Canadian High Interest Savings Bank Accounts

for me I would be benefiting more with the 5.5% that I signed up for than a lower 5.0% plus one deposit free of $20. I read it somewhere in this forum though but not too confident about it but someone said that after our 90 days, is it really true that the money transferred into our savings account will be entitled to the new 5.0% promo??? so for me, i would get another month of 5.0% instead of the regular rate(since their new promo ends at the end of June). anyone have any evidence to that? If this is not the case, are these promos only entitled to people that have never opened up a savings account at CTFS? I see in our acct that we can "open" another savings account, so does that mean then we are entitled the promo if we open another savings acct?

Just an update. I received a letter from CTFS stating that, for every $ we transfer into our existing accounts with them, between 1 Oct – 31 Dec 2007, we too will receive the 5.5% rate! Basically, they are doing what ING did this summer, with the big difference being that of their FIVE point FIVE interest rate!!!!! Afterwards, they will revert back to their regular 4% rate (ie in 1 Jan 2008).

Yee-haaaaaaaaa! Perfect timing cause that HSBC 5% rate special is about to end in a week, and I can't stand their website's design and accessibility!

I am aware about that but this was one an individual said earlier last year which I am sure their conditions of the promo policy did not change but they still entitled existing customers the promo rate. I just wondered if there was any truth to this.

Let's hope that person was new to the customer service position and that she/he only read what was on the website instead of actually knowing the "inside" functionality of these promos. you said that as an existing customer, u still got the promo, did you open another account or ur existing account was just entitled to the promo?

Stella said:

you said that as an existing customer, u still got the promo

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This was back when they offered 5.5% around Oct-Dec. After looking at the mail I received, the promotion was for new money and not limited to new customers.

For the 5.0% promo that started this month, it is only for new customers.