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Targeted 6% HISA offer YMMV
September 6, 2023
6:54 am
COIN
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"So maturing GIC going into the chequing account first, and then transfer it over to savings. That amount qualifies as new money and earn any promo rate you have at the time. If its a straight deposit from a maturing GIC into the savings, it wont count."
Interesting, so it is not what you do but how you do it.

Logically, the funds from a matured GIC should be considered new money but Tang and logic isn't always the same.

September 6, 2023
9:53 am
HermanH
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COIN said
Logically, the funds from a matured GIC should be considered new money but Tang and logic isn't always the same.  

HSBC doesn't view it the same way, either. They look at the entire sum of funds under management at their bank to determine what is new money or not.

September 6, 2023
11:00 am
semi-retired
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Received the 6% offer yesterday.

September 7, 2023
12:23 am
HermanH
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Household member got the 6% offer, so I called and asked for it to be extended under the Same Household policy. Tang refused and said that it was specifically for targeted members, only.

Switched all our money to the other householder and asked them to cancel my current 5.5% promo offer. They refused and said that I could just move all my money out and let the offer expire on its own at the end of 2023. I told them that I had done it before, within the last two months or so. They said it could not be done.

Called back later and asked them, again. CSR said that e-mail would be sent to back-office, since she could not do it at her station. The only way I would know if it had been done or not would be to call back and sit on hold for an hour to find out.

September 7, 2023
5:03 am
Alexandre
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HermanH said
... asked them to cancel my current 5.5% promo offer ...

CSR said that e-mail would be sent to back-office, since she could not do it at her station. The only way I would know if it had been done or not would be to call back and sit on hold for an hour to find out.  

You can check online under Account Details if promo offer still active.

September 7, 2023
10:23 am
HermanH
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True, but I only have phone access for my accounts.

September 7, 2023
1:15 pm
victor6433
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September 7, 2023
1:20 pm
victor6433
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HermanH said
Household member got the 6% offer, so I called and asked for it to be extended under the Same Household policy. Tang refused and said that it was specifically for targeted members, only.

Switched all our money to the other householder and asked them to cancel my current 5.5% promo offer. They refused and said that I could just move all my money out and let the offer expire on its own at the end of 2023. I told them that I had done it before, within the last two months or so. They said it could not be done.

Called back later and asked them, again. CSR said that e-mail would be sent to back-office, since she could not do it at her station. The only way I would know if it had been done or not would be to call back and sit on hold for an hour to find out.  

5.5% vs 6% if you have $100000 the difference is like 4 bucks more a month if that.. thinking like 3... You probably lost money for transferring to do that.. you have a month or 2 left..

September 7, 2023
1:27 pm
MG
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victor6433 said

5.5% vs 6% if you have $100000 the difference is like 4 bucks more a month if that. 

Check your math. On $100K, the differential is $500 or $41.67 per month.

September 7, 2023
1:33 pm
victor6433
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MG said

victor6433 said

5.5% vs 6% if you have $100000 the difference is like 4 bucks more a month if that. 

Check your math. On $100K, the differential is $500 or $41.67 per month.  

Thats correct so at 5.5% $38.19 a Month.. so its worth the 3 dollar headache...

September 7, 2023
1:39 pm
cgouimet
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victor6433 said

Thats correct so at 5.5% $38.19 a Month.. so its worth the 3 dollar headache...  

But if the rwo family members have a joint TNG account, the transfer is immediate. No hold. No next day execution. No transit loss. That's what we do.

If the two family members do not have a joint account, there might be a lag but I doubt it since it's one FI.

CGO
September 7, 2023
1:41 pm
victor6433
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cgouimet said

But if the rwo family members have a joint TNG account, the transfer is immediate. No hold. No next day execution. No transit loss. That's what we do.

If the two family members do not have a joint account, there might be a lag but I doubt it since it's one FI.  

So sit on the phone for hours too gàin 3 bucks.. Ok then

September 7, 2023
1:50 pm
victor6433
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September 7, 2023
2:14 pm
HermanH
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cgouimet said

But if the rwo family members have a joint TNG account, the transfer is immediate. No hold. No next day execution. No transit loss. That's what we do.

Exactly how I did it.

September 7, 2023
2:30 pm
cgouimet
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victor6433 said

So sit on the phone for hours too gàin 3 bucks.. Ok then  

Went online on my account. New insight. New offer @ 6.0% for 4 months. Cool. Accept. Logoff. Elapsed time 60 seconds.

Spouse login. No new offer. 2 months left @ 5.25%. Move all her HISA $ to the joint HISA where I am primary. Elapsed time 60 seconds.

Transfer instantaneous. No cost. Total elapsed time 2 minutes. No phone used. No wait time.

OK then?

CGO
September 7, 2023
3:28 pm
victor6433
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cgouimet said

Went online on my account. New insight. New offer @ 6.0% for 4 months. Cool. Accept. Logoff. Elapsed time 60 seconds.

Spouse login. No new offer. 2 months left @ 5.25%. Move all her HISA $ to the joint HISA where I am primary. Elapsed time 60 seconds.

Transfer instantaneous. No cost. Total elapsed time 2 minutes. No phone used. No wait time.

OK then?  

My point is... It's for 3 bucks more...
Me "myself" would ride it out..
Would never bothering calling in to call and cancel for a 0.50% raise for what 1 month or 2.. My opinion.

September 7, 2023
3:39 pm
cgouimet
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The Rock said

My last offer ended June 30 and no offers since. I think I have the record for longest drought.  

The use of the phone is yours ...

CGO
September 7, 2023
4:24 pm
victor6433
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cgouimet said

The use of the phone is yours ...  

Ok then.

September 7, 2023
5:17 pm
savemoresaveoften
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victor6433 said

My point is... It's for 3 bucks more...
Me "myself" would ride it out..
Would never bothering calling in to call and cancel for a 0.50% raise for what 1 month or 2.. My opinion.  

If your deposit amount only result in a $3 diff in interest based on a 50bps diff in rates over a 1 month period, that amount should not even be put in a savings account to begin with...

September 7, 2023
5:40 pm
cgouimet
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savemoresaveoften said

If your deposit amount only result in a $3 diff in interest based on a 50bps diff in rates over a 1 month period, that amount should not even be put in a savings account to begin with...  

I took the 6% because I don't know what better option I'll have for 3 months after spouse's 5.25% ends. It's already been extended twice. But, I didn't cancel it. It's still there. I don't know why Herman is wanting to close it. I'll probably use it to park some Hubert GIC's coming due before Sep 22 lowering my footprint there until that dust at least partly settles.

CGO
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