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What is up, PC Financial?

Dear PC Financial,

For several years now, at your recommendation, I have been depositing $50 a month into an Interest Plus RRSP account. I have not moved the funds into investments, because I was not aware of this option, and you have never promoted it to me. Fine.

At the end of 2008 I decided to change my strategy and deposit schedule for this account. I cancelled my automatic payments, with the intention of depositing weekly. I did not make a deposit in September and made only one $10 deposit in October. In November I make three weekly deposits of $10, $10, and $12. In December I made two deposits of $15 and $48. This brings my 2008 deposit total to

January to August (@$50/month) $400
October $10
November $32
December $63
With a combined total of $505.

This past weekend I was going to file my taxes. I pulled out all my little slips of paper, and noticed for the first time that my 2008 RSP statement has a total of $453.02. What is up with the .02?

I have been on hold for about fifteen minutes now, and I would like to have new paperwork issued before I file my taxes.

As well, last year I received a T5 for Investment Income in the amount of $119.65. I assumed this was for interest earned in my RRSP account. However this year I did not receive one of these forms. Should I? Or should I not have last year?

I hope we can clear this up today, so that I can go ahead and file my taxes. I do not want to be held up by your errors and inconsistencies.

I have been flirting with another online bank. It would be a shame to have to make the switch after nine years of banking with you, but it is definately a consideration.



  1. You should not receive a T5 for income earned within your RRSP - the income is not taxable. Could it be from a non-registered account?

  2. It turned out it was from a GIC that cashed out in January 2007. The GIC I bought in 2008 is sheltered by RRSP. I'm learning, slowly!


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