Tandia Wonderfulrate - new money in new HISA account earn 3% until March 31st 2022 | Page 2 | General comparisons | Discussion forum

canadian.100 said

Heavy on the service fees. Does it mean that every transfer out/withdrawal costs 1.50? If so, the 3% will not end up being 3% after all these service fees - even to withdraw or transfer out. Buyer beware!  

At 3%, I would think most people would want to keep the money there and not withdraw much or often.
If you are going to have a lot of transactions, you should keep that money somewhere else where transactions are free. It may pay no or poor interest, but you will have a clear slate for the 3% part. This account is for people who actually want a high interest savings account in which to save their money and have it accessible for emergencies, who are waiting for a good GIC offer, making a major purchase in a month or three, paying big tax bill, etc.
I don't see a problem. Isn't this what we normally do?

For existing clients, it might be easier and quicker to open the new HISA by logging in to your account first and then selecting option to open a new account there.

In 115 days, the interest landscape will have changed, and I'll deal with whatever comes at that time. When I locked with Tandia a 3year GIC @2.50% on 01sep2021, it looked great. For this 3% promo, I opened a new account AT THE BRANCH, thus it was instant approval and deposit. Sorry not all live driving distance.

mustang said
Anyone else having trouble creating their account on line?
I only get as far as email and password, then they give me an application id-- then I'm stuck on that page-- can't proceed further  

I opened the wonderfulrate account today online, at the ID verification it gave me an option to link with an FI of choice, I picked Tang and after a min it linked to Tang with all my personal info pre-printed on screen and it also pulled $525 (500 min deposit + 25 membership fee) conveniently from Tang chequing account. The process seems pretty smooth.
It gave me an application ID but apparently I have to wait for approval before I can log in. Looking forward to bring in more funds in a few days.

savemoresaveoften said

if it only costs me $1.50 to transfer out Apr1 while earning 3% for the next 100 days, I am ok with it 🙂
Like others said, whoever putting in money now most likely wont touch it until Apr1 anyway.  

Of course the funds will remain there until April 1. Agent indicated a $5 charge to move the funds from this special rate HISA to an external linked acct so it may be more than $1.50 listed in the general service charges in the event a transfer is made before end of promo. This special rate HISA ends at the end of the promo - they will automatically transfer the money to another type of Tandia Savings acct with a low interest rate.
No doubt most people here will move their money out of Tandia on April 1 to a "Wonderful rate" elsewhere - and the beat goes on.

savemoresaveoften said
Will see how it goes on Apr1. This current gic rates seem competitive, so maybe some of the money goes to this GIC when promo rate ends.  

Tandia's present GIC rates are:
1 year 1.05%
18 month 1.25%
2 year 1.6%
3 year 2.1%
Nothing special there........

GR said
Tandia currently has a promo on 6 month GICs at 1.70% p.a. for non-registered and registered funds.   

I actually considered the 1.70% for my non-register funds but was advised the funds are locked in for the full 6 months.

COIN said

I actually considered the 1.70% for my non-register funds but was advised the funds are locked in for the full 6 months.  

Yup - 1.7% for 6 mth GIC very good ……the agent said Tandia hopes u will buy their long term GICs once these hot promos end.
I had a number of 3% Short term a few yrs ago and the FI (not Tandia) tried hard to move me into lower rate GICs on maturity.
These promos are loss leaders.

Does anyone know Tandia wonderfulrate account number looks like? (for linking with Tang account)

I found on the internet the following: (not sure if it is correct)
transit #: 00522
Institution#: 828
Account #: xxx member number xx

My account number has the prefix xxx(3 digits) and the suffix xx(2 digits). I wonder if the account number includes all those prefix and suffix for linking to an external account.

If Tandia gets too much money too quickly, would they terminate the promotion earlier than December 17th? I remember DUCA did this once.