From time to time, this advisory offers tips on how to “boost your returns above the posted rates, by negotiating, or through bonuses for re-upping at the same institution, or by switching to a new institution if that’s what is called for.” The objective is always to get the best rate possible on your cash.
One tip for getting these rates, however, fell off the radar – perhaps because it was one of those basic bits of information often left unspoken. A subscriber wrote in, asking if he could get the same great rates quoted in this advisory in his region of the province. The subscriber didn’t have branch access in his area to the specific bank mentioned: Pacific & Western Bank of Canada. He assumed the rates mentioned weren’t available to him. “So let’s clear this up right here,” says this advisory.
It’s not necessary to have branches of the institutions offering high rates in your town. As a matter of fact, “most of them don’t even have bricks-and-mortar branches, anywhere, in the traditional sense.” In a world of internet banking and cashless transactions, “anyone can access a rate from any institution by phoning the company offering that rate.”
So here’s the straight dope: don’t worry if you can’t find a branch in your area; there may, in fact, be no branches to be found anywhere. Get in touch by phone and let the firm take care of the rest.
133 Richmond St. W., Toronto, Ont., M5H 3M8
(800)-804-8846, $227 a year.