Personal Finance

[PCF] President's Choice Financial HISA interest rate promo 01May-31OCT17 2%-2.5%

  • Last Updated:
  • Nov 11th, 2017 10:43 am
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Aug 8, 2012
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wadesj wrote:
Apr 10th, 2017 6:01 pm
EQB has 25k limit on mobile cheque deposits. (Don't see anything stopping someone from using multiple 25k cheques. )

Actually what I did in this similar situation was use a 3rd bank account.
3rd Bank (initiate) <== EQB
PCF (initiate) <== 3rd Bank
Fire off interac e-transfers from EQB and the 3rd bank to PCF (Target)
If you make a link to PCF at EQ, then you can push as much money as you want from EQ to PCF.

Isn't that the simplest solution?
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Feb 24, 2017
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ace604 wrote:
Apr 10th, 2017 6:07 pm
If you make a link to PCF at EQ, then you can push as much money as you want from EQ to PCF.

Isn't that the simplest solution?
The problem is that EQB has 30k transfer limit for outbound EFT. And it was per bank link and per week last time I tried.

Electronic Funds Transfers [EFT]
$30,000 outbound to linked external bank, and $100,000 limit for inbound from external bank account per transaction.

https://www.eqbank.ca/personal-banking/ ... d-features
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Dec 22, 2006
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wadesj wrote:
Apr 11th, 2017 4:50 pm
The problem is that EQB has 30k transfer limit for outbound EFT. And it was per bank link and per week last time I tried.

Electronic Funds Transfers [EFT]
$30,000 outbound to linked external bank, and $100,000 limit for inbound from external bank account per transaction.

https://www.eqbank.ca/personal-banking/ ... d-features
No issue pushing 3 transactions of $30,000 to Tangerine yesterday.
[OP]
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wadesj wrote:
Apr 11th, 2017 4:50 pm
Electronic Funds Transfers [EFT]
$30,000 outbound to linked external bank, and $100,000 limit for inbound from external bank account per transaction.
To clarify, at least the inbound isn't per week; it's per transaction. And you can do multiple of those transactions in the same day, so e.g. to move $300k into EQB you could do a series of three $100k transactions, one right after the other.
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sauro88 wrote:
Apr 11th, 2017 5:02 pm
No issue pushing 3 transactions of $30,000 to Tangerine yesterday.
Good to hear!

I remember for January Tangerine promo I wasn't able to do that.
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wadesj wrote:
Apr 11th, 2017 4:50 pm

The problem is that EQB has 30k transfer limit for outbound EFT. And it was per bank link and per week last time I tried.

Electronic Funds Transfers [EFT]
$30,000 outbound to linked external bank, and $100,000 limit for inbound from external bank account per transaction.

https://www.eqbank.ca/personal-banking/ ... d-features
sauro88 wrote:
Apr 11th, 2017 5:02 pm

No issue pushing 3 transactions of $30,000 to Tangerine yesterday.
wadesj wrote:
Apr 11th, 2017 5:15 pm
Good to hear!

I remember for January Tangerine promo I wasn't able to do that.
System could flag exact same $-amount as duplicates. Did you try the exact same amount wadesj?
sauro88, did you use different amounts?

It's advisable (even if not flagged as duplicate) to make them different for tracking purposes anyways ... $29,999.00 + $29,999.50 + $29,999.99 ... so when one gets stuck, bounces, has some issue, you can identify it uniquely.

Also, you should be able to bypass limits via CSR (phone or online chat) ... at least you can do this with Tangerine for sure ... can't recall for sure if I did this yet with EQ. Anyways, I probably wouldn't bother and just do it myself as above with different amounts.
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...)
[OP]
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ace604 wrote:
Apr 11th, 2017 6:39 pm
System could flag exact same $-amount as duplicates. Did you try the exact same amount wadesj?
sauro88, did you use different amounts?
I have done large pulls into EQB all on the same day and all with identical amounts with no problems. And I have e-mails from EQB to confirm it.
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bylo wrote:
Apr 11th, 2017 10:00 pm
I have done large pulls into EQB all on the same day and all with identical amounts with no problems. And I have e-mails from EQB to confirm it.
wadesj maybe is misremembering or hit a system glitch then.

Within the first month of EQB I had an issue that they couldn't figure out with a recurring transfer bill payment to my broker not going out. Something something backend silently dropping it, no error message, something something "possible duplicate" was as much as I got out of them while trying to debug the issue. I didn't really care much about it failing and waiting to fix it since it wasn't a real 'bill' and just regular contributions I didn't need for anything in particular.

Since then I avoided doing duplicates. I think it's best practice for tracking any large transfers, EFT, or wire, or otherwise anyways.
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...)
[OP]
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Looks like PCF has decided to pass on HISA bonus rate gimmicks, at least for this quarter. That leaves TING as the only one still paying a bonus on top of their 0.80% regular rate.

So starting in TING won't have any reason to pay more than 2% (or whatever EQ Bank's rate will be then.) Enjoy your up-to-3.21% at TING while it lasts.
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bylo wrote:
Apr 19th, 2017 1:45 pm
Looks like PCF has decided to pass on HISA bonus rate gimmicks, at least for this quarter. That leaves TING as the only one still paying a bonus on top of their 0.80% regular rate.

So starting in TING won't have any reason to pay more than 2% (or whatever EQ Bank's rate will be then.) Enjoy your up-to-3.21% at TING while it lasts.
TD has a (targeted?) promo if you open a savings and deposit $5k or more you get 5x the normal rate til end of July or something like that? I think it was 2-2.5% range IIRC.
Someone posted their letter here. I think I threw mine out. Got it in the mail.
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...)
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TD letter was posted on Tangerine promo thread: https://forums.redflagdeals.com/tangeri ... #p27681382
Or, if you are on non-default paging (above link is if you are on default paging, and would show pg 30 of 31) then this link should work for anyone:
https://forums.redflagdeals.com/viewtop ... p=27681382

Offer is "more than 4x" interest, which is 0.5% + 1.70% = 2.20%.
st-d wrote:
Apr 13th, 2017 7:42 pm
ps: received letter today from TD offering 2.2% (X4 of current rate ) for all the balance in the high saving acct. gonna check it out in branch. (so far, the restriction is 5K+ min balance etc. ) since I am already with TD, I think it is going to be ok for me cuz I don't wanna open too many bank account. *** probably targeted offer. cuz I called and they could not find "my name " in the "system" and told me to go to branch.***
st-d wrote:
Apr 13th, 2017 8:56 pm
deposit before may 31st
promo interest until July 31st

*** probably targeted offer. cuz I called and they could not find "my name " in the "system" and told me to go to branch.***
Image credit also @st-d:
Image
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...)
[OP]
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Waterloo, ON
ace604 wrote:
Apr 19th, 2017 1:54 pm
TD has a (targeted?) promo if you open a savings and deposit $5k or more you get 5x the normal rate til end of July or something like that? I think it was 2-2.5% range IIRC.
Someone posted their letter here. I think I threw mine out. Got it in the mail.
Interesting (pun intended.) I don't get promotional e-mails from TD because I asked them to stop years ago. You'd think they could pop up a notice at logon to EasyWeb like TING and PCF do, but apparently not. So now I'll have to call them and beg.

Added: One irritant and potential show stopper is that debits are $5 a pop unless you keep $25,000 balance. That means that at the end of the promo, unless they come up with a new promo, it will cost $5 to transfer out. You also have to keep at least $5,000 on deposit in this account in order to get even the usual (0.5%) interest rate. So once the promo ends, again unless they have a new promo, it makes no sense to keep the account.
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bylo wrote:
Apr 19th, 2017 2:52 pm
Added: One irritant and potential show stopper is that debits are $5 a pop unless you keep $25,000 balance. That means that at the end of the promo, unless they come up with a new promo, it will cost $5 to transfer out. You also have to keep at least $5,000 on deposit in this account in order to get even the usual (0.5%) interest rate. So once the promo ends, again unless they have a new promo, it makes no sense to keep the account.
Agreed. but in my case, at end of July. I will just call and close that saving account. and tell them to transfer the balance to my chequing. if they ask, their restrictions and fee and low payout interest are the reason.
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bylo wrote:
Apr 6th, 2017 2:34 pm
The 2.25% interest rate promo ended 31Mar17. PCF has just posted the promotional part of the interest in our accounts.


Clipboard01.jpg


So far there's no indication if they'll have a promotion for the current quarter ending 30Jun17. However if they don't they risk losing deposits to TangerING and their up-to-3.21% promo.
OP, maybe can update this thread and have it reflect current promo, instead of discussion on old thread with confusing old title of 2.25% that's made me more than once try the 2-25 URL to see if it works :D

Seems at least 2 different rates, 2 and 2.25% 2.50%! (I did it again - I blame the old OP title!):
http://www.banking.pcfinancial.ca/mkt/c ... ay-en.html
http://www.banking.pcfinancial.ca/mkt/c ... ay-en.html
Last edited by ace604 on May 3rd, 2017 11:07 pm, edited 1 time in total.
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...)
[OP]
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Jan 7, 2002
10549 posts
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Waterloo, ON
ace604 wrote:
May 3rd, 2017 11:07 pm
OP, maybe can update this thread and have it reflect current promo
Done and thanks.
Seems at least 2 different rates, 2 and 2.25%:
I think you meant 2% and 2.5%.

Meanwhile I've been checking my Inbox and logging on my PCF account a couple of times today. So far no offer for me. The bastards! :twisted:
veni, vidi, Visa

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