96 Comments

  1. […] Mark is looking for some ideas on what to do with the money.  To start, lets look at his goal.  In 5 years, he plans to purchase a property which means his $5,000 could go towards a portion of the down payment.  With this in mind, he could either continue maxing out his RRSP (1-2k room) and put the remainder in a 5 year GIC.  Even with today’s low interest rate environment, if you look hard enough, you can find rates in the mid 3% range.  It’s not much after taxes, but better than current high interest rate savings accounts. […]

  2. […] I’m all about the free chequing accounts.  Whether it’s completely free, like what PC Financial offers, or free after keeping a minimum balance.  However, I was doing some surfing on available chequing […]

  3. […] direct is an online bank (covered by CDIC)  similar to the PC Financial high interest savings account.  That is, you do all your basic banking elsewhere, but you can transfer money back to forth to […]

  4. […] to purchase CSBs, I don’t see any real advantage of this product over a conventional GIC or high interest rate savings account.  In fact, a high interest savings account has the same/or higher interest (currently), but with […]

  5. Alastair on August 26, 2009 at 12:59 pm

    Thanks for the info. $25 should be headed your way!

  6. Steve on September 21, 2009 at 3:30 pm

    Why are the interest rates being offered getting slashed so much? I was just logged into ING and it’s now 1.05%. A year ago it was over 3%! A year ago with BMO I was getting 0.75% on my savings and now it’s 0.25%. And the GIC rates have plunged too. It’s a joke.

    I know the economy hasn’t been doing well but while the all banks have lowered the interest rates on savings accounts, they sure haven’t lowered the amount of fees that they charge users*. You would think with today’s economy, that encouraging people to save would be good for the banks.

    – Steve

    * I am well aware that some of the above banks have no fee accounts.

  7. […] savings accounts are held with PC Financial and ING Direct. We usually hold a fair bit of cash in case “something” comes up. The […]

  8. […] is even more surprising is that President’s Choice Financial is a division of CIBC. I bank with PC Financial and regularly use CIBC machines at no cost. When I […]

  9. Financial Pet Peeves | Million Dollar Journey on December 3, 2009 at 8:00 am

    […] you pay bank fees, ask your bank how you can get them removed. If they won’t, there is always PC Financial. I’ve been banking with them for 10 years and I’ve never paid a bank fee, my cheques are free […]

  10. […] experience, the bank that comes to mind that offers essential chequing account services for free is PC Financial.  They offer unlimited transactions and cheques for free with no minimum balance.  The […]

  11. BCGray on December 31, 2009 at 6:26 pm

    I would check out Canadian Tire Financial Services rates are much higher than either ING or PC, and it is a Canadian Corporation

  12. ITGUY on March 7, 2010 at 7:05 pm

    “I would check out Canadian Tire Financial Services rates are much higher than either ING or PC, and it is a Canadian Corporation”

    That may be true, though they’re moving everything they can to India.
    Just ask the poor saps who had train their Indian replacements.

  13. Robyn on February 23, 2011 at 2:38 am

    You get taxed on money that sits in your bank account? Im new at this (and totally confused) and always lived paycheque to paycheque so i have never had to worry before but I am coming into some money in the next few weeks and I am trying to figure out the best way to save and also make some money on it, yet I still need some access to it as monthly withdrawls for rent will be needed. I currently have a scotia money master saving account but I think its one of the lowest interest paying….. help!!!!

    Robyn

  14. UltimateSmartMoney on October 10, 2011 at 7:48 pm

    I have been very satisfied with ING account. I highly recommend it just like this post states. It really beats the bank rates.

  15. Argos on January 19, 2012 at 6:27 am

    I opened a PCF savings account alongside my CIBC account. I think its important to have a brick and mortar bank though, any thought?

  16. Melanie on October 5, 2012 at 5:13 pm

    Can someone time stamp this blog? The rates etc become irrelevant if this content is out of date. I don’t see any indicator here.
    Thanks

  17. FrugalTrader on October 5, 2012 at 9:34 pm

    @Melanie, the rates are time stamped “Rates updated as of July 28, 2009
    , but yes you are right, they are way out of date.

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