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Consider the non-interest benefits
September 16, 2020
9:02 am
ottawa
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Forum Posts: 39
Member Since:
July 7, 2020
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Achieva doesn't have the greatest rate at 1.50%, though by standing still they seem to be moving up the chart. 🙁 However I wanted to point out 2 things that make it possibly worth opening an account.

1. Referral bonus, obviously there's a thread here for this but it's $25 each for opening an account with $250+ and staying open 1 month. Referee can't be named on an Achieva account in previous 12 months, so you could do this about every 13-14 months, depending how long it takes to get the bonus and get your account closed.

2. Bonus for taking eStatements. They pay $1/mo if you opt for electronic statements. If you're thinking of closing account after a month, this is an alternative. Don't think it requires a minimum balance. See "Low Fees" on this page https://achieva.mb.ca/why-achieva

In effect, you can either get $25 on $250 every 13-14 months by closing and opening repeatedly (using a process that belongs to the turn of the century), or you can get $12/yr for no effort except stopping the account from going dormant.

For me, churning accounts every 14 months is too much work for $50 (assuming the referral comes from within the family) but I'm happy to collect $12/yr.

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