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Moved to Ann Arbor, Michigan. Advice on free banking. Tangerine US account?

September 2, 2016, 10:59 am
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Hello,

My girlfriend moved to Ann Arbor Michigan for school for the next 3-5 years and I'm helping her with banking options. Can you guys suggest any good free banks/credit unions?

Also, would it be advisable to open a Tangerine US account ( https://www.tangerine.ca/en/saving/savi ... index.html ). I know how great tangerine is in Canada (I'm a big fan), but will she eventually get killed with (conversion?) fee's over time?

Any advice is greatly appreciate. Thank you.

Statistics: Posted by fix23 — Sep 2nd, 2016 1:59 pm

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How likely is TD to cover our brokerage transfer fees?

September 2, 2016, 11:19 am
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We are with Questrade with 3 accounts (2x TFSA, 1x RRSP)

Total value of accounts is about $81,000.

Since it's 3 accounts, Questrade wants to nail us for $450 to transfer out. Ouch.

I called TD to ask but they essentially said the decision whether to cover transfer fees is made after I request the transfer. Not very reassuring, really.

Anyone have experience?

Statistics: Posted by scouzer — Sep 2nd, 2016 2:19 pm

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PC Financial til Dec 31: 2.25%!!!

September 2, 2016, 1:45 pm
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For new money deposited from Sept 1 - Dec 31. Has to be in their Savings account, not a chequing account. Max $500,000.
You have to phone to get this promo rate. Its not targeted. Mornings usually have less of a wait.
This is GREAT news. PC Financial is a joy to deal with and offers easy linking to an unlimited number of accounts.
Their downsides: No email notifications, no message center, no US bank accounts.
Its got free transactions, also free to other PC members but only by phone only - can't do it online (yet), and overdraft at reasonable rates.
Perfect for you Manulife and EQ Bank customers.
Keep in mind anything over 100k is uninsured.

Statistics: Posted by redflagguy2u — Sep 2nd, 2016 4:26 pm

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Which Mortgage Lender Pulls Which Credit Bureau

September 2, 2016, 5:00 pm
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I am looking into buying a house. I just pulled my credit scores/reports today, and found that Transunion has a better score and no collections on it, while Equifax has a collection. I wonder if there is any mortgage lender (or Bank) that only pulls the credit report from one, or other, or both bureaus?

I was hoping the collection on Equifax to purge last month, as the DOLA was 08-2010. It appears that they have readjusted the DOLA to 02-2011, and possibly they will keep this collection for ever by pushing the DOLA. Regardless, I have a good score on Transunion and if any lender only looks at my Transunion report I have a fair chance of mortgage approval and a better rate.

Statistics: Posted by bazinga101 — Sep 2nd, 2016 8:00 pm

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Legal shield for wills

September 3, 2016, 7:36 am
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I was looking for a lawyer to write wills and health related directives for my husband and I, and it looks like it's around $850 to $1500 to get this done.

A friend told me about legal shield which is $26 a month and includes these - so it would be three years of this service free essentially if I used instead. They offer free letters etc, so I like the idea of it.

Has anyone used them? The reviews are mixed for businesses - for something simple like wills I think it would be straight forward.

Statistics: Posted by eternitybc — Sep 3rd, 2016 10:36 am

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CIBC canceling Mastercard?

September 3, 2016, 11:35 am
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Just got off the phone with a rep who claimed that CIBC is converting all its Mastercard cards into VISA. He claims they've been sending notices for a while but I did not receive anything. I could not find anything on their website either.

I had a Mastercard that used to be Citi bt was taken over by CIBC.

I tried their online "apply" link and they only have the Petro Points Mastercard available, anything else is VISA. With Walmart dropping VISA, etc. this concerns me, especially since I have yet to hear anything. Has anybody else heard of anything like that? If it's true, why the news blackout?!

Statistics: Posted by ColloSus — Sep 3rd, 2016 2:35 pm

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Credit for travel/Cashback

September 3, 2016, 2:56 pm
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Hello everyone, I currently have a basic visa not collecting points or anything. I would like a new credit card preferably for travel points but open to a different card if the value is better. I would prefer not to have multiple credit cards and just have one for all my spending. For travel card I would be looking for something thats not too restrictive on flights. I am looking at the Captial One world elite MC and AMEX gold but am open to suggestions.

Monthly spending $700-800-Grocery, gas, transit, restaurants/social
Income-Around $45,000 per year/Household income $120,000/year

I expect in a year income will go up to $65,000 and monthly spending up by $200-$300

Would appreciate any help.

Statistics: Posted by Hitman21212 — Sep 3rd, 2016 5:56 pm

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2.25% until Dec 31st promotional rate with PC Financial

September 4, 2016, 4:01 pm
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How to: verify Equifax/Transunion info

September 4, 2016, 11:42 am
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Whenever I apply for a new card, my credit check info always fails and I need to call in. While this could be considered as "security" in a way, it's rather annoying and I'm not sure how the old/incorrect info got there in the first place.
Is there a way to call equifax/transunion and have them release all my info on record so that i can update my info as needed? Is this possible?

Statistics: Posted by tiger_handheld — Sep 4th, 2016 2:42 pm

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Help me understand company RRSP

September 4, 2016, 3:06 pm
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I'm pretty newb regarding RRSPs. I just found out from the Union booklet that my company has an RRSP program for employees after their probation period. It pretty much says...
The company will contribute on a dollar for dollar amount to a maximum of 3% of the employees bi weekly wages. The employee must elect bi weekly payroll deductions and the company will match to a maximum of 3%. The company's portion becomes vested after two years from the date the employee enrolls into the program.
My probation ends in mid December 2016 so it'll be for 2017 instead of 2016.
My bi weekly wage (after tax, Union fees, govt stuff) is around 1000$... Or does it use pre-tax amounts?
My pre-tax income for 2016 looks to be about 25000-30000$.
I don't plan to stay at this company past 2018... Unless my plans don't work out and I have to stay or their payscale improves.

So that means the company would match my contribution to a 1:1 ratio? If I put in 100$, they put in 100$. But they cap their contribution at 3% of my bi weekly wage so they'd only contribute 30$.

I read somewhere that RRSP is based on previous year's earnings. So how much would I be able to contribute?

What happens to the money to put towards my RRSP? Like a 2% savings account? 3% MER mutual fund? Index ETF? Or I'll have to ask payroll for details?

What does it mean by vested after two years into the program?

Thanks!

Statistics: Posted by ChappyHappy — Sep 4th, 2016 6:06 pm

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Best Cashback Credit Card with No Annual Fee

September 4, 2016, 4:38 pm
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I currently have a basic Visa from TD with a $2,000 limit with no benefits. I'm looking to upgrade to a different credit card which has some perks as I use my Visa quite frequently since my debit card only has a maximum of 25 transactions per month (TD Student Chequing Account). I don't think I spend enough money to justify paying an annual fee for a credit card, so I'd be looking for one without a fee. I probably spend about $600-700/month on a variety of things including gas, getting my own groceries on occasion (I live at home), phone bill, and other leisure activities (eating out, shopping, etc).

I understand TD has their own no annual fee cashback MasterCard, but they only offer a 0.75% return.

Thanks

Statistics: Posted by cod2 — Sep 4th, 2016 6:59 pm

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How does a death of a beneficary affect RRSP/TFSA?

September 5, 2016, 5:32 am
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I'm in the process of helping my mother setup an RRSP and TFSA. She is retiring soon and is getting a large severance pay that she wants to roll in to an RRSP and over time transfer smaller sums from the RRSP to TFSA each tax year since her income will be much lower.

For the most part her thinking right now is that this money is something she won't need for retirement and thus is wanting to essentially hold it for us and give it to us when she dies. Of course things could change and maybe at some point she will indeed need that money for herself. Given that fact, slowly withdrawing from the RRSP and transferring to TFSA while retired in a lower tax bracket seems like the best course of action, as it's my understanding that there will be less tax implications on the beneficiaries under a TFSA vs RRSP. And, If she were to tax the lump sum severance pay and not roll in to into an RRSP she will take a huge tax hit on it.

In any event on the two registered accounts she wants my father and myself & siblings named as beneficiaries with certain percentages for each. This is not a problem, I'm setting up through Questrade and it appears easy to designate multiple beneficiaries with percentages on both the RRSP and TFSA

My question is though, what would happen if a beneficiary were to die before the account holder and they were left on as a beneficiary, would their % split among the other beneficiaries named? As far as I know right now she does not have a will.

Statistics: Posted by jfall — Sep 5th, 2016 8:32 am

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BC MSP, 19 year old student, continued enrollment as dependent versus premium assistance?

September 5, 2016, 6:33 am
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Can someone go over the differences for MSP coverage once turning 19 for a full time student with no/low income:

1) Continued enrollment under parents as a dependent

2) Individual but using premium assistance (no premiums due to low income as a student).

Parent's plan is covered via work as a benefit including extended/dental.

Statistics: Posted by arandomguy — Sep 5th, 2016 9:33 am

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Help with choosing a good MC for student

September 5, 2016, 8:29 am
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Hello,

Just wondering if you could all help me choose a good MC for a student basically using it at costco. Currently I have a Scotiabank Visa and Amex.

TIA

Statistics: Posted by KrazyKleo — Sep 5th, 2016 11:29 am

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Renegotiate fixed mortgage possible now that my income changed?

September 5, 2016, 11:08 am
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I'm three year into a five year fixed mortgage term with TD. At the time, the TD guy told me the rate they give out depends on the income/liability ratio. I changed job last year and now my yearly salary is about 37% more than what I had before, without much increase in liability. I'm wondering is it possible to renegotiate a better rate even though I'm on a fixed mortgage term?

Thanks!

Statistics: Posted by jchiu1106 — Sep 5th, 2016 2:08 pm

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how much to budget for electricity and water

September 5, 2016, 3:26 pm
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Hello friends

I have just moved into a townhome in the middlefield area in markham. I am trying to estimate how much would it cost me in terms of electricity and water per month on a rough estimate basis as when I registered with powerstream they mentioned that my billing would be bi monthly hence I would not know for sure how much till another two months down the line

We are a family of 3 (including self) and generally do not use AC but we do have a router that is on 24* 7 and the TV is streamed through the internet for around 4-5 hours during the day along with the refrigerator which is running 24 * 7

Other than that, the lighting is pretty standard and average usage of computers and lights through the day

If anyone could share some insights on the expected electricity bill and also water bill it would be of great help

Thanks

Statistics: Posted by toyotafan — Sep 5th, 2016 6:26 pm

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transferring credit history from Equifax and Transunion to their US counterparts?

September 6, 2016, 6:53 am
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Just moved to the US and unfortunately have no credit history here. I received my SSN early August for work.

Is it possible to transfer credit history from Equifax and Transunion in Canada to their US counterparts?

What is the fastest way to build credit in the US?

I am thinking I can get a VISA credit card from TD USA based on my Canadian credit history. I already have an RBC US Visa card which is linked to my SSN, but no credit report has been sent to any of the US Credit Bureaus (TransUnion, Equifax, Experian).

Statistics: Posted by capitalgain — Sep 6th, 2016 9:53 am

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Bringing money from China

September 6, 2016, 10:44 am
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Can anybody tell me the names of big reliable companies that send money from China to Canada? I am only interested in very reliable companies. I have already heard of KGB Kunlun and OTT.

Statistics: Posted by Dutchycup — Sep 6th, 2016 1:44 pm

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Buying a car.. finance or pay it outright

September 6, 2016, 11:04 am
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What would be the smarter way to buy a car.. pay it out right or finance it and take the money and invest it.

im looking at a chevy volt and it going to cost me 28k all in after trade-in, i got about 30k in cash right now

interest rate to finance that car is at 2.9%. so cost of borrowing would be around 2k or so over 5 years.

could i do better then 2k with 30k investment over 5 years?

Statistics: Posted by fallengod — Sep 6th, 2016 2:04 pm

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Quick Question: Fraud + Debt Collection

September 6, 2016, 3:35 pm
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Hopefully someone might be able to chime in and help me out. My credit card and personal information was compromised early this year and has since been resolved. A few months ago I received an invoice from a well known shipping company for a shipment I never made (I never even knew I had an account). I immediately called the company and reported this as fraud. They let me know that they would send this off to the fraud department and I need not worry about paying anything. I never received any follow up and I made the assumption that all was well until just recently I received a letter from a debt collector notifying me that my fraudulent bill had been sent to collections. I called the shipping company right away and they let me know that they made a mistake in not following up and that the account still had showing an outstanding balance. The representative told me that I will receive a follow up call in 3 days and also CC'd me on the e-mail sent to the supervisor. They also told me they would make sure to contact the debt agency to tell them that the debt does not in fact exist.

Here's my question:
1) If the shipping company already sold the debt off to the collection agency, couldn't they just keep harassing me regardless of if it was reported as fraudulent?
2) Since I imagine that this would drastically lower my credit score, would the only way to change this be to report a dispute?
3) I've been told that I should avoid all contact with the collection agency?

Statistics: Posted by rsang39 — Sep 6th, 2016 6:35 pm

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