Simplii pays 3% for the next ~3 months. That's 0.5% more than others. On $40k for 3 months that's ~$50. The hassle of opening accounts with Simplii, EQB and TANG so you can move money around may not be worth it to some people for that amount. OTOH there are lengthy threads on RFD about how to save $5 or $10. So it's a personal choice that depends on how much effort you're willing to make to save some money.MrFantabulous wrote: ↑Nov 11th, 2017 1:00 pmI'm curious about you guys who chase teaser interest rates on savings accounts. Say I have 40K which I need to be able to access fairly quickly . . is it worth the trouble to move it around every 3 months to chase the latest, highest teaser rate? Or should I just put it into something like WealthOne Canada or EQ Bank which have consistant rates of 2.5 to 2.3 which are NOT temporary teaser rates.
Note also that for someone with significantly more money to park in a HISA, say the $400k proceeds of a house sale, an extra $500 over 3 months is worth an hour's effort to open an additional account at Simplii.