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I want to open an account 100% electronically (i.e., without snail-mailing anything). Is this possible?
July 14, 2022
4:58 pm
piggybank
British Columbia
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I checked the HISA chart on this site half an hour ago and see that Achieva is on top with 2.2%.

So I tried opening an account online. When I got to the end, I got an email with this paragraph:

In order to process your account opening, we now require your signed application and initial deposit in the form of a personalized cheque made payable to yourself, mailed to Achieva Financial, PO Box 2729, Stn Main, Winnipeg, MB R3C 4B3.

I'd rather not waste money for a stamp and envelope and printing cost. Is there no way to open an account electronically (i.e. not snail mail)?

July 14, 2022
7:08 pm
Shawguy
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No there is not, they like the paper.

July 15, 2022
8:22 am
piggybank
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Shawguy said
No there is not, they like the paper.  

I called their phone number and spoke to a nice gentleman who said that it is indeed possible to avoid wasting money on postage and an envelope by using their mobile app.
But I won't continue with my account opening. Why? Because I see that accelerate financial has just become the hisa leader. And I have an account with them already

July 15, 2022
8:33 am
Norman1
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Could still be worthwhile depositing up to $6,000 with Achieva.

Achieva pays $1/month when you choose to receive your documents electronically. $1/month or $12/year on $6,000 is an extra 0.2% per annum.

Their 2.4% plus 0.2% is the 2.6% that AcceleRate is paying.

July 15, 2022
8:42 am
cgouimet
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Norman1 said
Could still be worthwhile depositing up to $6,000 with Achieva.

Achieva pays $1/month when you choose to receive your documents electronically. $1/month or $12/year on $6,000 is an extra 0.2% per annum.

Their 2.4% plus 0.2% is the 2.6% that AcceleRate is paying.  

piggybank said

I called their phone number and spoke to a nice gentleman who said that it is indeed possible to avoid wasting money on postage and an envelope by using their mobile app.
But I won't continue with my account opening process. Why? Because I see that accelerate financial has just become the hisa leader. And I have an account with them already  

Perhaps not no 1 today but maybe perhaps who knows when they might be No 1 again and you will have wished you had done the paperwork. If you like generally like what you see and hear about Achieva, go through the process, set-up transfer links and deposit $1. When you like the rates, move $2 or more ...

CGO
July 15, 2022
9:10 am
piggybank
British Columbia
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Norman1 said
Could still be worthwhile depositing up to $6,000 with Achieva.

Achieva pays $1/month when you choose to receive your documents electronically. $1/month or $12/year on $6,000 is an extra 0.2% per annum.

Their 2.4% plus 0.2% is the 2.6% that AcceleRate is paying.  

Achieva gives the same rate (2.6%) as Accelerate ... with the catch you write about.
I'd be willing to do all that if Achieva beats Accelerate, not just matches it.

July 15, 2022
9:12 am
piggybank
British Columbia
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cgouimet said

Perhaps not no 1 today but maybe perhaps who knows when they might be No 1 again and you will have wished you had done the paperwork. If you like generally like what you see and hear about Achieva, go through the process, set-up transfer links and deposit $1. When you like the rates, move $2 or more ...  

Why "$2 or more"? Why did you not say "1 cent or more"? Is the minimum transfer amount a toonie?

July 15, 2022
9:29 am
cgouimet
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piggybank said

Why "$2 or more"? Why did you not say "1 cent or more"? Is the minimum transfer amount a toonie?  

Nothing like that ... When you like the rates (vs elsewhere) move as much as you want ...

CGO
July 15, 2022
9:32 am
piggybank
British Columbia
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cguoimet,
What's the significance of the "$2" in your comment? Was it just an arbitrary number?

July 15, 2022
9:51 am
cgouimet
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piggybank said
cguoimet,
What's the significance of the "$2" in your comment? Was it just an arbitrary number?  

cgouimet apparently "unsuccessfully jokingly" suggesting that once your account is open and idling with $1, whenever the Achieva rates look good to you, move as much as you want ...

CGO
July 15, 2022
10:08 am
piggybank
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Okay. I understand

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