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www.getzenbanx.ca ??
July 26, 2015
2:55 pm
Loonie
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When I typed in the URL for highinterestsavings.ca just now, I got some paid ads in the search results, as one might expect. The first one was for www. getzenbanx. ca , with headline of 1.5% interest (I have deliberately broken up the address so that readers will not get an automatic link, for your protection, as I really don't know what it is.)

This is not a remarkable rate, but I did wonder what this institution might be. I find the name almost comical. I guess it's for those who want to "getz" some money.

I didn't click on it, as I wasn't sure if it was a good idea. Not listed with CDIC, and nothing much if you just google it. Perhaps it's just one of those links that leads you to another site, such as a rate broker, but why hide your name?

I'm curious if anyone knows anything about this.

July 26, 2015
3:07 pm
Norman1
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It's ZenBanx Canada. They are the ones with that multi-currency account.

Looks like they have a special offer on right now in which one can buy US$250 for CAD$250.

There was a discussion about them here last month at General financial discussion | ZenBanx.

July 26, 2015
4:41 pm
Loonie
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Thanks, Norman!

US$ at par? I'll have to look into that!

July 26, 2015
4:55 pm
Loonie
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T&C:
" Customer must have a ZenBanx account in good standing and have started their application by August 3.
Customer can exchange up to $250 Canadian into $250 U.S. in a single or one time only transaction on August 3.
The transfer will take place at our posted (not promotional) exchange rate and not the 1:1 exchange rate. A credit to reflect the difference between the prevailing exchange rate at the time of the exchange and the 1 CAD = 1 USD will be posted by no more than 3 to 5 business days after August 3, 2015.
Should your account set-up be delayed for circumstances beyond your control, ZenBanx will still honour this promotion until August 17."

Too bad the maximum is $250.

July 27, 2015
6:35 pm
Norman1
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Loonie said
...
Too bad the maximum is $250.

I agree. But, that is understandable. Otherwise, someone could buy US$20,000 for CAD$20,000 and flip the US dollars back to C$ for a profit of around $4,800. sf-cool

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