Brokerage investment savings accounts | Page 29 | General comparisons | Discussion forum

savemoresaveoften said

Scotia itrade may be the only one that allows purchase of F by non advisors.  

You can buy Series F on Qtrade. They offer many including the Scotiabank ones that are best in class for rates, and are free to buy and sell.

canuckles said
Do we receive T slips for the interest earned on ISA's? I'm not sure how I'm going to calculate my interest income for my tax returns because I have lots of in/out transfers and reinvest the income.

Yes you'll get a T5, with the total interest, so no calc needed, unless you think there is an error. You'll get one for each fund.
I keep a running total, on purchases, sales. and interest received.

realtalk said

You can buy Series F on Qtrade. They offer many including the Scotiabank ones that are best in class for rates, and are free to buy and sell.  

I did not see the Scotia bank funds in Questrade the DYN series like DYN6005 OR DYN6004, neither A nor F nor the CAD or USD. Also Questrade charges $9.95 for trade of ISAs buy & sell. I bought the USD ATL5075 series F on questrade recently.

Could you please let me know of the DYN series in Questrade and how to get the free trades?

AltaRed said
Not necessarily. Some may issue one T5 for each corporate entity.  

Thanks AltaRed, I considered being more precise, but the words didn't come easily enough.

I have DYN6004 (bank), and DYN5004 (trust company), and have a T5 for the first. Still waiting for the 2nd.

I'll add that there is a pretty decent selection on qtrade, and no fee.

If you're doing a manual calculation, be careful to ensure that the months you pick are the ones in the proper tax year! Do you add the December (last year - for last year's taxes) or December (current year) amount or is it the January? Does the amount you are recording cover interest paid on the December as December's, or should it be reported in January, when it was paid?

Banks have varying interest payment dates and practices. You should be able to call in and ask. I always have to double-check monthly payments.

hwyc said
Hm. Looks like the Renaissance fund code changed recently. It was ATL5000 in #530 dated Jan 11, 2024. Then it is ATL5070 in #553 dated Feb 17, 2024 & thereafter.

Now this ... I see a promotional rate of 0.45% on eligible new deposit, effective February 12, 2024, on their product page. Wonder anyone benefited already? Too bad TDDI only offer TD HISA   

yes can confirm the bonus for ATL5070 is real, and shows up as separate transaction when they pay out, only good till sometime in Jun tho, mark your calendar.

I am not sure what you mean by 'switch'. You have to first sell DYN6000 and then buy ATL5070. The orders should be able to be placed on a weekend though they will not be 'confirmed' until COB on Monday, and both will settle by COB Tuesday.

Promotional Rate†
Eligible New Deposits only* (up to $7.5MM) to RHISAs held by:

CIBC Wood Gundy All Other Dealers
0.45% 0.45%

Wood Gundy is a high fee full service dealer. Are self-serve Investing outfits like the banks have considered to be "dealers"?

If not, the .45% will not apply to them. Anyone considering this should call in and make sure.

Loonie said
The rate in a money market fund is not guaranteed.
Banks always describe best case scenario in order to get you to buy in as they will not be financially responsible for the rate, so it gives the bank more flexibility. When they said "or a bit more", that was your cue to be aware that the rate of return is uncertain.

With an ISA, you will get the posted rate, but it is subject to change of course, like any savings account.

That said, it could turn out that you do better with the money market fund - or not.  

When rates are falling - like now, MMFs can be found that always outperform HISAs. The reason being MMFs invest in short term deposits with 3-12 month future end dates while HISAs react to daily interest rate changes.