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Meridian 4 Month 2.75% HISA

  • Last Updated:
  • Apr 2nd, 2020 7:10 am
[OP]
Deal Addict
Mar 14, 2014
1292 posts
1742 upvotes

Meridian 4 Month 2.75% HISA

Deal Link:
Expiry:
April 14, 2020
Meridian has another promo for those that do not currently hold and have not previously held a Good To Grow High Interest Savings Account in unregistered and registered plan types (TFSA, RRSP or RRIF) within the previous 6 months. I closed my previous account more than six months which will allow me to be eligible for the promo.

Edit: Interest rate offer lowered to 2.85% from 3% on the March 16th and again to 2.75% on March 19th.

Edit: I must be dreaming as Meridian lowered my interest rate to 2.45% on March 19th and today March 30th the rate increased to 2.75%. I originally signed up at 3% and once it dropped to 2.45%, moved all my funds out. Seems Meridian finally figured out clients will move their money out quickly if they want to play fast and loose. If they want or need deposits, they must offer something competitive and 2.75% in the current environment is good.
Last edited by flyjazz on Mar 30th, 2020 8:01 pm, edited 9 times in total.
69 replies
Deal Fanatic
User avatar
Feb 5, 2006
7637 posts
1578 upvotes
Toronto
flyjazz wrote: Meridian has another promo for those that do not currently hold and have not previously held a Good To Grow High Interest Savings Account in unregistered and registered plan types (TFSA, RRSP or RRIF) within the previous 6 months. I closed my previous account more than six months which will allow me to be eligible for the promo.
Are they CDIC insured? Any negatives to be aware of?

Thanks.
Sr. Member
Oct 5, 2014
589 posts
1315 upvotes
Ontario
Thanks OP.

The only thing to watch out for is if they change the posted rate of 1.3%. if that drops to say 1.15 you'd only receive a rate of 2.85%. Something similar happened last year during the 3.25% promo without any notice. Otherwise Meridian is solid.
Sr. Member
User avatar
Mar 22, 2018
586 posts
1115 upvotes
Canada
Inno wrote: Are they CDIC insured? Any negatives to be aware of?

Thanks.
No CDIC coverage. They are covered by DICO: www.dico.com (Covers up to 250K)
If Ontario and DICO go bust, then you'll have an issue.
Larger chance that Ontario goes bankrupt.
Deal Fanatic
User avatar
Nov 18, 2008
9009 posts
2279 upvotes
Mont-Royal
U need to open a new account for that?
"Every marathon you run, your heart scars and you will die faster. If you think running a marathon is fitness, then you know NOTHING ABOUT HEALTH & FITNESS."
- Training 101
Sr. Member
User avatar
Oct 21, 2009
852 posts
749 upvotes
Does anyone know what the fee is to switch an rrsp from them to another company at a future date?
Deal Addict
Nov 29, 2011
1283 posts
1928 upvotes
thanks OP.

so i have to close my current account for 6 months to take advantage of this? annoying...
Sr. Member
User avatar
Mar 22, 2018
586 posts
1115 upvotes
Canada
meemo wrote: Does anyone know what the fee is to switch an rrsp from them to another company at a future date?
$75
I suggest not to do it, because an RRSP transfer could take between 1 to 3 months to process where your $'s will be in limbo - and not making any money. A 4 month promo just isn't worth it for a registered account. Fees here: link
Deal Expert
User avatar
Feb 8, 2014
26982 posts
11429 upvotes
Socially Distanced
Darn it, i was on their last promo that ended last month.
In fact in Rand McNally they wear hats on their feet and hamburgers eat people
Deal Addict
User avatar
Feb 25, 2004
1853 posts
266 upvotes
416
Isn't motive financial better ROI on your time at 2.4% year round rate ?

I need to choose a bank/institution that is EASY to get money into FROM Simplii Financial , especially if possible to do it 100% online (B2B / LBC aren't even working for me for online account opening)
Newbie
Feb 26, 2020
1 posts
can anyone clarify if i am eligible for the 3% promo? i have an existing rrsp hisa with meridian but never open a non registered hisa, i am thinking to open a non registered hisa but i get inconsistent info from member connect centre and my home branch, my home branch told me i will get 3% on the non registered hisa, but member connect centre told me i am not eligible because i have a rrsp hisa. anyone in my situation?
Newbie
Jun 18, 2015
65 posts
11 upvotes
Ottawa, ON
signed up, it just took me 5 minutes and it shows 3% for the new account
will transfer $ from b2b to there
Sr. Member
Oct 21, 2015
573 posts
761 upvotes
Toronto, ON
Typical. Don't care about loyal customers.
Deal Addict
Mar 28, 2008
1776 posts
664 upvotes
ON
So I opened a HISA, but am realizing, how do I transfer money out?
Apparently reauthorized debits can't be done, so do I have to open a chequing account to essentially move out any significant money?
[OP]
Deal Addict
Mar 14, 2014
1292 posts
1742 upvotes
sprdave wrote: So I opened a HISA, but am realizing, how do I transfer money out?
Apparently reauthorized debits can't be done, so do I have to open a chequing account to essentially move out any significant money?
If you have other accounts at institutions that have the ability create links to Meridian for pushing/pulling of funds such as Tangerine, Simplii, etc,. Otherwise you can set up links on the Meridian side, see the following below;

https://www.meridiancu.ca/Ways-To-Bank/MoneyMover.aspx
Newbie
Oct 11, 2013
63 posts
92 upvotes
Nanaimo, BC
Easiest high interest savings account I've ever opened. 3% for 4 months is easy and safe especially in this economic climate. Thanks OP!
Member
Dec 18, 2008
429 posts
196 upvotes
Ottawa
What's the fastest way to move money into the account? Seems the daily limit of transferring money after linking external account is $10K
Deal Addict
Sep 2, 2006
2634 posts
1350 upvotes
Orleans, ON
Question : my introduction promo is over. Never was offered another promotion after the introduction promotion ended more than a year ago.

Has anyone been lucky when calling the call center to request an interest rate promotion?

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