Discount broker tfsa
This post has been updated as of Jan. Feel free to have it bookmarked. You can park cash in a High Interest Savings Account HISA in a discount brokerage account by buying it just like you would purchase a mutual fund. These HISAs typically pay much higher interest rate than money market funds and are ideal for the cash balance in your Registered Retirement Savings Plan RRSPTax-Free Savings Account TFSA and investment accounts. Like online savings accounts like TangerineInvestment HISAs are eligible for Canada Deposit Insurance Corporation CDIC insurance. First a note of caution: If the client had instead parked her cash in the Bank of Nova Scotia HISA, there would have been no early redemption penalty. The savings accounts offered through discount brokers have one huge advantage over high interest savings accounts offered by online banks. The cash parked in HISAs are counted towards the cash balance available in an account. Therefore, these funds are readily available for your trades and your broker may even automatically sell all or some of your HISA to fund your trade. In contrast, parking cash in an online savings account is not practical for registered accounts like RRSPs, RRIFs and TFSAs and it may take business days to transfer money from or to an online bank to or from taxable brokerage accounts. These savings accounts are also a much better alternative to traditional money market accounts because they pay a much higher interest rate. For example, as of this writing, the TD Tfsa Money Market Fund sports an yield of 0. Note that US dollar HISAs are not eligible for CDIC insurance. Please do your due diligence and check with your broker first before proceeding. TDB, TDB, TDB and TDB USD have no fees. Other HISAs not available since TDB is also not available. RBF, RBF, RBF, RBF and RBF USD have no fees. Other HISAs not available. Only DYN, DYN, DYN and DYN are no-fee. No fee on ATL BTB is not available. No fee on AAT and AAT USD. Other savings accounts are not available for purchase as of Oct. Can be redeemed anytime without penalty. See this post for more information. No fee on NBC B2B Trust High Interest Investment Account. Fund code is BTB Not available at TD Direct Investing. Updated with new high-interest savings offering at TD Direct Investing. Updated with rates and high-interest savings accounts availability at discount brokers. Also check out the HISA page at Finiki the Canadian Financial Wiki. Minor edits and formatting. Updated BMO HISA interest rate. Updated BTB availability at CIBC InvestorsEdge. Added Home Trust ISA. Tweets that mention High Interest Savings Accounts at Discount Brokers Canadian Capitalist -- Topsy. CC, since your migration how does one conduct a search of your past posts? I was looking for this post http: Had to manually go back through the archives to find it. Site Search and Archives are still to do. I will get it done in the near future. Meanwhile, here are two ways to search:. I am about to move my TD money market fund to either the Manulife Bank Investment Savings Account MIP 0. Would they have different MER that affect the actual yield? Ask if there are any early redemption fees. Weed out the accounts that charge you fees because as Michael pointed out, a single fee might wipe out your interest and even cost you money. Please check and make sure there are no fees before putting money in these accounts. These accounts pay a trailer to the dealer directly, not out of the interest you are paid. These are tough times for fixed income investors. The Manulife fund does seem to pay a trailer to the dealer, even if that dealer is a discount broker. See slide number 5 in this presentation: Thanks for the reply. So assuming I can confirm that there will be no fees of any sort, then the pure difference is the posted interested rate difference? For example BMO Investorline: I am going to confirm with BMO Investorline if these funds get any special treatment which I doubt. Tfsa is Joseph, who mentioned these funds yesterday tfsa on this mention CC has posted about them today. That makes them liquid they typically settle next day. This can take days and so these accounts are not as liquid. So money market funds can be higher risk than saving account mutual funds. Especially in these very discount and crisis based times. I often buy and sell these next day. I trade daily and just take any remaining cash at end of day and buy these funds. But then again, it will take a few days to transfer cash between investment and savings account s. The cash from the sale of the SAMF will be in the account before the cash for the purchase of the security is required. Sunny I trade these electronically with my online discount broker takes a minute and no need to call in to buy or cash out. I find it so hilarious that we call 0. And we pay taxes on that whopping 0. Anybody know the annual inflation rate? The brokerages, by the way, make a lot of money on the un-invested cash. More than the commissions. Just like CC said previously, I can see the MIP, ATL etc but not sure if I can actually buy them online, and the phone reps have told me twice that they are phone orders only for TD Waterhouse. Alex Yes I agree they certainly are not high interest and since inflation is higher, I am discount money by investing in these. But this takes too much time and so is not useful to me. Sunny I am with BMO I buy these just like any other mutual fund I called TD Waterhouse Discount Broker and they confirmed you can buy:. Note that I have previously bought and sold MIP CAD and MIP US through TD Waterhouse online brokerage without having to phone TDW. Sunny not sure why the rep is saying you need to call in. Both Altamira and Questrade do not charge any early redemption fee. In addition, you may purchase or redeem any of our funds at no cost whatsoever. There are no management fees in this account. Interest rates are currently at all-time lows. But this low-rate environment may not last very long. Even when interest rates were higher, brokerages paid close to nothing on cash balances. Investors could earn some extra money on parked cash with these high-interest accounts instead of keeping it as cash. I was also told broker that these accounts can only be purchased via phone but when I mentioned that they are available as mutual funds, the CSRs were surprised. Looks like others have purchased through WebBroker, so it appears that TDW CSRs are just misinformed about these accounts. Anyway, during my research of Ally it appeared to me that there is some cause for concern regarding the security of investing with Ally, since Resmor Trust and Ally are owned by GMAC Inc. Readers should be aware that GMAC is using US government bail-out money from various sources to offer the best rates around. So what happens when the US Treasury decides to call the loans, or toss in the towel? What happens when all those new Ally customers race to cash-out their deposits? Does the CDIC pay out directly to the trust company so they can cover all deposit withdrawals? How long does it take? How long is a depositor left without their money? March 10, http: Reported first profitable quarter since fourth quarter Announces intention to rebrand GMAC Inc. I opened TFSA accounts with Ally early this year. So far, I have no complaints with opening an account, transferring money or interest deposits. Can we hold off on the discussion until then? I found this site after commenting: You can link an account for next day access with zero charges! Do you have a savings account AND a checking account? If so, which account do you have more money in? There is no fee to purchase the fund; however, an early 90 day redemption fee may apply. I really would love to get a direct answer from them. I guess this is a good option if you want to reach the k threshold with TDW and you are just parking your money waiting to buy. What are the benefits of a home equity loan? Just a quick update. Manulife MIP is now showing 0. Altamira and Dundee are also now at 0. Home Mortgage Refinancing The Secret of Home Mortgage Refinancing Credit and Loan. For TD Waterhouse customers, I just set up with them, including a savings and chequing account. I was able to do an online transfer from my free cash balance in the TDW trading account over to my TD chequing account. The amount showed up immediately in the chequing account, and I assume the same would be true for the savings account. For moving money back out, the savings account has only 1 free debit per month. However, it allows free transfers to other TD savings and chequing accounts in your name, so I can transfer from savings to chequing, and then from chequing into the TDW account. The only time I deposited money was via a cheque when opening the account. When looking at savings account, all I look for is CDIC coverage. It is impossible for us retail investors to analyze the financial stability of the banks just to park our money. A new online savings bank Canadian Capitalist. A new online savings bank MoneySense. TSX Correction, Annuity Puzzle and more
Canadian Capitalist. I found them at TD Waterhouse. Maybe you have to try calling RBC DI? Parking Cash in Your Portfolio. I can get a quote for the other funds listed here but not this one. The last time I checked, TDW told me that IBN had to purchased by phoning in a buy order. I did not bother because I did not find the interest differential to be worth my time. Several other accounts on your list also have F series variants so this one kind of sticks out like a sore thumb. I do see it listed on TDW, has anyone been able to purchase it? It does appear that RBF is a F-series fund. I went through the screen until the final placement of the order and it appears TDW will sell it to me. I think you mean RBF I tried to purchase this and TDW accepted my order. I was just surprised it allowed the order entry in the first place. Thanks for your comment! Just now I phoned TDW to place an order for IBN for my RSP account- after the agent checked, was told that IBN is NOT eligible for RSP accounts, but okay for non-registered or TFSA accounts. Previously, I had bought and still hold ATL, so I wondered what was going on. I sent them this message:. However, Discount no longer seem to be able to buy or sell units of this fund. What can I do? Consistent with how RBC products are offered at the RBC branch level, effective April 18th, all retail brokerage clients at RBC including our RBC Direct Investing clients will now only be offered our own competitive RBC products and solutions within High Interest Savings Accounts HISAs and Cashable GICs. Automatic investment plans that were set up for non-RBC HISAs prior to April 18, will also remain in place. Additional purchases of non-RBC HISAs are no longer available but distributions will continue to be reinvested. Any clients who wish to liquidate any non-RBC HISA holdings can do so by contacting one of our RBC Direct Investing representatives at For more information on HISAs offered through Direct Investing please visit. Thanks for checking this. Thanks for checking with RBC DI. At least the interest rate is comparable. Yes, I found that odd too, although he was quite sure that RSP was not allowed and I did confirm again that non-registered accounts and TFSA accounts were okay. Sunny, the IBN product does not allow for RRSP inclusion at this time, no matter who your broker is. ICICI has said they are working on making the product RRSP compliant. With the recently added TD Investment savings account, I have been able to buy the TDBandthrough my TDW WebBroker account, but not the TDB is the F series equivalentwhich is also listed on their own site. Has anyone had any success with that particular one? TD Investment Savings Account TDPMC TDB TD Investment Savings Account TDPMC F Series TDB Just called TDW to try to purchase IBN ICICI bank at 1. In the fine print for series A which is what IBN is: Does it mean that the 1. One reader tried to but the order was rejected. In addition, just called TDW and was told that RBF no longer exists- if one pulls up the quote on RBF, the last date of the price was Juneso I was told that RBF is now replaced Discount is that correct? Altamira Cash Performer NBC ING Direct Lags the Competition Canadian Capitalist. They seem to want to try to keep money sitting around in the account earning nothing. I take it back. I guess I was confused. CC you may want to update this post again as disappointingly TD Waterhouse no longer allows brokerage customers to park their cash in competing ISA funds. The only option now is to buy the TD ISA. At least you would think they could offer a better rate if it is offered in-house? Are other institutions doing the same? I agree that this post needs to be updated. I just did a test buy on ATL and I get the error that only a sell order is allowed for the fund. The only options available are TDB, TDB and TDB The TD funds also pay 1. I still think places like Achieva Financial area better bet. They also offer much better rates on GICs. I guess online banks such as Achieva Financial may make sense if you have cash in a taxable investment account. One can easily move money to or from the taxable account without tax implications. However, within registered accounts such as RRSPs, it is simply not practical to park cash in an online HISA. Thanks for your comment. So you can keep the cash in the HISA, making nominal interest, until up to 2 days after the buy order executes if it does. It would be nice to get the extra 0. TDB or get the equivalent rate. It is not like I am paying for advice on the discount brokerage side to justify the lower discount version e. I agree with you. TD and RBC have cut out 3rd party ISAs from their offering. Granted their in-house ISAs pay the same rate as the competition but the double dipping leaves one with a bitter taste. Best of Blogs - a new look. Thanks for researching HISAs at BMO. One wonders why BMO even bothers offering these accounts. So they can say, honestly, if someone asks, do you offer HISA no load mutual funds. I tried selling some of my 25, of DYN, but the sale failed with the error message that I have to sell it all or none. Details are at http: They can be sold anytime. I just sold some MIP today from my Itrade TFSA account in preparation for the new TFSA year. I last bought on some MIP on October 1st, So I held off until today and there was no early redemption fee. BMO InvestorLine has added new BMO HISA AAT for CAD; AAT for USD options. Thanks to John who tipped me off to this new improvement. Sleepy portfolio 2Q update MoneySense. I have my account with Interactive Broker. Also, note that the table minimums are set by the fund but your brokerage minimums may be different. I asked Scotia iTrade if they can add DYN and my understanding was that it was done. I tested tfsa again, right now and yes, DYN is available. Your screen should look like this, http: Thanks Avrex for checking up on this. It turns out both DYN and DYN have no account minimums but Scotia iTrade may impose some requirements. I am interested in the BTB account but I want to know what is the minimum period of investing and do I have to pay any charge if i take money out within 30 days. I recently learned the hard way that Scotia charges 90 day early redemption fee on all mutual funds, including ISA. This is Scotia-own fee and it is on top of any mutual fund early redemption fee. Scotia Money Market Funds, Dynamic Money Market Funds, and all Scotia Mutual Funds. I had an ISA from another company. Does anyone know if Scotia ISA are included in the exception? It appears that Scotia does not allow it and you have to wait for the next day for the ISA sale to tfsa. Does it behave differently with the Scotia ISA? Ask RBC the difference between RBF, RBF, RBF, RBF I have two quick questions for virtual-broker users. Which above fund did you choose to hold, and how about the holding penalty? Just to update the BMO InvestorLine info as of September The following were available:. If you want to buy a third-party Investment Savings Account ISAs at BMO InvestorLIne, you have to talk to a live person. Once the third party ISAs are in your account, you can redeem them online. Funny how rates on mortgages and LOCs are going up but the rates WE get paid are going down. I guess the answer is: I did not click proceed because of my concern about this commission fee. Are you sure that there is no commission charge for itrade customers with DYN? It looks like iTrade is having a technical glitch. Call iTrade and ask them to redeem this fund for you without any charge. Details in this Canadian Money Forum thread:. Thanks for the information. How to Painlessly Transfer your Account from one Broker to Another Canadian Capitalist. Heads up that I tried BTB in my CIBC Investors Edge account and it could not find the fund. No problems with ATL though. High Interest Investment Accounts Mutual Funds! The article mentioned that some brokers automatically sell your HISA to cover any stock purchases you make. Currently I broker to sell, wait the 1 day settlement, and then make a purchase. At TDDI, the current holdings in TDB are considered as part of buying power. You can make a stock purchase and cover part or all of it with the TDB balance. What about Scotia DYN Series E with a minimum K investment. I can seem to pull it up with itrade. Does anyone know if the underlying security on these investment accounts is a portfolio of loans of some sort. The B2B acronym is giving me pause. More generally and leaving the CDC coverage issue aside is there any credit or performance risk here? It is virtually impossible for retail clients buying GICs or even parking cash in their savings and chequing accounts to make a judgement on the credit quality of the issuer. That is why we have deposit insurance. I could not find iteven after though searching
. Does anyone have broker thoughts or experience with the Purpose High Interest Savings ETF TSX: Appears to be 1. How Are Investors Protected? For investors seeking High Interest on their savings, the maximum possible return would be between 1. Manulife Bank offers 1. The money can be withdrawn any time. This is far better way of investing in the HISA. Compare that to any Ontario account. Check out Accelerate Financial. CDIC is not without limits. Anyone concerned with stability of Credit Unions in Canada should do their own research. Eventually, on the phone with tfsa they said the current rage is 1. The rates are listed here:. On these Discount Brokerage ONLY vehicles note that the Current rates are 1. NOW for all those that like higher Int. Rates with NO service fees of any kind look at PEOPLES TRUST peoplestrust. How to Buy Units in a High Interest Savings Account Fund at RBC Direct Investing Financial Crooks. I would like more information on where the risk is for these accounts. In the event that a Canadian bank took a massive loss, is there exposure somehow because of where the funds sit or are used by the bank. It is good broker be paranoid. It is always worthwhile asking where the extra risk is when looking at higher returns. These accounts are CDIC insured, therefore in the scenario that the issuing bank goes insolvent, CDIC should be making us whole. I also have a question regarding risk. If I am using a brokerage such as Questrade that is not a member of the CDIC but is a member of the IIROC and they should get into trouble would the cash in the HISA margin, tfsa, rrsp still be insured? Thanks for your advice. On the topic of paranoia I have a further concern that you can hopefully clarify. If I am using broker brokerage account such as Questrade who is not a member of the CDIC but is a member of the IIROC and they end up in financial trouble will the cash in a hisa fund in either a tfsa, rrsp, or margin account be safe? This is for cash balances with the brokerage firm itself. The two are separate. The rates are outdated but HOM still pays the most. What is wrong with dealing with Peoples broker and Hubert Sunova Their rates for HISA daily,us daily,and TFSA are by far higher than anyone else. BUT WATCH AND PAY ATTENTION. THEY HAVE DROPPED THEIR RATES A COUPLE OF TIMES THIS YEAR Should You Replace Bonds With Cash? Equitable Bank HISA EQB currently pays 1. I tried to buy the F-class version EQB which pays 1. Home Bookshelf In the News Archives Contact Us Consulting Forum. High Interest Savings Accounts at Discount Brokers January 27, at List of Discount Broker High Interest Savings Accounts interest rates as of Jan. Account Name Fund Code s Initial Minimum Interest Rate Notes B2B Bank HIIA BTB No Minimum 1. Interest Rate History Oct. Note though that the initial minimum investment may be quite different at your broker. Interest is accrued daily and paid monthly. Typically, these accounts are sold without any loads or minimum holding periods or any fees of any kind but as noted earlier, always check first before buying. That way all your savings will be fully covered by Canada Deposit Insurance Corporation. All these HISAs are also available as F-series funds that are only available through financial advisors. Even if you are able to pull up a quote and place an order for a F-Series fund such as RBF in a discount brokerage account it will be rejected later. The multiple savings accounts from TD Bank and Royal Bank are equivalent. Most brokers offer at least their in-house HISAs but your mileage may vary. Discount interest rate published in the table above already takes into account the trailer fees paid to the dealer. Updated with HISA availability at Scotia iTrade and BMO InvestorLine. This article has comments Pingback: GSP May 18, at Sorry for the off topic comment folks. Canadian Capitalist May 18, at Meanwhile, here are two ways to search: Sunny May 18, at Canadian Couch Potato May 18, at Seems like Renaissance had just updated their rate to 0. Sorry, our posts crossed in the ether. Thanks for answering these discount. GSP May 18, at 1: Thanks for the quick reply CC. That Google site specific search could come in handy. To everyone else out there, sorry for the off topic comments. G May 18, at 3: Sunny May 18, at 3: Joseph May 18, at 4: Hi, This is Joseph, who mentioned these funds yesterday and on this mention CC has posted about them today. Joesph May 18, at 4: Are you gonna be fighting Anderson Silva? Alex May 18, at 5: Sort of like driving across town to save 1c on gas. Oh, these funny canucks! Sunny May 18, at 5: Joseph May 18, at 6: Sunny I am with BMO I buy these just like any other mutual fund I called TD Waterhouse Discount Broker and they confirmed you can buy: Joe Doe March 26, at 1: Michael May 19, at 9: Canadian Capitalist May 19, at Thanks again for your comment. TD Waterhouse does not carry IBN either. Canadian Capitalist May 19, at 5: G May 22, at Received response from BMO Investorline: Geoff May 25, at Sunny May 26, at 5: NorthernRaven July 29, at Canadian Capitalist July 30, at G November 16, at 1: Blitzkrieg November 29, at 3: Canadian Capitalist November 29, at 3: Michael November 29, at Canadian Capitalist November 29, at BadCaleb November 29, at Canadian Capitalist November 30, at Michael November 30, at Sunny November 30, at 3: Blitzkrieg November 30, at 3: I sent them this message: For more information on HISAs offered through Direct Investing please visit; http: Canadian Capitalist November 30, at 4: Sunny November 30, at 5: If anyone else had been able to place IBN thru TDW in a RSP account, please let us know. Sunny January 8, at 5: Sunny January 9, at 8: I looked up the terms of the IBN and the document is here http: No commissions paid Fund Code: Canadian Capitalist January 9, at So an investor in IBN will receive 1. Sunny January 10, at 3: Canadian Capitalist January 16, at 2: IBN down to 1. Sunny March 2, at 9: CJ August 16, at 1: John T September 27, at 9: John T September 29, at 7: MB September 29, at 9: Canadian Capitalist October 1, at 4: Bob October 30, at Canadian Capitalist October 30, at 1: Peter October 30, at Canadian Capitalist October 31, at MB October 31, at 4: Canadian Capitalist October 31, at 9: Bet Crooks November 5, at 6: Canadian Capitalist November 6, at Bet Crooks November 6, at Bet Crooks December 15, at John T December 31, at Bet Crooks April 11, at 2: Stephen July 11, at 9: Avrex Money August 15, at 9: This is an excellent resource. Ok, now everyone bookmark this webpage. Central August 29, at JC August 29, at 1: Canadian Capitalist August 29, at 3: Central September 10, at 9: Avrex Money August 29, at 9: CC JC I made a purchase of DYN in my Scotia iTrade account, on Aug Canadian Capitalist August 29, at 9: Milan September 5, at 4: Brian September 23, at 2: Canadian Capitalist September 24, at Stephen September 24, at Bet Crooks September 28, at 8: Canadian Capitalist October 1, at 8: Thanks for keeping us posted Bet! Michael Takeda November 22, at 7: The following were available: Bet Crooks November 15, at 5: BMO InvestorLine has dropped their rates: AAT is now 1. Central December 5, at Canadian Capitalist December 5, at Details in this Canadian Money Forum thread: Milllion Dollar Journey March 7, at Mike March 14, at What brokers offer this service? Ram Balakrishnan March 15, at 6: Joe March 21, at Brian April 4, at Jeni April 15, at 7: Kevin McGivern April 16, at 2: Ram Balakrishnan April 17, at 8: Kevin May 29, at 1: Atul Shoppfinance June 30, at 4: First of all congratulations for such an informative blog! Dylan Gordon October 22, at 3: Ron November 11, at 1: I ditched my bank, never to tfsa. David McKenna December 4, at 6: The rates are listed here: Stephane December 15, at 4: Berni F December 24, at 2: Bet Crooks January 26, at 3: Ram Balakrishnan January 27, at 4: Central January 27, at 1: Ram Balakrishnan February 20, at 9: Gerry March 3, at 5: Andrew Johns May 1, at Interested April 7, at 3: Wheres Waldo April 9, at 1: BERNI FUCHS June 13, at Angie June 4, at Wheres Waldo June 12, at 5: Recommended Posts High Interest Savings Accounts at Discount Brokers January 27, broker. A Foolproof Method to Convert Canadian Dollars into US Dollars May 25, comments. July 29, comments. The high cost of peace of mind November 3, comments. Beware of tax shelter donation arrangements August 19, comments. Renaissance High Interest Savings. Hollis Investment Savings Account. Bank of Nova Scotia ISA.
Thanks, Liz More Modesto Inquiry June 12, 2013 - I own a home in Modesto near Doctors Hospital.
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Making this hasty addition more obvious is that hacking into game reveals that an entire fight sequence between the Fox character and the main villain of the game, General Scales had been programmed, complete with dialogue already recorded.
There she basically behaved the same, and got through just fine.