Expired Hot Deals

Meridian Credit Union

Earn 1% cash bonus

  • Last Updated:
  • Feb 28th, 2018 9:03 pm
[OP]
Newbie
May 6, 2008
50 posts
47 upvotes
Toronto

Earn 1% cash bonus

Deal Link:
Savings:
1%
Retailer:
Meridian Credit Union
Limited time offer.
Only transfers-in of registered deposits (RRSP, TFSA, RRIF) from plan issuers other than Meridian or those affiliated with Meridian are eligible for the 1% Cash Bonus Offer.
See full terms and conditions for details.
https://www.meridiancu.ca/RRSP-1-Cash-Bonus.aspx
22 replies
Jr. Member
User avatar
Jul 15, 2016
107 posts
53 upvotes
FYI: a minimum of a $10000 transfer from another institution into a meridian registered account ( RRSP.TFSA etc..) is required to qualify for the cash bonus.
Last edited by OntMathTeach on Jan 6th, 2018 11:28 pm, edited 1 time in total.
Deal Addict
User avatar
Mar 9, 2012
3831 posts
2646 upvotes
Kitchener
OntMathTeach wrote: FYI: a minimum of a $10000 transfer from another institution into a meridian registered account ( RESP.TFSA etc..) is required to qualify for the cash bonus.
Just noted my RRSP went up 1% over the past week. Good week obviously....

Does anyone know how well these credit unions perform RRSP wise?
Why can't we all just get along?
Deal Expert
User avatar
May 8, 2009
15429 posts
13867 upvotes
Going to the Moon
What about a churn? If you transfer over money to a Meridian account, how long would you have to keep it there to keep that 1% bonus? Excludes HISA's it seems. Someone would have to point out the steps taken to cash in on that 1% within a short amount of time (I expect within 90 days maximum) and keep that bonus incentive for me to understand how this is a hot deal.
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Jr. Member
User avatar
Jul 15, 2016
107 posts
53 upvotes
titaniumtux wrote: What about a churn? If you transfer over money to a Meridian account, how long would you have to keep it there to keep that 1% bonus? Excludes HISA's it seems. Someone would have to point out the steps taken to cash in on that 1% within a short amount of time (I expect within 90 days maximum) and keep that bonus incentive for me to understand how this is a hot deal.
You could do a TFSA HISA..
Link to Terms and Conditions: https://www.meridiancu.ca/Meridian/medi ... n-Book.pdf
Deal Expert
User avatar
May 8, 2009
15429 posts
13867 upvotes
Going to the Moon
OntMathTeach wrote: You could do a TFSA HISA..
Link to Terms and Conditions: https://www.meridiancu.ca/Meridian/medi ... n-Book.pdf
Looks like you can keep the bonus once it's been paid into the account. Only thing is, we have no idea how long it takes for them to pay out that 1% bonus.
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[OP]
Newbie
May 6, 2008
50 posts
47 upvotes
Toronto
titaniumtux wrote: Looks like you can keep the bonus once it's been paid into the account. Only thing is, we have no idea how long it takes for them to pay out that 1% bonus.
they will give you the bonus incentive on the spot that money arrives in Meridian
Deal Addict
Jul 22, 2010
1155 posts
216 upvotes
toronto
titaniumtux wrote: Looks like you can keep the bonus once it's been paid into the account. Only thing is, we have no idea how long it takes for them to pay out that 1% bonus.
How long do you have to keep the money with meridian for though? Is there a clawback period?
Deal Expert
User avatar
May 8, 2009
15429 posts
13867 upvotes
Going to the Moon
Scavos wrote: How long do you have to keep the money with meridian for though? Is there a clawback period?
I can't see any, but would be interesting to find out. I suppose they figure you won't transfer out so quickly since it'd be a TFSA...
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Sr. Member
Dec 3, 2009
830 posts
466 upvotes
Vancouver
Hmm this is pretty tempting.

Now just got to do the math to determine whether the transfer fee will be worth it. Looks like Tangerine charges $45 to transfer TFSA...

Looks like Meridian charges $100 for transferring TFSA out within 90 days as well.
Sr. Member
Jan 23, 2009
779 posts
1070 upvotes
Ontario
titaniumtux wrote: I can't see any, but would be interesting to find out. I suppose they figure you won't transfer out so quickly since it'd be a TFSA...
I got the email i called CSR told me must keep $$$ for one year
[OP]
Newbie
May 6, 2008
50 posts
47 upvotes
Toronto
pentiumvi wrote: Hmm this is pretty tempting.

Now just got to do the math to determine whether the transfer fee will be worth it. Looks like Tangerine charges $45 to transfer TFSA...

Looks like Meridian charges $100 for transferring TFSA out within 90 days as well.
they said they will cover the transfer fee
[OP]
Newbie
May 6, 2008
50 posts
47 upvotes
Toronto
agit wrote: I got the email i called CSR told me must keep $$$ for one year
i phoned in and asked their advisor but i heard totally 2 different stories Lol
Sr. Member
Dec 3, 2009
830 posts
466 upvotes
Vancouver
Has anyone jumped on this deal?

If so, can you confirm when the bonus appears in your Meridian account?

I've also been told must keep money for one year, but don't see anything in terms and conditions. Wonder what the penalty for withdrawing early is....
Jr. Member
Dec 8, 2006
180 posts
12 upvotes
https://www.meridiancu.ca/Meridian/medi ... n-Book.pdf

"Meridian reserves the right to suspend, disqualify, limit or revoke this Offer to any Member it finds or
believes to be manipulating or otherwise abusing the process, fairness, or integrity of the 1.0% Cash Bonus Offer."

Seems they can interpret as they please. I wonder if this type of ambiguous language is allowed by Canada's Financial Services regulator?
Deal Addict
May 31, 2005
1726 posts
515 upvotes
Mississauga
can you just make a TSFA contribution to get the bonus or have to transfer in from another TSFA account?
[OP]
Newbie
May 6, 2008
50 posts
47 upvotes
Toronto
aximrocks wrote: can you just make a TSFA contribution to get the bonus or have to transfer in from another TSFA account?
need to transfer from other financial institution
Deal Fanatic
User avatar
Sep 25, 2005
9290 posts
7662 upvotes
Scarborough, ON
alanhk66 wrote: they said they will cover the transfer fee
I do not see this mentioned anywhere in the T&C.
Jr. Member
Sep 15, 2014
106 posts
49 upvotes
LoDown wrote: https://www.meridiancu.ca/Meridian/medi ... n-Book.pdf

"Meridian reserves the right to suspend, disqualify, limit or revoke this Offer to any Member it finds or
believes to be manipulating or otherwise abusing the process, fairness, or integrity of the 1.0% Cash Bonus Offer."

Seems they can interpret as they please. I wonder if this type of ambiguous language is allowed by Canada's Financial Services regulator?
Right?! Like what in the world does that even mean?

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