“Promotional Interest” is earned on Eligible Deposits (excluding Promotional Interest) | Page 2 | Tangerine Bank | Discussion forum

Dean said
.
Yup ⬆

Scotiabank's stock (BNS) had been in the doldrums for quite some time. But I (and many others) held on, partially because we were Paid To (BNS Dividend
= ~6%).

And finally with BNS's stock recent turnaround (⬆ ~20%, and still climbing), we're all Smilin' Now.

Dean

  

It's probably a good idea to hold all the CDN banks in ETF's, and other things, like one ETF which converts all of the bank Divs and capital gains into Divs.
So everytime the banks come out with sneaky tricks, at least you are getting some back in bank Divs.
So they give you a shave in bonus percentage, to boost the Div, and of course pay for the CEO's divorce and yacht too.
It's just the way the system is, might as well play inside the system as it's designed.

InterestThis said

It's probably a good idea to hold all the CDN banks in ETF's . . .  

Not a bad idea ⬆, but . . .

I already own stock in four of the five CDN Big Banks, so basically I'm running my own private CDN Banks ETF ... and the MER = 0.00%.

Ca-Ching ❗

Dean

That is a good point about the bank stocks. But if they are in a more broad ETF the MER can be .11 or .22.
But yes directly owning them there is no mer or fees so you are ahead in that, and for some probably get the lower tax on Divs.
But on the other hand having the broader ETF has benefits too.

But regardless holding the bank shares is a good way to make sure that you benefit a bit from how they operate.
Some of us are horrible bank customers, having not paid a fee in living memory.