EQ changing GIC cancellation term on May 5, 2018 | EQ Bank | Discussion forum | Canadian High Interest Savings Bank Accounts

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EQ changing GIC cancellation term on May 5, 2018

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EQ changing GIC cancellation term on May 5, 2018

April 5, 2018
2:05 pm

frugal lady

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February 20, 2013

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EQ is changing the right to cancel a GIC purchase to 1 day from effective purchase date (I believe it is currently 10 days)

July 4, 2018
3:58 pm

yesmath

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October 10, 2017

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Since they're open 7 days a week, if I buy on a Friday, does that mean I have until Sat 11:59pm for buyer's remorse?

July 4, 2018
5:46 pm

Norman1

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April 6, 2013

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I don't think Saturday is a business day under their GIC Agreement:

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Effective and Maturity Dates

For a purchase made on a business day, your GIC’s Effective Date will be the date of your purchase. For a purchase made on Saturday, Sunday, federal holiday or publicly-observed holiday in Ontario (non-business days), the Effective Date will be the next business day after the date of your purchase. You will be notified of the Effective Date at the time you purchase your GIC.

The Maturity Date of your GIC will be the day after your GIC Term ends. You will be notified of the Maturity Date at the time you purchase your GIC.

Note: Effective and Maturity Dates are based on Eastern Time; for example, a purchase made at 10:00 p.m. Pacific Time will be considered to be made at 1:00 a.m. Eastern Time the next day.
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