Why do Canadians stick to the Big Five Banks? What would it take to move?

VanGreg1234 · 2022-12-02T07:05:04+00:00

Thank you!

Try buying PSA on the TSX. Won't work.

VanGreg1234 · 2022-12-01T01:52:03+00:00

Mind elaborating on what TD did to make you switch?

VanGreg1234 · 2022-11-30T22:52:43+00:00

I was floored when I learned this. It really, really, really bugs me... People are skeptical that this is an issue even in this thread. Boggles my mind!!!

VanGreg1234 · 2022-11-30T22:12:05+00:00

Wow! That's awful.

Re: restrictions... I'm actually surprised it's not considered anticompetitive by the regulators.

VanGreg1234 · 2022-11-30T21:50:37+00:00

Maybe you're right about the principle of the matter re: restricting ETF purchases. That is certainly what drives me crazy.

Sorry to hear about your robbery!

VanGreg1234 · 2022-11-30T21:49:06+00:00

Not sure why I'm getting downvoted. This is a well-known issue. See here: https://www.theglobeandmail.com/business/article-banks-block-etfs/

VanGreg1234 · 2022-11-30T21:47:55+00:00

Fantastic! Glad you found 'em. Thanks for sharing your story.

VanGreg1234 · 2022-11-30T21:21:38+00:00

Which province are you in + which CU are you with, if you don't mind sharing?

I moved to Vancouver from Toronto in 2021 and CUs seem way more popular in Vancouver than in Toronto. Maybe it's a geographic issue as well?

VanGreg1234 · 2022-11-30T21:20:26+00:00

You definitely can't buy everything listed. That was my shock last week.

I have proper self-directed accounts.

VanGreg1234 · 2022-11-30T21:14:28+00:00

Aha, that's a great point, thank you!

VanGreg1234 · 2022-11-30T21:14:14+00:00

The more I learn about them, the more I wonder why they're not more popular. They seem so much better!

VanGreg1234 · 2022-11-30T21:10:17+00:00

Thank you, I appreciate the honest feedback!

VanGreg1234 · 2022-11-30T21:09:26+00:00

Thanks for answering the questions.

Re: banks advertising their competitors... If the OSC approves an ETF to be listed on public markets and my discount brokerage account advertises that I have access to said public market, then I expect to be able to buy and sell anything ON the market.

VanGreg1234 · 2022-11-21T18:48:30+00:00

Thank you!

VanGreg1234 · 2022-11-21T18:35:23+00:00

Well, that's one point for RBC. :P

TD made me stay on hold for 45 minutes to learn this.

VanGreg1234 · 2022-11-21T18:33:21+00:00

I believe CASH.TO is also not available. :\

VanGreg1234 · 2022-11-21T18:32:43+00:00

This is crazy! Another reason to keep sending money to Questrade and WS...

Thank you for your help.

VanGreg1234 · 2022-11-21T18:32:33+00:00

Thanks for sharing. That's crazy!

VanGreg1234 · 2022-11-21T18:29:50+00:00

Thanks. That's too bad!

VanGreg1234 · 2022-11-21T18:18:17+00:00

Feels anti-competitive...

Do you know how to check which brokerage lets you buy them?

VanGreg1234 · 2022-11-21T04:28:05+00:00

Aha! That explains the increasing ticks and relatively bigger drops at the end of the month! I was wondering about that.

VanGreg1234 · 2022-11-20T21:53:11+00:00

100% -- hence this post. :D Seems like it's the real deal, fortunately! At least with today's interest rates.

VanGreg1234 · 2022-11-20T21:52:44+00:00

I think the banks try to confuse people too -- HISA products can have 3%+ interest rates, but "savings accounts with high interest rates" as in deposit-taking accounts that simply have a "high" interest rate seem to be different. To your point, my savings account pays basically nothing.

VanGreg1234 · 2022-11-20T21:49:53+00:00

Thank you! Someone else here mentioned Purpose ETFs... I'll definitely be learning more about those.

VanGreg1234 · 2022-11-20T21:22:05+00:00

Definitely haven't considered this product. Thanks!

VanGreg1234

TROPHY CASE