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Email this7:42 am
February 20, 2018
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Where to read or anything new/necessary in these pieces? Post or send to pm
7:48 am
October 27, 2013
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Shouldn't be promoting bypassing paywalls, i.e. theft, on media such as this. Pay for the digital subscription if you are that interested.
8:16 am
December 12, 2009
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You can read the digital edition of The Globe and Mail through the free PressReader mobile app - that would be the best way to read the Globe's articles for free as not all Globe articles are published on ProQuest's NewsStream and Canadian Major Dailies electronic databases. The Globe is one of the few profitable daily newspapers and needs less of our financial support than the National Post/Financial Post, the latter of which has much better quality of writing, in my view.
The only downside is that you will need to read the Globe via PressReader using your public library's free wifi or a public library computer as the Globe does not enable remote access with your library card.
In regards to the first article, the gist of Rob Carrick's article is that the number of banks and credit unions offering GIC rates above 3% has fallen to only a handful (which is true for those with national reach). He recommends the 1-year GIC from Hubert at 2.85% and a 5-year GIC, also from Hubert, at 3.4%, apparently. Also recommends GIC terms of 1-5 years from AcceleRate and Oaken Financial at 3.1-3.3% (might be out of date now, at least with respect to AcceleRate's decrease).
He refers to this website and to CANNEX for monitoring GIC and HISA rates. Basically, if you're monitoring those websites regularly, you don't need to waste your time with Rob Carrick's columns, in my view. (We already knew about these rates. Nothing special here. 😉 )
Cheers,
Doug
8:24 am
December 12, 2009
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In the second article, Rob Carrick basically summarizes, in his view, the types of interest rates on savings accounts:
- A competitive interest rate offered to all customers, all the time;
- A "junk rate," with the hope that customers will be naive (this is apparently the strategy of the "Big 5" banks and many large credit unions, including Coast Capital Savings whose "high interest savings account" rate is ~1%); and,
- Offer a competitive rate to some customers, sometimes (this is apparently Tangerine's and others' refocused targeted rate offers).
Like me, Rob Carrick prefers the first option. As I've said, I'm done with Tangerine's targeted rate offer games and moving money every quarter is tiring and wastes my time needlessly. I'll accept 20-25 bps lower rate that is still competitive. 
He then references this website's "comparison chart" again and notes 12 accounts offering 2.25% or better on a HISA, which he views as competitive. He speculates some of them could be teaser rates, but us astute website and forum regulars will check the "rate history" dialog for each that Peter keeps track of for us and see how long it's been in play. Rob may not have used, or know about, that feature.
In sum, not much else of any significance in that article.
Cheers,
Doug
8:43 am
February 20, 2018
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Thanx Doug
2:53 pm
December 18, 2008
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I have also noticed that he never seems to mention Motive Financial.....no love for Canadian Western Bank online branch with its 2.8% interest account
3:00 pm
December 12, 2009
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Shawguy said
I have also noticed that he never seems to mention Motive Financial.....no love for Canadian Western Bank online branch with its 2.8% interest account Â
Who, Rob Carrick?
I know what you mean. I've also noticed there's not a lot of love from the Ontario contingent of forum members, notwithstanding Briguy and a handful of others, on this forum.
In another article, Rob Carrick called Alterna Bank's online banking "clunky" and "outdated". I can't say I disagree with him more. Alterna uses MemberDirect, like just Motus Bank and MotiveFinancial do, which has wonderful Me-to-Me Transfers and detailed e-Statements. Just because Motus Bank might have a nicer, fancier front-end look & feel, it's still ultimately the same technology that Alterna uses. 🙂
Cheers,
Doug
8:22 pm
June 3, 2015
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Doug said
offers).moving money every quarter is tiring and wastes my time needlessly.
Doug Â
yet you still make time to write 20 to 40 posts here a day....what's up with that?
Tangerine....Canada's best bank. LBC.............Canada's 2nd best bank.
Hubert.....worst bank in Canada.
9:11 pm
April 6, 2013
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Shawguy said
I have also noticed that he never seems to mention Motive Financial.....no love for Canadian Western Bank online branch with its 2.8% interest account
Rob Carrick has.
… Motive Financial, an online bank operated by Canadian Western Bank, has introduced a savings account paying 2.8 per cent (Motive Savvy Savings Account) …
A month later in Do you have a favourite bank for savings and GICs? (March 26):
… That’s why I have my eye on the Motive Savvy Savings Account, paying 2.8 per cent.
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