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2.6% from Oct. to Dec. 31, 2015
October 1, 2015
8:18 am
jgclghrn
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Here is the link to the latest PC Financial offer. As usual you have to enroll (by Oct. 31) to get it.

The not so obvious twist is that the "new" money has to be deposited during the enrollment period from Oct. 1 to Oct. 31 but interest on it is earned to Dec. 31. I didn't immediately catch on to this as the text used "enrollment period" instead of using dates.

2.6% offer

October 1, 2015
2:08 pm
Loonie
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Best to stick with the 3% deal from Tang, for those of us who got it, even though ends a little bit before end of Dec. - unless of course you have more than 100,000 kicking around looking for a home - although the Zag? deal is better considering it goes through March if I remember correctly.

October 1, 2015
7:27 pm
Shawguy
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I hate how you have to Call PC to activate...I hate calling them, so I probably won't for the $3 it would earn me over that period. lol

October 2, 2015
9:39 am
Yatti420
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I'm already using the Zag promo.. I got this email this morning..

October 2, 2015
12:36 pm
James
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Loonie said

Best to stick with the 3% deal from Tang, for those of us who got it, even though ends a little bit before end of Dec. - unless of course you have more than 100,000 kicking around looking for a home - although the Zag? deal is better considering it goes through March if I remember correctly.

Loonie, remember also that the Tangerine 3% offer doesn't apply to funds deposited to Tangerine now (you had to deposit by Sept 30 to receive 3% on the funds until November 30). So, it may make sense to use either Zag or PCF for any new deposits now. You probably knew that already.

SG: I agree the calling to activate is ridiculous.

October 2, 2015
1:11 pm
jgclghrn
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I agree James. However, there were at least 2 Tangerine offers. The one you quoted is the same one I have. Loonie probably has the older offer which may not have had any deposit time frame. Maybe he can elaborate.

October 2, 2015
10:17 pm
Loonie
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Yes, jgclghrn is right. I was referring to the slightly earlier Tang offer, which was not available to everyone. It applies to any money deposited in the savings account during the period the offer operates, which I think is 6 months. It runs to December and pays 3% throughout.
https://www.highinterestsavings.ca/forum/tangerine-bank/just-offered-3-at-tangerine-for-180-days/

Sorry for the confusion.

October 10, 2015
5:30 pm
Norman1
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SG said

I hate how you have to Call PC to activate...I hate calling them, so I probably won't for the $3 it would earn me over that period. lol

Often, if one waits a bit, President's Choice Financial's online banking web site will show a signup page for the offer when one logs in.

I got a signup page for the 2.6%-until-December-31 offer when I logged in a day or two ago. I clicked on the signup button. Tonight, I received a confirmation e-mail Confirmation: Your new interest rate is now in effect.

As jgclghrn reported, the fine print says the 2.6% rate is until December 31, but only applies to new money deposited between October 1 and October 31:

Offer Period: October 1, 2015 to December 31, 2015. To participate in the Offer, an eligible account holder must enrol between October 1, 2015 and October 31, 2015. Other accounts may be eligible for this offer. Ask for details.

The offer applies to all net new deposits made between October 1, 2015 and October 31, 2015, to eligible accounts, not to exceed (i) $500,000 in the aggregate, across all of an account holder´s Eligible Accounts, and (ii) the aggregate net new deposits to eligible accounts made between October 1, 2015 and October 31, 2015.
....

October 10, 2015
11:58 pm
Loonie
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I must say that it is weasel wording like this which has made me stay clear of PC so far.

If they wanted to be clear, they would have simply said the offer was on net new deposits made during the month of October up to 500,000 per client, and that it would pay 2.6% until Dec 31. That seems clear to me at least, and all fits into one sentence without much effort.

What ever became of the "plain language" movement?

October 11, 2015
9:36 am
Norman1
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I suspect that complexity of the terms is because President's Choice Financial wanted to address situations where money was simply transferred between one's PCF accounts. Such funds would certainly be "net new" to the receiving account. But, the funds may or may not be "net new" in the aggregate across all one's eligible accounts.

I think PCF intends to pay 2.6% only on money that is "net new" across all one's non-registered eligible accounts and not just "net new" to a particular account:

The Non Registered promotional interest rate of 2.6% (the "Promotional Rate") is a combination of the regular annual interest rate on an eligible account (President´s Choice Financial no fee bank account, Interest Plus™ savings account and/or Interest First® savings account), which is calculated on its full daily closing balance and paid monthly, plus promotional interest calculated during the offer period. The Promotional Rate will be calculated during the offer period on the portion of aggregate average daily closing balances across all of a primary account holder´s eligible accounts that exceeds the aggregate closing balance across the primary account holder´s aggregate eligible account(s), if any, on September 30, 2015. Promotional interest will be paid in January 2016 into a single eligible account held by a primary account holder. Rates may change at any time. Offer is non-transferable, cannot be combined with other promotional rate offers, and may be changed or cancelled at any time.

November 2, 2015
6:55 am
jgclghrn
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The offer has been extended. The new deposit window has been extended until year end.

2.6% offer extension.

November 2, 2015
8:36 am
2of3aintbad
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2.6% for registered accounts only? thanks but not appealing to me

November 2, 2015
1:01 pm
rqs
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jgclghrn said

The offer has been extended. The new deposit window has been extended until year end.

2.6% offer extension.

Does anyone know for sure whether this is a true extension of the Oct 1-31 offer or does one have to re-register for this?

November 2, 2015
2:16 pm
jgclghrn
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It appears that you have to re-register. The extension is to the window for deposits as well as to registered accounts. Non-registered accounts still follow the previous promo deal as far as I know. An on-line registration pop-up showed up this morning when I signed into my account. I don't have any registered accounts with PC Financial so I did not register.

November 4, 2015
6:43 am
Norman1
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The new offer only extends the previous offer for the RRSP and TFSA savings accounts. The offer for the regular PC Financial savings accounts remains unchanged.

This is from the confirmation e-mail:

Get ready to watch your savings grow. You're now earning 2.6%* interest until December 31, 2015 on new deposits into any of these registered accounts:

• Interest Plus™ RRSP
• Tax-Free Interest Plus™ account

...

The offer applies to all net new deposits made between October 1, 2015 and December 31, 2015, to eligible accounts, not to exceed (i) $500,000 in the aggregate, across all of an account holder´s Eligible Accounts, and (ii) the aggregate net new deposits to eligible accounts made between October 1, 2015 and December 31, 2015.

The Registered promotional interest rate of 2.6% (the "Registered Promotional Rate") is a combination of the current annual interest rate on an eligible account plus promotional interest calculated during the offer period. For each eligible account (President´s Choice Financial The World´s Best Registered Retirement Savings Plan (RRSP), Interest Plus™ RRSP and/or Tax-Free Interest Plus™ savings account), the Registered Promotional Rate will be calculated on the portion of the eligible account´s average daily closing balance during the offer period that exceeds the closing balance as at September 30, 2015. The Promotional interest will be paid in January 2016 to the account holder´s eligible account(s). If an account holder has multiple eligible accounts, the promotional interest for each eligible account will be paid separately into such eligible account.
....

November 5, 2015
5:37 am
Taxpayer717
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2of3aintbad said

2.6% for registered accounts only? thanks but not appealing to me

I am not surprised. Another thing that makes this offer not attractive is that it does not appeal to those that already maximazed their contributions and are left without any room to contribute more to their TFSA in 2015. Otherwise you will be fined with penalties, which does not make sense to make any contributionssf-frown. Offer would be more attractive if it started in January 1 2016.

December 6, 2015
9:33 am
dentgal
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i was at a PC branch yesterday and the 2.6 is for registered only.

December 14, 2015
11:49 am
Windmill
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December 14, 2015
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I checked to see what PC has offered in the past. It looks like similar percentage offers (2.5%) have been offered in January. I want to top up my TFSA but wonder if it's worth it now that there isn't that much time left until Dec 31. With that in mind I might just hang on to my pennies until January, and hope a new offer is posted at that time.

December 14, 2015
4:00 pm
Loonie
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I agree. There should be some competition for TFSA money in January. In any event, nothing much to be gained at this point.

January 5, 2016
3:37 pm
rhvic
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Has anyone yet seen the promotional interest for this campaign show up in your PCF account? It is now Jan. 5, 2016, and I have yet to see the extra interest.

Just wondering....

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