Personal Finance

Motus Bank ("motusbank") HISA, TFSA, and GIC rate drops

  • Last Updated:
  • Sep 15th, 2019 8:37 pm
Newbie
Jun 23, 2019
42 posts
12 upvotes
Coquitlam, BC
Why do you say Meridian is like the big 5? I currently have 3% HISA with them.
Member
Mar 16, 2018
349 posts
330 upvotes
Hamilton
willowfly09 wrote:
Sep 14th, 2019 9:09 pm
Why do you say Meridian is like the big 5? I currently have 3% HISA with them.
All of the big five banks have HISA promotions right now, as does your Meridian HSA. Like most credit unions, their base rate is competitive with other brick and mortars, but much less than online banks.
Newbie
Jun 23, 2019
42 posts
12 upvotes
Coquitlam, BC
Meridian takes way too long to clear a electronic transfer, something like 3-5 days. Other than that, I am happy with their 3% HISA. Once it ends in January, I will move it out of there.

Where do I find detailed information on the Big 5 HISA's? Are they near 3%?

The Meridian promo has ended for new clients, it is back at some low rate around 1 per cent.

I got mind a few days before they ended the promo.
Penalty Box
Dec 16, 2017
2538 posts
1019 upvotes
CND Brain & Hear…
willowfly09 wrote:
Sep 15th, 2019 1:46 am
Where do I find detailed information on the Big 5 HISA's? Are they near 3%?
Promotion on their website and stuffs. Having said that, B2B rate is 3.3% and Motive 2.8%, not much reason to look back.

Motus account I just keep as a portal.

Manulife promo rate ends soon, I'll also move out of there.
I am being targeted over Internet Relay Chat. Please help me.
Jr. Member
Jul 16, 2019
189 posts
138 upvotes
dekvitaly wrote:
Sep 15th, 2019 4:37 am
Motus account I just keep as a portal.
What do you mean by portal?

Do you mean a hub you use to transfer money between accounts that aren't directly linked? Because their long EFT times seem to make it a poor choice for that.

I like Motus, but I haven't found a reason to use it for anything lately.
Member
Mar 16, 2018
349 posts
330 upvotes
Hamilton
willowfly09 wrote:
Sep 15th, 2019 1:46 am
Meridian takes way too long to clear a electronic transfer, something like 3-5 days. Other than that, I am happy with their 3% HISA. Once it ends in January, I will move it out of there.

Where do I find detailed information on the Big 5 HISA's? Are they near 3%?

The Meridian promo has ended for new clients, it is back at some low rate around 1 per cent.

I got mind a few days before they ended the promo.
Scotia has a 3% promo and Tangerine + BMO are both at 2.75% promo. Ratehub and https://www.highinterestsavings.ca/chart/ are good references.
Newbie
Jun 23, 2019
42 posts
12 upvotes
Coquitlam, BC
Ok, thanks, when my 3% runs out at Meridian, i will switch over but I noticed that link you shared doesn't usually include the big 5 banks or their promos. They seem to focus on CU's and Digital banks. For example, the Scotia 3% promo isn't even listed there.
Member
Mar 16, 2018
349 posts
330 upvotes
Hamilton
willowfly09 wrote:
Sep 15th, 2019 2:56 pm
Ok, thanks, when my 3% runs out at Meridian, i will switch over but I noticed that link you shared doesn't usually include the big 5 banks or their promos. They seem to focus on CU's and Digital banks. For example, the Scotia 3% promo isn't even listed there.
Did you check out Ratehub? Tangerine and Scotia are on there (not surprising, they're the same company and they're paying Ratehub lol)
https://www.ratehub.ca/savings-accounts ... h-interest

RBC has a 2.5% promo too apparently.

My point is more that there's always some new bank promotion available, but it's a pain in the ass to flip your finances around for most people, so often you're better off just finding a good reliable rate and sticking with if you hate hunting for a new account every few months.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)