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Email this8:49 am
September 11, 2013
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I got the 1.75%. I phoned and said I heard some people got 2.25% and the friendly guy said he'd heard something about that too, that "they" (i.e. some other people at PC that he didn't know) were offering a different rate to some customers. I said I won't move any money their way at 1.75% but at 2.25% I'd move $300K into our 3 accounts, he said (in effect) that's nice to know, I said tell the 2.25% people at PC to get hold of me if they're interested, and we parted as buddies. I don't expect to hear from them, I got my confirmation email re the 1.75% rate.
4:13 pm
October 11, 2015
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Wow--as Sally Field said: I guess they like me!!
(see offer below)
We† have a special offer just for you. You can earn 2.25% interest* on new deposits made before August 31, 2016 into your Interest Plus™ savings account.
11:18 am
June 29, 2013
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Here is the email response from PCF re my question to them specifically whether the May 31 balance in my Chequing Acct can be moved to Savings and would be eligible for the bonus.
Dear xxxx
Thank you for taking the time to write to us.
I can confirm that the bonus interest rate is on new deposits into your savings account. This is calculated by determining the balance of your savings account at the beginning of the offer period, you will earn the bonus interest on all "new" deposits to savings, which are more than the original balance.
So, yes, you are able to contribute to your savings from your chequing to earn the bonus interest rate.
Please ensure that you select "sign me up" from the original offer, for more information please contact Telephone Banking at 1-888-723-8881. Assistance is available 24 hours a day, 7 days a week, 365 days a year. If you are calling from abroad, the number is 1-416-223-0263. Collect calls are not accepted.
Your feedback is important to us. We invite you to take a quick survey to share your experience and feedback on this interaction. Please click here to complete the survey. Use the case ID xxxx for your survey.
Thank you for using President's Choice Financial.
4:29 pm
May 28, 2013
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As mentioned before, I got the 1.75% rate and got the confirmation email about this. I then emailed PCF asking them to give me 2.25% instead, since I heard that was available. Their reply said I need to phone a rep to discuss this, which I did. The result of course was inevitable - they would not tell me why I was given 1.75% and not 2.25%, but they also said they could not offer me the higher rate. I explained that I would then be moving some of my recent deposit over to EQ at 2.25%, but this did not change their response either.
One wonders what their parameters are for offering one rate over an other. I've been a PCF customer for well over a decade, with balances often near 100K, but that does not seem to count with them.
6:33 pm
September 11, 2013
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Similar for me. When I got my 1.75% rate email confirmation I sent it back saying I've changed my mind because I've heard some folks are getting 2.25% so I'll leave my money elsewhere. I got an email back saying "Jenn" wanted to "escalate" this for me and I could either send her my legal name, postal code and contact phone number or else call in and ask for a supervisor. I did the latter and the supervisor (sounded like a teenager, maybe a 20-something) said there was nothing he could do for me at this time. So I asked why I would have been directed to spend some of my time calling in to ask to speak to a supervisor just to be told again what I already had been told. He had no answer. I've been a client since near the beginning, only have substantial money there when rates are at or near the best.
7:24 pm
October 21, 2013
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thanks for posting the response you got, Brian.
4:57 am
January 7, 2016
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Everybody gets the answer "no" when they ask for 2.25% rate. I have been told that rate is reserved for "best, loyal customer only" and since I have just about $9 in the saving account 1.75% is very generous on their part. The fact I could transfer almost 100k tomorrow if they offer me 2.25% did not have any effect. So i guess I will stay " not loyal' costumer " for some time to come 
6:48 pm
April 6, 2013
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Thanks, Brian and jgclghrn for sharing the responses from PC Financial. It looks like it may have been a learning experience for their telephone agents as well.
jgclghrn said
I called PC Financial last night and was told they will compare a snap shot of all your accounts (eligible or not for the offer) on May31 to determine if you have transferred new money into the eligible account. So for example if you had $0.00 in your chequing account on May 31 and deposited $1000 on June 1 and then transferred this to an eligible account you would get the bonus interest on the $1000.This would also seem to prevent one from transferring money out of a chequing account to another institution and then directly depositing it to the eligible account.
Brian said
I just phoned PCF - the agent said the money in the Chequing is not included in the eligible or existing account definition - only savings were such. He said that the money in Chequing would be considered additional deposits if one moved it to Savings. So you don't need to move to an outside account first and then back to Savings - just move the money from Chequing to Savings. (We assume of course the PCF agent gave me the correct info.)
Brian said
Just want to advise I called PCF today (a few days after my original call outlined above) and asked this agent the same thing - Is the balance in chequing acct included in the base/or starting balance before the additional funds are added for the bonus interest? He said he would check with his supervisor since he was not sure - he came back and said yes, the balance in chequing forms part of the base/starting balance before you get the bonus interest on additional funds brought into the Savings acct only. So I received the wrong answer in the earlier call - I am glad the agent today actually checked with someone else since he was not sure himself.
….
Brian said
Here is the email response from PCF re my question to them specifically whether the May 31 balance in my Chequing Acct can be moved to Savings and would be eligible for the bonus.Dear xxxx
Thank you for taking the time to write to us.
I can confirm that the bonus interest rate is on new deposits into your savings account. This is calculated by determining the balance of your savings account at the beginning of the offer period, you will earn the bonus interest on all "new" deposits to savings, which are more than the original balance.
So, yes, you are able to contribute to your savings from your chequing to earn the bonus interest rate.
….
5:29 am
January 20, 2016
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Joebart said
Everybody gets the answer "no" when they ask for 2.25% rate. I have been told that rate is reserved for "best, loyal customer only" and since I have just about $9 in the saving account 1.75% is very generous on their part. The fact I could transfer almost 100k tomorrow if they offer me 2.25% did not have any effect. So i guess I will stay " not loyal' costumer " for some time to come
They are so "sweet" 
and probably because some people still think the banks are doing us a favour by offering a small piece of interest... forgetting the interest they are charging us never went down accordingly!
10:54 am
May 28, 2013
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With August 31 rapidly approaching, it is time to pull monies out of PCF to reduce the balance at month end to a low number, in hopes of a new offer from PCF in September for a better rate on new deposits. I'll park my funds at Hubert in the meantime.
11:18 am
May 19, 2016
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seems like a good strategy. I've transferred funds out of PC and Tangerine into EQ and Luminus for now.
Frankly don't expect anything over 2% from either of them...let the games begin!
3:56 pm
October 11, 2015
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I've tried that tactic in the past and got stung--even when i moved the money out wayyyy before the date.
Sept 1st today--so far no new offers from PC or Tanga....anyone heard anything???
i'm thinking of parking in Home Trust/Bank now that they have joined a real bank. Now there is twice the CDIC protection. And have accounts with my kids' names for additional CDIC protection. They are offering 2.4 on 2 years. Don't think i'll beat that anywhere.
7:21 pm
October 21, 2013
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I'm thinking very seriously of not bothering with Tang any more. I so much detest the necessary bickering that they put us through, that I ask myself if it's worth it. Increasingly, the answer is "no". I can do as well or almost as well elsewhere without the bickering, and I am willing to take a small cut in order to avoid it. I guess you could call it a "lifestyle choice".
They would probably have to offer at least 2.25% in savings and also significant improvements in some of their other rates, most of which are abysmal, in order to get me interested again.
For 3%, I would definitely go back to them, but that seems very unlikely. That's my "cost" of putting up with BS.
They have never refused me a bonus rate. I have been getting at least 2% for some time and I generally find their customer service, statements etc very good, better than most. They are good with telephone banking too, which I like as I don't have or want a smartphone. I just hate the begging process with a passion.
I have been with them/ING since about 1998 and recommended them to several other people, many of whom opened accounts, over the years. Between me and my spouse we have had a lot of money there in the various categories. Bit by bit, over the last couple of years or so, we have made decisions to move accounts out of there and have not started any new ones. At this point, it would take a lot to reverse this trend, I think. Last time around, although offered 2%, we moved a large amount of the account anyway because of better deal elsewhere. We have not done that before, so it will be interesting to see if this affects the next offer.
5:38 pm
September 4, 2016
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Presently, PC Financial offers 2.25 % on new savings account deposits until Dec. 31/2016. Maximum amount is $500,000.
9:25 pm
April 6, 2013
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windischer said
Presently, PC Financial offers 2.25 % on new savings account deposits until Dec. 31/2016. Maximum amount is $500,000.
I think that news is big enough to have its own topic 2.25% on new savings account deposits until December 31, 2016.
6:24 pm
October 11, 2015
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Loonie, they didn't offer me the 2% to keep my money there.....
so out it goes......
that's why i'm putting most of it at Home Trust--i won't likely be offered more than the 2.4 or 2.5 at Home Trust, and it's just easier to park it and forget it....
I was thinking of trying Alterna, but after reading about the problems of taking money out, i'll probably settle with 1.5 at Scotiabank for the cash that I want to keep handy for emergencies!
10:05 pm
October 21, 2013
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Hi dentgal,
As you may know, Oaken has 30 and 90 day fully cashable GICs, currently at 1.75 and 1.85%. You could put your emergency cash there, since you are already dealing with them anyway. I'm sure they'd be happy to roll them over when due if you don't need the money at that time. For that matter, they have the savings account at 1.75%.
Every little bit helps, but it depends of course on how big your stash is.
I'm pretty sure there is no penalty for cashing those short-term deposits.
6:13 pm
October 11, 2015
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Thank you, Loonie!
I am now maxed out at Oaken with their CDIC limits.
I actually forgot that Tangerine had offered me 2% till October 9th, so I've moved some money there and will see what happens after Oct 9th!
Thank you again for the tips!
7:45 pm
May 15, 2007
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Closing this thread since the offer originally discussed has expired, and we have a new thread for the current offer: https://www.highinterestsavings.ca/forum/pc-financial/2-25-on-new-savings-account-deposits-until-december-31-2016/
Please write your comments in the forum.