 2 different Banks are not manager by Interac, but by the banks themselves. I transferred $5K in one operation, and $5K the day after, and $5K on the 3rd day, way over the daily and monthly limit
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You said e-transfer. You mean a bank to bank transfer then. No limits on those that I've ever hit but since it's between two institutions I would think any amount would work as long as the money is available in the account.DoorCrasher wrote: ↑ Those are Interac e-transfers. Transfers between 2 different Banks are not manager by Interac, but by the banks themselves. I transferred $5K in one operation, and $5K the day after, and $5K on the 3rd day, way over the daily and monthly limit
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Good points.buymore4less wrote: ↑ Just adding some math for those waiting for higher rates in Sept.
Current 1 year = 4.50% vs. hold in savings account for 90 days and then lock in for 270 days at anticipated higher rates in Sept.
If you take 1.75% (bank rate) for 90 days and then get 5.00% (with an estimated 0.75% rate hike in Sept) for 270 days = you'll get 4.2% avg for the whole year
If 1.75% for 90 days and then 1 full year at 5.25% (est 0.75% above current 1 year rate) then Avg for the year is 4.38%
Both are slightly less than the 4.50% being offered for 1 year rates right now.
All subject to how much you think rates will rise in Sept and how long you are willing to lock in for.
Or you can invest some money now into a GIC and then invest a little more after BOC Sept. meeting (if Interest GIC rates increase more). Sort of GIC laddering with different purchase dates.
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Daily limit for transferring out of Tangerine to another bank is $25K (used to be $50K until recently). Not sure if incoming is the same, or if other institutions have similar limits.
- jblade44
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I do not see the RBC 90 3.2% day rate posted just the 4% 1 yr rate. ? Is that something you need to call in the an RBC adviser to get? All my $$ is in RBC now so that would be ideal for me to go 90 days and then go to 1 yr if rate jumps to 5% in fall.HappyValley1 wrote: ↑ FYI. RBC offer 3.2% for 90 days. BMO offer 3.2% for one year term with 30 days cashable. If you don’t want to lock more than 31 days, you can try BMO.
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- blindemboss
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It sucks that the GIC rates offered through TD Direct are lower than the same product offered directly from say Tangerine.
Not very convenient for those with a TDI account to have to buy outside (as the extra 0.5% is worth it).
But I suppose TDI has to make some money.
- dekay
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BoC will likely continue chasing inflation with rate increases until our unemployment rate reverses.DoorCrasher wrote: ↑ This. Bank of Canada have to find a balance between inflation and recession....
If anything, I don't think the BoC's trying to prevent a recession, they're doing everything they can to manufacturing one. And whose to say we aren't already in one already.
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DoorCrasher wrote: ↑ As far as I know there is no limit on e-transfer? Never transferred large amount of cash, though, I am not that rich
The other asked for transfers between 2 banks. Since it's done by the user, it's e-transfer. Or am I wrong? And it's not managed by Interac, and no human intervention/interaction here, hence the E-transfer
- emma30
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Use language how you like at the risk of people misunderstanding you. "e-Transfer" is a registered Canadian trademark of Interac Corp. Note that EFTs involving humans are still performed electronically.DoorCrasher wrote: ↑ The other asked for transfers between 2 banks. Since it's done by the user, it's e-transfer. Or am I wrong? And it's not managed by Interac, and no human intervention/interaction here, hence the E-transfer
Last edited by emma30 on Jul 29th, 2022 1:08 pm, edited 1 time in total.