Meridian 1y GIC going up to 3.25% starting Sep 21, 18 | GIC Discussions | Discussion forum

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Meridian 1y GIC going up to 3.25% starting Sep 21, 18
September 20, 2018
1:06 pm
savemoresaveoften
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As the title says, happy saving !

September 20, 2018
3:20 pm
Nehpets
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savemoresaveoften said
As the title says, happy saving !  

Where is this offer advertised? Email....website? Could you provide a link or repost the notification?

I have not received an email notification (am a Meridian client) and cannot find anything on the website.

Stephen

September 20, 2018
5:16 pm
savemoresaveoften
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I was at a branch today to park some money into the 1y 3% promotion. Rep told me rates go up to 3.25% tomorrow. So I happily deposit my cheque into the savings account for a day and they will issue GIC for me tomorrow.

September 20, 2018
5:41 pm
Loonie
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If Meridian's current practices continue, a deposit maturing in a year could at that time be held against you in terms of trying to get another good offer, due to their preference for "new money only" offers.
Accordingly, I am only accepting five year offers from Meridian (when they suit my needs). I'm hoping that in five years they may have changed that policy. If not, they can either make an exception or lose my deposit.

September 21, 2018
5:11 am
Nehpets
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September 21, 2018
9:44 am
Brimleychen
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I also use the above link and try to open a new GIC for 5years and it gives 3.75%. But they don’t allow the existing member to have it. This CU is sucked

September 21, 2018
11:47 am
gicjunkie
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Brimleychen said
I also use the above link and try to open a new GIC for 5years and it gives 3.75%. But they don’t allow the existing member to have it. This CU is sucked  

Nowhere in the conditions does it say the offer is only available to new members. Call the CU directly. Sometime the websites are a bit dysfunctional.

Something extra to consider, for those of you with money already on deposit here, is that if you have a good relationship with someone at your local CU, they may ignore the "new money only" rule.

September 21, 2018
12:13 pm
savemoresaveoften
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Brimleychen said
I also use the above link and try to open a new GIC for 5years and it gives 3.75%. But they don’t allow the existing member to have it. This CU is sucked  

I am existing member and certainly able to get that rate. New money is defined as money not there in the last 6 months. As long as it meets the criteria, existing member can enjoy the promotion rate for sure.

September 22, 2018
3:21 am
hotmony
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Will they do a rate adjustment up a quarter point to 3.25 for those who previously locked into 3% on the 1yr?

September 22, 2018
12:01 pm
Brimleychen
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savemoresaveoften said

I am existing member and certainly able to get that rate. New money is defined as money not there in the last 6 months. As long as it meets the criteria, existing member can enjoy the promotion rate for sure.  

I understand we can call them and ask( beg) them to get the better rate. But normally I will avoid these market traps. They don’t treat the customers consistently.

September 22, 2018
12:17 pm
savemoresaveoften
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hotmony said
Will they do a rate adjustment up a quarter point to 3.25 for those who previously locked into 3% on the 1yr?  

As long as within cooling period 7 days or 10 days (can’t remember exactly), they will match higher rate for sure. Will need to cancel existing one and book new one. They did that for me before but do lose 1 day of interest but still better off overall

September 24, 2018
11:09 am
Twotons
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I deposited funds via Meridian app/photo of cheque on Thursday, funds withdrawn on Friday and still no credit at Meridian. Meridian's development department is still trying to resolve the matter. lol.

September 24, 2018
12:47 pm
Loonie
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Be prepared to wait.
I'm still waiting for a GIC that should have been processed Sept 19. I am well known to them and there ought not to have been any delay. My cheque was deposited Sept 15 in person. Still no action on the GIC. I am told it will be backdated. No response to my email sent last night.

September 24, 2018
8:30 pm
maxb
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Money has been transferred and they said they will backdate it to the day of the transfer (saturday) since they didn't have the staff in on Monday to handle my request. We'll see, but got to love that 3.25....sf-embarassed

September 25, 2018
11:50 am
Twotons
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Twotons said
I deposited funds via Meridian app/photo of cheque on Thursday, funds withdrawn on Friday and still no credit at Meridian. Meridian's development department is still trying to resolve the matter. lol.  

Update: Funds credited on Monday with Monday's date. The call centre contacted me at the end of the day Monday to inform me that the issue was resolved.
Further update: Meridian went back and set the effective deposit date as Thursday without asking. It was an unexpected hiccup but it was all resolved.

September 25, 2018
12:26 pm
Loonie
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My GIC issue has been resolved.

September 30, 2018
10:30 pm
Loonie
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I just noticed that this offer, unlike the five year offer, defines 'new money" with a 30 day window, not six months.
https://www.meridiancu.ca/Meridian/media/images/PDFs/1-Year-GIC-Terms-and-Conditions.pdf

October 1, 2018
4:56 am
Nehpets
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Loonie said
I just noticed that this offer, unlike the five year offer, defines 'new money" with a 30 day window, not six months. 

Loonie,

Nevertheless, there may be some flexibility (workarounds) at the branch level depending on "circumstances"....sf-wink

October 12, 2018
4:15 am
Pennywise
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Nehpets said

Where is this offer advertised? Email....website? Could you provide a link or repost the notification?

I have not received an email notification (am a Meridian client) and cannot find anything on the website.

Stephen  

I went into my branch yesterday and the manager approved my new cash to existing account at 3.15% and for 6 months.I also bought a 1 year gif for 3.25% nice rate for shorter term in growing interest rate environment

October 28, 2018
5:21 pm
hotmony
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Still runnin the table on this one..

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