Personal Finance

[PCF] President's Choice Financial HISA interest rate promos

  • Last Updated:
  • Apr 19th, 2017 8:33 pm
Deal Fanatic
User avatar
Aug 8, 2012
7240 posts
2477 upvotes
BC
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?
POLL: How many credit cards do you CARRY?
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...)
Newbie
Feb 24, 2017
8 posts
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
Jr. Member
Dec 22, 2006
104 posts
12 upvotes
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]
Deal Fanatic
Jan 7, 2002
9540 posts
2746 upvotes
Waterloo, ON
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.
veni, vidi, Visa

Help me boost my Downvote count. Please click 👎 below. Thank you.
Newbie
Feb 24, 2017
8 posts
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.
Deal Fanatic
User avatar
Aug 8, 2012
7240 posts
2477 upvotes
BC
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 many credit cards do you CARRY?
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]
Deal Fanatic
Jan 7, 2002
9540 posts
2746 upvotes
Waterloo, ON
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.
veni, vidi, Visa

Help me boost my Downvote count. Please click 👎 below. Thank you.
Deal Fanatic
User avatar
Aug 8, 2012
7240 posts
2477 upvotes
BC
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 many credit cards do you CARRY?
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]
Deal Fanatic
Jan 7, 2002
9540 posts
2746 upvotes
Waterloo, ON
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.
veni, vidi, Visa

Help me boost my Downvote count. Please click 👎 below. Thank you.
Deal Fanatic
User avatar
Aug 8, 2012
7240 posts
2477 upvotes
BC
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 many credit cards do you CARRY?
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 Fanatic
User avatar
Aug 8, 2012
7240 posts
2477 upvotes
BC
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 many credit cards do you CARRY?
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]
Deal Fanatic
Jan 7, 2002
9540 posts
2746 upvotes
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.
veni, vidi, Visa

Help me boost my Downvote count. Please click 👎 below. Thank you.
Newbie
Sep 23, 2009
88 posts
21 upvotes
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.
× < >
Rotate image Save Cancel

Top