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Email this7:11 pm
July 10, 2016
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I have some savings to use as down payment for my condo. The closing date is Oct-08 so I have roughly 3 months that I could use to invest to get some interest.
What do you guys think? Is it worth it to open a new EQ Account and put the money there for three months?
I might need to open one in my name and another on my wife's because we exceed the 100K limit.
To get the money out (let's say with a Bank Draft) is easy?
6:46 am
April 7, 2016
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I just moved EFT from EQ to Tng. I set up three transfers the same day for the max $30,000 and they all appeared in two days into my Tng. account
9:34 am
August 17, 2010
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Eq was working fine for transfers, but today I went in to transfer to tangerine and my links didn't show. I called and they said that they had some software updating to do and it lost some of the customers links!
Just when I thought they were getting it together.
11:07 am
July 10, 2016
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toto said
Eq was working fine for transfers, but today I went in to transfer to tangerine and my links didn't show. I called and they said that they had some software updating to do and it lost some of the customers links!
Just when I thought they were getting it together.
Oh, just noticed that Tangerine has a better rate for the period I need. Do you recommend Tangerine over EQ for my scenario?
11:09 am
December 7, 2011
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All my EQ linked accounts also didn't show today. And this is not the first time. The same condition happened 2 times before in March and April.
2:20 pm
August 17, 2010
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Eq did my transfer but it was painful it took so long. They said it will be days before my links show again.
2:53 pm
October 27, 2013
Online
By the time the account is opened and populated with funds, and by the time the money needs to be withdrawn. it will likely at best be 9-10 weeks of interest. That is about $260 of interest (before tax) based on $100k @ 1.5% (anyone can get at least 0.75% on an HISA almost anywhere as the alternative). It is not worth it....seriously.
3:39 pm
July 10, 2016
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AltaRed said
By the time the account is opened and populated with funds, and by the time the money needs to be withdrawn. it will likely at best be 9-10 weeks of interest. That is about $260 of interest (before tax) based on $100k @ 1.5% (anyone can get at least 0.75% on an HISA almost anywhere as the alternative). It is not worth it....seriously.
I'm talking 138K @ 2.25% for 3 full months (transfer now and withdrawn by end of september). It's roughly $800 before tax.
If it's hassle free, I think it's worth it, therefore my questions about the transfers.
Based on the recent link problems with the transfers I think I'll pass on EQ.
If you can, please comment on the Tangerine thread: /tangerine-bank/open-account-for-3-months-of-saving/#post19449. Thank you
5:32 pm
October 21, 2013
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If you can get a decent rate from Tangerine, I think you should take it.
They annoy me greatly with their lottery-style rates, but they make good on it and they are fast and efficient.
I have had nothing but trouble from EQ, and find their staff almost hostile, personally. I wouldn't trust them for anything that required a timely transaction.
Please write your comments in the forum.