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hopefully, more high interest saving accounts from banks, trust companys, and credit unions will open up in the future that will keep interest rates at a higher rate that will cause competion between the other banks that are lowering there rates

As I like to give my "unofficial" quasi-"stamp of approval" to new high-interest savings account (and GIC) providers, including so-called "virtual" banking divisions of either federally-chartered banks or provincially-incorporated credit unions, I'd like to give my "thumbs up" to including "Le Capitale Financial Group" and "Oaken Financial" (an odd brand that I didn't get at first, until I put 'two & two' together with their unofficial squirrel and his oak nut mascot) in the "comparison chart".

Le Capitale appears to be a subsidiary of a mutual insurance company, owned by its policyholders (similar to Wawanesa Mutual Insurance for those out west), and oddly uses a squirrel-and-nut mascot as well. Their website, logo, mascot and layout are beautifully designed. They do say their promotional rate is a limited-time offer for new accounts on all new money transferred in for three months. It's in effect in perpetuity for all new accounts, but could be withdrawn at any time without notice. Their regular rate appears to be 1.30%, roughly in line with PC Financial or Tangerine (formerly known as ING DIRECT Canada).

Glad to see Home Trust has "branched out" (no pun intended - the tree/nut puns are limitless!) its directly-sourced deposit offerings into high-interest savings accounts under a separate, but united, brand (Home Trust Deposits and "hometrustdeposits.com" simply weren't going to cut it). A bit disappointed "online banking" is coming soon - hopefully it will be sooner rather than later (right Greg!?) and that they'll go with the MemberDirect platform instead of building out their own.

On the plus side, no fees on either is a good thing. Appears no debit card, but they can always add that later (potentially).

As for FirstOntario, again, I'd like to see this one included but given it's for Ontario residents only, I'd wish to see it not included at this point. It should be available on CANNEX. I will, however, add it (soon!) to the "Chequing Accounts" comparison chart as they have a great free chequing account for all Ontarians.

Cheers,
Doug

Correction: Equitable Bank is only available through financial advisors' and deposit brokers' FundSERV platform, and thus, should not be added.

That said, I do remain fully supportive and would like to see Le Capitale Financial Group and Oaken Financial added. I assume Le Capitale's deposit insurance would either be through the provincial deposit insurer of Quebec (possibly) or maybe the federal insurance insurer and regulator (wow, that sounded funny! isn't that a bit of an oxymoron, an insurance regime for the insurance industry? I digress. )

Cheers,
Doug

Okay, I finally found that residency restriction for Le Capitale Financial Group (too bad! love the squirrel!) SD2013 was referring to. Thanks, SD2013!

With that, I'd like to change my recommendation/endorsement that only Oaken Financial, a division of Home Trust Company, be added to the "comparison chart" and a forum created. (If a forum already exists for Home Trust Company, that one could be used and just linked via the "comparison chart"). It definitely should be added.

If the chart is getting somewhat full, maybe it's time to start using a bit of "editorial discretion" and removing a savings account (or two) that either has a sub-par customer experience, below average "features" or a combination of lower rates and higher (or high) service charges. One such account that fits that bill to a tea, if you ask me, is Manulife Bank's Advantage Account. Is anyone actually still using this account!? It only pays 1.5%, is expected to go down soon and I believe they charge either $5.00 (possibly $1.00, but I don't think so) for every debit that isn't a transfer to another Manulife Bank account. That makes it ... on par with the "Big 5" savings accounts and I don't think we want to start adding their savings accounts to the chart.

For the few people that still use Manulife, rates are available on Cannex and a disclaimer could be added to the "chart" that only high-interest savings accounts that offer above-average rates and minimal (or very, very low fees with a certain number of "free" transactions per month) are added to the "chart" going forward.

Cheers,
Doug