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  • Jul 17th, 2019 4:24 pm
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Meridian CU Thread

Seems like there's no Meridian CU thread on banking. There have been discussions surrounding Meridian, and there's a thread for the Meridian CBI 4% G&G CC. I thought it'd be time for a Meridian banking thread.

Note that referral soliciting in thread is strictly against forum rules. That said, the signup bonus can be via referral. The referral offer and the offer outside a referral can be different. The $100 WB / $1k deposit seems to trend winter and summer.

  1. get a referral from someone you know
  2. sign up for a "good to grow" esavings account (HISA thread here)
  3. Deposit minimum $1k in the savings account (can e-transfer, deposit cheque, add external act upon signup for a me to me pull), after (30 days??) referrer and referee get $50. Seems like this replaces the $100 welcome bonus on $1k deposit from winter and summer 2018.

Other info:
  1. there used to be a referral program at Meridian in 2012, but was completely different (payout in a $50 prepaid MC)
  2. "Me to me" external account linking is relatively easy. Fill out their form, and include void cheque, PAD form, or e-statement (only FI I know of that will accept e-statement). Can send it to them physically in branch, via snail-mail or via secured message via online banking.
  3. Can't bill pay out of that "good to grow" savings account. Open some other HISA's that earn less interest, and get one free withdrawal per month to bill pay out of those.
  4. Only free chq account is a youth account.
  5. ATM access via debit card on The Exchange
  6. When pushing funds to an external account, you earn interest on the funds at Meridian until the day the funds are received on the receiving end.
  7. Meridian is an Ontarian CU, funds are insured by DICO, and open to all provinces (definitely QC friendly).
  8. Their direct deposit form won't suffice for linking Simplii-side. Message them for a PAD form with stamp to send to Simplii (although their DD form does depict a void cheque).
  9. They have offered promo interest on savings (HISA) to new members, but with the signup bonus being a referral, we might see more competition for musical chairs. They offer GIC promo's to new and existing members.
  10. The $1 member share is funded by them, unless you opt to fund it from your money. Afaik no advantage in putting your own loonie.
  11. Sign up online, soft pull.
  12. E-statements are quarterly - thank you @Jucius Maximus
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DUCA thread | Simplii Account Linking | Make CCTS Claim | Max on Koodo Referrals Thread
Thread Summary
Opening a Meridian CU account results in a soft credit check on Equifax.

* External account linking thread

Current and past promo threads
* $100 WB 2019 March
107 replies
Member
Mar 14, 2014
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I've had the Meridian HISA since late September, so far I would say, I'm impressed. Interest is paid out late on the evening of the last day of the month. I linked my Tangerine account for push/pulls from the Meridian side and ran a few test runs. It's odd that when I push funds from Meridian to Tangerine, its shows up within a day or two, but it's sometimes not debited from my account until a day or two after that. It's surprising that this HISA is not more popular on this site as I would go so far as to say it ranks at the top of the list of HISA available. If it means anything, I have the following HISA's, Simplii 3.15% until the 28th February and RBC HISA, (effective) 3.15% until the 31st May. Other accounts are EQ at 2.30%, dropped some funds into the 3.33% GIC until early February; awesome account as it accumulates interest daily to which you can view. I gave up on Tangerine as they don't feel like making me any offers, even after I called them before moving every cent out. I'm not prepared like some depositors and get down on my knees to beg. I still have a HISA at CIBC, however I've always been caught out on their new surprise promo's where it's new money only and a minimum of $5000.00, so that one stays at zero until the next promo. The Scotia momentum HISA is a total convoluted dog verging on being a GIC.
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+1 @flyjazz

Meridian definitely has its unique offerings and handles me to me transfers in its own way. Still waiting for my WB to become liquid. Looks like they've finally tweaked their promo's to reduce churning, so I'm glad I went through the hassle of linking the externals.
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I've been using Meridian HISA for the 3.15% interest for around a month now.
I find it strange that their savings accounts statements are quarterly, not monthly.
Also, their account linking process is a bit weird, and requires you to either scan documents for electronic submission, or go into the branch to link.

But they deliver on the interest, and their website is pretty good. I don't have much to complain about since I am only using them for savings.
What if there were no hypothetical questions?
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Jucius Maximus wrote:
Dec 2nd, 2018 12:23 am
I've been using Meridian HISA for the 3.15% interest for around a month now.
I find it strange that their savings accounts statements are quarterly, not monthly.
Also, their account linking process is a bit weird, and requires you to either scan documents for electronic submission, or go into the branch to link.

But they deliver on the interest, and their website is pretty good. I don't have much to complain about since I am only using them for savings.
Ah, the quarterly e-statements makes sense. I just thought they were slower at posting them. 🤣

The 3.15%/6 months HISA promo is definitely a good one. For existing members, they seem to only offer the 3.25%/1 yr GIC...but minimum funding of GIC of only $100.
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I will remember this customer service experience forever as a meridian cu member.
waiting in line (only 2 people ahead of me, no big deal).
When i got to the teller her computer froze while trying to complete my transaction.
She gave me a $5 tim hortons gift card for my trouble... i dont even like t.h. But the gesture was awesome.
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Yeah, @titaniumtux , I'm waiting on the Welcome bonus as well... still shows as not available. I would hope sometime this week they release it.
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thetipster wrote:
Dec 5th, 2018 11:45 pm
Yeah, @titaniumtux , I'm waiting on the Welcome bonus as well... still shows as not available. I would hope sometime this week they release it.
It should be released tomorrow, since the deposit date was Sept 07.
Today is day 90 not including the deposit date, so it should be good to go tomorrow.
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coolintheshade wrote:
Dec 6th, 2018 9:42 am
It should be released tomorrow, since the deposit date was Sept 07.
Today is day 90 not including the deposit date, so it should be good to go tomorrow.
Can't wait!
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DUCA thread | Simplii Account Linking | Make CCTS Claim | Max on Koodo Referrals Thread
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Meridien's 3.15% offer is now gone?!
For legal topics and discussions, the opinion, guidance, and thoughts provided are my own and are not considered to be legal advice, in any manner.
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angryaudifanatic wrote:
Dec 6th, 2018 11:00 am
Meridien's 3.15% offer is now gone?!
Back to $100 WB on $1k deposit.

Very strange, referral promo is $50/$50, and 3.15%/6 months.

Those ready to stash more in HISA/TFSA would benefit more from the referral offer. The $100 WB "churn outlet" is back. Never thought they'd do that.
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Mar 21, 2018
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angryaudifanatic wrote:
Dec 6th, 2018 11:00 am
Meridien's 3.15% offer is now gone?!
I got it just in time then, just got my 50$ referral today.I think getting a 100$ right away would be nice for 1k. Especially if you can find another HISA around 3%.
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summerss wrote:
Dec 6th, 2018 3:33 pm
I got it just in time then, just got my 50$ referral today.I think getting a 100$ right away would be nice for 1k. Especially if you can find another HISA around 3%.
+1

Many of us have the offer from Simplii/Tang. DUCA's just ended.

Gonna be a cold winter.
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titaniumtux wrote:
Dec 6th, 2018 5:11 pm
+1

Many of us have the offer from Simplii/Tang. DUCA's just ended.

Gonna be a cold winter.
DUCA has their end of year TFSA promo going on, if you want to take advantage of that.
I like credit unions. Proud DUCA member.
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jacnel wrote:
Dec 7th, 2018 11:27 am
DUCA has their end of year TFSA promo going on, if you want to take advantage of that.
It's an odd one. It's HISA until end of year, with scheduled transfer to TFSA on Jan 1st.
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