emma30 wrote: ↑ 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.

A trademark of Interac... LOL

Read back the question and anybody here understands what this member wanted to know

But thanks for your crash course on how EFT's are transferred and for educate us to not to use "e-transfer" when we are not talking about an Interac transfer.

A Kleenex is not a Kleenex, it's a facial tissue. But everyone understands what's a Kleenex.

Jul 29th, 2022 1:36 pm

#364

jblade44: Deal Addict; Jan 5, 2008; 1318 posts; 304 upvotes

Jul 29th, 2022 1:36 pm

I opened the 90 day 3.2% GIC with RBC. The 1yr was at 4.25 but I will wait 90 days and it should be a little higher, pretty sure it will not be lower. I am fine locking in for 15 months

+1

Jul 29th, 2022 1:37 pm

#365

Jumanji12: Member; Feb 2, 2018; 278 posts; 137 upvotes

Jul 29th, 2022 1:37 pm

Mlj223 wrote: ↑ Insured up to 100

Do people put more >100k? Or not risk it. I would like to hear from people who’ve done this. Thanks

Jul 29th, 2022 1:39 pm

#366

mkl38s: Deal Fanatic; Jan 21, 2014; 7055 posts; 4498 upvotes

Jul 29th, 2022 1:39 pm

Jumanji12 wrote: ↑ Do people put more >100k? Or not risk it. I would like to hear from people who’ve done this. Thanks

We have more but never locked, just in HISA so we can act when things don’t look good

Jul 29th, 2022 2:03 pm

#367

DoorCrasher [OP]: Penalty Box; Nov 21, 2013; 8128 posts; 9301 upvotes; Montréal

Jul 29th, 2022 2:03 pm

Jumanji12 wrote: ↑ it a good idea to drop a big sum for this promo? I think it’s insured up to 100k protection

Insured Up to $100K. And no risk, since GIC's are guaranteed investments. But I would not put a sum that big in a GIC. Having much to invest, I'd mix with other investment levels. Time to buy ETF, mutual funds, shares, this all depending on your risk tolerance

Jul 29th, 2022 2:08 pm

#368

frenk927: Member; Aug 5, 2017; 481 posts; 488 upvotes

Jul 29th, 2022 2:08 pm

mkl38s wrote: ↑ We have more but never locked, just in HISA so we can act when things don’t look good

What

+1

Jul 29th, 2022 2:18 pm

#369

DoorCrasher [OP]: Penalty Box; Nov 21, 2013; 8128 posts; 9301 upvotes; Montréal

Jul 29th, 2022 2:18 pm

frenk927 wrote: ↑What

Trolling

+2

Jul 29th, 2022 2:21 pm

#370

freelancer00: Newbie; Nov 28, 2021; 7 posts; 3 upvotes

Jul 29th, 2022 2:21 pm

DoorCrasher wrote: ↑ This. Bank of Canada have to find a balance between inflation and recession....

They will, maybe end of the year, but if you follow financials they aren't done yet. Inflation is still too high and demand hasn't slowed enough. If you are in a variable I'd get a rate lock from your bank/mortgage broker. Gives you a 120 day buffer. Expect another rate increase 0.75 +/- 0.25 depending on the economy data points released between now and then.

Jul 29th, 2022 2:30 pm

#371

jblade44: Deal Addict; Jan 5, 2008; 1318 posts; 304 upvotes

Jul 29th, 2022 2:30 pm

Jumanji12 wrote: ↑ Do people put more >100k? Or not risk it. I would like to hear from people who’ve done this. Thanks

I did but I am planning on retiring in 18 months so for me GIC makes sense. I will revaluate the market at 3 months and decide if I will go 12 months or move $$ somewhere else

+2

Jul 29th, 2022 2:34 pm

#372

freelancer00: Newbie; Nov 28, 2021; 7 posts; 3 upvotes

Jul 29th, 2022 2:34 pm

weedb0y wrote: ↑ 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.

Doesn't hurt to get a rate lock through bank or mortgage broker. Gives you 120 days to decide.

Jul 29th, 2022 3:01 pm

#373

emma30: Member; Oct 25, 2014; 282 posts; 243 upvotes; Boswell, BC

Jul 29th, 2022 3:01 pm

DoorCrasher wrote: ↑ A Kleenex is not a Kleenex, it's a facial tissue. But everyone understands what's a Kleenex.

Sure, and in your analogy you asked if you were wrong to call a paper towel a Kleenex. In recent years the specific meaning of "e-Transfer" has really become understood in the common usage. I rarely come across any marketplace buyer/sellers (Craigslist, Kijiji etc) anymore that don't know exactly what it means, even among seniors. I'm seeing more and more small businesses take or request it for payment.

At least among Canadians. I had an online customer yesterday in the US say he "didn't know what an e-transfer was", and asked if he could Venmo me. Spouse didn't know what that was.

Jul 30th, 2022 9:37 am

#374

DoorCrasher [OP]: Penalty Box; Nov 21, 2013; 8128 posts; 9301 upvotes; Montréal

Jul 30th, 2022 9:37 am

jblade44 wrote: ↑ I did but I am planning on retiring in 18 months so for me GIC makes sense. I will revaluate the market at 3 months and decide if I will go 12 months or move $$ somewhere else

This is one if the reasons / situation where a GIC is a good investment product. Again, as repeated multiple times through the thread, those who downvoted for "bad Product/service" should take into consideration that people's situation could be different from one to the other.

Congratulations and happy retirement.

+2

Jul 30th, 2022 9:43 am

#375

HappyValley1: Deal Addict; Apr 22, 2012; 1146 posts; 343 upvotes; TORONTO

Jul 30th, 2022 9:43 am

jblade44 wrote: ↑ 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.

Call your FP, it just posted on Wednesday internal. It should be posted by now.
I renewed 4 of them. Thanks.

Jul 30th, 2022 2:53 pm

#376

DoorCrasher [OP]: Penalty Box; Nov 21, 2013; 8128 posts; 9301 upvotes; Montréal

Jul 30th, 2022 2:53 pm

emma30 wrote: ↑ Sure, and in your analogy you asked if you were wrong to call a paper towel a Kleenex. In recent years the specific meaning of "e-Transfer" has really become understood in the common usage. I rarely come across any marketplace buyer/sellers (Craigslist, Kijiji etc) anymore that don't know exactly what it means, even among seniors. I'm seeing more and more small businesses take or request it for payment.

At least among Canadians. I had an online customer yesterday in the US say he "didn't know what an e-transfer was", and asked if he could Venmo me. Spouse didn't know what that was.

An e transfer, at least to me and possibly the one who asked the question, is an electronic transfer. Nothing to do with a trademark whatsoever. It's a way to transfer money, wether it's via Interac company, or directly between 2 financial institutions without going through the Interac network. He asked the transfer limit between two accounts, not between 2 persons...

Jul 30th, 2022 4:17 pm

#377

Longprocess: Member; Oct 30, 2018; 324 posts; 337 upvotes

Jul 30th, 2022 4:17 pm

jblade44 wrote: ↑ 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.

I'm not even seeing that! I see 1.5% for 3 months and 2% for 1 year. Where are you looking? Thanks!

Jul 30th, 2022 4:26 pm

#378

vkizzle: Deal Expert; Aug 22, 2011; 38242 posts; 24427 upvotes; Center of Universe

Jul 30th, 2022 4:26 pm

Longprocess wrote: ↑ I'm not even seeing that! I see 1.5% for 3 months and 2% for 1 year. Where are you looking? Thanks!

I see 4.25% for 1yr registered GICs.

Jul 30th, 2022 8:11 pm

#379

Ginzasix: Member; May 7, 2017; 394 posts; 210 upvotes

Jul 30th, 2022 8:11 pm

Locked in last week for 270 days/3.5%, sigh.

Oh well, at least there will still be a gain at the end of the 270 days. Lol.

Thank you for the information, OP!

Jul 30th, 2022 8:16 pm

#380

CheapoSeaker: Newbie; Jul 21, 2022; 31 posts; 33 upvotes

Jul 30th, 2022 8:16 pm

I need a a second opinion....
I basically have the majority of my TFSA in EQBank... I've been debating locking in at 1 year for 4.35%
But also want to respect the value of liquid money, and potentially want to lock in 6 months at 4.00% with tangerine...
But the time between the funds transferring out to tangerine could take some time, and eat in the value?

Does anyone have experience with EQBank transfers? Especially out to tangerine? I've heard word it could take weeks.

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