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Email this7:21 pm
August 11, 2023
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Hoping this hasn't been posted before. I don't use the site often and didn't see an easy way to search this specific forum.
With a quick glance at the HISA chart, Wealthsimple is currently #12 of 18 institutions on the chart at 2.25%, but this is only for Core clients (under $100K in total assets). The current rate for Premium clients ($100-500K) is 2.75%, and the rate for Generation clients ($500K+) is 3.25%, which puts it at #3 of 19 in the chart. With the current low rates, and extra .5% is significant. It would be nice to see the three levels broken out.
Not sure what kind of a can of worms this opens up regarding other institutions, but these are not promo rates.
8:44 pm
April 6, 2013
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Should leave such $100,000+ and $500,000+ rates off the chart.
Don't want to see any institution in the future appear at the top of the chart by disingenuously offering a 4.25% HISA rate for $5,000,000+.
8:54 pm
April 27, 2017
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Don’t think it’s “disingenuous”. $500K in investments isn’t particularly unusual and below median net worth. They also offer bumps in interest for depositing salary in their cash accounts.
Perhaps a footnote?
11:13 pm
September 28, 2023
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I agree with just having the base rate (first $ invested with no direct deposit or other requirements) on the chart, and the uprates be a footnote at most. If every uprate was included on the chart, it would become very cluttered, and would cease to be an apples-to-apples comparison.
11:34 pm
April 21, 2022
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everhopeful said
I agree with just having the base rate (first $ invested with no direct deposit or other requirements) on the chart, and the bonuses be a footnote at most. If every bonus rate was included on the chart, it would become very cluttered, and would cease to be an apples-to-apples comparison.
Yeah, better to only consider the base rate with a sidenote indicating any premiums on meeting deposit thresholds.
6:02 pm
December 12, 2009
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mordko said
Don’t think it’s “disingenuous”. $500K in investments isn’t particularly unusual and below median net worth. They also offer bumps in interest for depositing salary in their cash accounts.Perhaps a footnote?
A footnote could work, but I agree, we should be using the base rate everyone can get.
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