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Email this3:19 pm
December 29, 2009
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is there any bank accounts or saving accounts or any other financial instruments out there that is liquad that pays over .75%. hubert savings in us dollars pays that amount. is there higher out there
4:27 pm
July 31, 2013
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I can't find anything and anywhere that U.S. dollar savings accounts pay more than 0.50% to 0.75%. Just so you know, any deposits in U.S. dollars in Canadian federally regulated financial institutions is not covered by CDIC.
This means banks, trust companies, mortgage companies across Canada. For other deposit insurance that is from Assuris, covering life insurance companies and credit unions which have provincial deposit insurance go to my prior post of September-8-2013 at 1:27 P.M.
There I listed all the individual websites for each province. You can visit to see what the current applicable deposit insurance coverage is for each. CDIC does not cover U.S. dollar deposits or any other foreign currencies deposited in Canadian federally regulated financial institutions. This is a fact.
11:01 am
December 29, 2009
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thanks for the info SD2013, I was with icici us high interest savings account which pay .75% and they just dropped the rate to .50% A pretty big drop.
1:52 pm
December 29, 2009
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i just emailed hubert financial and i found out there us savings is .75%. sound great but they cannot link bank accounts yet and to deposit money u have to send it by mail. if u want the money out of bank account u have to pay wire fee of $22.50
7:46 am
October 21, 2013
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I was thinking about this very question the other day, before I read this thread, and it occurred to me that the only place to have a US dollar account is probably somewhere like a MB credit union, because they insure deposits in foreign currencies PLUS they offer higher rates. What could be better?
But then I too discovered it could be quite cumbersome, not to mention expensive, to move money from one place to the other.
I know that with banks, they seem to want you to change your money into Cdn before they will let you do much of anything with it, for instance. If it's going to be the same with other institutions, or if there are fees such as at Hubert, then the only purpose for having the account, as far as I can see, would be as a hedge against our dollar falling, but it seems to me a fairly crude way of doing that. There must be an easier way, some other good investment that is denominated in US dollars, but I don't know what that would be.
Any suggestions?
10:43 am
December 29, 2009
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what credit union has a higher rate than .75% in us dollars.
2:00 pm
January 14, 2014
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doc said
what credit union has a higher rate than .75% in us dollars.
You can earn up to 2% interest on USD at connexuscu credit union. But they are US based. Not Canadian based so I don't know if you would be able to open an account
4:56 am
May 28, 2013
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Several years ago when CDN$ was above US$ I bought $200K in my business, moved it all to ING (now Tangerine) and bought GICs which I laddered. Over time I paid myself in $US and again moved any surplus to Tangerine (I hate that name by the way). So I keep some US$ liquid and the rest I have in laddered GICs. Yes I know these funds are probably not covered if Tangerine (ScotiaBank) goes tits up but if that happens we have a lot more to worry about.
For the next 10 - 15 years I can spend that US$ and in my mind it's all at par!
Additionally I can't remember the last time I bought a case of beer in Canada. Same goes for clothing and a lot of other stuff (my wife likes to shop). Call me unpatriotic if you wish but it's our government waste I am protesting not the retailers. They get my dollars but not when their prices are so high compared to US. Let's not get into the 13% HST
OK OK enough of my ranting.
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