October 29, 2017
December 12, 2009
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.
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.