EQ TFSA Savings acc 2.3% GIC 3 mo 2.5 % Same for RSP | Page 8 | EQ Bank | Discussion forum

annie said

…I don't know if I can register when I live in BC?

Yes, Hubert Financial will accept clients who live outside Manitoba.

Their FAQ answers that very question:

I don’t live in Manitoba. Can I open an account?

Absolutely! But first, you have to meet a few requirements. You must be:

• at least 18 years of age
• have an account from another Canadian financial institution
• have a valid SIN and email address
• agree to invest in a $5 refundable share*.

Unfortunately, at this time, we cannot offer Hubert services to Quebec residents. Hubert only offers personal accounts. You cannot open a business or trust account with Hubert.

*For joint memberships, each signer is required to have an individual $5.00 share.

Loonie said

I am not especially fond of phone contact with FIs either, but a lot of that is because it's such a miserable experience, being on hold forever with horrible music and repetitive messages you are not interested in, then ultimately getting someone who can't answer your question, waiting around for someone else, etc etc. At Hubert, a real person answers the phone fairly promptly and usually can deal with your question. I value that, and there are no fees for this hgh level of service.  

I agree that the Hubert customer service experience is good, I've occasionally used their chat service and it's always been pretty quick. Having said that, I've always had prompt service from Ideal Savings and Access too. Maybe it's a 'friendly Manitoba' thing to not treat customers like annoying gnats to be shooed away

My 2021 3Mo. TFSA contribution matures on 1st of April with EQ. Originally at 2.5% now for same term, 2.3%. I think I'll just put it in for another 3mo. Was thinking just throwing it in a 10yr for 2.25% so I don't have to be bothered with it anymore. Never going to use it anyway. All this uncertainty with such low rates. Thoughts?

Alexandra, you're never going to use it anyway? Well then why not ask the person(s) who will get it some day where to park it, let them make the call

Alexandra, I would look at how large this particular TFSA is. If it's just this year's contribution or other smallish amount, then I wouldn't put it into ten years, or even five, simply because it gets unwieldy having multiple smallish TFSA accounts, not to mention transfer or exit fees that may emerge over the intervening years.
I would probably renew it for another 3 months and see what comes up after that. Alternatively, I would try to invest it for a term that, upon maturity, will more or less coincide with either another TFSA redemption or another TFSA contribution opportunity, so that you combine them as you see fit to have only the number of accounts you want. TFSA clutter could get even worse, with an extra ~6K per year.

But perhaps this is a largish lump sum, in which case longer term or laddered steps might be more desirable. Most of us who've been putting money in regularly probably have at least 85-95K in TFSA by now, even if only very conservatively invested, so it's large enough that one could justify breaking it into five steps.

Thanks Loonie,
It does get cluttered alright, especially with TFSA's. I have the top conservative amount that you mentioned. I've cashed a couple of TFSA GIC's with Tangerine and last year with RBC (originally Ally/Resmor), generally leaving the funds in TFSA HISA until end of the year, cashed them and repurchased at another institution in January. With the rest, I have pretty much done what you have suggested i.e. combine when they mature into one GIC. I always purchase the contribution year GIC alone then merge with others at maturity. But because we've (most of us in here) been chasing the best rates, one ends up holding GIC's in a few (many?) financial institutions. I am now doing my best with all GIC's be they registered or non registered to consolidate when possible. Another story though with HISA's. Most of the cash now sits in Canadian Tire, Motive, and EQ. As I have said before, I do ladder GIC's, but now I get them paid out annually instead of letting the interest compound.

Right now I find it fun doing all of this, but upon my death, I don't think my daughter would!! Thus, trying to make it easier for her one day as well. Still hoping to put in another 18 years in though.