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Cambrian Savings Accounts of february 2023

Open a deposit at Cambrian verified by our specialists. On 08.02.2023 1 deposits are available to you.

Offers: 1

Updated
06.01.2023
14:31
Premium Savings Account
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

$0 monthly fee

Other types of deposits

GoDay
1.6
JUDGEV
JUDGEV
26.05.2022 at 15:46
the application is easy and takes less then 5 mins to fill out. but the funding time is quite long. if looking for instant funding then its not here...
Review
Cambrian Savings Accounts of february 2023

Types of Cambrian savings accounts

To hold your money securely and earn competitive interest, consider savings accounts from Cambrian Credit Union.

Premium Savings Account. With a Premium Savings Account, you can earn interest at a 2.90% interest rate on your entire balance. This account features the first ATM transaction free each month. With every direct deposit made to this account, you will get one free Cambrian ATM withdrawal in the same month. A Premium Savings account is eligible for TFSAs and RRSPs.

Cambrian savings accounts qualify for Unfee — the solution to save on a range of service fees. Once you have a recurring monthly direct deposit in your account set up, you can get a monthly refund for certain service fees.

How to apply for a Cambrian savings account?

You can apply for a Cambrian savings account online. Go to the Cambrian Credit Union website, select “Apply” from the top navigation menu, and click “Apply for membership”. Then, select the preferred way to apply:

  • By downloading the Cambrian mobile app, taking a photo, scanning your ID, and making a mobile deposit — no need to go to a branch
  • By filling out the online application form and presenting a valid photo ID at a Cambrian branch near you

If you are a Cambrian member already, you can add a savings account to your existing membership. To do so, visit a Cambrian branch near you or get in touch with Cambrian advisors.

Requirements

To open a savings account with Cambrian, you must be a Canadian resident of at least 18 years old (the age of majority in Manitoba).

When applying, be ready to provide a valid government-issued photo ID.

Pros and cons

Here are the definite pros of Cambrian savings accounts:

  • No monthly fees
  • No minimum deposit
  • Competitive interest earned on every dollar
  • An option to customize the name of your account
  • First ATM transaction free each month
  • Online application available
  • Easy account management through online and mobile banking
  • Safety of deposits guaranteed by the Deposit Guarantee Corporation of Manitoba

The cons of Cambrian savings accounts are:

  • Only one savings account option offered
  • The availability of savings accounts to Winnipeg and Selkirk residents only

How to fund a Cambrian savings account?

There are several ways to fund your Cambrian savings account. You can:

  • Transfer funds from your other Cambrian account via online or mobile banking
  • Set up direct deposits to your Cambrian savings account
  • Deposit cash or cheques at an ATM
  • Make a mobile deposit through the Cambrian mobile app
  • Deposit cash or cheques in person at your local Cambrian branch
  • Send funds by mail
  • Use the night depository

FAQ

What are the transaction fees with a Premium Savings Account?

With a Premium Savings Account, transactions like in-branch withdrawals and transfers, Credit Union and other ATM withdrawals, pre-authorized debits, and Interac® Debits will cost you $2.00 per transaction.

You can check all the service fees in the section “Complete list of member service fees”.

For what fees can I get a refund with Unfee?

Once you have the Unfee set up, you can get the following service fees refunded to your account: monthly package account fees (not applicable to savings accounts because they don’t involve monthly fees by default), all Credit Union ATM fees, Interac Direct Payment fees, over-the-counter withdrawal fees, online and mobile member to member transfer fees, cheque clearing fees, pre-authorized debit fees, bill payment fees, and monthly overdraft protection fees.

How does Cambrian calculate interest?

Cambrian Credit Union calculates interest daily based on the closing account balance. You will have interest paid to your savings account by the end of each month. The interest rate for a Premium Savings account is 2.90% on the entire balance.