Online transfer out limits | General comparisons | Discussion forum

Someone suggested moving the funds to matching chequing account and moving out through writing a cheque. This only applies to FIs that have chequing accounts.

Meridian has maximum of 20K at a time, but you can do it repeatedly. I don't know if there is an ultimate max. but don't think so.

Of course, three's nothing to prevent any of them from changing the rules.

Loonie said
Meridian has maximum of 20K at a time, but you can do it repeatedly. I don't know if there is an ultimate max. but don't think so.

Of course, three's nothing to prevent any of them from changing the rules.  

This is from an email I received yesterday from Meridian Customer Service:

Please note that transferring funds between external accounts will take up to three business days to be completed. Any transfers to another financial institution scheduled to take place in the future must be set up more than three business days before the start date. Funds set to be transferred at a future date must be in your account at least three days prior to the transfer.

Additionally, there is a $10,000 daily limit for Money Mover transfers. If you do wish to transfer more than this daily limit, please call our Contact Centre directly at 1-866-592-2226 and one of our Representatives would be pleased to assist you.

Our hours of operation are: Monday to Friday 8:00 A.M. to 12:00 A.M EST Saturday 8:00 A.M. to 8:00 P.M EST Sunday 12:00 P.M. to 4:00 P.M EST Thank you, we appreciate your Membership.

Natasha W.| Contact Centre Representative Meridian™ 531 Lake Street 2nd Floor St Catharines, ON L2N 4H6 Tel 1-866-592-2226 Fax 1-800-265-6306 meridiancu.ca

EQ Bank's Savings Plus account and Alterna Bank's eSavings account have free bill payments. One can use bill payment to push funds out to a brokerage account that can accept deposits by bill payment (like Scotia iTRADE, BMO InvestorLine, or Raymond James).

Another member reported that Alterna Bank allows up to $60,000 per bill payment.

Scotia iTRADE has linked bank accounts. So, one could push received funds in a Scotia iTRADE brokerage account out to a bank account.

Loonie said
However, I just moved out 30K in 3 separate transactions a few minutes ago and did it online. But now they appear to have cut me off.
Back in March, I was able to move out 50K in 5 transactions, one after another. I don't know what's going on there but it's very annoying - along with the fact that they just dropped their rate as the BoC rate went up.
Poor show. I'm not a happy "member".  

Have you called the customer contact center 866-592-2226 for assistance to complete the transaction(s)?

I find that calling the branch manager at the local branch where I have accounts / GIC's that the manager has discretion to override some policies.

Will be interesting to hear if and how you succeed in resolving the problem.

Stephen

Bruford said

Meridian now has a $10K/day limit.
No problem to transfer in as much as you like, but just try and remove it and they clamp the doors tight. Never again Meridian will you get my deposits.  

$10k is only online. If you call them and speak to a rep, they can accommodate the amount you want.

I did that yesterday.