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  5. PSA: fyi Question was asked where to park cash for short periods that is readily available. [Purpose High Interest Savings ETF]
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Q: fyi
Question was asked where to park cash for short periods that is readily available. You suggested PSA ETF. Looked this up and I think the yield is .57%. EQ Bank (virtual) currently pays 1.25% calculated daily and is CDIC backed. Money can be transferred between EQ and your bank at any time (up to 3 days to clear). There are other high interest savings opportunities but for the past while, EQ has paid the highest rate.

Asked by john on November 22, 2021
5i Research Answer:

Certainly bank alternatives and GICs will pay more. The question referenced cash within a brokerage account, so we suggested PSA for something within that account without a transfer needed.