Comments on: High Interest Savings Accounts http://www.canadiancapitalist.com/high-interest-savings-accounts-3/ Helping you invest and prosper Sat, 11 Feb 2012 19:27:54 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: alex http://www.canadiancapitalist.com/high-interest-savings-accounts-3/#comment-199935 alex Thu, 10 Sep 2009 22:19:55 +0000 http://www.canadiancapitalist.com/2006/11/28/high-interest-savings-accounts-3#comment-199935 hi , is anybody know about the company call Griffin Habitat Investment they pay 8.0% interest ? the company is in Vancouver , I have no idea if the company is right to put money in it. hi , is anybody know about the company call Griffin Habitat Investment they pay 8.0% interest ? the company is in Vancouver , I have no idea if the company is right to put money in it.

]]> By: nancy (aka money coach) http://www.canadiancapitalist.com/high-interest-savings-accounts-3/#comment-109219 nancy (aka money coach) Sat, 02 Feb 2008 08:12:30 +0000 http://www.canadiancapitalist.com/2006/11/28/high-interest-savings-accounts-3#comment-109219 Citizens Bank of Canada should be in the mix. 4.0% today (Feb 1, 2008) for their ultimate savings account. Plus, profits go back to the community since it's owned by a credit union. Citizens Bank of Canada should be in the mix. 4.0% today (Feb 1, 2008) for their ultimate savings account. Plus, profits go back to the community since it’s owned by a credit union.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/high-interest-savings-accounts-3/#comment-48364 Canadian Capitalist Wed, 20 Jun 2007 14:23:54 +0000 http://www.canadiancapitalist.com/2006/11/28/high-interest-savings-accounts-3#comment-48364 Andrew: How do you open an overseas account in Britain? How do you fund the account? Not that I am planning to, but I'm curious. Andrew: How do you open an overseas account in Britain? How do you fund the account? Not that I am planning to, but I’m curious.

]]> By: Andrew http://www.canadiancapitalist.com/high-interest-savings-accounts-3/#comment-48237 Andrew Wed, 20 Jun 2007 07:34:19 +0000 http://www.canadiancapitalist.com/2006/11/28/high-interest-savings-accounts-3#comment-48237 I am pleased with my Ing accont but have recently opened up an overseas account in Britain paying 5.9% . Several are available and advertised in Weekly Telegraph or Weekly Express. They are tax free but have to be declared for Canadian tax purposes. Only risk is how our dollar changes re sterling but that could also be advantage if sterling rises more than Canadian dollar. I am pleased with my Ing accont but have recently opened up an overseas account in Britain paying 5.9% . Several are available and advertised in Weekly Telegraph or Weekly Express. They are tax free but have to be declared for Canadian tax purposes. Only risk is how our dollar changes re sterling but that could also be advantage if sterling rises more than Canadian dollar.

]]> By: Elizabeth http://www.canadiancapitalist.com/high-interest-savings-accounts-3/#comment-45675 Elizabeth Fri, 15 Jun 2007 15:19:45 +0000 http://www.canadiancapitalist.com/2006/11/28/high-interest-savings-accounts-3#comment-45675 Are we allowed to open an account in Achieva or Outlook Financial if we are not the resident of Manitoba??? Since I am the resident of B.C., I am so curious about it. Are we allowed to open an account in Achieva or Outlook Financial if we are not the resident of Manitoba??? Since I am the resident of B.C., I am so curious about it.

]]> By: J http://www.canadiancapitalist.com/high-interest-savings-accounts-3/#comment-43036 J Thu, 07 Jun 2007 21:25:51 +0000 http://www.canadiancapitalist.com/2006/11/28/high-interest-savings-accounts-3#comment-43036 Roc, If I am not mistaken, Achieva's 4.1% is already the annual percentage rate (APY). That is, they actually pay you 4.024% / 12 interest each month, compounding to an effective annual rate of 4.1%. This is the convention followed by almost all savings accounts regardless of how often they compound your savings (like ING direct compounds daily I believe). Achieva's website sys "Rates shown are calculated on a per annum basis ." It's a bit cryptic to me, but I think it confirms what I said. Roc,
If I am not mistaken, Achieva’s 4.1% is already the annual percentage rate (APY). That is, they actually pay you 4.024% / 12 interest each month, compounding to an effective annual rate of 4.1%.
This is the convention followed by almost all savings accounts regardless of how often they compound your savings (like ING direct compounds daily I believe).
Achieva’s website sys “Rates shown are calculated on a per annum basis .” It’s a bit cryptic to me, but I think it confirms what I said.

]]> By: Paul http://www.canadiancapitalist.com/high-interest-savings-accounts-3/#comment-41385 Paul Sat, 02 Jun 2007 04:38:48 +0000 http://www.canadiancapitalist.com/2006/11/28/high-interest-savings-accounts-3#comment-41385 there is a 10 day hold in Achieva (not 10 business days .. but just straight 10 days) .. However if you transfer from other account.. the money will show up at Achieva WAY faster than that... ..and will start earning interest right away... It's just that there will be a HOLD on the money transfered for 10 days.. (actually i could be wrong.. - FOR SURE it's 10 days hold on deposits through ATMs .. as to transfers in.. not sure 100% on that now. .- it's either same 10 days.. or faster) However, as i said, the money will start earning the interest the moment they are deposited to the account.. With ING it actually supposed to be like with anyone else.. couple of days for the money to show up there and start to make interest .. - it's just that they have 5 business days hold on those money (just can't touch them for that long.. but they are there) :) By the way.. someone mentioned Wal Mart banking in above posts? What's up with that .. Is Wal Mart planning to offer Banking as well now?! If so, approx. when .. do you know? there is a 10 day hold in Achieva (not 10 business days .. but just straight 10 days) ..

However if you transfer from other account.. the money will show up at Achieva WAY faster than that… ..and will start earning interest right away…

It’s just that there will be a HOLD on the money transfered for 10 days..

(actually i could be wrong.. – FOR SURE it’s 10 days hold on deposits through ATMs .. as to transfers in.. not sure 100% on that now. .- it’s either same 10 days.. or faster)

However, as i said, the money will start earning the interest the moment they are deposited to the account..

With ING it actually supposed to be like with anyone else.. couple of days for the money to show up there and start to make interest .. – it’s just that they have 5 business days hold on those money (just can’t touch them for that long.. but they are there) :)

By the way.. someone mentioned Wal Mart banking in above posts?

What’s up with that .. Is Wal Mart planning to offer Banking as well now?! If so, approx. when .. do you know?

]]> By: Daryl http://www.canadiancapitalist.com/high-interest-savings-accounts-3/#comment-37723 Daryl Sun, 20 May 2007 22:46:09 +0000 http://www.canadiancapitalist.com/2006/11/28/high-interest-savings-accounts-3#comment-37723 For those of you who use Achieva Finanical, how long is the hold on money transfers? i.e. if I transfer money from my chequing account to my Achieva Financial savings account, how many days before the money shows up in the Achieva account? ING was about 5 business days or so. For those of you who use Achieva Finanical, how long is the hold on money transfers? i.e. if I transfer money from my chequing account to my Achieva Financial savings account, how many days before the money shows up in the Achieva account? ING was about 5 business days or so.

]]> By: JohnB http://www.canadiancapitalist.com/high-interest-savings-accounts-3/#comment-37218 JohnB Sat, 19 May 2007 14:15:33 +0000 http://www.canadiancapitalist.com/2006/11/28/high-interest-savings-accounts-3#comment-37218 I am really interested in opening an account with PC Financial . They sound ok. I am also waiting for Wal Mart but I think Wal Mart will open with around 4.1%. I am really interested in opening an account with PC Financial . They sound ok. I am also waiting for Wal Mart but I think Wal Mart will open with around 4.1%.

]]> By: Derek http://www.canadiancapitalist.com/high-interest-savings-accounts-3/#comment-29818 Derek Wed, 18 Apr 2007 17:32:17 +0000 http://www.canadiancapitalist.com/2006/11/28/high-interest-savings-accounts-3#comment-29818 I just signed up for a Canadian Tire high interest account and got their standard 3.8% rate (no minimums, $20 deposited into my account just for signing up and a $10 Canadian Tire gift card -they seem to have the best deal around these days. I just signed up for a Canadian Tire high interest account and got their standard 3.8% rate (no minimums, $20 deposited into my account just for signing up and a $10 Canadian Tire gift card -they seem to have the best deal around these days.

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