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Email this7:57 am
July 31, 2012
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Hello. I've been lurking on this forum for a while but don't see a discussion on the attributes of each institutions online banking services. I might be missing it, but would like to get feedback. I'm interested in things likes ease of having linked accounts; whether mailed in cheques are required or it can be done in virtual world. The ability to download transactions to Quicken or similiar home finance software. One of the benefits of virtual banking is the ability to easily move things around, but I realize that might not be in the institutions. This is a great forum for access to information in one place that would otherwise take much more effort to accumulate and thank all posters for their efforts.
8:45 am
February 22, 2013
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Things I want to know before I commit -
-- electronic transfers - yes or no. No is generally a show stopper
-- multiple transfer points - if yes, how many, and how easy is it to set them up (electronic or mailed paper). If "lots" then this bank could become my "hub" for transfers, if the setup is "reasonably" easy. If only to "primary" bank then this bank needs a superior interest rate to qualify.
- do they offer US accounts?
Once a bank gets "accepted" by me I then want to test speed of transfer by doing actual transfers.
So, from my experience, as has been written about here in other posts
Canadian Tire Financial - single end point - reasonable speed, mediocre interest rate
ING - three end points - US account, spectacular transfer speeds, mediocre interest rate with frequent "specials" - which elevates their rate to high
PC Financial - multiple transfer points, but mail needed to set up after the primary, slow transfers (you need to post date everything to tomorrow to make a transfer), mediocre interest rate with frequent "specials" - which elevates their rate to high
Implicity Financial - single end points, paper setup (going to be electronic to multiple end points by the summer of 2013, oooops, not yet), superior interest rate, I plunked $1000 there to keep my hand in
I also have HISA's at BMO and RBC (RBC being my primary bank) and neither allow transfer out and their interest rates are low. Both offer US accounts.
Hope this helps
Greg
3:12 pm
September 3, 2013
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one of the good things for PC is that you could use cibc machines, which is convience for the people in small town, such as me.
however, ing could not use scotia machines for free, shame of it.
9:23 am
May 15, 2007
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We have lots of this type of information in this chart:
https://www.highinterestsavings.ca/comparison-of-services-offered-by-high-interest-savings-banks/
With everybody's help we could add more elements to it.
We're also gathering more structured reviews on the profile pages:
https://www.highinterestsavings.ca/profile/
In the future it would be nice to have some sort of search interface where you can check off the features that are important to you and get a list of results.
Please write your comments in the forum.