Meridian CU New Accounts 3.15% for 6 months | Page 3 | Meridian Credit Union | Discussion forum

Ed said

my go to guy there is mike.hamel@meridiancu.ca or 905-938-6490x3159. Mike won’t give you the run around and gets things done directly.  

Hi Ed, thank you for the contact at Meridian. My wife called and left him a message, because it was after hours.
We have just checked my wife's Hubert account and the money has NOT arrived, yet. It has been a full week since it left Meridian.
Our experience, excluding this one, is different from others. We both opened accounts with Hubert using snail mail (because the online attempt failed). We mailed the paperwork on May 8th and we got the welcome email and our member numbers on May 10th. That is 2 business days. Maybe it is worth mentioning that we paid about $11 for the mail; we requested a tracking number. I also had a Meridian TFSA account and transferred it to Hubert. The transfer took just under 2 weeks. It only took 2-3 business days between my TFSA funds left Meridian and showed up in Hubert. Excellent service!
But not in my wife's case. 5 weeks and counting. One week since the funds left Meridian. Meridian CSRs could not even tell us when the cheque was mailed (we called and also asked via the secure messages), not to mention the tracking number info.

Meridian to Hubert TFSA transfer - cash only - has completed. It took 5 weeks and one day. 7-8 days of no interest, as the funds were in transit. Many calls to CSRs. Not what we expected, but glad that it is now finalized.
For the record, my wife transferred her TFSA funds to Meridian for a 4 month promotion @ 3.25% sometime in February. The rate went down to 3.15% and then to 3.05%. 4 weeks or so before the promotion ended, we initiated the transfer out to Hubert. The funds were still at Meridian when the promotion ended, so for a few days the rate went down to 1.3% and then to 0% while the cheque was in transit for 7 days or so.
The conclusion is that it is not straightforward to transfer registered funds between FIs. Wondering why they do not allow me2me transfers for registered funds. That would be a nice improvement.

For future reference, if not mentioned above, the rate on this offer did decline during the course of the offer, to 3.05%. There was no announcement to this effect. They just did it quietly.

Loonie said
For future reference, if not mentioned above, the rate on this offer did decline during the course of the offer, to 3.05%. There was no announcement to this effect. They just did it quietly.  

Yes, many of these types of offers now include either partial or complete variable rates.

smayer97 said

Note that their offer is only for your FIRST savings account.

That said, does anyone now if it is possible to close your account/profile with Meridian and then be treated like a new customer down the road? If so, what is the time lapse for this to qualify?  

According to the Terms And Conditions, this offer is only available to clients who have not previously held a Good To Grow High Interest Savings Account in unregistered and registered plan types within the last 6 months.

For existing members who already have a HISA at Meridian, your Branch Manager MIGHT make an exception and allow you to be eligible for the 3% promotion, if you have not used another promo on your HISA in the last 6 months and/or maybe if your existing HISA account has been inactive or had no balance during the last 6 months. It costs nothing to ask!

GR said
For existing members who already have a HISA at Meridian, your Branch Manager MIGHT make an exception and allow you to be eligible for the 3% promotion, if you have not used another promo on your HISA in the last 6 months and/or maybe if your existing HISA account has been inactive or had no balance during the last 6 months. It costs nothing to ask!  

I zeroed out my GTG HISA account back in December, but because it was still open, a CSR said this morning that it was not an “eligible account” for the 3% promo. So, I asked her to close it and now I will be eligible for the next promotion in six months time. However, she said that I am still eligible for one of the eligible registered accounts.