Personal Finance

[Merged] Meridian 3.15% for 6 months HISA

  • Last Updated:
  • Dec 4th, 2018 11:04 pm
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Newbie
Sep 4, 2013
25 posts
28 upvotes
Ingersoll
Platypus wrote: Is this limit for transfer in or out?
I asked for transfering $ in from Tangerine or CIBC, (the external accounts I have to wait the approx. 3 days for them to link), they said limit was 10k, but you could do larger amounts you just had to contact them first. I never asked if it was the same for out, and they didnt say, but you would think they would have said something if was different.
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Deal Fanatic
Jul 7, 2004
6948 posts
2695 upvotes
Tangerine lead with 2.75%, then recently RBC came out with 3.0%. Now 3.15%. Pretty interesting.
Deal Addict
User avatar
Dec 31, 2005
1156 posts
886 upvotes
Waterloo
dillybravo wrote: Anyone know if they do a hard hit for opening just a savings account?
Opened one on Saturday. Was told it was a soft hit.
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Member
Jan 29, 2008
465 posts
69 upvotes
baz5 wrote: Tangerine lead with 2.75%, then recently RBC came out with 3.0%. Now 3.15%. Pretty interesting.
Duca is currently leading at 3.25% for 3 months. Actually HSBC is 3.50% for 2 months but it looks like there’s some hoops to go through. DUCA stacked with this one (after 3 months) looks like the current best set up in my opinion. I just signed up for Duca last week and it’s been smooth so far. Next up, Meridian.
Here for a solid deal
Banned
Sep 21, 2018
55 posts
14 upvotes
ffonly wrote: Actually it says it can be open in minutes. The 3-5 business days is for an account link to an external bank and that has the 10k limit per day
Is the $ 10 K limit per day both ways? Say I want to deposit from Tangerine, can I deposit more than $ 10 K per day?

Withdrawal limit, I can understand, but deposit limit is weird. They can maybe hold funds for 5 days, when you deposit to make sure they are legit and then clear the funds, but pay interest right from day 1.
Deal Addict
Sep 1, 2007
2909 posts
2565 upvotes
Surrey
Jeffbozos wrote: Is the $ 10 K limit per day both ways? Say I want to deposit from Tangerine, can I deposit more than $ 10 K per day?

Withdrawal limit, I can understand, but deposit limit is weird. They can maybe hold funds for 5 days, when you deposit to make sure they are legit and then clear the funds, but pay interest right from day 1.
I don't know. I find the limit strange too since you can make an e-check deposit for much more. I don't even think there is a limit on the check deposit
Sr. Member
Aug 15, 2003
744 posts
523 upvotes
Jeffbozos wrote: Is the $ 10 K limit per day both ways? Say I want to deposit from Tangerine, can I deposit more than $ 10 K per day?

Withdrawal limit, I can understand, but deposit limit is weird. They can maybe hold funds for 5 days, when you deposit to make sure they are legit and then clear the funds, but pay interest right from day 1.
10K limit is just for the account linking, I believe. Either way if you do a push from Tangerine, etc. can do whatever amount you want.
Deal Addict
Sep 1, 2007
2909 posts
2565 upvotes
Surrey
ben35 wrote: Couldn't find if the $250K DICO deposit insurance covers residents outside of Ontario.
found the answer on the official DICO deposit insurance site:

"If I am a member and have deposits at an Ontario credit union/caisse populaire and I subsequently move out of province, are my deposits still covered by DICO?
Yes. Your deposits will remain protected as long as you remain a member of an Ontario credit union/caisse populaire."

You can find other questions/answers about DICO Insurance here:
https://www.dico.com/design/3_11_Eng.ht ... re-covered
Newbie
Jan 24, 2008
82 posts
276 upvotes
Etobicoke
Is it possible to link from Tangerine directly to Meridian HISA or do you also need a Meridian Chequing account for linking?
Deal Guru
Aug 5, 2006
10746 posts
7905 upvotes
Global Village
pawcio wrote: Is it possible to link from Tangerine directly to Meridian HISA or do you also need a Meridian Chequing account for linking?
Yup, I have my Tangerine savings account linked directly to my Meridian savings account.
All day I dream about sports

Tangerine, Meridian, EQ Bank, Simplii, CIBC Investor's Edge
Sr. Member
Mar 14, 2009
615 posts
984 upvotes
Halifax
scoper wrote: Yup, I have my Tangerine savings account linked directly to my Meridian savings account.
As in, you setup the link from the Tangerine side and can "pull" money from Meridian to Tangerine?
peli33 wrote: You can link from your external account (tang, EQ,...) to Meridian by providing Transit, Constitution and Account numbers. This info is available from within your meridian account.
Same question here.. I can't get a clear answer from their call centre whether transfers initiated from other institutions will be approved because it does say 'no preauthorized debits' allowed on this account..
Deal Guru
Aug 5, 2006
10746 posts
7905 upvotes
Global Village
dillybravo wrote: As in, you setup the link from the Tangerine side and can "pull" money from Meridian to Tangerine?



Same question here.. I can't get a clear answer from their call centre whether transfers initiated from other institutions will be approved because it does say 'no preauthorized debits' allowed on this account..
Yes. You can pull and push to them from Tangerine.
All day I dream about sports

Tangerine, Meridian, EQ Bank, Simplii, CIBC Investor's Edge
Deal Expert
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May 8, 2009
15560 posts
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Going to the Moon
pawcio wrote: Is it possible to link from Tangerine directly to Meridian HISA or do you also need a Meridian Chequing account for linking?
dillybravo wrote: As in, you setup the link from the Tangerine side and can "pull" money from Meridian to Tangerine?
Same question here.. I can't get a clear answer from their call centre whether transfers initiated from other institutions will be approved because it does say 'no preauthorized debits' allowed on this account..
scoper wrote: Yes. You can pull and push to them from Tangerine.
Guys, no need to make a PF "deal" thread all about how to "me to me" transfer.

There's already a thread dedicated to that.

But to answer...you can push and pull via "me to me" (external accounts) with Tang, Meridian and the likes. If you push, then the receiving account won't hold the funds (except for certain FI's, such as Achieva/Cambrian, Hubert and a few others). For pulling, entire amount will be on hold (but will earn interest) for 5+ business days depending on the FI, UNLESS you have deposit limits. With Simplii, you can periodically request increased deposit limits (caps at $5k) and they'll approve based on internal history. Tangerine there's no need to ask, they'll automatically grant the increases over time with usage.

+1 to DUCA's promo. I have HISA $$ in DUCA now. Will push to SCU TFSA at end November since I don't know what will happen afterwards.
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Newbie
Sep 4, 2013
25 posts
28 upvotes
Ingersoll
Follow up fyi. Email I received today from Meridian.

"Please accept this message as confirmation that your Money Mover Transfer Service is now active and ready to use. Please note that transferring funds between external accounts will take up to three business days to be completed. Any transfers to another financial institution scheduled to take place in the future must be set up more than three business days before the start date. Funds set to be transferred at a future date must be in your account at least three days prior to the transfer.

Additionally, there is a $10,000 daily limit for Money Mover transfers. If you do wish to transfer more than this daily limit, please call our Contact Centre directly at 1-866-592-2226 and one of our Representatives would be pleased to assist you. "
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Banned
Apr 21, 2018
128 posts
23 upvotes
I'm on the west coast, never heard of a Meridian. I am guessing they are safe/legit, similar to tangerine?
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May 8, 2009
15560 posts
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Going to the Moon
BostonM wrote: I'm on the west coast, never heard of a Meridian. I am guessing they are safe/legit, similar to tangerine?
Safer than Tangerine I'd say. They won't troll you for me to me transfers.
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Banned
Apr 21, 2018
128 posts
23 upvotes
titaniumtux wrote: Safer than Tangerine I'd say. They won't troll you for me to me transfers.
How about the dico vs cdic thing?
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May 8, 2009
15560 posts
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Going to the Moon
BostonM wrote: How about the dico vs cdic thing?
You think Ontario is any more likely to default than Canada as a whole? No offense, but Ontario is nearly half of Canada in population, so if Ontario defaults, Canada's in deep waters and CDIC probably won't matter.

DICO insures up to $250k, so somewhat better than CDIC.
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Deal Guru
Aug 5, 2006
10746 posts
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Global Village
titaniumtux wrote: Safer than Tangerine I'd say. They won't troll you for me to me transfers.
Safer based on what? Tangerine has ~$38 billion in assets and they are owned by Scotiabank who has ~$915 billion in assets. Meridian has ~$17 billion in assets managed with much higher costs invested in retail branches.
All day I dream about sports

Tangerine, Meridian, EQ Bank, Simplii, CIBC Investor's Edge
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May 8, 2009
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Going to the Moon
scoper wrote: Safer based on what? Tangerine has ~$38 billion in assets and they are owned by Scotiabank who has ~$915 billion in assets. Meridian has ~$17 billion in assets managed with much higher costs invested in retail branches.
Isn't a PIN easier to hack than a password? I think it'd be easier for hackers to get into Tang accounts.
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