anyone signed up for the PC tax free acount?
 

opening at 3.75% is pretty good.

but when I try to apply online (while signed in) I just get this

We are unable to complete this request.
If you have any questions, please contact President's Choice Financial® Customer Support at
1-888-723-8881 or visit a pavilion near you.
President's Choice Financial® products are currently not available to residents of Quebec.
You must have reached the age of majority in your province in order to apply for credit products and overdraft protection.

Yea, same thing happened to me. I've tried opening every type of account but they've all direct me to the same screen.

still can't make one. this is lame. maybe I'll call tomorrow

probably faster if you can somehow drop by a PC Financial hut at Superstore. Takes them less than 10 minutes to set up accounts on the computer, and you're there to see it all.

whats the rate after jan 1st?

HSBC is offering 3.75% too

go vancity!

tfsa's arent just high interest savings accounts.....at TD for example, we have our full line up of investment options (all gics + term deposits) and you can use your tfsa for self-directed trading (td waterhouse discount brokerage). these options are def worth it and will be a lot better profit wise then a 3.75% acct. just something to think about......

does any bank offer more than 3.75%

the 3.75% rate for HSBC is only going to last for contributions up to March 16 2009... damn fine print.

finaly went by superstore... took them about 2 mins to make it. (since I already have a acount there)

I doubt their 3.75 rate will last more then a couple months either.

I don't have a tax-free account but I have the Interest Plus (IIRC) Account. If you got more than a grand in there, 3.75~4% interest rate (whatever BOC is at, I THINK...)

So if you have ~5k, you'll get around $13-14 per month.

the interest plus is down to 2.25% or so now...

set up a tax free and move it to there. otherwise $4 of that 14 is owed to the government



I just checked the TD rate for the TFSA and it's 1.75% .....

saving rates are droping hard

Like stated above, TFSA are NOT restricted to savings, but to investments such as GIC's.

ING TFSA is sitting at 2.70. 2.70-2.75 seems to be what most places are offering now. kinda sucks that if you want to throw more than 5k in there you'll get a penalty for it though

BMO TFSA offers 3% for its Cash Savings account. I heard Coast Capital has some good rates although I can't confirm. Anything over 3% for redeemable is great, esp. in today's market.

Alot of banks are opening tax free accounts now

which reminds me i need to open up a TD one

Fuking sucks. I'm not of age so i cant open up an account. I got to wait till next year then im allowed to put in 10 grand. I'll probably put in 7 grand or so next year.

the TD savings acount is only 1.75% I think... TD is a waste unless you are doing something else with the money.

looks like PCs 3.75 introductory rate has already fallen to 3.05 in 2 weeks

ouch... 3.05 has become 2.55

ouch, maybe time to move to a GIC, but those aren't great now either.

It's unfortunate PC doesn't have an option for mutual funds like the other banks. I hate to have to take my money elsewhere.

I wonder what the process is for moving money from a tax free acount to another bank? I guess it would be simular to an RRSPs. (but I don't know how that works)

I guess if you set up a TFSA an another bank, and transfer acount to acount it would be ok. you can't withdraw the money though and then deposit in the other acount, as the $5000 limit has already been used up. (asumming your had 5k in it)

I beleive if you withdraw money, the space does free up, but not untill the following year. IE I can deposit $5k in Jan. withdraw in march. My 5K for the year is used up, but The following year I regain that space, and can put in 10k. (the freed up space from this year + the extra 5k for next year)

I think that's how the TFSA works. I don't know how RRSP's work in this requard. if I withdraw from an RRSP, do I regain that RRSP contribution space in the future? or is it gone forever?

^i think thats correct. if you withdraw you wont be able to re-contribute till next year.
i think i read that theres a fee ($25 or so) to xfer to another TSFA account. there goes a big chunk of the interest you would make on your TSFA right there. i might move it to TD just to invest in some mutual funds, GIC rates are terribad.