Gurn Posted September 28, 2023 Share Posted September 28, 2023 As a starting post: Anyone keeping track of just which of the banks has the best incentives or rates for depositing money, for a period of time? I cannot see much point in putting it into my Credit Union's Power Saving Account at .5%.- I razz them about a name change-power savings lol. Seems some of the banks have these cash incentives for leaving money with them, and that already looks better than .5% But which and with whom, becomes the question? Quote Link to comment Share on other sites More sharing options...
Muscatel Marauder Posted September 28, 2023 Share Posted September 28, 2023 http://baystreet.ca/interest_rates/gic_rates.aspx 1 Quote Link to comment Share on other sites More sharing options...
BarneyKook Posted September 28, 2023 Share Posted September 28, 2023 40 minutes ago, Gurn said: As a starting post: Anyone keeping track of just which of the banks has the best incentives or rates for depositing money, for a period of time? I cannot see much point in putting it into my Credit Union's Power Saving Account at .5%.- I razz them about a name change-power savings lol. Seems some of the banks have these cash incentives for leaving money with them, and that already looks better than .5% But which and with whom, becomes the question? RBC you can get 5.5% interest for three months. Then it seems it drops to 1.7% (they are not to clear on this rate though after the promotional period. would have to confirm with them.) Quote Link to comment Share on other sites More sharing options...
6of1_halfdozenofother Posted September 29, 2023 Share Posted September 29, 2023 Investing... with Costco?! Quote Gold rush: Costco is selling gold bars and they’re flying off shelves By Michelle Butterfield Global News Posted September 28, 2023 11:43 am Updated September 29, 2023 5:14 am WATCH: Modern day Gold Rush as Costco gold bars fly off the shelves Costco is known for its great deals on oversized products (hot dogs, anyone?) but it’s one of its smallest items with a high price tag that’s causing a bit of a hullabaloo. The retail giant is now offering up one-ounce bars of gold in both Canada and the U.S. and, apparently, they’re selling like hotcakes. Costco Canada has the 24-karat PAMP Suisse Lady Fortuna Veriscan bars listed for $2,679.99, but they’re only available to Costco members and there’s a limit on how many can be bought — each member can only purchase two at once, every seven days. A view of the gold bar listing, as it appears on Costco.ca. Screengrab Manitoba customers, it seems, are out of luck, as the listing says they are not available for purchase there. And customers in the territories will have to fork over additional UPS delivery fees. Speaking during the company’s quarterly earnings call Tuesday, Costco chief financial officer Richard Galanti said the bars are in high demand and getting your hands on one can be tricky right now. “I’ve gotten a couple of calls that people have seen online that we’ve been selling one-ounce gold bars,” he said. “Yes, but when we load them on the site, they’re typically gone within a few hours, and we limit two per member.” It’s worth noting that in Canada the price listed on the Costco Canada website is slightly higher than what’s offered to TD Bank customers for the same 24-karat item ($2,670.21.) It is also higher than the price of gold on the open market, which was listed at around $2,552.54 as of market close Wednesday, according to NASDAQ. The Costco price also doesn’t take into consideration the cost of the $60 annual membership fee or the $120 executive membership fee, but reviewers of the product point to the value of the company’s two per cent cashback offered to executive members, plus any additional cashback programs offered by various credit cards. According to at least one expert, Costco’s foray into the gold market is a smart move, as a certain portion of the population becomes increasingly concerned about the future. Jonathan Rose, co-founder of Genesis Gold Group, told CNBC this product meshes with the increased offerings of survivalist goods and dried foods that he’s seen Costco bring into its stores. “They’ve done their market research. I think it’s a very clever way to get their name in the news and have some great publicity,” he said. “There is definitely a crossover of people living off the land, being self-sufficient, believing in your own currency. That’s the appeal to gold as a safe haven as people lose faith in the U.S. dollar.” Gold has long been viewed as a safe buy to hedge against inflation, as well as a more stable investment when compared with stocks and bonds. Over the past five years, the price of gold in Canada has risen approximately 64 per cent. https://globalnews.ca/news/9992179/costco-gold-bars-canada/ Quote Link to comment Share on other sites More sharing options...
moosehead Posted September 29, 2023 Share Posted September 29, 2023 2 minutes ago, 6of1_halfdozenofother said: Investing... with Costco?! https://globalnews.ca/news/9992179/costco-gold-bars-canada/ If costco puts the gold bars along the entrance when you first walk in..... no doubt my wife will put a couple in her cart.... Quote Link to comment Share on other sites More sharing options...
6of1_halfdozenofother Posted September 29, 2023 Share Posted September 29, 2023 18 minutes ago, moosehead said: If costco puts the gold bars along the entrance when you first walk in..... no doubt my wife will put a couple in her cart.... I'm not sure (based on the article, as I'm not a costco member) whether or not the physical items are available at their storefront locations. Seems to be primarily through their website. I'd speculate that the likelihood of them being physically available in-store is low, considering the security issues with preventing physical losses in such a setting. Quote Link to comment Share on other sites More sharing options...
bolt Posted September 29, 2023 Share Posted September 29, 2023 (edited) How things changed, when now the stock talk lead topic are GICs and Gold bars Edited September 29, 2023 by bolt 1 1 Quote Link to comment Share on other sites More sharing options...
6of1_halfdozenofother Posted September 29, 2023 Share Posted September 29, 2023 1 minute ago, bolt said: How things changed, when now the stock talk lead topic are GICs and Gold bars I dunno, maybe because the thread's title's first word is... "Investing"? Quote Link to comment Share on other sites More sharing options...
bolt Posted September 29, 2023 Share Posted September 29, 2023 (edited) 3 minutes ago, 6of1_halfdozenofother said: I dunno, maybe because the thread's title's first word is... "Investing"? Weren't GME, marijanua and pharma stocks more fun? Edited September 29, 2023 by bolt Quote Link to comment Share on other sites More sharing options...
6of1_halfdozenofother Posted September 29, 2023 Share Posted September 29, 2023 2 minutes ago, bolt said: Weren't GME, marijanua and pharma stocks more fun? No idea, I don't play the markets, and I'm a dunce when it comes to investing. Quote Link to comment Share on other sites More sharing options...
Ronaldoescobar Posted September 29, 2023 Share Posted September 29, 2023 19 hours ago, Gurn said: As a starting post: Anyone keeping track of just which of the banks has the best incentives or rates for depositing money, for a period of time? I cannot see much point in putting it into my Credit Union's Power Saving Account at .5%.- I razz them about a name change-power savings lol. Seems some of the banks have these cash incentives for leaving money with them, and that already looks better than .5% But which and with whom, becomes the question? perhaps a money market fund? Seen some solid yields now in the 4-5% range. Won’t get quite as much return as with a GIC but much more liquid than a GIC that’s locked in. that’s if you’re looking for safety of capital primarily of course. 1 Quote Link to comment Share on other sites More sharing options...
Ronaldoescobar Posted September 29, 2023 Share Posted September 29, 2023 19 hours ago, BarneyKook said: RBC you can get 5.5% interest for three months. Then it seems it drops to 1.7% (they are not to clear on this rate though after the promotional period. would have to confirm with them.) Yup as long as you keep it in the savings account you will get 1.7% (current rate) after the three month period. However it’s all done electronically with this type of account meaning you may need another regular account at RBC to transfer to and from, and they only allow one free withdrawal per month after that they charge a fee. Quote Link to comment Share on other sites More sharing options...
moosehead Posted September 29, 2023 Share Posted September 29, 2023 1 hour ago, 6of1_halfdozenofother said: I'm not sure (based on the article, as I'm not a costco member) whether or not the physical items are available at their storefront locations. Seems to be primarily through their website. I'd speculate that the likelihood of them being physically available in-store is low, considering the security issues with preventing physical losses in such a setting. For sure. I was joking . That costco crap at the front doors is hard to resist. LOL PS - i love costco for meat and cheese. 1 Quote Link to comment Share on other sites More sharing options...
moosehead Posted September 29, 2023 Share Posted September 29, 2023 1 hour ago, bolt said: How things changed, when now the stock talk lead topic are GICs and Gold bars Not for me. I continue to go in to ETF's in my TFSA . Market funds . 1 Quote Link to comment Share on other sites More sharing options...
UnkNuk Posted October 2, 2023 Share Posted October 2, 2023 "60 Minutes" did a segment with author Michael Lewis whose latest book "Going Infinite" is about Sam Bankman-Fried and FTX. Lewis was doing his research with SBF, not only while the going was good, but also when everything blew up. Pretty interesting interview. https://www.cbsnews.com/news/ftx-founder-sam-bankman-fried-michael-lewis-book-60-minutes-transcript/ Quote Link to comment Share on other sites More sharing options...
Boudrias Posted November 11, 2023 Share Posted November 11, 2023 Nice story to see Vancouver based Photonic partnering with MicroSoft on a quantum computer networking venture. Photonic gets $140 million for the project and another $ 100 USD in capital funding for the company. Extra nice that Photonic stated they located in Vancouver because of the recruiting appeal it holds. 1 1 Quote Link to comment Share on other sites More sharing options...
I.Am.Ironman Posted November 13, 2023 Share Posted November 13, 2023 Spoiler The federal watchdog for financial institutions is cracking down on cash exchange-traded funds, one of Canada’s most popular retail investments, by imposing capital rules that will ultimately lower the monthly yields the funds can pay out. Cash ETFs, also known as HISA ETFs, are hybrid funds sold by independent investment companies that function like high-interest savings accounts but are publicly traded and offer much better interest rates – around 5.3 per cent annually. These rates are similar to the yields offered by guaranteed investment certificates, which are sold by the banks, yet investors in cash ETFs can withdraw their money whenever they choose. For GICs, the money must be invested for fixed terms. The ease of withdrawal from cash ETFs frustrated some Canadian lenders, prompting the Office of the Superintendent of Financial Institutions to launch a formal review earlier this year. After six months of consultations, OSFI ruled Tuesday that Canada’s banks must change the way they treat the companies who sell cash ETFs. The changes are technical, but under the new rules cash ETF yields are likely to drop by 0.5 per cent annually, according to TD Securities. While this change is not expected to decimate the product, it is a win for the banks that opposed these funds because cash ETFs will become less competitive relative to bank GICs. In a statement Tuesday, OSFI superintendent Peter Routledge acknowledged the importance of innovation to a healthy financial system, but said OSFI’s “responsibility is to ensure the institutions it supervises manage liquidity risks prudently. This decision is consistent with established banking principles and reflects, in OSFI’s view, the appropriate liquidity treatment for these funding sources.” Som Seif, chief executive of Purpose Investments, the fund company that launched cash ETFs in Canada a decade ago, took issue with that characterization. “Frankly, this is once again OSFI showing that they don’t care about the end Canadian,” he said in an interview. Cash ETFs are some of Canada’s best-selling funds this year, with a total of $23-billion now invested, according to TD Securities. With the new changes, there will be less pressure on the banks to offer better rates to their clients. Although the central bank’s benchmark rate has jumped to 5 per cent, high-interest savings accounts across the Big Six banks are often still paying around only 1.5 per cent annually. Some lenders, such as Toronto-Dominion Bank TD-T +1.12%increase , do not even allow their do-it-yourself investing clients to buy cash ETFs through their discount brokerage. In its ruling, OSFI stressed the importance of stability for financial institutions. The fear with cash ETFs has been that investors could pull their money quickly if interest rates start to fall, and that could cause a problem for the banks because they have strict regulations on how much capital they must hold to buffer against things like loan losses. But cash ETF providers, including Purpose, CI Financial Corp., Horizons ETFs Management (Canada) Inc. and Evolve Funds Inc., have argued the money in their funds is quite “sticky,” making it akin to retail deposits. Because of the new OSFI rules, the money in cash ETFs – which gets invested in bank savings accounts with preferential rates to generate their yield – will have to be treated as wholesale deposits, not retail deposits. That means the banks will have to lower the rate they pay to the funds. Cash ETFs are able to pay high interest rates because select banks offer them access to wholesale funding – that is, the banks pay the funds premium interest rates they would normally reserve for institutional clients, or for large orders. Similar rates would be available to wealthy retail investors who wanted to deposit millions of dollars. This access has rankled some banks, The Globe has reported, because ETFs that offer premium rates to retail clients are likely to lure away customers from banks. While OSFI’s ruling hinders the product’s attractiveness, the worst-case scenario of a complete ban on cash ETFs has been avoided. “The silver lining to this decision is we now have clarity in order to continue to build the business going forward,” Horizons ETF chief executive Rohit Mehta said in an interview. Spoilers: https://www.theglobeandmail.com/business/article-canada-banking-osfi-cash-etfs/ Many have taken advantage of Cash ETFs that are paying over 5% with the current interest rates. This beats a GIC in the sense that they are more liquid without sacrificing much in the way of return (if at all). Choosing between this and GICs is an easy decision (IMO). Obviously the banks are now losing out on GICs because these high yielding funds are a better option for many. So now the banks are causing a stink and these funds may be affected. The stinks of bank lobbying; should this go through and the yield of these funds is impacted in a significant way, it is the little/retail investor losing out as per usual. 1 Quote Link to comment Share on other sites More sharing options...
Boudrias Posted November 13, 2023 Share Posted November 13, 2023 15 minutes ago, I.Am.Ironman said: Reveal hidden contents The federal watchdog for financial institutions is cracking down on cash exchange-traded funds, one of Canada’s most popular retail investments, by imposing capital rules that will ultimately lower the monthly yields the funds can pay out. Cash ETFs, also known as HISA ETFs, are hybrid funds sold by independent investment companies that function like high-interest savings accounts but are publicly traded and offer much better interest rates – around 5.3 per cent annually. These rates are similar to the yields offered by guaranteed investment certificates, which are sold by the banks, yet investors in cash ETFs can withdraw their money whenever they choose. For GICs, the money must be invested for fixed terms. The ease of withdrawal from cash ETFs frustrated some Canadian lenders, prompting the Office of the Superintendent of Financial Institutions to launch a formal review earlier this year. After six months of consultations, OSFI ruled Tuesday that Canada’s banks must change the way they treat the companies who sell cash ETFs. The changes are technical, but under the new rules cash ETF yields are likely to drop by 0.5 per cent annually, according to TD Securities. While this change is not expected to decimate the product, it is a win for the banks that opposed these funds because cash ETFs will become less competitive relative to bank GICs. In a statement Tuesday, OSFI superintendent Peter Routledge acknowledged the importance of innovation to a healthy financial system, but said OSFI’s “responsibility is to ensure the institutions it supervises manage liquidity risks prudently. This decision is consistent with established banking principles and reflects, in OSFI’s view, the appropriate liquidity treatment for these funding sources.” Som Seif, chief executive of Purpose Investments, the fund company that launched cash ETFs in Canada a decade ago, took issue with that characterization. “Frankly, this is once again OSFI showing that they don’t care about the end Canadian,” he said in an interview. Cash ETFs are some of Canada’s best-selling funds this year, with a total of $23-billion now invested, according to TD Securities. With the new changes, there will be less pressure on the banks to offer better rates to their clients. Although the central bank’s benchmark rate has jumped to 5 per cent, high-interest savings accounts across the Big Six banks are often still paying around only 1.5 per cent annually. Some lenders, such as Toronto-Dominion Bank TD-T +1.12%increase , do not even allow their do-it-yourself investing clients to buy cash ETFs through their discount brokerage. In its ruling, OSFI stressed the importance of stability for financial institutions. The fear with cash ETFs has been that investors could pull their money quickly if interest rates start to fall, and that could cause a problem for the banks because they have strict regulations on how much capital they must hold to buffer against things like loan losses. But cash ETF providers, including Purpose, CI Financial Corp., Horizons ETFs Management (Canada) Inc. and Evolve Funds Inc., have argued the money in their funds is quite “sticky,” making it akin to retail deposits. Because of the new OSFI rules, the money in cash ETFs – which gets invested in bank savings accounts with preferential rates to generate their yield – will have to be treated as wholesale deposits, not retail deposits. That means the banks will have to lower the rate they pay to the funds. Cash ETFs are able to pay high interest rates because select banks offer them access to wholesale funding – that is, the banks pay the funds premium interest rates they would normally reserve for institutional clients, or for large orders. Similar rates would be available to wealthy retail investors who wanted to deposit millions of dollars. This access has rankled some banks, The Globe has reported, because ETFs that offer premium rates to retail clients are likely to lure away customers from banks. While OSFI’s ruling hinders the product’s attractiveness, the worst-case scenario of a complete ban on cash ETFs has been avoided. “The silver lining to this decision is we now have clarity in order to continue to build the business going forward,” Horizons ETF chief executive Rohit Mehta said in an interview. Spoilers: https://www.theglobeandmail.com/business/article-canada-banking-osfi-cash-etfs/ Many have taken advantage of Cash ETFs that are paying over 5% with the current interest rates. This beats a GIC in the sense that they are more liquid without sacrificing much in the way of return (if at all). Choosing between this and GICs is an easy decision (IMO). Obviously the banks are now losing out on GICs because these high yielding funds are a better option for many. So now the banks are causing a stink and these funds may be affected. The stinks of bank lobbying; should this go through and the yield of these funds is impacted in a significant way, it is the little/retail investor losing out as per usual. Currently I am using CASH-T which is an ETF for short term cash. It pays 5.2% on a monthly basis. Using GIC's the terms are much longer to improve yield and liquidity becomes more of an issue. But CASH-T is short term money and the yield will go down if interest rates decline. Banks don't like such instruments as they take money away from their Term Deposits or even the cash that sits in accounts which they likely don't pay any interest on. I sympathize to a degree with their position that they have to secure their customer funds by holding reserves which these ETF's do not. While these ETF's are reasonably safe they do not have the same security as a term deposit. 1 1 Quote Link to comment Share on other sites More sharing options...
I.Am.Ironman Posted November 13, 2023 Share Posted November 13, 2023 3 hours ago, Boudrias said: Currently I am using CASH-T which is an ETF for short term cash. It pays 5.2% on a monthly basis. Using GIC's the terms are much longer to improve yield and liquidity becomes more of an issue. But CASH-T is short term money and the yield will go down if interest rates decline. Banks don't like such instruments as they take money away from their Term Deposits or even the cash that sits in accounts which they likely don't pay any interest on. I sympathize to a degree with their position that they have to secure their customer funds by holding reserves which these ETF's do not. While these ETF's are reasonably safe they do not have the same security as a term deposit. I use CASH in my registered accounts and HSAV in my non-registered. HSAV interest gets put right into the NAV so the stock price continuously climbs but you don't get a div. When you sell you pay capital gains but that is at a lower rate than tax on divs. 1 Quote Link to comment Share on other sites More sharing options...
Boudrias Posted November 13, 2023 Share Posted November 13, 2023 1 hour ago, I.Am.Ironman said: I use CASH in my registered accounts and HSAV in my non-registered. HSAV interest gets put right into the NAV so the stock price continuously climbs but you don't get a div. When you sell you pay capital gains but that is at a lower rate than tax on divs. I am all about monthly cash flow now. 1 Quote Link to comment Share on other sites More sharing options...
I.Am.Ironman Posted November 13, 2023 Share Posted November 13, 2023 21 minutes ago, Boudrias said: I am all about monthly cash flow now. Fair enough. Different stages of life, different goals. Quote Link to comment Share on other sites More sharing options...
AatuD2 Posted November 14, 2023 Share Posted November 14, 2023 I fully expect the Canadian banks to keep on tanking more over the next year, but I am slowly buying more and more of them. I also put a bit of money into an RBC 1 year 5.25% GIC. Quote Link to comment Share on other sites More sharing options...
Boudrias Posted November 15, 2023 Share Posted November 15, 2023 So the Liberals come to BC and announce a $1 billion investment in a battery plant. Not unusual since they have done the same in Ontario and Quebec. It stands as Canadian industrial development infrastructure I guess. A continuation of the multi decade public investment in a failed Auto Pact strategy. My question is why are public taxpayer dollars being spent by politicians on capital investments that private capital should be funding? If the private sector cannot see a return on their invested capital then why should government provide that risk capital? Valuations in the green energy industry, which were trumpeted as the future, continue to crater. IMO a massive misallocation of public and private investment. 1 Quote Link to comment Share on other sites More sharing options...
WeneedLumme Posted November 15, 2023 Share Posted November 15, 2023 5 hours ago, Boudrias said: So the Liberals come to BC and announce a $1 billion investment in a battery plant. Not unusual since they have done the same in Ontario and Quebec. It stands as Canadian industrial development infrastructure I guess. A continuation of the multi decade public investment in a failed Auto Pact strategy. My question is why are public taxpayer dollars being spent by politicians on capital investments that private capital should be funding? If the private sector cannot see a return on their invested capital then why should government provide that risk capital? Valuations in the green energy industry, which were trumpeted as the future, continue to crater. IMO a massive misallocation of public and private investment. Governments provides that risk capital to try to get the jobs and taxes the business is expected to generate. Private sector doesn't get those benefits. If a business is not particularly profitable but creates lots of jobs, governments are likely to be happy with that, private investors not so much. However, governments do tend to have histories of ill considered ventures. For every successful project like the Convention Centre, there is a Fast Ferries debacle that flushes away massive amounts of resources. Quote Link to comment Share on other sites More sharing options...
Boudrias Posted November 15, 2023 Share Posted November 15, 2023 2 hours ago, WeneedLumme said: Governments provides that risk capital to try to get the jobs and taxes the business is expected to generate. Private sector doesn't get those benefits. If a business is not particularly profitable but creates lots of jobs, governments are likely to be happy with that, private investors not so much. However, governments do tend to have histories of ill considered ventures. For every successful project like the Convention Centre, there is a Fast Ferries debacle that flushes away massive amounts of resources. This battery plant is pretty much a nuts and bolts investment, no? There is private capital involved. I understand that there is a North America bidding war going on for these types of investments. Easy for me to spout off when I don't know all the circumstances. I find it easier when Government provide research money into university development programs. Even then I would hope the tax payer is protected by repayment programs if commercial concepts are developed. My knee jerk reaction was for taxpayers who are already finding it very hard to make ends meet. Private capital will look for all the advantage they can get and asking for government handouts becomes automatic. Used to be that companies had to sell their ideas to private capital to raise the required money. Quote Link to comment Share on other sites More sharing options...
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