Tag Archives: savings

How to Buy a GIC in a CIBC Investor’s Edge Self-Directed Investing Account

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I don’t particularly trust investing new money in bonds right now when interest rates could rise and the value of bonds and bond funds could drop significantly and quickly. So for the fixed income portion of our portfolio I’m investing partially in GICs. While the rates are abysmal at least the principal is safe. (Yes, I know it’s being eroded by inflation. I take a “balanced yield” approach which I need to explain elsewhere on this site.) So recently I decided to buy a GIC in a CIBC Investor’s Edge account. Here’s how.

How To Purchase a Guaranteed Investment Certificate from Investor’s Edge

  1. Go to https://www.investorsedge.cibc.com/ie/index.html
  2. In the User ID field, type your id.
    In the Password filed, type your password.
    Click on the Sign On button.
  3. From the menu on the left side of the screen, click on Trading.
    Then click on Buy GICs.
  4. Take a quick look at the GICs offered by CIBC. Usually they are not very attractive. For example, today, none of them yielded more than 1.25% for a 1 year term.
  5. Click on the Third-Party GICs tab.
    At first it looks like no 1-year term GICs are offered. That’s because the Interest Paid: At Maturity option is selected.
    Click on Annually to see the rates for 1-year terms.
    Today, the highest rate offered is by Equitable Trust. It’s offering a 1-year term to maturity with a 1.7% rate. (I’ve mentioned before in Comparing GIC Rates for BMO InvestorLine and CIBC Investor’s Edge that unfortunately CIBC does not offer GICs from Home Trust. Today Home Trust is offering a rate of Continue reading →

How to Cancel a Tangerine (ING Direct) Automatic Savings Program (ASP)

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Recently, I wanted to stop making automatic contributions to my Tangerine, formerly ING Direct, savings account using their ASP Automatic Savings Program. I thought cancelling the contributions would be easy, but it wasn’t: That’s because I’m an idiot.

I misunderstood the purpose of one of the buttons on the screen. In case it’s not immediately clear to anyone else, here are the instructions for how to cancel a monthly transfer from another bank to Tangerine.

  1. Log in to your Tangerine Account.
  2. From the list on the left side of the screen, click on
    View my accounts, then
    click on the account in which the Automatic Savings are being deposited.
  3. From the left side of the screen, click on Pending Transactions.
  4. If the desired pending automatic savings program transfer is listed, click on the Pencil button beside the listing.
  5. Click on the Delete button.
    This is where I was stupid. I thought Continue reading →