I have EQ USD account where I'm getting USD payments. I understood the best option would be to open a RBC Savings USD account since that gives you 1 monthly withdraw for free at the ATM and I can push USD from EQ to RBC? https://www.rbcroyalbank.com/accounts/us-e-savings.html Or is there a better option to get USD cash? EQ seems to be the best USD account for their (now) 2.5% interest but no option to withdraw at ATM? Statistics: Posted by MrBungal — Sep 13th, 2024 12:11 am ..read more

Can i deposit money into my friends RRSP account ? My friend wants to lend some money from me but he asked me to deposit into his RRSP via bill pay. Is that legal in Canada ? Thanks, Statistics: Posted by iamagtaguy — Sep 11th, 2024 12:07 pm ..read more

For those of you who worked for a company that offered a company pension plan which was registered in Quebec, Quebec has modified the rules for LIFs starting in 2025. People generally convert their Quebec provincially regulated company pension plan to a LIRA and then convert it to a LIF and now with the LIF, there is no longer a maximum withdrawal amount every year (so it functions more or less like a RRIF). As long as the taxpayer has the funds and is willing to declare the withdrawal as taxable income and pay the income taxes on it, he/she is now able to withdraw any amount. The taxpayer s ..read more

So I need to help relative to hunt for house. The plan is to get money wired to me from parents and I help someone buy real estate operating fund from my account. Is there tax implication or other issue that I move around fund like 0.5 m in and out and later used in real estate purchase? Statistics: Posted by napoleonbot — Sep 10th, 2024 1:47 pm ..read more

Hi everyone. My Mother just passed away May31, and her house is to be sold and the money divided between my two sisters and I. I've just turned 65 and am trying to figure out my future. I'm on a "fixed income" . no private pension plan. I was just wondering about the tax situation on the house sale, I assume taxes will be taken off at the time of the sale, but I'm not sure, and will i have to declare Capital Gains on my income tax? I expect approximately $!35,000 for my share before taxes, my Sisters are executors, and i have no idea how this works. Thank you for any advice, and feel free to a ..read more

Wondering if anyone else is having issues with this or is it just me. I enter Neo's new transit, institution and account number on PC's website and it says pending. Next morning I get an email telling me to try again. PC Financial tells me to check with Neo, Neo claims it isn't on their end. Basically they bounce me back and forth and nobody fixes anything or provides an answer as to why it won't work. If anyone has run into the same situation and got resolution or knows why please advise. Statistics: Posted by retireyoung55 — Sep 10th, 2024 10:35 am ..read more

I know Tangerine does, but other than that, is there any bank which would allow you to settle the overdraft same day at no charge? In chequing or LOC account. I know that LOCs should not charge anything for this case but, from my experiences with TD & BNS, they post the transactions couple of days late, not giving you the opportunity to settle the overdraft same day. TIA. Statistics: Posted by andrew4321 — Sep 9th, 2024 9:23 am ..read more

A few years ago I had a life insurance policy (for which I am the insured person) transferred into my name (I am now the policy owner) Most recent statement is from July: Amount of Insurance: 65,000 Current Dividend: 600 Total Amount of Dividend Left on Deposit: 30,000 Current Interest Rate: 2.5% Total Cash Surrender Value: 50,000 I pay about $40 per month for this policy. I get taxed on the dividend every year, but it is not actually paid out to me- it just gets reinvested. To me the smart move would be to cash out. If I do pass away, the insurance amount is paid out to my beneficiary non ..read more

I want to know if there are any saving options for a year. I have looked at the high interest savings accounts and GIC, but I am struggling to understand what is the better option. Please enlighten me with your inputs or any other links. Statistics: Posted by idummysat — Sep 6th, 2024 5:27 pm ..read more

What’s the highest rate offered for cashable gic or variable on the market right now from big Canadian banks. I don’t need fixed gic since I want to stay flexible and only trust big banks. Heard cibc is offering 3.85 for one year cashable Statistics: Posted by tgzo123 — Sep 6th, 2024 10:20 am ..read more