TD WebBroker ISA (Investment Savings Account). | Page 2 | Investing | Discussion forum

Dean said

In spite of that ⬆, many brokerage investors don't even know they exist ... especially the DIYers. Up until about two years ago, that was my case too. Back in 2020 I found out about ISAs from the Good Folks here on these forums.

Dean

  

I didn't know they existed until I read the 'frustrated money push pull push' thread a couple of days ago where the TDB8150 was mentioned. I guess I didn't miss much considering interest rates are just now making it worth doing. 2.85% and may grow with rate increases? What a great and liquid way to earn instead of just having a bunch of money doing nothing in my brokerage account while I wait for the market collapse ! Was quite easy to buy too. Did a moderate test buy to see how it worked yesterday and then a large one today.

RAV4guy said
Following the early discussion here, I bought some DYN6004 in my Scotia iTtrade account and the transaction went through. The information in this forum is quite useful as Scotia Bank is not going to tell us about this. There was also no commission on the transaction. Mr. Thrifty is a useful link.  

I won't be surprised if they "fix" this once discovered. The F series funds in USD (DYN6005/5005) will not go through.

I just put in another order for some TDB8150 and it's now listed at 2.90% on the order form. When I did so yesterday it was 2.85%.

Yes, they've been around forever, they are designed so that brokerage clients can make some interest while their otherwise uninvested funds are sitting in cash. They are only of interest on here recently because their rates happen to be not bad right now, they are not really designed for retail savers who have no other business with the brokerage even though if you want to open a brokerage account solely for that purpose I guess they wouldn't stop you. They have nothing in common with the usual mutual funds people are familiar with, they are just set up to be bought and sold as mutual funds even though it's really just cash in a savings (ISA) account.

bobwatford said
I just put in another order for some TDB8150 and it's now listed at 2.90% on the order form. When I did so yesterday it was 2.85%.  

... so soon

Bruford said
So are their gains treated as capital gains or interest income?  

As Bill said above, interest income. Of course if you hold it in an RRSP or TFSA, no Tslips.

There is actually no gain in the unit price of the ISA's. Interest is handled by receiving more units.

savemoresaveoften said
For CIBC IE customer, it looks like ATL5XXX series CAD are now also 2.9%  

As it is for the BMT series for BMO Investorline customers. All the major banks end up at about the same rates.....which is not collusion. It is simply the math of what the banks likely invest the deposit funds in, .e.g. BAs and the like. Not far off the BoC overnight rate.

The USD equivalents of these ISAs will likely start to move up from ~2.2% by the end of next week after the US Fed rate increase Sept 20-21.

savemoresaveoften said
For CIBC IE customer, it looks like ATL5XXX series CAD are now also 2.9%  

Thanks, just changed since early this morning. There's a pattern establishing where Renaissance (CIBC) is a week late raising rates vs. the rate leaders.