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If you are a Costco member, their branded card offers 3% on restaurants, 2% on gas and 1% on everything else. Also works as your membership card and allows single tap verification / payment at the pumps.
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Mar 16, 2018 19:00
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Math You posted:If you are a Costco member, their branded card offers 3% on restaurants, 2% on gas and 1% on everything else. That single-tap verification saves a lot of time there. Also, the cashier told me that their in-store tap limit is $200, not the standard $100. Fair warning, though, their 1% is "up to 1%": meaning you only get 0.5% for the first $500 per year. After that you get 1%.
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Mar 16, 2018 19:13
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mojo1701a posted:That single-tap verification saves a lot of time there. That's correct on all counts. I'll add that the ramp up only applies to 1% purchases. I checked the first restaurant transaction of the year and got 3% on it. $500 is also a very low ramp-up. My old TD 1% Visa required 3k... Card is a goddamn beast when I travel for work.
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Mar 16, 2018 19:41
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Math You posted:That's correct on all counts. I'll add that the ramp up only applies to 1% purchases. I checked the first restaurant transaction of the year and got 3% on it. $500 is also a very low ramp-up. My old TD 1% Visa required 3k... This seems like a good deal, thanks for the heads up
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Mar 16, 2018 19:47
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edit: wow, my entire question was posted in the last twenty posts. Good job me, and thanks to everyone for already answering it 
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Mar 17, 2018 23:44
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Math You posted:That's correct on all counts. I'll add that the ramp up only applies to 1% purchases. I checked the first restaurant transaction of the year and got 3% on it. $500 is also a very low ramp-up. My old TD 1% Visa required 3k... Yeah it's not an especially hard minimum to hit if you use it at Costco. Unrelated: I've had a few clients give us Gofundme receipts hoping for a charity credit and we have to tell them it's not allowed.
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Mar 20, 2018 00:56
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What are the rules for deducting management fees? Anything non-registered, against investment income (capital/dividend/interest)? Seems like I should be trying to lock in (converted) capital gains right up to the amount of fees I pay, so that I get the most use out of the deduction.
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Mar 20, 2018 01:09
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Subjunctive posted:What are the rules for deducting management fees? Anything non-registered, against investment income (capital/dividend/interest)? Seems like I should be trying to lock in (converted) capital gains right up to the amount of fees I pay, so that I get the most use out of the deduction. Pretty much. Unless it's already been deducted in the net proceeds, or if they're for a registered account. Same with interest on money borrowed for investment income.
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Mar 20, 2018 02:05
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I think I already asked something similar to this, but how is RBC's reputation as far as Canadian banks go for everyday banking?
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Mar 20, 2018 09:05
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Professor Shark posted:I think I already asked something similar to this, but how is RBC's reputation as far as Canadian banks go for everyday banking? I used them my whole life up until I finished grad school at which point my chequing account was no longer free so I closed all my accounts because why would you pay for banking? Also they don’t give a poo poo about you unless you have money.
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Mar 20, 2018 09:38
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Professor Shark posted:I think I already asked something similar to this, but how is RBC's reputation as far as Canadian banks go for everyday banking? They're a bank, and they're not CIBC who still wears that "most likely to walk into a sharp object" label even though I think it's been at least 5+ years since the last really stupid thing. So, more or less same as any other? Decent weekend hours, some but not pack-leading weekday evenings... you can deal with whatever branch you like (I gather Scotia likes to make you go to your home branch for anything non-trivial, think that's only them.) I've dabbled with most banks in the last few years and have used a couple others for everything for 5+ years each but currently have the vast majority of my banking at RBC because they historically and still, to date, have by far the best Canada-US integration and as time has gone by I've been doing more and more cross-border stuff financially. RBC are harder to get a free account out of than most -- basically, only the bottom tier account (12ish transactions per month? More than enough if you mostly spend on credit cards), and you need a 'once-per-three months' active credit card and an active investment account with them to waive the fee. If you need cheques, game the system by changing your account to one that includes them online, order them, then change it back in a branch / on the phone a few days later and pay ~$1-2 in prorated monthly fees instead of $70. Also their direct brokerage supports "no phone call required" Norbert's Gambit CAD/USD FX trades which is a big convenience (so does BMO's) ... Interactive Brokers would render this moot, but I really prefer having everything in one place. cowofwar posted:I used them my whole life up until I finished grad school at which point my chequing account was no longer free so I closed all my accounts because why would you pay for banking? Also they don’t give a poo poo about you unless you have money. CIBC somehow kept my sister on their totally free youth/student account until a few months ago -- she graduated from university about 25 years ago. Bank error in your [her] favour! James Baud fucked around with this message at 09:53 on Mar 20, 2018 |
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Mar 20, 2018 09:51
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Professor Shark posted:I think I already asked something similar to this, but how is RBC's reputation as far as Canadian banks go for everyday banking? I'm broke as poo poo and I've used RBC my whole life until about 2 years ago when I switched to Scotiabank and had really, really awful customer service issues, appointments constantly not sohwing up in a branch's system even though I made it in-person or over the phone (didn't matter) and then switched to Tangerine which was fine until the new design launched and everything became convoluted and a bloated mess. Their customer service also really sucked in that its barely existent. Switched back to RBC, hosed up a transfer from Tangerine -> RBC (accidentally did it in reverse so it tried to transfer from $0 chequing account on RBC), phoned in and RBC reversed the NSF and we all had a good laugh at my expense. I switched away from RBC precisely because of them phasing out any free accounts with unlimited debits but after dealing with a couple other banks I came running back and it feels nice even if they are taking $10.95/mth out of my account. It feels good knowing there's a bunch of branches I can walk into and, I know this is highly subjective and personal, but I've had nothing but great customer service experiences either in-branch or over the phone with RBC.
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Mar 20, 2018 16:47
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CIBC has yet to screw anything up on me. I'd use RBC based on testimonials. I wouldn't touch Scotia or TD with a twenty foot pole due to things I've heard.
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Mar 20, 2018 18:11
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James Baud posted:CIBC somehow kept my sister on their totally free youth/student account until a few months ago -- she graduated from university about 25 years ago. Bank error in your [her] favour! This is what I have going with BMO, no fees/ unlimited debit transactions. I was surprised when going through RBC's options that I couldn't find something similar to what I have, but remembered that I'm a college student to them. Anyway, thanks for the feedback on RBC. I really just want to use them for a Savings account/ transfer money in-and-out of, I'll keep my regular BMO until it gets discovered, then find something else.
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Mar 20, 2018 20:49
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I find it weird that
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Mar 21, 2018 02:38
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Sputnik posted:I find it weird that Same. I’m always confused when people talk about bank fees.
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Mar 21, 2018 03:29
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I use them as my primary bank and they've been pretty great. 0.8% as a standard for interest in all balances which at least slows down the loss due to inflation on the emergency fund. Only thing I missed was US withdrawals from a teller so I opened an account at a local credit union as their rates are usually lower than the big banks. Now I've just gotten the Fido card for my US purchases when I visit south so don't really need the credit union unless I need US cash for whatever reason. Anyone want to share TD horror stories? I use them for investment and they've been good to me. Keeping a checking account there as it simplifies depositing and withdrawing but the minimum balance to avoid fees on it is low enough that I'm only mildly annoyed about it.
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Mar 21, 2018 05:10
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I have been a TD lifer and never had an issue (for every day stuff). The one time I had any amount of debt they locked it in at 1.99% for a year, with no payment restrictions, which was more than enough to pay it off. My LOC was 8.95% so it was a pretty good deal. They also have chequing account minimums to have the fee waived.. I have like a $22/mo account which includes free cheques, etransfers, unlimited transactions, and a bunch of other poo poo I don't really care about and it's free if you maintain a 5k balance, which really is not all that onerous. I think a standard account requires 2k to dodge the $10/mo charge. That said no way in loving hell am I investing with them LMAO.
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Mar 21, 2018 11:52
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Math You posted:
Their e series mutual funds are nice, and the direct investing / waterhouse interface is really nice in my opinion. The commission on etf purchases is dumb though, eventually I'll open up a questrade account but don't they just delay the commission until you sell? Their standard products they try to push. Yeah 
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Mar 21, 2018 13:35
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I was with RBC all my life until a few years ago when they were replacing employees with TFW's so we switched to TD. Those are the only two banks I know of that let you have true cross border banking so even though TD is kind of expensive we are stuck with them. I will admit the long hours at most branches is nice though.
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Mar 21, 2018 16:05
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I’ve used Tangerine now for years with no problems. My wife also uses TD because of the US/Canada convenience.
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Mar 21, 2018 16:57
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cowofwar posted:I’ve used Tangerine now for years with no problems. I will admit RBC is better at the cross border stuff. They let you transfer money between the Canada/US accounts via the web interface whereas TD requires you to call in and talk to an actual person to do the transfers. I think I was able to be issued a debit card for the US RBC account from Canada too. With TD I had to actually visit a US branch to get a card which was a little inconvenient since I live on the west coast and TD USA only has branches back east. It's just too bad about the temporary foreign workers
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Mar 22, 2018 03:57
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I've used TD my whole life and never had an issue with them (I also worked there for a few months at university as a teller), I have had a couple accounts with RBC and it has always been the biggest loving hassle to do literally anything. Also when I moved back to Canada I went to a branch to close my credit card account with them, I did it, they gave me the forms, I signed them, they told me my account was closed. When I got my car financed the lady showed me my credit report and it turns out no, that card wasn't closed, it's been open for the last 5 years after I told them to shut it down. Luckily it was a zero-fee card, and apparently no one has gotten the replacement cards which have been sent to god knows where and racked up thousands on it.
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Mar 22, 2018 04:19
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Squibbles posted:I will admit RBC is better at the cross border stuff. They let you transfer money between the Canada/US accounts via the web interface whereas TD requires you to call in and talk to an actual person to do the transfers.
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Mar 22, 2018 06:53
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cowofwar posted:My wife transfers money around between her US and Canadian TD accounts online without a problem. If you have the US client card, TD has a Visa Debit method by which you can move small amounts ( < 3k? I forget) from Canada to the US online with a delay of a business day or so plus another day for an automatic fee refund, but no way to go US to Canada (or move more south) without a call with possible hold + 5-10 minutes with phone rep for their wire spiel and the day or two delay for that and the fee refunds to go through. Also you get two letters in the mail per wire and those add up. Mind you, despite having the US client card, the Visa Debit method abruptly stopped working for me and then my money would be refunded a few days later each time I tried. I never did sort this out because the daily limit was inadequate. The above pales in comparison to "instant and online" with RBC if you're doing it a lot, especially since occasionally the TD phone reps screw up the wire transfer and it takes a couple business days before you're sure it won't go through and you get to call back to try again. James Baud fucked around with this message at 11:32 on Mar 22, 2018 |
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Mar 22, 2018 09:53
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I always wondered if it would be worth it to transfer 10-20 a paycheck into a TD USD account instead of exchanging 200-300 dollars at once for my once or twice US trip a year. TD told me before that they only charge fees on purchases or when you take money out of the account.
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Mar 22, 2018 16:31
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Don't know if this has been posted here and/or regulars are aware of it already but some U.S. roboadvisors are getting shady and going from passive to active investments so Canadian roboadvisors might follow suit. https://www.wired.com/story/beware-roboadvisors-wealthfront-betterment/
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Mar 23, 2018 19:27
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I just dumped everything into VGRO today. All in one ETFs like VGRO are going to drink the robo-advisors' milkshakes right up.
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Mar 23, 2018 23:15
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Are the TD e-series still ok?
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Mar 24, 2018 08:01
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How is qtrade? My broker is MD Management and they have some new self-directed qtrade setups with a slightly lower commission for trades. I can stick with my current account at $9.95 per trade or go with the qtrade one at $8.45 per trade. Bad rates but I rarely execute trades, just a couple ETF buys a year.
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Mar 24, 2018 09:25
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Baronjutter posted:Are the TD e-series still ok? Yep!
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Mar 24, 2018 13:08
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cowofwar posted:How is qtrade? My broker is MD Management and they have some new self-directed qtrade setups with a slightly lower commission for trades. I can stick with my current account at $9.95 per trade or go with the qtrade one at $8.45 per trade. I use virtualbrokers myself. I have an old enough account that I pay a penny per share on every trade, while more recent accounts have a slightly different offer: New accounts get $9.99 per trade, but ETFs buy and sell for free (technically, they do charge the $9.99, but they refund you at the end of the business day). Their website is a little janky and I can only get their log in to work via Chrome these days (think it's an ad-blocker issue on FF), but they are rock-bottom cheap.
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Mar 24, 2018 21:01
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i use and like qtrade but i only make a handful of trades a year that aren't on their commission free list
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Mar 25, 2018 04:43
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Is Income from Specified Foreign Property, if the property is a bunch of stocks, the dividends from those stocks? And what is the Gain from the disposition of specific foreign property? This is the first year i have to fill out T1135 and these two fields are tripping me up.
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Mar 26, 2018 03:06
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Ccs posted:Is Income from Specified Foreign Property, if the property is a bunch of stocks, the dividends from those stocks? Yes. Income is anything like interest, dividends, capital gains, etc. Gain on disposition is the full capital gain on anything like shares, property, and not the 50% taxable gain. If you have a tax package at year-end, it should list the maximum values, etc. that you need to fill it out. Assuming, of course, that its cost exceeded $250,000 at any point. If not, just fill out the simplified method.
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Mar 26, 2018 14:27
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Unrelated to the above, I finally used up my Costco Mastercard's cashback coupon. Since it was for more than I was purchasing, I got the rest back as change. The cashier told me that even if I bought just a chocolate bar with my coupon, I would've gotten it all back as cash.
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Mar 26, 2018 19:08
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mojo1701a posted:Unrelated to the above, I finally used up my Costco Mastercard's cashback coupon. Since it was for more than I was purchasing, I got the rest back as change. The cashier told me that even if I bought just a chocolate bar with my coupon, I would've gotten it all back as cash. You don't have to buy anything with it. In fact I suggest you just get cash for it from the service desk and use the card to pay for your purchases to get your 1%. We got $700 back last year 
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Mar 26, 2018 20:21
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large hands posted:You don't have to buy anything with it. In fact I suggest you just get cash for it from the service desk and use the card to pay for your purchases to get your 1%. We got $700 back last year Hmm, didn't even know you could do that. Either way, I was getting reimbursed for a $50 purchase anyway.
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Mar 26, 2018 20:47
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At my local Costco they said they can't cash them at the members desk and that you have to do a purchase and get the change back. Something about the rules having changed in terms of how it's taxed, they didn't really have a straight answer. Small purchase and majority of the cash back was no issue for the cashier so oh well I guess.
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Mar 26, 2018 22:53
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weird, mine just cut me a cheque
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Mar 27, 2018 03:00
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