Hello All
I will receive CAD 13,846 from my father soon as a gift and I have only one salary a/c which is savings in nature. I use the a/c frequently, therefore there are lot of transactions in every month although they do not cross CAD 500 (adding all the monthly transactions). My concern is that should I put the money which I'll get from my father in my salary a/c or should I open a Fixed Deposit a/c with the same bank?
I'm pretty much sure that I can maintain the minimum fund requirement (CAD 12,475) at all times.
Please advise.
I will receive CAD 13,846 from my father soon as a gift and I have only one salary a/c which is savings in nature. I use the a/c frequently, therefore there are lot of transactions in every month although they do not cross CAD 500 (adding all the monthly transactions). My concern is that should I put the money which I'll get from my father in my salary a/c or should I open a Fixed Deposit a/c with the same bank?
I'm pretty much sure that I can maintain the minimum fund requirement (CAD 12,475) at all times.
Please advise.