5.25% until May/31/2023

Same as CIBC but for 120 days..much better deal

kiasu wrote: ↑ Same as CIBC but for 120 days..much better deal

CIBC is up to 200 000 k anything above that you get 3.75%

Went to the bank about a month ago to ask about this - apparently it's targetted customer only. Does anyone else have better luck in opening this "amplified" account?

blackpianist wrote: ↑ Went to the bank about a month ago to ask about this - apparently it's targetted customer only. Does anyone else have better luck in opening this "amplified" account?

Use the link on this thread to open the account. I just did it and it worked....

The BoC is raising rates on the 6th. Better deals on the way.

Good rate but only for 2 months? Thankful I just got 4.75% on Tangerine until end of March.

The end is nigh. Rates will start dropping with the next rate hike. The end is now being priced in. Whoever locks their money in longest wins.

Source: Jerome Powell is my uncle.

This promo has been going on since the end of September. Not bad for money on the sidelines without locking it up. Hoping for another decent promo rate starting February.

Amourek wrote: ↑ Good rate but only for 2 months? Thankful I just got 4.75% on Tangerine until end of March.

Tangerine's promotions are somewhat sneaky with the rates. While giving somebody 4.75% until March for example, if rates increase they would instead offer ANOTHER promotion a few months later at a higher rate and longer term but only for new clients (or those specifically targeted for the promotion in the "Tangerine Lottery"). The customers on the old plan are unable to take advantage of the new higher rate or longer term, even if they pulled all their money out of the old plan.

Simplii does not work that way. In fact, they have been known to bump up the rate in the middle of the promotion. Of course, even Simplii is somewhat sneaky with their promotions: Interest accrues throughout the period and then is paid at one time which sucks (but their rates are good). In the last promotion (that ended in October), they have yet to offer a replacement promotion unless you were a new client.

HSBC is the winner here so far, with a 4.9% rate until the end of January ($25k minimum, or 4.40% if under $25k). It is odd that for something as simple as a savings account there are so many obstacles and limitations that a customer has to understand before putting their money in the right place. I wonder why.

What's the best way to move money between banks without fees? Etransfer is too limited.

That's probably because you were already eligible, it's even on the footnote:


The Offer is only available to eligible customers who are invited to open a new Savings Amplifier Account opened during the Offer Period (“Qualifying Savings Amplifier Account”) by using the exclusive link to a BMO website that is provided to you through BMO Online or BMO Mobile Banking, or by email. For clarity purposes Savings Amplifier Accounts opened through the branch or any other method do not qualify for the Offer.

Does anyone know where to confirm the interest rate, after opening? I’m an existing BMO customer, and used the OP’s link to open an account and transfer in. When I look at Account Details, it doesn’t show the rate, though the “Bank Plan” type shows as “Promotional Interest”. Hopefully it worked. I missed that it was targeted, until reading the note above.

WiseOx wrote: ↑ Does anyone know where to confirm the interest rate, after opening? I’m an existing BMO customer, and used the OP’s link to open an account and transfer in. When I look at Account Details, it doesn’t show the rate, though the “Bank Plan” type shows as “Promotional Interest”. Hopefully it worked. I missed that it was targeted, until reading the note above.

I have done multiple BMO offers a year ago and when I had "Promotional Interest" it always worked out....I didn't get the offer email...I just had the link

WiseOx wrote: ↑ Does anyone know where to confirm the interest rate, after opening? I’m an existing BMO customer, and used the OP’s link to open an account and transfer in. When I look at Account Details, it doesn’t show the rate, though the “Bank Plan” type shows as “Promotional Interest”. Hopefully it worked. I missed that it was targeted, until reading the note above.

Then it should work. Mine says the same.

Anything available for TD?

kiasu wrote: ↑ Same as CIBC but for 120 days..much better deal

Jan 31 is less than 60 days..

er34er34 wrote: ↑ What's the best way to move money between banks without fees? Etransfer is too limited.

Years ago (when I had a lot of cash), when I needed to move great sums from one bank to another I would do it the old-fashioned way: Go to the old bank, wait in line, ask for a withdrawl, then take it to the new bank. If the amount was high, I would ask that it be put in a draft and that the bank waive the draft costs (ask nicely). If they will not waive the charge, ask for the whole thing in cash (that should change their minds), but if you do not want to walk around with so much cash, a draft should not cost more than $10.

There may be some delays regarding the deposit of such large amounts at once (laundering, gambling, etc.), but if you explain that you are simply walking the money from one bank to another (with receipts in hand), it should work out fine. The new bank should contact the old bank if there are any concerns (make sure you have the old bank phone number and/or withdrawl receipt handy).

Sry noobie at this. Do u get 4.75% divided by 12*number of months deposited?
Usually are there fees to move between banks?

Currently w TD right now

ImMrWorld wrote: ↑

It is odd that for something as simple as a savings account there are so many obstacles and limitations that a customer has to understand before putting their money in the right place. I wonder why.

The worst is Scotia, offering 4.4%, but only if you lock the money for a year, but you only get the special offer rate for a few months, it's math of the insane. I'm surprised they can legally call it 4.4% or whatever it is now, because it's impossible to actually achieve