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Email this1:22 pm
April 21, 2022
Online
Bill said
They might respond later if competitor increases force them to keep up.
What really gets their attention is when deposits significantly vaporize, then they'll realize they need to respond. If the deposits stay stable, there may be no incentive, or reason to increase the rate when they can capitalize on the spread. It's a different matter when they're trying to lure in deposits, that's when they'll get very competitive.
I've noticed over the last few months many financial institutions are focusing on drawing in GIC deposits as they are much more stable, leaving their HISAs lackluster. I think it's a brilliant strategy on their part and will be quite lucrative as BoC rates continue to creep up.
1:40 pm
September 24, 2019
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We certainly are losing ground more and more. When you are at a certain age and been retired for awhile you can't say, "I'll work another couple of years in order to gain back some of that lost ground."
Loads of homeowners, including myself, are down over $100K from February/March this year in terms of our home value. But realistically, in the end, it is just that much less for children/or grandchildren to inherit.
1:44 pm
April 21, 2022
Online
Alexandra said
Loads of homeowners, including myself, are down over $100K from February/March this year in terms of our home value. But realistically, in the end, it is just that much less for children/or grandchildren to inherit.
On a positive note, how much are you up from the purchase price of the home?
1:51 pm
March 30, 2017
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canadian.100 said
I think you are quite correct. I believe the increases are going to be very slow in coming from here on - the "leaders" are still saying that inflation will be down to ?? 2.5% or so in ?? months from now. GIC rates of 4% to 5% are pathetic considering inflation is around 9%. "Guaranteed" loss of wealth and purchase power.
Thats exactly why I was saying 1y GIC at 5% by August is not going to happen. Banks are to make money for its shareholders and not depositors, they have zero reason to go lock them with BoC, esp when o/n is still 2.5% only and they are already paying 4%+ for 1y money. Now I dont even remember which thread it was on that I made "1y aint 5% comment" lol
I would love to see GIC rates higher too, but thats not realistic....
2:00 pm
January 10, 2017
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savemoresaveoften said
this is great. 3% trumps Tang 2.8%, bye bye Tang.
I agree!. Do you know if there is a pull $$ limit at either Motive or Tang. From Motive I plan to pull from Tang.
2:02 pm
April 21, 2022
Online
Lodown said
I agree!. Do you know if there is a pull $$ limit at either Motive or Tang. From Motive I plan to pull from Tang.
"Me to Me Features:
Transfer to and from Motive account(s) with external bank account(s)
Personal accounts only (Savings or Chequing accounts only)
Link up to five 5 Canadian financial institutions
Outgoing limits of $150,000.00 per transaction (max $999,999.99 a rolling 24 hour window)
Incoming limits of $999,999.99 per transaction (a rolling 24 hour window)
Minimum limit of $10.00 per transaction
CANADIAN FINANCIAL INSTITUTIONS ONLY
CAD funds only
Business and US accounts excluded
*Transfers to external accounts can’t be completed through the Mobile App.
Note: Transfers to/from RRSP & TFSA accounts are not available."
3:05 pm
January 10, 2017
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JohnnyCash said
"Me to Me Features:
Transfer to and from Motive account(s) with external bank account(s)
Personal accounts only (Savings or Chequing accounts only)
Link up to five 5 Canadian financial institutions
Outgoing limits of $150,000.00 per transaction (max $999,999.99 a rolling 24 hour window)
Incoming limits of $999,999.99 per transaction (a rolling 24 hour window)
Minimum limit of $10.00 per transaction
CANADIAN FINANCIAL INSTITUTIONS ONLY
CAD funds only
Business and US accounts excluded*Transfers to external accounts can’t be completed through the Mobile App.
Note: Transfers to/from RRSP & TFSA accounts are not available."
Thanks. Great info to know...kudos to Motive for putting this out!
I tried finding the same/similar info for Tangerine but no luck. I don't know why this type of info is so hard to come by. Specifically, I'd like to know if Tangerine will stop/prevent a pull from another FI (such as Motive) that is well over $100k. Kudos to Motive!
6:18 pm
September 24, 2019
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JohnnyCash said
On a positive note, how much are you up from the purchase price of the home?
There is that alright. Not as much as some because of bidding wars etc. when I purchased. Also an expensive mandatory system had to be put in a year later.....and probably a new roof in the next year or so.....but certainly much better off than if I had stayed where I was. Much. And you?
11:14 am
August 1, 2021
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I applied yesterday( I am in ON),
Put all the info and receive an email saying they need more info.
This morning, I received an email telling me the application was denied.
I called and ask why and they told me maybe the score on Equifax needs to be a high one!!!
I told the rep: my is 830.... need to be a perfect 900 to get an account with you?
I asked to know on what ground they refused, and he say he will try to escalate, I will check in a week if I got something or if my application was trashed.
11:48 am
April 21, 2022
Online
Rebelyouth said
I applied yesterday( I am in ON),
Put all the info and receive an email saying they need more info.This morning, I received an email telling me the application was denied.
I called and ask why and they told me maybe the score on Equifax needs to be a high one!!!
I told the rep: my is 830.... need to be a perfect 900 to get an account with you?
I asked to know on what ground they refused, and he say he will try to escalate, I will check in a week if I got something or if my application was trashed.
The rep will not know precisely why you were denied, other than it likely being related to your Equifax report. The first step is for you to get a copy of your Equifax report and compare it in detail to what you entered in the online application. I honestly don't think it's related to the score at all, well maybe, if you have an extremely low one.
12:10 pm
August 1, 2021
Offline
The info is matching, I double-checked after the call.
They have an automatic system for some parts, like your address and I review the application before submitting it.
So will be nice to know what they didn't like about it ( I have no debt, my CC card ratio is at 15%, and I do not open and close accounts).
Probably nothing will append: the rep maybe escalate and they will never give an answer about it... I will surprised to receive an answer.
Too bad, was a nice deal until last ( probably next summer, when they will start to decline again), but I have Tangerine until Nov(HISA tho), so I am not really unhappy.
Just my 2 cents for other people who will decide to apply.
12:30 pm
April 21, 2022
Online
Alexandra said
There is that alright. Not as much as some because of bidding wars etc. when I purchased. Also an expensive mandatory system had to be put in a year later.....and probably a new roof in the next year or so.....but certainly much better off than if I had stayed where I was. Much. And you?
Everyone is likely getting a beating in the markets, real estate, stocks and crypto, etc, I'm no exception. Life goes on though, perhaps we will give this economic period a name, ' The Great Reset '. If history is our guide, then we can find some comfort in knowing eventually the markets will turn positive again once we have inflation under control.
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