B.C. Store Front in B.C. - FI with competitive rates. | GIC discussions | Discussion forum

AltaRed said
You might clarify whether you mean Lower Mainland or Southern Interior... if a physical storefront presence matters.  

Right. Revelstoke is too far.

Lower Mainland is what I am aiming for.

@LK

Thank you.

Coast Capital is now federal and is under CDIC coverage.

And due to past membership is a NO.

Doesn't matter CDIC or CUDIC but for sure CUDIC is better.

Thanks.
I just juggled numbers using this info and a good
across the line for 1, 2, 3, 4, 5 year GIC rates was Wealth Simple, EQ and Motive. I used some UNSCIENTIFIC excel sorts. Then looked at some with no RRIF, google ratings, and government intervention and had to rule all 3 out. And Wealth Simple is in Vancouver but appears to have no store front. And I compared Hubert, PT, Oaken and CWB rate wise and found CWB to be in 3rd and 4th position for GIC rates and last position for HISA rates. But rates appear good as long as the “lag behind” is consistent. And the CWB floating prime rate GIC is better than the Hubert quarterly for cashing in but the current prime rate of 4.6% is not as good as 5.2%. But since CWB pays interest daily, I am not the guru to say if there is a compounding factor that would say you get more at the end of twelve months with CWB. And if service is excellent, I can buy the lower rates as long as I use CWB ONLY for the overflow (going over CDIC amounts taking death of spouse in account or appropriate estate planning strategies).

I will wait a see if a gold nugget surfaces.

I have PT, PB, HUBERT, and OAKEN. My wife is coming into a nice inheritance that will over fill an account CDIC wise. I just opened PB a week ago to park some cash but just thinking now I need to open a Home Bank HISA for her as well. I better get on it soon!

The Hubert thing has been a huge farce and has caused me hours of work to get some levels of confidence back with our investing. What I see is ..... Access has done their 7th amalgamation .... and the unique group we were used to dealing with will be watered down, given more corporate direction, and will lose the quarterlies. Merging Hubert with Accelerate with Access definitely was not well planned. I still say the Access system should have met or exceeded the Hubert system before they merged Hubert with Access. A logical move should have been to leave Accelerate as is, then merge with the old Hubert system and then to a compatible Access system. For the first while I was siting on the fence, waiting to see if “better” will come, but when you look at what the final product is and can see the writing on the wall for losses of options and service .... I am definitely out! And I have been inconvenienced. And I have experienced bad service already that was escalated to a senior Hubert person that now has a different attitude and was surprised by asking one logical question the issue was off my shoulders and back to them......her response was “I suppose that could have happened”.

@norman1

Thanks for the explanation.

@RetirEd

Interesting!! I have yet to visit the downtown locations. And both have weakness on the phone but all in all I get what needs to be done. I have not yet set up the second bank account (HISA) at Oaken, but will soon. I like the Oaken set up for one logon for both Trust and Bank.

And there is no doubt, that banking preferences can be different as what I found at Coast Capital (Pitt Meadows) was likely the work ethics and attitude of the few that I had face to face with that made me close down my accounts and run.

I took my Coast Capital business to VanCity. I had an account with VanCity years and years ago in Maple Ridge then to Coast Capital and then back to VanCity but in Pitt Meadows. I find the Pitt Meadows branch to be nicer to go to ... but do admit I have seen some improvement in the Maple Ridge branch.

@RetirEd
I find VanCity to be much better than most. Never had error and I would never think to call them. Branch ATM closures might be due to the circumstances in the neighbourhood that it is in.

Ie. Maple Ridge. Drive through is open 24/7 but inside ATM closes when branch does, but used to be open 24/7. Too many homeless sleeping in the warmth (at the TD across the street too).

Ie. Pitt Meadows. Drive through is open 24/7 and as well the inside ATM. Sometimes the inside one runs out of money. So use the drive through with car or car less.

Citizens bank was my first experience with no store front. It was them or ING. Citizens answered my questions and ING had a round about way of making one to assume the answer. My preference was the more direct option. I would call Citizens to buy a GIC and if any of my older GICs were a lower rate, they would redo all of them to the new rate!! They offered! That was fantastic. I started with them here in BC and carried on with them when I moved to Calgary. I remember calling them just before midnight to buy my RRSP. I think there might have been a fax involved too ( and I had one).

I do recall an issue with using their ATM card ... the credit union (closest to me) in Calgary stopped accepting it. I forget how I did the work around for it. It might have been the telephone booth like ATM on the boulevard by Tim Hortons in Salmon Arm.

I forget when Citizens folded. When we were in Calgary or when we returned in 2005.

@norman1

Correct it did not close. After they stopped all personal banking and transferred out all their mortgages, I later noticed they kept it for their credit card business. It appears that the google search for Citizens Bank Vancouver has an erroneous link in it to Citizens Banking the USA.

Were your deposits through a broker after or before 2009?

The Citizens Bank of Canada is a virtual bank based in British Columbia, Canada. The ownership of the bank is with the Vancouver City Credit Union (Vancity). From 1997 up to 2009, the bank offered personal and business financial services using the power of the Internet. The bank is also engaged in the operation of Visa card services as well as foreign exchange services offered to non-retail members.

Change of Focus to Visa Card and Foreign Exchange Services

To better serve the needs of its members, the bank shifted its focus from personal banking to Visa card services and foreign exchange services. In order to make the shift possible, Vancity entered into an agreement with the Toronto-Dominion Bank to sell its retail loans. The shift in focus will turn the bank into a non-deposit bank and instead, it will become a Visa services and foreign exchange online bank.