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Account Rates
March 22, 2019
10:21 pm
Vatox
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Okay, now Meridian is burning my retina! Just looking at the rate on the HISA chart. I only have one good eye left as ICICI burned the other one.sf-yell

March 22, 2019
10:53 pm
doug
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LOL, Vatox! Timely rate drop...they're now fully 0.35% below the BoC's Policy Interest Rate of 1.75%, which seems like a reasonable baseline for determining what's "competitive" in terms of HISA rates. sf-cool

https://www.highinterestsavings.ca/forum/tangerine-bank/tangerine-has-dropped-savings-rate-from-1-25-to-1-20/

I do think, at a minimum, we should remove Meridian Credit Union and Canadian Tire Bank from the regular HISA chart...we can still keep their "profiles," "forums," and include them in the "promos" and/or "GIC chart," where applicable, but in terms of regular, posted rates, 1.40-1.50% isn't cutting it. Perhaps this could be "step one" for Peter before formalizing what "competitive" means? After all, when Motus Bank launches, while people can still join Meridian Credit Union, it seems to me that they'll likely offer a premium rate to Motus customers.

Cheers,
Doug

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