Comments on: This and That http://www.canadiancapitalist.com/this-and-that-39/ Helping you invest and prosper Sat, 11 Feb 2012 12:40:17 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Dave http://www.canadiancapitalist.com/this-and-that-39/#comment-25640 Dave Mon, 26 Mar 2007 16:55:53 +0000 http://www.canadiancapitalist.com/2007/03/22/this-and-that-39#comment-25640 Phil, the wash trades thing has to do with RRSP accounts. The cash portion of an RRSP account must be CAD dollars. Phil, the wash trades thing has to do with RRSP accounts. The cash portion of an RRSP account must be CAD dollars.

]]> By: Phil S http://www.canadiancapitalist.com/this-and-that-39/#comment-25529 Phil S Sun, 25 Mar 2007 22:34:52 +0000 http://www.canadiancapitalist.com/2007/03/22/this-and-that-39#comment-25529 I don't know about the wash trades issue since I have accounts on both a $USD only account and $CDN accounts. But that E*Trade deal of 100 free trades & $9.99 thereafter sounds REALLY REALLY good to me. I just can't muster up the $50K to meet the qualifying minimum unless I collapse my current trading account. Hmm... Is it worth the trouble? It may be. I haven't decided yet. I don’t know about the wash trades issue since I have accounts on both a $USD only account and $CDN accounts. But that E*Trade deal of 100 free trades & $9.99 thereafter sounds REALLY REALLY good to me. I just can’t muster up the $50K to meet the qualifying minimum unless I collapse my current trading account. Hmm… Is it worth the trouble? It may be. I haven’t decided yet.

]]> By: Phil S http://www.canadiancapitalist.com/this-and-that-39/#comment-25528 Phil S Sun, 25 Mar 2007 22:30:32 +0000 http://www.canadiancapitalist.com/2007/03/22/this-and-that-39#comment-25528 When I was recently on vacation in the Cayman Islands, I used an ATM down there to take out cash in US dollars. Currency implications aside, I was charged $3 on the transaction (showed up on my BMO statement), which seemed reasonable to me. It's not like I do a lot of banking in the Cayman Islands on a regular basis... Although I certainly wish I did! Haha... When I was recently on vacation in the Cayman Islands, I used an ATM down there to take out cash in US dollars. Currency implications aside, I was charged $3 on the transaction (showed up on my BMO statement), which seemed reasonable to me. It’s not like I do a lot of banking in the Cayman Islands on a regular basis… Although I certainly wish I did! Haha…

]]> By: John http://www.canadiancapitalist.com/this-and-that-39/#comment-25498 John Sun, 25 Mar 2007 16:14:57 +0000 http://www.canadiancapitalist.com/2007/03/22/this-and-that-39#comment-25498 TD are hiking the cost of using an ATM outside Canada. "For foreign currency withdrawals performed at ABMs outside of Canada, the exchange rate includes an amount equal to 2.5% of the converted amount. Applicable transaction fees also apply." That's up from 1.0%, on top of a transaction fee which was $5 on my last outside Canada transaction. If Ben Franklin were around today he would surely be writing "In this world nothing can be said to be certain, except death, taxes and bank fees." TD are hiking the cost of using an ATM outside Canada. “For foreign currency withdrawals performed at ABMs outside of Canada, the exchange rate includes an amount equal to 2.5% of the converted amount. Applicable transaction fees also apply.” That’s up from 1.0%, on top of a transaction fee which was $5 on my last outside Canada transaction. If Ben Franklin were around today he would surely be writing “In this world nothing can be said to be certain, except death, taxes and bank fees.”

]]> By: Steve Heath http://www.canadiancapitalist.com/this-and-that-39/#comment-25401 Steve Heath Sat, 24 Mar 2007 13:35:15 +0000 http://www.canadiancapitalist.com/2007/03/22/this-and-that-39#comment-25401 CC: That was my second favorite, and the only reason I felt that was more understandable than Mr. "Don't mail me, call me" was because the bank actually does that, and with much smaller sums of money. For a while I was holding some money in trust, in an account specifically named when opened, "TRUST ACCOUNT", which because of the nature of the requirements (lots and lots of small payouts) wasn't worth making a regular savings account. And then because of something unforseen it grew to about 100,000 for a while, but the trust rules were that I couldn't move anything temporarily to a high interest account, the money must remain in the trust account until properly redeemed. Every month I had a call from someone at the bank "we notice you have a large amount of money sitting idle in this account and would like to let you know about other products we offer that could get you more interest"... At least a dozen times in the next year and a half. Always the way, when you DON'T want the service, you get it like crazy :) CC: That was my second favorite, and the only reason I felt that was more understandable than Mr. “Don’t mail me, call me” was because the bank actually does that, and with much smaller sums of money.

For a while I was holding some money in trust, in an account specifically named when opened, “TRUST ACCOUNT”, which because of the nature of the requirements (lots and lots of small payouts) wasn’t worth making a regular savings account. And then because of something unforseen it grew to about 100,000 for a while, but the trust rules were that I couldn’t move anything temporarily to a high interest account, the money must remain in the trust account until properly redeemed. Every month I had a call from someone at the bank “we notice you have a large amount of money sitting idle in this account and would like to let you know about other products we offer that could get you more interest”… At least a dozen times in the next year and a half. Always the way, when you DON’T want the service, you get it like crazy :)

]]> By: Philip http://www.canadiancapitalist.com/this-and-that-39/#comment-25353 Philip Fri, 23 Mar 2007 20:28:53 +0000 http://www.canadiancapitalist.com/2007/03/22/this-and-that-39#comment-25353 It is the consumer's responsibility to manage their own money. People are so quick to blame someone else for their own idiocy. It is the consumer’s responsibility to manage their own money. People are so quick to blame someone else for their own idiocy.

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/this-and-that-39/#comment-25309 Canadian Capitalist Fri, 23 Mar 2007 14:43:12 +0000 http://www.canadiancapitalist.com/2007/03/22/this-and-that-39#comment-25309 Steve: My favourite is the guy who has $220K in cash and put it in a no-interest account and wants the bank to contact him with high-interest alternatives! Its his money and if he doesn't care about it, why would his bank? Steve: My favourite is the guy who has $220K in cash and put it in a no-interest account and wants the bank to contact him with high-interest alternatives! Its his money and if he doesn’t care about it, why would his bank?

]]> By: Steve Heath http://www.canadiancapitalist.com/this-and-that-39/#comment-25305 Steve Heath Fri, 23 Mar 2007 13:28:46 +0000 http://www.canadiancapitalist.com/2007/03/22/this-and-that-39#comment-25305 The one that gets me the most is the guy that didn't bother reading his statements because he thought they were junk mail but then expected them to contact him, just because they would if he owed them money. If they owe you money, it's YOUR job to chase it and keep an eye on that. But besides that, it's completely idiotic NOT to at least glance through every statement you get sent by any company you deal with, because for seldom used credit cards that will often be your first indication of any kind of fraud problem. I think it's 30 days after your statement you have to notify them of a problem, so if someone has your card number and is going to town, if you don't even glance at your statement, you're paying for it. The one that gets me the most is the guy that didn’t bother reading his statements because he thought they were junk mail but then expected them to contact him, just because they would if he owed them money.

If they owe you money, it’s YOUR job to chase it and keep an eye on that. But besides that, it’s completely idiotic NOT to at least glance through every statement you get sent by any company you deal with, because for seldom used credit cards that will often be your first indication of any kind of fraud problem.

I think it’s 30 days after your statement you have to notify them of a problem, so if someone has your card number and is going to town, if you don’t even glance at your statement, you’re paying for it.

]]> By: Mark http://www.canadiancapitalist.com/this-and-that-39/#comment-25290 Mark Fri, 23 Mar 2007 12:17:06 +0000 http://www.canadiancapitalist.com/2007/03/22/this-and-that-39#comment-25290 Heh, first comment on a blog ever! I should give a hat tip to lifehacker though: http://lifehacker.com/software/finance/make-a-personal-finance-cheat-sheet-201515.php Their finance tips can be handy, though often directed at a US audience. cheers! Heh, first comment on a blog ever!
I should give a hat tip to lifehacker though:
http://lifehacker.com/software/finance/make-a-personal-finance-cheat-sheet-201515.php
Their finance tips can be handy, though often directed at a US audience. cheers!

]]> By: Canadian Money Blogs Reviewer http://www.canadiancapitalist.com/this-and-that-39/#comment-25250 Canadian Money Blogs Reviewer Fri, 23 Mar 2007 05:05:18 +0000 http://www.canadiancapitalist.com/2007/03/22/this-and-that-39#comment-25250 one note on point 5 that affects the calculation: the currency conversion spread is probable lower ..here (http://forums.canadianbusiness.com/thread.jspa?threadID=9233&messageID=162834) it says 1.5% and I've seen 1% in other places ... I guess a call to Etrade would be the best way to get a straight answer one note on point 5 that affects the calculation: the currency conversion spread is probable lower ..here (http://forums.canadianbusiness.com/thread.jspa?threadID=9233&messageID=162834) it says 1.5% and I’ve seen 1% in other places … I guess a call to Etrade would be the best way to get a straight answer

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