2% tax on CD's interest rates ?

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Member since 02 February 2012

FromMontrealWithLoveActive member05 June 2012 13:24:33

Is anyone familiar with a 2% ''Finance Performance Tax'' collected at the end of a CD term ? This appeared in small print on a cooperativa web site. Was never mentionned to me when I was shopping for rates! Thanks

3lckr Serial expat

Member since 28 November 2010

3lckrSerial expat06 June 2012 14:02:09

204

Nope, my CD's matured and I was given a choice of withdrawal or renewal, some I withdrew, no other charges occurred. I'd stay away from cooperativas, maybe they give you a little higher rate, but for me they all have a face of that "friendly" neighbor that borrows 5 bucks and then gives mañana for a year... just my opinion.

FromMontrealWithLove Active member

Member since 02 February 2012

FromMontrealWithLoveActive member06 June 2012 16:17:54

Thank you 3lckr. Was your CD with a cooperativa? Which one? Mitri

3lckr Serial expat

Member since 28 November 2010

3lckrSerial expat06 June 2012 20:25:31

204

No, I've had CD's in big banks: Pichincha, Pacifico etc., only each kept under 20K for safety.

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