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Tue, Nov 26th, 2019, 06:55 PM #1
- Join Date
- Mar 2010
- Location
- Canada
- Posts
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- 6201
- Trading Score
- 46 (100%)
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
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Tue, Nov 26th, 2019, 06:56 PM #2
- 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.
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Wed, Nov 27th, 2019, 03:05 PM #3
- 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/
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Thu, Nov 28th, 2019, 12:55 PM #4
- 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.
2021-Bring on the sunshine, sweets & online shopping.
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Sun, Dec 15th, 2019, 02:02 PM #5
- Join Date
- Mar 2010
- Location
- Canada
- Posts
- 11,052
- Likes Received
- 6201
- Trading Score
- 46 (100%)
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Sun, Jan 26th, 2020, 08:55 AM #6
- 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!
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Sun, Jan 26th, 2020, 09:01 AM #7
- 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.
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Mon, Jan 27th, 2020, 07:20 AM #8
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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