Innovation Credit Union: 5.25% TFSA until July 15, 2025 | Tax Free Savings Accounts | Discussion forum

Innovation is currently having a TFSA promo of 5.25% until July 15 2025 for new money transferred from another financial institution.

An interesting point with Innovation's no fee chequing account is they allow up to $10,000 etransfer. Most banks restrict you to $3000. However if you are going to do such a large etransfer, I recommend you do it during business hours when you can phone the bank and confirm it, as it is likely to get flagged especially if it is to a new contact. Found this out while buying a car from a private seller.

Another interesting point is that although the chequing account earns no interest, you gain rewards for various transactions like pre-authorized payments, up to $2.50 a month. Like - reverse fees! I love it.

I find them an ethical and responsive banking alternative.