EQ TFSA Savings acc 2.3% GIC 3 mo 2.5 % Same for RSP | Page 6 | EQ Bank | Discussion forum

christinad said
Just to clarify what i mean, with hubert you can set up multiple tfsa accounts as you can with eq bank unregistered. I looked at the interface again and it looks like you can only have one tfsa account with eq which is too bad.  

Are you positive you can set up multiple TFSA accounts at Hubert? I don't have TFSAs with them, but I do have RSPs. Each one (HISA & GICs) has it's own account number, but they are all under one contract number. I assumed that any registered account would be the same. Why would you need to have more than one TFSA at any FI? They can't be joint, the transactions have to be reported to CRA, they would have identical interest rates, would fall under the same umbrella for CDIC insurance, would just cause redundant record keeping for both you and the bank, and, overall be, a recipe for confusion and error. WHY?? I did try to open a 2nd RSP HISA @ Hubert. They offered it under my current contract number, with an option to create a new one. Couldn't see the point. Back in the day I did have several accounts at the same bank so I could actually separate funds for different purposes....one for emergency, one for the car, one for a downpayment, one for savings. All connected to a chequing account. I just no longer have a need to do that, and I have enough accounts to keep track of already.

christinad said
Yes at hubert i had emergency fund money and vacation money and i wanted to keep them separate as they are completely different purposes. At eq it is less important as i have shifted my vacation money to non registered but i still like that option. And no i see no reason to do duplicate work and track the purposes separately.  

Makes sense I guess. Whatever worx for you. All our registered accounts are maxed out and designated "The last money we will ever spend". We don't use them for emergency/vacation/whatever funds. Especially with the stupid TFSA re-contribution rules.

I have a couple TFSA's. One I purchase stock. The other GIC's. It is easy to shift the weighting of stock vs. GIC's.

HISAhopper said
I submitted the TFSA beneficiary form 2 weeks ago, but I've seen nothing in my account or I don't know where to look for it. Anyone?  

Same situation here. Submitted Successor Holder Designation forms by FAX on Dec. 17 with no response or indication in my account they have been received. I called and the CSR could not verify they were received. The TFSA accounts were new, and, at the time, there were no deposits to them. Deposits were made in January.

I will try again to ensure these designations are in place. It would be proper for that information to be available online.

HISAhopper said
EQ TFSA GIC for 3 months dropped to 2.3% (from 2.5%)  

That was quick, and no warning. The daily rate of 2.3% likely will also drop soon

Hi, I have a bit of a noob question about TFSA rates.

I have an almost topped up TFSA at RBC. If I moved that TFSA to EQ for their 2.3% GIC, would I be getting 2.3% on ALL of those previous TFSA funds, or just the 2021 $6K contribution amount (still to be contributed)?

Thx

It is really obnoxious that we have to wait '6 to 8 weeks' for these types of registered transfers. Can you think of any other money transfer that takes up to 8 weeks? I can transfer money across the globe in less time. It is clearly designed to be difficult, in order to discourage us from moving money because nobody has challenged them or changed the laws around this.

We have a term under Canadian law when someone promises a product, baits customers and then when they get there, changes the terms. Banks should be held accountable for the rate they promise, regardless of how long a transfer takes.

James said
It is really obnoxious that we have to wait '6 to 8 weeks' for these types of registered transfers. Can you think of any other money transfer that takes up to 8 weeks? I can transfer money across the globe in less time. It is clearly designed to be difficult, in order to discourage us from moving money because nobody has challenged them or changed the laws around this.

We have a term under Canadian law when someone promises a product, baits customers and then when they get there, changes the terms. Banks should be held accountable for the rate they promise, regardless of how long a transfer takes.  

Very good interest rate...I am doing...transfer
But it takes 6-8 weeks to be really too long.. I really can’t understand why it takes so long to transfer

James said
It is really obnoxious that we have to wait '6 to 8 weeks' for these types of registered transfers. Can you think of any other money transfer that takes up to 8 weeks? I can transfer money across the globe in less time. It is clearly designed to be difficult, in order to discourage us from moving money because nobody has challenged them or changed the laws around this.

We have a term under Canadian law when someone promises a product, baits customers and then when they get there, changes the terms. Banks should be held accountable for the rate they promise, regardless of how long a transfer takes.  

James said
It is really obnoxious that we have to wait '6 to 8 weeks' for these types of registered transfers. Can you think of any other money transfer that takes up to 8 weeks? I can transfer money across the globe in less time. It is clearly designed to be difficult, in order to discourage us from moving money because nobody has challenged them or changed the laws around this.

We have a term under Canadian law when someone promises a product, baits customers and then when they get there, changes the terms. Banks should be held accountable for the rate they promise, regardless of how long a transfer takes.  

I sent my RSP transfer form to EQ via email on Jan 17 & the money finally reached my EQ RSP account Feb 25th. PS: minus a $150 transfer fee plus tax. Sad

annie said

I sent my RSP transfer form to EQ via email on Jan 17 & the money finally reached my EQ RSP account Feb 25th. PS: minus a $150 transfer fee plus tax. Sad  

Excuse me, which bank is the transfer out, so expensive  

TD Waterhouse