please help money from odsp!! !

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DizzleJWizzle
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29 Oct 2013, 7:36 pm

how to change trustee of money!! !

my 600 dollars of money is left in a bank that can steal it
this is my odsp
total of 700 dollars a month
interest is low...

i don't a cyprus style situation with the rest of my money
i don't see the point of retirement money being stolen by the bankers
canada's banking laws have changed
and my parents won't let me take it out.

see the amount that will be gone ... i guess the amount is 600 dollars times 24 months. this equals 14400 dollars gone..
i don't trust banks period.. all my money is in one basket (the egg situation)
very afraid that they won't listen and i will lose all that cash...

i'm over 21 years old... turning 22 next year.



Toy_Soldier
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29 Oct 2013, 7:59 pm

I am not very familiar with the Canadian system, but I would really be very surprised if your money is not safe from theft in a savings account in established bank. Bottom line is that there isn't actually any safer option that I am aware of. If the bank by chance ever failed, up to $100,000.00 is insured by your Canada Deposit Insurance Corporation CDIC. So I think you may be worrying more then you need to in this case.



DizzleJWizzle
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29 Oct 2013, 8:18 pm

doesn't matter the fact is that the interest is low.. and they can bypass those rules you put your cash in the hands of the criminal banking elite...
your cash = capital for the failing banks
lessons need to be taught period.

i know my parents won't listen and afraid that my savings will be lost...
:evil:

bankers won't stop they will hit all accounts just watch.



Flyer
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30 Oct 2013, 1:28 am

DizzleJWizzle wrote:
i don't a cyprus style situation with the rest of my money

What do you mean by that?
Toy_Soldier wrote:
If the bank by chance ever failed, up to $100,000.00 is insured by your Canada Deposit Insurance Corporation CDIC.

That's what happened in Cyprus. All accounts of up to 100k were insured and transferred to a different bank. I know because I had this happen to me in 2011. Actually, I prefer risky banks and small credit unions due to smaller fees and larger interest rates.