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Meridian CU New Accounts 3.15% for 6 months
September 20, 2018
9:19 pm
miro
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3.15% from 2.8%

3.15% FOR
6 MONTHS
YOUR FIRST SAVINGS ACCOUNT ONLY

Link

October 12, 2018
4:24 am
Pennywise
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We added a bunch of money to our existing meridian savings account and the manager approved the deposit at the 3.15 percent rate f0r six months I also bought a 1 year gic at 3.25 percent.with money we don't need this year.
I like MERIDIAN local banking and great staff there.
Much better than our big CIBC bank, 30 years premium member. Useless people with no power to help you.

October 12, 2018
4:57 am
Top It Up
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YET, another FI where the 6-month offer ISN'T guaranteed ...

"Bonus Interest" is 1.65% for the Eligible Account. Bonus Interest is added to Meridian’s GTG HISA posted rate of interest as shown on Meridian’s website ("Posted Rate") to calculate the total amount of interest payable under this Offer. For example, Posted Rate of 1.50% on GTG HISA + Bonus Interest of 1.65% = the Offer rate of 3.15% (example uses interest rates current as of September 20, 2018). ... Any change to the Posted Rate will result in a corresponding change to the Offer rate.

October 12, 2018
5:32 am
Kidd
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Top it up, i believe the FI are saying. A + B = the promised 6 month promo savings rate.

So if "A" the posted rate goes up. Then "B" the bonus rate must go down. The promised promo rate remains a constant for the 6 month term.

October 12, 2018
5:51 am
Top It Up
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The last statement "Any change to the Posted Rate will result in a corresponding change to the Offer rate" makes NO mention of the Bonus Rate being adjusted accordingly to keep the offer rate whole IF the posted rate goes up or down.

October 12, 2018
6:40 am
Loonie
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Kidd is right, from what I know. There were threads in the past that looked into this. My recollection is that it was the intention of the FI to maintain the promised rate. It would be foolish of them not to as this would cause a lot of bad publicity.
At the same time, this is not a GIC. Extreme circumstances might lead to a re-evaluation, but I think it would have to be of the magnitude that the rate threatened the survival of the FI.

October 12, 2018
7:01 am
Saver Guy_2018
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Hello Pennywise, I totally agree with your comments on this post about CIBC. I could not have said it better myself.

October 12, 2018
7:44 am
Top It Up
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Pennywise said

Much better than our big CIBC bank, 30 years premium member. Useless people with no power to help you.  

Saver Guy_2018 said

Hello Pennywise, I totally agree with your comments on this post about CIBC. I could not have said it better myself.  

Perhaps you can cite for us an example of how/where the CIBC short shrifted you in their customer service!

October 12, 2018
9:29 am
bvishy
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October 12, 2018
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Greetings!
I'm a new member to the forum and was interested in signing up for the 3.15% promo for the HISA with Meridian. I was wondering if any of you folks who are Meridian members would be willing to help me with a referral.

Would require Member Name, Email Id & Phone #

I will be opening 2 savings a/cs, one for myself and another for my wife, so thats potentially $100 for referral for you ( & for me as well 🙂 ).

Please PM me with the details if interested.

Thanks much
bvishy

October 12, 2018
9:50 am
bvishy
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October 12, 2018
10:12 am
JenE
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May 24, 2016
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For info and Warning! Nowhere does the Meridian site say to provide your account number!

REFER A FRIEND AND YOU’LL* BOTH RECEIVE $50.
Receive $50 for each friend, family member or co-worker you refer to Meridian who opens an account and makes a minimum qualifying deposit of $1,000. Best of all, each referred friend will also receive $50 and the opportunity to take advantage of some amazing offers.

Referring Member Information: Name:
Phone: Email:

Referring Members: Simply complete the information above and forward to friends you wish to refer.
Referred friends: Redeem this offer at any Meridian branch. Visit meridiancu.ca/referafriend for details.

October 12, 2018
12:11 pm
bvishy
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October 12, 2018
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Great! Thanks so much for looking up and posting this information JenE.
I was just going with what I heard over the phone when speaking with the agent when I asked to schedule an appointment at the branch and inquired on how to avail the referral bonus. I honestly thought it was unusual as well to have to 'know' the account number of the referring member.
So all that is needed is the name & phone/email then. That is certainly easier to ask as well as provide from a forum member if anyone would volunteer to share!

Thanks again
bvishy

October 12, 2018
12:34 pm
Nehpets
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I guess the rationale for making this an "in branch" promotion, forces the referrer to be a client of the same branch as the referred new client so the referrer can be authenticated "in branch".

If this is the case, the promo is much more limiting than, say the promos of Hubert and Duca where the referrer's name is all that is required.

Given the volume of deposits being made by most members of this Forum, it would seem highly risky to share anything more than one's name in the interests of a promo bonus.

This is not a reflection on new member bvishy, but it would seem careless and potentially dangerous to share one's name AND account number.

Without going into detail, there are ways malfaisants collect fragments of information about an individual, using separate and unrelated online and other sources to put together a profile of an individual, for the purpose of identity theft.

As previously stated, this is no reflection on bvishy just a statement of fact given the proliferation of identity theft related to the internet.

Best way to take advantage of this promo, is to hook up with a friend who deals with the same branch you want to join and go in together.

Perhaps if bvishy mentions in what City s/he is located, and a local Forum member wishes to meet bvishy at the local branch or telephone the branch and speak to the branch manager to authenticate the referral, the concerns about risk could be mitigated.

October 12, 2018
12:55 pm
bvishy
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Since it is technically money that is going from Meridian's pockets, they don't want to make it too easy and they'd certainly want people to jump through some hoops to avail of such promos. Regardless, I completely get the concerns expressed by Nehpets. It would be quite a risk to share information viz. a/c # etc., which is why I'm still puzzled as to why I was told that over the phone by the agent.
Anyways, the branch I was intending to visit for opening the a/c was Mississauga, ON (@Erin Mills) and below is voucher JenE has directed be used, if anyone is interested in referring

MeridianImg-1.JPG

October 12, 2018
2:03 pm
Nehpets
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bvishy said .... It would be quite a risk to share information viz. a/c # etc., which is why I'm still puzzled as to why I was told that over the phone by the agent.....
 

It does seem odd, indeed! The coupon is a much more sensible way to go about it!

Meridian seems to employ junior and/or inadequately trained people in some branches, that sound like they make up what they don't know.

I am a client of Meridian, and deal with only one person at my local branch because I can count on that person's reliability.

Glad you found a satisfactory solution, bvishy!

I completely get the concerns expressed by Nehpets

Thank you for understanding!

No offense intended in my earlier admonition.

Stephen

October 12, 2018
2:37 pm
bvishy
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Nehpets said

Thank you for understanding!

No offense intended in my earlier admonition.

Stephen  

Not at all, none taken. sf-cool

Cheers!
bvishy

December 11, 2018
4:24 pm
smayer97
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Seems the 3.15% promo is gone as of about Dec 6, 2018.

Please write your comments in the forum.