If you are a Canadian investor you are highly recommended to get registered at the official site of Canada Saving Bonds (CSB). This site has been built up with a tendency to provide all the necessary information to the Canadian investors regarding the current rates, form, calculators and all other financial details. Basically, Bank of Canada and Government of Canada has issued an investment instruments for the potential investors in the form of debentures which is technically termed as Canada Saving Bonds.
The investors and the owners of this service can access a wide range of online services from the official site. These services are made available to both the Payroll Plan Participant and the purchaser of the certified bonds. Registration process is really easy and convenient and is completed in a few minutes irrespective of whether you are an existing or new Payroll Plan participant or the purchaser of certified bonds.
Required Materials For Registration:
To get registered with online services, you will need to prepare the following:
- Plan Number, Contribution Amount, Direct Deposit Information and valid email address if you are an existing payroll plan participant.
- Employer’s Organization ID, SIN (Social Insurance Number) and valid email address if you are a new Payroll participant.
How To Register For Online Services?
In order to get registered with online services, you will need to follow some steps which can be presented below:
- Go to the site mybonds.gc.ca.
- Select your language. Click on “Welcome”.
- You’ll be directed to its login page. Click on “Register.”
- Click on either “Existing Payroll Plan Owner” or “New Payroll Participant” link depending upon your criteria.
- You have to provide name and plan number information.
- Provide all the necessary details. Read carefully and tick to accept agreement and submit your application to have your registration process completed.
Pros And Cons:
Some of the major advantages can be listed in the following points:
- Easy to access online services.
- Easy to navigate the site.
- Friendly customer service.
- Backed by full faith of Government of Canada as well as Bank of Canada.
- Offers most guaranteed investment instrument.
Besides, it has some cons as well which can be listed below:
- Poor paying investment.
- Penalties for early redemption.
- Website not compatible to all systems.
Overall, it is a great tool for the investors. Once you get registered, you will be accessed to various online services such as purchasing certified bonds, exchange of bonds, change of ownership, payments of multiple interest and so on. So, this is a highly recommended online service for all the potential Canadian investors.