Cash.to showing 3.72% rate anyone using it?

Personal Finance Canada Forum
1

cash.to has a 3.72% annualized yield right now (minus the 0.11% MER). if wealthsimple offers 3.75%, is there any real reason to stick with cash.to? maybe if you’re holding it in a tax-sheltered account?

2

MER is already part of the distributions.

3

you can’t keep wealthsimple savings in a TFSA, so that’s the main reason for using CASH.TO.

4

Fable said:
you can’t keep wealthsimple savings in a TFSA, so that’s the main reason for using CASH.TO.

doesn’t CBIL have a higher yield than CASH? (i think people like the name CASH more)

5

@Derry
CBIL is currently at 3.6%, and CASH is at 3.72% as per the latest on the Global X site.

6

Fable said:
you can’t keep wealthsimple savings in a TFSA, so that’s the main reason for using CASH.TO.

you can ask support to create their HISP in a TFSA though.

7

Reilly said:

Fable said:
you can’t keep wealthsimple savings in a TFSA, so that’s the main reason for using CASH.TO.

you can ask support to create their HISP in a TFSA though.

that’s more hassle than just buying cash.to.

8

@Chelsea
yep… for just 0.03% more a year.

9

Reilly said:

Fable said:
you can’t keep wealthsimple savings in a TFSA, so that’s the main reason for using CASH.TO.

you can ask support to create their HISP in a TFSA though.

can you really? any docs on that? seems odd they wouldn’t make it standard.

10

even with rate drops, the difference between cash.to and wealthsimple cash isn’t huge. i’m staying with cash.to until i need the money for a house downpayment.

11

Raine said:
even with rate drops, the difference between cash.to and wealthsimple cash isn’t huge. i’m staying with cash.to until i need the money for a house downpayment.

it’s like people stressing over 10 points on a credit score… it just doesn’t matter that much. buying an appetizer will cost you more than the difference here.

12

@Happy
got it, no extras… just water and the cheapest main dish on the menu.

13

Raj said:
@Happy
got it, no extras… just water and the cheapest main dish on the menu.

ah, look at mr. luxury, eating out at restaurants… i stick to rice and beans.

14

Vinn said:

Raj said:
@Happy
got it, no extras… just water and the cheapest main dish on the menu.

ah, look at mr. luxury, eating out at restaurants… i stick to rice and beans.

look at mr. fancy actually buying food. i go dumpster diving.

15

@Happy
gas is going up by 5 cents a liter. better idle my truck half an hour to save on a penny.

16

@Happy
$1100 a year if you had $1M in cash.to… but realistically, if you have that, you’re likely laddering GICs or in higher returns. for unregistered, it’s more like $700 due to tax on the extra $1100, which is $400.

17

Raine said:
even with rate drops, the difference between cash.to and wealthsimple cash isn’t huge. i’m staying with cash.to until i need the money for a house downpayment.

can’t believe people spend so much time deciding. pick what’s easy and enjoy your time.

18

@Ashby
spending time on a $20 difference in $100k annualized is something else.

19

Koa said:
@Ashby
spending time on a $20 difference in $100k annualized is something else.

honestly, i set up cash.to a while back and forgot it, so this reminder was helpful.

20

Koa said:
@Ashby
spending time on a $20 difference in $100k annualized is something else.

got a friend who does that. probably his accountant side kicking in.