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October 4, 2018
11:31 pm
Top Dogg
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Hi,

New to the forum but I have been checking the rates on here for the past year or so. This Ideal rate is really attractive. I'm currently using EQ Bank & Tangerine (for the 2.50% until November 30th) but I'm always a sucker for a better rate 🙂 I just have a couple of questions regarding Ideal. What is the maximum you can deposit/hold there that will be fully insured ie. can you have over $100,000 in their savings account? Does it cost anything to transfer to and from your Ideal Savings Account?

Thanks again,
Top D

October 5, 2018
7:11 am
Top It Up
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October 5, 2018
9:56 am
Nehpets
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Top Dogg said
Hi,

New to the forum.... can you have over $100,000 in their savings account?
  

Welcome to the Forum, TopD! Ideal Savings is a virtual credit union covered under the Deposit Guarantee Corporations of Manitoba.

Follow the link I provided for info. DGCM provides no limit on covered deposits, that can include foreign currency deposits (eg. $USD).

Though there is no limit, one should be guided by their own comfort limits for risk.

Stephen

October 5, 2018
5:25 pm
Save2Retire@55
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I think you got your answer but I wonder if you have an account with Meridian? If not, they have a 6 months offer for 3.15%. Opening took only couple minutes and linking the account took 2 business days.

November 6, 2018
11:21 pm
Top Dogg
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Top It Up said
https://idealsavings.ca/extras/faqs/

or

https://idealsavings.ca/contact-us/  

Thanks for the info. Much appreciated!

November 6, 2018
11:22 pm
Top Dogg
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Nehpets said

Welcome to the Forum, TopD! Ideal Savings is a virtual credit union covered under the Deposit Guarantee Corporations of Manitoba.

Follow the link I provided for info. DGCM provides no limit on covered deposits, that can include foreign currency deposits (eg. $USD).

Though there is no limit, one should be guided by their own comfort limits for risk.

Stephen  

Thanks for the welcome message Nehpets. Sorry for the late reply. I just realized that my post had gone through. I thought that moderator hasn't authorized it yet.

November 6, 2018
11:30 pm
Top Dogg
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Save2Retire@55 said
I think you got your answer but I wonder if you have an account with Meridian? If not, they have a 6 months offer for 3.15%. Opening took only couple minutes and linking the account took 2 business days.  

Thanks Save2Retire@55. I haven't heard of Meridian before. When is the offer good until or is it 6 months for the 3.15% from the day you sign up? Also, do they charge to do external transfers back & forth from other FI's as I do several transfers per month? Scotia Bank's rate of 3.00% looks good but I think they charge when you transfer.

Currently I have my savings in EQ Bank and Tangerine (I really like Tangerine's interface and their 'notes' feature) but Tangerine's 2.50% promo ends at the end of the month. I just got an email from Simplii Financial the other day about the 3.15% until Feb. 28/2019. So I'm not sure where to move my funds next.

Thanks for all the info, etc. Love this forum!

Top D

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