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Equitable Bank Launches U.S. High Interest Savings Account (Advisor Series) ahead of the expansion of CDIC deposit insurance coverage
Equitable Bank Launches U.S. High Interest Savings Account (Advisor Series) ahead of the e...
About this update from Eqb Inc
[{"type":"text","content":"\n\n\n\nEquitable Bank Launches U.S. High Interest Savings Account (Advisor Series) ahead of the expansion of CDIC deposit insurance coverage\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 27, 2020\n\n\n\nAt 0.50%1 per annum (Series A) / 0.75%1 per annum (Series F), Canadian investors can generate enhanced yield on their USD cash balances\n TORONTO, April 27, 2020 /CNW/ - Equitable Bank, a wholly owned subsidiary of Equitable Group Inc. (TSX: EQB and EQB.PR.C), today announced it has launched the Equitable Bank U.S. High Interest Savings Account2 (HISA), providing a new competitive USD cash alternative for Investment Advisors and Financial Planners to offer their clients. \n\n \n \n \n \n \n \n\n \nThis new U.S. savings account comes ahead of the expansion of deposit insurance coverage announced by Canada Deposit Insurance Corporation (CDIC).  As of April 30, 2020, eligible deposits held in foreign currencies at member institutions will be covered for CDIC insurance. Until April 29, 2020, existing coverage rules apply. For more information, visit https://www.cdic.ca/your-coverage/. \n\"Our U.S. HISA is designed to help Canadians put their U.S. savings to work,\" said Damon Knights, Senior Director, Deposit Services, Equitable Bank. \"For snowbirds, investors and small businesses alike, we ensure U.S. cash balances are always earning a safe, reliable return while remaining easily accessible.\"\nInvestors can access the new Equitable Bank U.S. High Interest Savings Account for non-registered and registered plans through select wealth management dealer firms on the fundserv network. It comes with an unlimited number of withdrawals and deposits, as well as no lock-in periods or maturity dates, for maximum flexibility and ease-of-use.\n\"At Equitable, we are always looking for areas where Canadians have been underserved in their banking needs,\" said Andrew Moor, President and Chief Executive Officer of Equitable Bank. \"We're on a mission to simplify the banking experience and g...