piggy bank with dollar bills, on yellow background, savings concept


Strong CDN-USD Yields New Opportunity for Advisors

For those Canadians looking to move their savings into U.S. dollars, now is the time to jump on the opportunity. The Canadian dollar has gained considerably in the past year, with its trajectory placing it among the strongest currencies of 2021. It’s only expected to climb further against the greenback on recent economic momentum that has helped fuel the loonie, including the Bank of Canada’s suggestion that it could raise rates as early as 2022.

In light of this – and as traditional risk-free assets like Treasury bonds continue to underwhelm1 – Financial Advisors need a path to realize more from their clients’ savings and earn a competitive return on USD cash. It’s a timely opportunity to optimize wealth with a safe haven that may actually keep money growing.

Our Equitable Bank U.S. HISA, which is available through fundserv, offers an unmatched solution for Financial Advisors who are looking to provide a competitive yield, flexibility and safety on USD deposits. With a 1% F Series promotional rate2 compared to a 0.33% industry average* HISA rate, Canadians can rest easy knowing they’re getting more from their dollars, all the while protected by the Canada Deposit Insurance Corporation (CDIC) under new eligibility criteria covering foreign currency accounts passed in 2020 (for more detailed information, visit the CDIC website).3

Source: Bloomberg as of April 30, 2021.

Never Leave Cash Earning Zero: Equitable Bank’s U.S. HISA

With the Equitable Bank U.S. HISA, Financial Advisors can put clients’ USD to work with competitive A & F series rates (0.85%  Series A; 1% Series F)2 for both individual and small business clients. Add to this, the account has no locked-in periods or maturity dates, and an unlimited number of transactions. Clients can grow their savings, and access their USD cash when it’s needed.

Fund Codes Personal Corporate
Series A EQB1100 EQB1102
Series F EQB1101 EQB1103

Our U.S. HISA is also offered by two issuers, Equitable Bank and Equitable Trust4, which are both members of CDIC, so eligible deposits held in each entity are protected separately.

Client Suitability:

  • Investors with idle USD cash to deploy
  • Snowbirds with real estate or assets in the U.S.
  • Business owners with U.S. customers and/or suppliers

Financial Advisors can access our U.S. HISA through investment dealers on the fundserv network.

Learn more about Equitable Bank, and our new Advisor series U.S. HISA.For more effective tools and strategies to enrich your practice, or to find out whether the Equitable Bank U.S. HISA is right for your client, contact us at wealthsolutions@eqbank.ca

About Equitable Bank Wealth Solutions

Equitable Bank offers a suite of solutions tailored to individual clients’ financial needs, for every stage in life. From a wide range of Canadian and U.S. dollar deposit products, including short- and long-term GICs, one-year cashable GICs, and high interest savings accounts, to asset decumulation through reverse mortgages and CSV lines of credit, Equitable helps investor clients reduce portfolio volatility, grow savings, and find solutions that work for them.

Email us to learn more about Equitable Bank’s diverse wealth solutions.

Damon Knights

Vice President, Sales and Distribution, Personal Banking

Tim Holley

National Accounts Manager

Delano Ferguson

Internal BDM

Danielle Pears

Internal BDM

Christelle Nguidjoï

Bilingual Internal BDM

1 Three-month and two-year U.S. Treasury Bonds yields of 0.01% and 0.16%. Bloomberg, as of April 30, 2021.
2 Promotional rate period ends December 31, 2021. Rates are per annum, and subject to change at any time and without notice. Interest is calculated daily on the closing balance, and paid monthly as reinvested distributions. *Industry average calculated on May 14, 2021 from Personal USD Class F HISA rates, among 8 Canadian competitor banks.
3 Deposits became eligible for CDIC coverage on April 30th, 2020. Please visit the CDIC website for more details.
4 All HISAs are offered by Equitable Bank, and its wholly owned subsidiary, Equitable Trust. Both issuers are members of the Canada Deposit Insurance Corporation (CDIC), so eligible deposits held in each entity are protected separately, up to applicable CDIC limits and policies. Please visit the CDIC website for more details.