Personal Finance

The Official RFD TFSA thread for Savings Accounts! (Updated as of 09/09/2017)

Deal Fanatic
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Oct 24, 2004
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Toronto (Central)
Just to clarify, if one doesn't qualify as being a new Tangerine client to take advantage of their promo TFSA rate, PC Financial's 2.25% until the end of March is the best rate currently going, right?
Deal Fanatic
Jul 8, 2010
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York
Just wondering how updated the list is in the OP
Deal Fanatic
Jul 8, 2010
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York
What I meant to ask was, has there been any change in TFSA rates that are not reflected in the OP
[OP]
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Mar 23, 2004
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Markham
dankup wrote:
Feb 4th, 2017 4:19 pm
What I meant to ask was, has there been any change in TFSA rates that are not reflected in the OP
AFAIK, not really. The only thing going on really is promos.
「もし、奇跡を起こせたら……」
Deal Fanatic
Jul 8, 2010
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York
Anyone here with Alterna? Thinking about opening an account. Will close my old People's Trust one before opening Alterna though.

Can anyone comment on service? Any hassles?
Deal Fanatic
Jul 8, 2010
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York
PC Financial has had a TFSA of 2.25% since November (albeit the promo ends in March). Would be great if it would be added to the OP.
[OP]
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Mar 23, 2004
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Markham
dankup wrote:
Feb 9th, 2017 9:17 pm
PC Financial has had a TFSA of 2.25% since November (albeit the promo ends in March). Would be great if it would be added to the OP.
Huh, it is on the OP since the last update:

PCF Tax Free Interest Plus Savings Account - 0.80% ($50 transfer fee - 2.25% on new deposits until March 31st, 2017)
「もし、奇跡を起こせたら……」
Deal Fanatic
Jul 8, 2010
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York
angel_wing0 wrote:
Feb 9th, 2017 9:27 pm
Huh, it is on the OP since the last update:

PCF Tax Free Interest Plus Savings Account - 0.80% ($50 transfer fee - 2.25% on new deposits until March 31st, 2017)
Ah just saw it, my bad. Thought it would be listed as highest on the list for the time being until the promo is over.
Deal Guru
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Aug 8, 2012
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BC
dankup wrote:
Feb 9th, 2017 10:24 pm
Ah just saw it, my bad. Thought it would be listed as highest on the list for the time being until the promo is over.
Ah ya, that's a fair point. It is the best rate currently so you might look for it at the top instead of hunting to find better rates throughout the list.

Suggestion @angel_wing0 ... since you do say "highest to lowest" ... put it in the list twice, with the first entry indicating it's temporary:

"Savings Account (Rates are subject to change ANYTIME, order is from highest to lowest.)

PCF Tax Free Interest Plus Savings Account - 2.25% on new deposits until March 31st, 2017 ($50 transfer fee - 0.8% normal rate)

Alterna Bank TFSA eSavings - 1.95%

...

PCF Tax Free Interest Plus Savings Account - 0.80% ($50 transfer fee - 2.25% on new deposits until March 31st, 2017)

...
"
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
Deal Addict
Jul 22, 2015
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Saint-Hubert, QC
dankup wrote:
Feb 5th, 2017 11:36 am
Anyone here with Alterna? Thinking about opening an account. Will close my old People's Trust one before opening Alterna though.

Can anyone comment on service? Any hassles?
The only hassle is to move money from TFSA account to other accounts... you need to call them to do that for some reason.
Otherwise, the eChequing and eSavings accounts work well.
Deal Fanatic
Jul 8, 2010
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York
MoneyHypeMike wrote:
Feb 10th, 2017 5:21 pm
The only hassle is to move money from TFSA account to other accounts... you need to call them to do that for some reason.
Otherwise, the eChequing and eSavings accounts work well.
Appreciate it. I remember that being the case with Peoples Trust back in the day when they had a 3% rate.

I heard that in order to move money out of your Alterna TFSA to a chequing account with a different bank, you need to first move it to an Alterna chequing account? So the trail becomes Alterna TFSA -> Alterna chequing account -> your financial institution's chequing account. Can you confirm this?
Deal Fanatic
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Apr 16, 2006
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dankup wrote:
Feb 10th, 2017 6:04 pm
Appreciate it. I remember that being the case with Peoples Trust back in the day when they had a 3% rate.

I heard that in order to move money out of your Alterna TFSA to a chequing account with a different bank, you need to first move it to an Alterna chequing account? So the trail becomes Alterna TFSA -> Alterna chequing account -> your financial institution's chequing account. Can you confirm this?
Doubt it. What if you have no cherquing account?
Deal Fanatic
Jul 8, 2010
6717 posts
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York
Octavius wrote:
Feb 11th, 2017 12:27 pm
Doubt it. What if you have no cherquing account?
Well that was the point of their strategy - for you to make one on purpose.

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