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Tag Archives: AAT770

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What Can I Do with the Cash in the US Dollar Side of my Portfolio at BMO InvestorLine?

Posted on 2017 09 30 by BetCrooks

Sometimes you don’t see anything you want to invest in for the US dollar side of your portfolio. Meanwhile, dividends and distributions keep rolling in and you start accumulating a stash of US cash. That’s been happening this year for me in my RRSP so I thought I’d better look at getting the best possible return for my US dollars while waiting to make an investment decision. Here’s how I parked my US dollar cash in a high interest savings account mutual fund at BMO InvestorLine.

What Fixed Income Investments Could I Park My US Dollars In at BMO InvestorLine?

There are two basic fixed investments commonly used for parking cash for the short term in a BMO InvestorLine account: cashable GICs and high interest ( ! their name not mine!) savings accounts.

High Interest Savings Accounts at BMO InvestorLine

BMO InvestorLine only offers two pseudo-high interest savings accounts, one in US dollars and one in Canadian dollars. They are actually run like mutual funds but with no fee to buy or sell units and no required minimum holding time.

The US dollar fund is called AAT780. You have to buy at least $1000 USD units of the fund initially. For subsequent purchases, you can invest in $50 USD increments.

Cashable GICs at BMO InvestorLine

At the time I wrote this, September 26 2017, InvestorLine was not offering any cashable GICs in USD online. I suspect if you had a very large amount of cash and phoned in, though, you could probably arrange something. Given the current low rates for cashable GICs, though, it may be just as beneficial to put the money in a HISA.

Be Aware: US Dollar Savings are NOT Insured by CDIC!

Just as a public service, I’d like to remind readers that CDIC does not insure deposits held in foreign currencies, which includes US dollars. If something goes terribly, terribly wrong with the financial institution holding your US dollar assets, you may lose the money. Check before investing whether any other kind of assurance or insurance is provided for your savings.

What Are AAT770 and AAT780 Paying for CAD and USD Deposits at BMO InvestorLine?

Today, October 3 2017,

  • AAT780 the USD high interest savings account is paying an annual rate of 0.50%.
  • AAT770 the CAD high interest savings account is paying an annual rate of 0.95%.

That’s the influence of the recent increases in the federal prime rate.

Related Reading

  • How to Buy Units in AAT770 in a BMO InvestorLine Account

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Posted in InvestorLine, Self Directed Investing | Tagged AAT770, AAT780, BMO InvestorLine, cash, fixed, high interest savings account, HISA, US dollar

With the Drop in the Overnight Rate, What Interest Rate Can I Get On my Cash in my Brokerage Account?

Posted on 2015 01 27 by BetCrooks

Canadian self-directed brokerage accounts do not pay you any interest on your cash holdings. Most, however, do let you park your cash in units of a mutual fund that acts like a daily interest savings account. These accounts may have high minimum deposit requirements and pay a conservative rate. When the Canadian overnight rate dropped to 0.75% this month, what happened to the daily interest rate for funds held in brokerage accounts?

BMO InvestorLine AAT770

Canadian cash can be held in units of AAT770 at BMO InvestorLine. The kicker is Continue reading →

Posted in Edge, Finances, InvestorLine, Money Tips, RBCDI, Self Directed Investing | Tagged AAT770, ATL5000, BMO InvestorLine, CIBC Investor's Edge, daily interest savings accounts, DIrect Investing, high interest savings account, HISA, Investor's Edge, InvestorLine, RBC Direct Investing, RBCDI, RBF2010, savings, Scotia iTrade, TD Direct Investing, TDB8150

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