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Email this11:52 am
Judging by the previous two years, this is probably a bait and switch rate.
2:12 pm
May 15, 2007
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January 11, 2009: 3.00%
April 22, 2009: 1.50%
January 1, 2010: 3.00%
April 28, 2010: 2.00%
Bait and switch is supposed to be illegal.
3:05 pm
"Bait and switch is supposed to be illegal."
I agree 100%.
I got sucked in by ING last year.
This year I withdrew the money the last week of December 2010 and put it, plus 2011's contribution into an account with People's Trust at 3%.
Hopefully they don't pull the same stunt. Their rates seem to have been pretty steady in the past.
3:23 pm
I'm doing the same except trying out Canadian Direct Financial's 3%. Anyone know what's their history re bait and switch?
5:31 pm
I've got regular high interest savings accounts with both Can Direct and Peoples Trust and they have both been very consistent with their rates. Since the middle of 2009 they have not changed from 2% and 2.1%
Hopefully the same will prove true with the TFSA
5:36 pm
Should mention. I moved money from regular savings to TFSA and the only reason I went with Peoples Trust over Canadian Direct was that with Peoples Trust I could do the whole thing online whereas with Canadian Direct I would have had to mail forms to them. Other than that it was six of one half dozen of the other. Came down to me being too lazy to walk over to the post office. I've dealt with both companies and have been satisfied with both of them so far.
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