YMMV - Earn 2.00% interest* on deposits to your Savings Account(s) until February 28, 2021.

I think Simplii has a similar promo until March 31. Just call them before moving your money to make sure.

fcf777 wrote: ↑ I think Simplii has a similar promo until March 31. Just call them before moving your money to make sure.

They do and the promo is still active. For those who already have a Simplii high interest savings account, login and check to see if you've received an even better offer of 2.30%. If you're opening a new account, the best that you can get at the moment is the 2% promo offer. You definitely should call in and confirm that you're receiving it, don't assume anything.

uwengdori wrote: ↑ I have decent amount of money in Tangerine but I never get these offers and don't get why. been their customer for several years. did get one 6 month offer several years ago.

They don't reward loyalty, move your money out to whomever is offering a promo. You're more likely to get a targeted offer that way.

The thing I do like about the Tangerine promo is that you get the money right away per month IIRC and it's very clearly stated in the account. The Simplii promo you don't see until after March 31, so there is always a tiny bit of doubt. At the end of the day, it's 0.3% difference, which on every 10k is only $2.5 a month, even less if you don't have it in a TFSA as it'll be taxed (and you probably shouldn't if you're bouncing between promo accounts as I think many of these banks don't have free TFSA account transfers). Probably best to go with whichever bank's promo is decent and offering the greatest convenience.

flyjazz wrote: ↑ They don't reward loyalty, move your money out to whomever is offering a promo. You're more likely to get a targeted offer that way.

That's exactly what I have been doing. I have been with them since it's ING Direct. I used to have Manulife and EQ high interest accounts. But I moved my money around till I settled with B2B. I keep my saving balance at B2B. Only move to Tangerine when there is a promo. Otherwise, I only keep the bare minimum in Tangerine.

mkl38s wrote: ↑ Go to Tangerine and create a link with your external bank (say Scotia). You need to provide Tangerine the Institution #, Transit # and account #. Tangerine will then put 2 micro deposits into you account, it usually takes one full day. Then when it's ready at Tangerine, you can then confirm the link by enter the exact cents of the 2 transactions. Once it's linked, you can then setup the transfer at Tangerine end to pull money over from your other bank. It usually takes one business day. The money pulled over at Tangerine will be on hold for 5 business days

Jimboski wrote: ↑ If both of the accounts are linked you just do a manual pull/transfer from the Tangerine site. I did that and it got processed overnight but all of the funds still need to clear, still allows you to be eligible for the interest during those processing days.

lilmikey wrote: ↑ Thanks guys for explaining, it takes lil time to setup but then your set to move money quicker for these saving account rate wars between banks.

Thanks for all the information. I've just linked my tangerine account to my RBC account to pull money. But I wondered about the limit I can move at a time and cost of it. RBC customer service told me I have $2000 daily transfer limit. And since I am using basic account in RBC after 12 debits per month I need to pay transaction fee.

In your case, is your daily limit too high to move big amount of money at a time? Or Is this type of transfer different and CSR didn't give correct information?

Gommes wrote: ↑ Thanks for all the information. I've just linked my tangerine account to my RBC account to pull money. But I wondered about the limit I can move at a time and cost of it. RBC customer service told me I have $2000 daily transfer limit. And since I am using basic account in RBC after 12 debits per month I need to pay transaction fee.

In your case, is your daily limit too high to move big amount of money at a time? Or Is this type of transfer different and CSR didn't give correct information?

That daily limit is not towards pulls like these. Like i read people transferred $100k+ with no problems and i highly doubt their daily transaction limit is $100k+. I've pulled more out than my daily transfer limit through my linked accounts, no problems at all.

Thanks! I checked Simpili new TFSA account online and saw the 2% promo, this is the best rate I can get now right?

how much is the TFSA limit for up to date?

Frankie3s wrote: ↑ They do and the promo is still active. For those who already have a Simplii high interest savings account, login and check to see if you've received an even better offer of 2.30%. If you're opening a new account, the best that you can get at the moment is the 2% promo offer. You definitely should call in and confirm that you're receiving it, don't assume anything.

Would it work if I moved say $5000 into the account From a different bank but then moved $5000 out or vice versa?

ecgz88 wrote: ↑ Thanks! I checked Simpili new TFSA account online and saw the 2% promo, this is the best rate I can get now right?

how much is the TFSA limit for up to date?

For a TFSA savings account, yes. As for what the total TFSA limit is, it's best to phone into Simplii to inquire and to confirm that you're signed up for the 2% promo offer on the TFSA account (if you have already signed up online).

ecgz88 wrote: ↑
how much is the TFSA limit for up to date?

If you were 18 or over in 2009 and a Canadian resident for all years total contribution limit today would be $69,500.00

https://en.m.wikipedia.org/wiki/Tax-fre ... gs_account

scoper wrote: ↑ If you were 18 or over in 2009 and a Canadian resident for all years total contribution limit today would be $69,500.00

https://en.m.wikipedia.org/wiki/Tax-fre ... gs_account

yes, I saw that $69500, but for whatever reason my CRA account said my eligible amount is $70248 (looks like I deposit some and withdraw all in 2017 changed it)

Does this work if you already have a Tangerine account and transfer out your money and back in for the 2% interest?

Pertdu wrote: ↑ Does this work if you already have a Tangerine account and transfer out your money and back in for the 2% interest?

Nope

ecgz88 wrote: ↑ yes, I saw that $69500, but for whatever reason my CRA account said my eligible amount is $70248 (looks like I deposit some and withdraw all in 2017 changed it)

Don't rely on CRA's accounting for TFSA eligible amounts. It's notoriously out of date by months and thus unreliable. One of today's mysteries-of-life is how this can be when almost all financial transactions are electronic and happen virtually instantly.

Anybody that didn’t receive this offer call in to Tangerine and get it added/applied ?

Just moved a chunk of money out of Tangerine after the last promo ended. Parked it in EQ for the time being. Do not see any new Tangerine promo on my account. Still searching for the next promo. Don't want to deal with Simplii, last time I signed up they said I'd get a welcome package in the mail but never got anything.

canuckcolehead wrote: ↑ Anybody that didn’t receive this offer call in to Tangerine and get it added/applied ?

no, they just flatly say no offers available.

radeonboy wrote: ↑ Just moved a chunk of money out of Tangerine after the last promo ended. Parked it in EQ for the time being. Do not see any new Tangerine promo on my account. Still searching for the next promo. Don't want to deal with Simplii, last time I signed up they said I'd get a welcome package in the mail but never got anything.

Canadian Tire Bank is offering 1.8% for their HISA. A little bit better than EQ's 1.5%