In these uncertain times which institution would you choose for TFSA | Tax Free Savings Accounts | Discussion forum

I would wait a little bit until the dust settles on the newly changing interest rates to see whose rate stabilizes where. You have waited this long, so give it at least another week or 2. As you know, once you commit for this year you are stuck for at least the balance of the year unless you want to go through the gyrations (paperwork) of changing FIs in the middle of the year. One other option is to use numerous FIs. You are allowed more than one TFSA as long as you stay within the limits.

They are all adequately insured in the sense that the amount you have to deposit would be fully covered by the insurance offered by the FI in question. Other than that, it depends on whether you consider CDIC and Manitoba Deposit Insurance to be reliable. Of these, only AlternaBank is covered by CDIC.

I would go with AlternaBank. If you want to split it up, then I would put the other half with Achieva.

My reasons aren't very strong. I already deal with Alterna, so it would be easier, and they are a good outfit to work with for other things. The others are all similar in my view, but I think Achieva has no transfer out fee. I'm not sure about that, so you should check.

Time is of the essence with falling rates, so, if you already have an account with one or more of these, then that should be your priority.
Even if you choose to postpone buying a GIC, hoping for better rates, you can still benefit from a savings account which is tax-free.