Interest on Cash

[mranski]

TD Waterhouse surprised me by offering 1.3% on my cash balance. I was getting money market rates or nothing so this seems decent. Do others get more or less interest on their cash balances?

 

 

[Liberty]

  On 4/11/2012 at 6:00 PM, mranski said:

TD Waterhouse surprised me by offering 1.3% on my cash balance. I was getting money market rates or nothing so this seems decent. Do others get more or less interest on their cash balances?

 

I'm also with TDW, but never noticed interest on my cash (not that I have much). Where do you see that, at the end of the month in "activity" or somewhere else?

[mranski]

You have to place it into an invest savings acct. But it is redeemable online before settlement , i think one day. And it is not separate from your waterhouse account. Mine is high interest acct, i have alot of cash, but i don't know what their threshold is between high interest and regular interest. 

 

 

[rijk]

does the 1.3% go with automatic sweeping between your (margin) account and your cash account?

 

regards

rijk

 

[mranski]

it is all one account, cash, not margin . interest can get reinvested or not, by choice. other cash doesn't get automatically put in to the interest savings account if that is what you are asking.

 

interestingly, it is manulife (within TD) that has the 1.3% account, TD's is 1.25.

 

 

[hyten1]

mranski

 

hmm i can't seem to find this in td waterhouse, were can you get 1.3%?

 

hy

[mranski]

they allow you to take the cash in your regular investment account, and put it in an investment savings account vehicle in the same account, it shows up like a stock or mutual fund.