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Email this6:24 pm
December 12, 2009
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James said
Just reporting back that I have had no luck with brokers when it comes to setting up this term deposit from another province. I've had 3 different brokers assure me that it wouldn't be a problem and I had an appointment with 1 of them scheduled for tomorrow to sign the paperwork and they just called and cancelled.Just FYI - I was very specific with each of them that if I can't get this particular offer, I'm not interested in hearing about any other offers. Otherwise, I'd likely be wasting a lot of time meeting with them.
Doug, Peter, do either of you want a roommate for 33 months? I'll bring a bunk bed if Loonie wants to join. 🙂
Wow, can't believe the deposit brokers actually booked your GIC opening appointment even though they likely knew it wasn't available through that channel. 🙁
LOL about the "roommate" comment. Got any family that you wouldn't mind having any statements go to? You could try that. It would be even better if you previously lived in B.C. and had that address on your credit report. 😉
Cheers,
Doug
12:23 pm
August 17, 2010
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Just got the 33 month convertible 4 percent term with coast. Same day service with a snap cheque deposit and opening a membership. I had a fantastic csr that helped me with the process. Started receiving 4 percent right away! thank you to the bloggers that brought this offer to our attention
5:38 pm
October 21, 2013
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I lived in BC in 1975 for a few months, and even had a car registered there and insured with ICBC. Do you think that will count?
Sadly, cloning just isn't up to snuff yet!
Doug will have to arrange with his parents to sell us a postage-stamp piece of their backyard with a 33 month no hassle return policy! lol
9:13 pm
January 17, 2018
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Thank you Doug for bringing this 4% GIC to our attention.
1:38 pm
January 17, 2018
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Because of the big Asian influence in BC numerology seems to be at play in this GIC offer. The Chinese love the digits 1,2,3,6,8 because of how they sound. Coast Capital is making a major move to go national in 2018 a very auspicious year as it ends with 18 which has the sound 'certainty of success'. They are already gearing up with blessings offering this GIC in February which is month 2 and the promo is for 33 months (any good digit paired is even better). Also Chinese New Year is February 16 which is today and it's 33 days to March 20 (March is month 3) when the promo ends. Gotcha! Ofcourse they don't broadcast this for not wanting to appear superstitious. Remember the Olympic games held in China started 8/8/2008 so if they get the federal approval early I can see them targeting August to go nationwide. The other possible months are March, June, September, November and December. They will most likely offer good promotions as the success of the first year of a major move dictates the success of the following years according to superstitions. So keep an eye on Coast Capital for these months but especially August/2018. Happy Chinese New Year!
2:18 pm
February 17, 2018
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Believe it or not, the maximum amount is actually $25,000,000 not 25,000. I assume nobody is held back by that limit 🙂
https://coastcapitalsavings.com/Investments/InvestmentProducts/
5:47 pm
December 12, 2009
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Loonie said
I lived in BC in 1975 for a few months, and even had a car registered there and insured with ICBC. Do you think that will count?Sadly, cloning just isn't up to snuff yet!
Doug will have to arrange with his parents to sell us a postage-stamp piece of their backyard with a 33 month no hassle return policy! lol
Loonie: Hrm, that address won't likely show on your credit report anymore. Any kids you could "lend" the money too? It'd be a bit of a hassle for you to calculate the tax impact for them having to pay the taxes on your GIC interest but could work. 😉
toto & Marnie: no problem!
Cheers,
Doug
5:50 pm
December 12, 2009
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Marnie said
Because of the big Asian influence in BC numerology seems to be at play in this GIC offer. The Chinese love the digits 1,2,3,6,8 because of how they sound. Coast Capital is making a major move to go national in 2018 a very auspicious year as it ends with 18 which has the sound 'certainty of success'. They are already gearing up with blessings offering this GIC in February which is month 2 and the promo is for 33 months (any good digit paired is even better). Also Chinese New Year is February 16 which is today and it's 33 days to March 20 (March is month 3) when the promo ends. Gotcha! Ofcourse they don't broadcast this for not wanting to appear superstitious. Remember the Olympic games held in China started 8/8/2008 so if they get the federal approval early I can see them targeting August to go nationwide. The other possible months are March, June, September, November and December. They will most likely offer good promotions as the success of the first year of a major move dictates the success of the following years according to superstitions. So keep an eye on Coast Capital for these months but especially August/2018. Happy Chinese New Year!
If they can't get approval by June, I could see your prediction, Marnie, for an 8/18 launch as a federal credit union but I'm still hoping for an April to June launch.
Cheers,
Doug
7:07 pm
January 30, 2009
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Loonie said
Doug will have to arrange with his parents to sell us a postage-stamp piece of their backyard with a 33 month no hassle return policy! lol
I know you're kidding but I'm up for this! We don't even need the return, I'll give it back for free! Want to earn some money as a mail forwarding service? Or, we could get a bunch of us together and rent a room in BC together where we "live" for 33 months. I looked into some virtual options but even desk rental in an office starts at about $400/month. Unfortunately, I have no relatives in BC. Any other ideas? 🙂
7:21 pm
February 2, 2018
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James said
I know you're kidding but I'm up for this! We don't even need the return, I'll give it back for free! Want to earn some money as a mail forwarding service? Or, we could get a bunch of us together and rent a room in BC together where we "live" for 33 months. I looked into some virtual options but even desk rental in an office starts at about $400/month. Unfortunately, I have no relatives in BC. Any other ideas? 🙂
Try this place.
https://spacelist.ca/p/bc/vancouver/225_w_8th_ave/300
I bought an iMac off of a guy running a virtual travel business. They had open air multi share offices, 10x10 offices and offices as small as a telephone booth. Maybe if you looked for similar in Coquitlam, Burnaby or Langley a bit out of the more costly real estate in Vancouver.
Don't some of the big couriers have mail boxes with addresses vs PO box #?
I can tell you how to get a BC phone number too....VOIP.ms and put an app on your iPhone. $25 US and no expiry would last a long time.
Don’t know if either is legal to do and at sometime they need your correct address to mail T slips. And what would CRA do if they saw different addresses?
Has anyone out of province called and tried.?
8:39 pm
January 17, 2018
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Doug said
If they can't get approval by June, I could see your prediction, Marnie, for an 8/18 launch as a federal credit union but I'm still hoping for an April to June launch.
Cheers,
Doug
If Coast Capital is using numerology to determine the federal launch, they will not choose April (month 4) because it has the same sound as 'death' and May (month 5) has negative undertone like 'no' or 'not'. In my post 48, I listed June as one of the possible months other than August for their federal debut. June (month 6) has the same sound as 'direct unencumbered journey'. They will want to make a big splash so all of Canada hears them. It will be fun to see which month and which date they choose.
9:18 pm
October 21, 2013
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James said
I know you're kidding but I'm up for this! We don't even need the return, I'll give it back for free! Want to earn some money as a mail forwarding service? Or, we could get a bunch of us together and rent a room in BC together where we "live" for 33 months. I looked into some virtual options but even desk rental in an office starts at about $400/month. Unfortunately, I have no relatives in BC. Any other ideas? 🙂
You probably don't need to maintain the address for the whole 33 months. What are they going to do if you sell the property or live elsewhere? Nothing. There is no requirement that you live there or have your mail sent there as far as I can see. You might just own property, which could be a vacant lot.
No suitable kids, Doug. I do have friends in BC who might cooperate, but, when push comes to shove, I would not impose on them.
But, if anyone currently drawing around 1% at BigBank would like to loan me $25,000,000 at 1.25%, I'll move to BC for real to take them up on it! Heck, I can probably be bargained up to 1.5%!
These kinds of numbers really demonstrate how much, cumulatively, that Canadians are losing when they leave their money in traditional banks - and how the rich get richer while the poor get poorer.
10:32 pm
December 12, 2009
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James said
I know you're kidding but I'm up for this! We don't even need the return, I'll give it back for free! Want to earn some money as a mail forwarding service? Or, we could get a bunch of us together and rent a room in BC together where we "live" for 33 months. I looked into some virtual options but even desk rental in an office starts at about $400/month. Unfortunately, I have no relatives in BC. Any other ideas? 🙂
(The following is my self storage work experience talking, not my banking experience.)
You could get a mailing address with a self storage facility, which give actual street addresses. Often, banks don't keep track of these addresses like they might a Canada Post PO Box or a UPS Store/PostNet mailing address so they're not wise to the fact that they're not real business or residential addresses. Now as a former banker speaking, I remember seeing this a few times, which is a "no no" KYC was. At HSBC, we were supposed to try and get the customer to correct that when we saw it by updating it to their residential address (called a "P1") and adding a "P2" address as their mailing address. 🙂
Cheers,
Doug
10:36 pm
December 12, 2009
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Trump said
Try this place.
https://spacelist.ca/p/bc/vancouver/225_w_8th_ave/300I bought an iMac off of a guy running a virtual travel business. They had open air multi share offices, 10x10 offices and offices as small as a telephone booth. Maybe if you looked for similar in Coquitlam, Burnaby or Langley a bit out of the more costly real estate in Vancouver.
Don't some of the big couriers have mail boxes with addresses vs PO box #?
I can tell you how to get a BC phone number too....VOIP.ms and put an app on your iPhone. $25 US and no expiry would last a long time.
Don’t know if either is legal to do and at sometime they need your correct address to mail T slips. And what would CRA do if they saw different addresses?
Has anyone out of province called and tried.?
CRA would not care because all they'd see it as is another mailing address. Banks require residential and mailing addresses, if different, but they're really just two mailing addresses set up on your profile. They only report the mailing address to CRA. 🙂
Cheers,
Doug
10:40 pm
December 12, 2009
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Loonie said
You probably don't need to maintain the address for the whole 33 months. What are they going to do if you sell the property or live elsewhere? Nothing. There is no requirement that you live there or have your mail sent there as far as I can see, only that you own property, which could be a vacant lot.
No suitable kids, Doug. I do have friends in BC who might cooperate, but, when push comes to shove, I would not impose on them.
But, if anyone currently drawing around 1% at BigBank would like to loan me $25,000,000 at 1.25%, I'll move to BC for real to take them up on it!
These kinds of numbers really demonstrate how much, cumulatively, that Canadians are losing when they leave their money in traditional banks - and how the rich get richer while the poor get poorer.
Awww...too bad, Loonie. 🙁
Funny you should mention that...back when I worked at HSBC, they had a sweetheart lending deal for employees (the service charge waiver was no hell, just HSBC Advance for free unless you were a Premier Relationship Manager or Branch Manager or higher, then you got HSBC Premier for free): Prime Minus 2% on secured and unsecured credit. Back then, it was about 1% (3%-2%). I thought about doing that but the spread wasn't wide enough. If it were still 1% and I could get 4%, I'd totally do it. Plus, I could write off the interest as an investment expense provided it was a non-registered GIC and I kept that LOC separate. 🙂
Sadly, HSBC changed the staff lending rates to "best customer rates" shortly before I left, executives notwithstanding, of course. 🙁
Cheers,
Doug
10:43 pm
December 12, 2009
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Marnie said
If Coast Capital is using numerology to determine the federal launch, they will not choose April (month 4) because it has the same sound as 'death' and May (month 5) has negative undertone like 'no' or 'not'. In my post 48, I listed June as one of the possible months other than August for their federal debut. June (month 6) has the same sound as 'direct unencumbered journey'. They will want to make a big splash so all of Canada hears them. It will be fun to see which month and which date they choose.
I didn't realize that about April or May. You're probably right on June or August then. I'm going to hope for June but August 1st would make sense also because it's B.C. Day so they could tie themselves back to their roots as they go national. 🙂
Cheers,
Doug
5:25 am
October 21, 2013
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I'm going to take the lazy route, and just wait. Hopefully, better rates will be available to all of us in due course.
When you consider that Oaken briefly offered 3.5% last summer, and it didn't kill them; and that BoC rates have gone up since then, it's not such a big stretch to think that FIs could afford 4% in the foreseeable future. Obviously CC thinks they can afford it now, so probably others can too but they aren't motivated to do so - yet.
11:17 am
December 12, 2009
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Loonie said
I'm going to take the lazy route, and just wait. Hopefully, better rates will be available to all of us in due course.When you consider that Oaken briefly offered 3.5% last summer, and it didn't kill them; and that BoC rates have gone up since then, it's not such a big stretch to think that FIs could afford 4% in the foreseeable future. Obviously CC thinks they can afford it now, so probably others can too but they aren't motivated to do so - yet.
Yeah, and Coast is still trying to grow their mortgage book as aggressively as they're growing their commercial loan book and GIC deposits. They place a strong emphasis on mutual funds but it seems to be less than the above three. 🙂
Coast reminds me, in many ways, of Canadian Western Bank, though CWB places much more focus on commercial loans but I think that's starting to change as that's what hit them hard with the oil price downturn in 2014. 🙂
Cheers,
Doug
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