User Tag List

Results 1 to 8 of 8
Like Tree3Likes
  • 1 Post By tjthemanto
  • 1 Post By tjthemanto
  • 1 Post By Ciel

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

  1. #1
    Canadian Guru
    Join Date
    Mar 2010
    Location
    Canada
    Posts
    11,052
    Likes Received
    6201
    Trading Score
    46 (100%)




    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
    Ciel likes this.


  2. #2
    Canadian Guru
    Join Date
    Mar 2010
    Location
    Canada
    Posts
    11,052
    Likes Received
    6201
    Trading Score
    46 (100%)




    Transfer money in and out from your external bank account for free.

  3. #3
    Canadian Guru
    Join Date
    Mar 2010
    Location
    Canada
    Posts
    11,052
    Likes Received
    6201
    Trading Score
    46 (100%)




    Globe & Mail article on Laurentian LBC Digital bank.

    https://www.theglobeandmail.com/inve...e-33-per-cent/
    Ciel likes this.

  4. #4
    Bean bun going offline Ciel's Avatar
    Join Date
    Jul 2009
    Location
    Ontario
    Posts
    17,846
    Likes Received
    24776
    Trading Score
    12 (100%)




    Glad you indicated it's a digital bank. This particular one won't take coins.
    tjthemanto likes this.
    2021-Bring on the sunshine, sweets & online shopping.

  5. #5
    Canadian Guru
    Join Date
    Mar 2010
    Location
    Canada
    Posts
    11,052
    Likes Received
    6201
    Trading Score
    46 (100%)




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

  6. #6
    Senior Canuck ING_rep's Avatar
    Join Date
    Mar 2011
    Location
    Montreal, Qc
    Posts
    649
    Likes Received
    260
    Trading Score
    2 (100%)



    Anyone gave this bank a shot? I’m curious to hear your feedback before going for it. Thank you!

  7. #7
    Easy Glider GoodBoy's Avatar
    Join Date
    Mar 2017
    Location
    Who knows ... but I Would Rather Be Someone's Shot of Whiskey, Than Everyone's Cup of Tea
    Posts
    4,033
    Likes Received
    12166
    Trading Score
    0 (0%)




    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
    Join Date
    May 2009
    Posts
    540
    Likes Received
    592
    Trading Score
    0 (0%)



    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.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •