Have you ever dealt with GICwealth.ca ? | Page 2 | GIC discussions | Discussion forum

Loonie said
I found these two articles to be of interest. They are old, but so are deposit brokers. I don't think much has changed.

https://www.theglobeandmail.com/globe-investor/personal-finance/trifling-gic-rates-try-a-broker/article1207298/

https://www.theglobeandmail.com/globe-investor/investment-ideas/the-gic-ladder-make-a-little-more-at-no-risk/article791134/

So, you can apparently buy GICs from FIs that would not otherwise serve you due to geographical restrictions if you go through a deposit broker. The second article talks about how that applies to some CUs in BC. BC CUs have unlimited insurance coverage. http://www.cudicbc.ca/

The question arises then as to whether this inter-provincial flexibility extends to Quebec, which is often left out.
GICDirect, a brokerage which Doug referred to above, offers listings of GiC rates available to you according to the province in which you live, including Quebec. In clicking on Quebec, I thought the rates seemed comparable to others - without doing a detailed study. http://gicdirect.com/index.php.....Itemid=174
GICDirect has an affiliated broker in Dollard-des-Ormeaux. Those living in Quebec can probably find out what is actually possible for them by contacting this person.  

Interesting point about the geographic restrictions, Loonie. Yes, B.C. is one of three provinces in Canada (based upon data I have gathered) that do not permit out of province residents to become members (the others being Alberta and, I think, Quebec). If they are able to buy GICs for you, then they must be doing it through FundSERV and be held, institutionally, for your benefit in "nominee form" (i.e., the deposit broker's name through FundSERV and through a custodian, like a discount broker). 🙂

GICdirect.com has a corporate entity that enrolls new customers online or you can visit a local affiliated, commission-based deposit broker to enrol in person. I see their online sign up process is currently down still. 🙁

Cheers,
Doug