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Thread: Laurentian Bank - LBC Digital Bank - 3.3 % on Savings Account

  1. #1
    Canadian Guru
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    1
    https://www.lbcdigital.ca/en/saving/...E&gclsrc=aw.ds

    3.3 % on High Interest Savings Account

    CDIC Insured, so money is protected.

    Bank was Founded in 1846.

    Has been around for 170+ years in Canada, so very safe bank

    No minimum balance required
    No monthly account fee


    Fee schedule

    Effective October 20, 2019






    Daily banking fees
    Monthly account fee Free
    Cheque clearing Free
    Electronic fund transfers Free
    Transfers between LBC Digital accounts Free
    Pre-authorized deposits Free



    This thread is currently associated with: Apple
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  2. #2
    Canadian Guru
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    Transfer money in and out from your external bank account for free.

  3. #3
    Canadian Guru
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    Globe & Mail article on Laurentian LBC Digital bank.

    https://www.theglobeandmail.com/inve...e-33-per-cent/
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  4. #4
    Super-walking bean bun! Ciel's Avatar
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    Glad you indicated it's a digital bank. This particular one won't take coins.
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    2020-Money & Baby Yoda & Gatorade

  5. #5
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    Tangerine has become a joke these days with their rates. Give other guts a shot.

  6. #6
    Senior Canuck ING_rep's Avatar
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    Anyone gave this bank a shot? Iím curious to hear your feedback before going for it. Thank you!

  7. #7
    Easy Glider GoodBoy's Avatar
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    Good interest rate. I chose to go with another online bank.
    Last edited by GoodBoy; Sun, Jan 26th, 2020 at 09:10 AM.

  8. #8
    tightwad and proud of it! brunt's Avatar
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    The downside of course is that the rate is subject to change at any time. So, you go through the work of setting up a new account and transferring the money, only to have the rate decrease in the near future. Not saying that it is not worth it to try, but this is a real risk that I have lived through a couple of times before.

    On the plus side, if you have money that you can lock in, given that we are in peak RRSP contribution season, there are a number of higher than average GIC offers available. 2.65% is available for a 30 month deposit at an actual bricks an mortar credit union. At least you can count on that rate for 2 1/2 years.

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