Canadian High Interest Savings Bank Accounts

Hi,
I'm Interested in opening an account here but from viewing their website I can't seem to locate any information on Bank to Bank transfers.
Is anyone familiar with the ease/difficulty of moving funds to and from Achieva Accounts. I currently am at RBC but am moving a large sum to CanTire Financial soon and am also looking to move similar here if it is easy to do online transfers if a better option comes up else where.

Thx for any assistance
A.B.Ames

Thank You for the Info,
Guess I'll have to look elsewhere.
Again, Many Thx

A.B.Ames

I've read about these bank to bank transfer concerns and I have to tell you that once you consider the other ways you gain access to your funds with Achieva through online, direct transfers, ATM & cheques, this is a very small issue for the rates you recieve, with full insurance on savings, term deposits and RSPs. I opened my account first with these concerns, now I'm moving my RSPs over from BMO.

Achieva is a great place to park some money if you plan on leaving it there for a while AND you don't plan on using it as an emergency fund. You can withdraw funds with an ATM card, but only up to your daily limit ($500 I think), and you have to wait as long as two weeks to settle a bank-to-bank transfer (both good reasons why this account is not good for emergencies). Achieva's term deposits are also 100% locked-in, so once you deposit your money, only a court order can get it out again before the term expires. Having said this, I agree with previous posters that the customer service staff is excellent. Also, all your accounts are fully-insured even if they exceed $100K (unlike CDIC with insures upto $100K) by the credit union deposit corporation (or something like that).

Achieva is a great place to park some money if you plan on leaving it there for a while AND you don't plan on using it as an emergency fund. You can withdraw funds with an ATM card, but only up to your daily limit ($500 I think), and you have to wait as long as two weeks to settle a bank-to-bank transfer (both good reasons why this account is not good for emergencies). Achieva's term deposits are also 100% locked-in, so once you deposit your money, only a court order can get it out again before the term expires. Having said this, I agree with previous posters that the customer service staff is excellent. Also, all your accounts are fully-insured even if they exceed $100K (unlike CDIC with insures upto $100K) by the credit union deposit corporation (or something like that).

My question is how do people who are using Achieva make deposits and withdrawals? 2 weeks for bank to bank transfers is unacceptable. Do you have to do it through snail mail? It sounds to me like their online capabilities are very limited. How much do they charge you to withdraw your money? Their service fees seem extremely excessive. (eg. $25.00 if you don't use your account for 6 months?)
http://www.achieva.mb.ca/Produ…..eFees.aspx

As a long term customer of Achieva, I was thrilled to see they are now offering online electronic money transfers. You can sign-up through their online banking site or apply for it as a new customer when opening your account.

Having an account for over 7 years, this was my one and only complaint, as their rates are always one of the best, fully insured and offer a full product line for RSPs and locked-in RSPs, when I transferred my old pension from London Life.

It is simple, you, just have to sign-up and mail them a voided check from your other bank account.

I have had an account with Achieva for many years and have moved most of my savings from RBC, ING and the old Citizens Bank. Over the years they have always had among the best rates available for savings and GICs, with all their deposits being RSP & TFSA eligible.

The only one complaint I had was not having a direct electronic money transfer as ING had, however, this was introduced last year and works very well between my primary RBC account and Achieva. It was easy to set-up and I can easily move funds from one account to another.

As for safety…what can I say? They have a 100% deposit guarantee and while I can't comment to the reserves you speak about, I do know that this fund would have to be externally monitored as any other fund of its type. That said, I also know that no depositor has ever lost money with a credit union in Canada for failure and specific to Achieva's parent company Cambrian Credit Union, they post their annual reports and quarterly financial position for all members to have access. They are a very stable, well capitalized company that has been in existance for many years.

At the end of the day…you have to put your deposits where you seem most comfortable.

Correct, the transfer will take one to two days to settle. It is explained under Manage Your Account on Achieva's Web Page, however, you need to set this service up after the account is opened. I believe transferring funds into Achieva is free, transfering out has a fee. I also have auto savings moving from RBC, which is done monthly and is at no charge as well.