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Meridian Savings Accounts of february 2023

Open a deposit at Meridian verified by our specialists. On 08.02.2023 11 deposits are available to you.

Offers: 11

Updated
06.01.2023
08:26
AgriInvest 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.

Business Advantage Savings account
Rating by Finanso®
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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.

Business Advantage Plus Savings account
Rating by Finanso®
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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
Rate
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Effective interest rate on the product

up to 2.50%
Registered Disability Savings Plan (RDSP)
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.

Registered Retirement Income Fund (RRIF)
Rating by Finanso®
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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.

Registered Education Savings Plan (RESP)
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.

Tax-Free Savings Account (TFSA)
Rating by Finanso®
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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.

Registered Retirement Savings Plan (RRSP)
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.

Youth savings account
Rating by Finanso®
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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
Advantage 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
Meridian Savings Accounts of february 2023

Types of Meridian savings accounts

Meridian savings accounts offer no monthly fee and minimum balance, no transaction fee options (except for the Interac e-Transfer fee), great interest on every dollar calculated daily and paid monthly, and access to online, mobile, telephone, and in-branches banking.

  1. High Interest Savings Account offers 2.05% unlimited free transactions.
  2. TFSA (Tax-free Savings Account) is a high-interest savings account. Tax-free savings within the contribution limit (for 2021 and 2022 is $6,000).
  3. RRSP (Registered Retirement Savings Plan) is a high-interest savings account. To accumulate tax-deferred with a 2.05% interest rate.
  4. RRIF (Registered Retirement Income Fund) is a high-interest savings account that manages your retirement funds. Not available online.
  5. Advantage Savings Account provides one free online and one free other transaction monthly ($1,25 for every transaction over the limit), unlimited free deposits. It is available in a non-registered account, TFSA, RRSP, or RRIF plan with interest rates up to 0.10%. With a balance over $50,000, transaction fees are waived. Unfortunately, it can't be opened online.
  6. Youth Savings Account is designed for Members under 17 and has unlimited free transactions. It could be opened only at branches.
  7. Business banking savings accounts: AgriInvest account with an interest of 1.10%, Business Advantage Savings account with a 0.50% rate, Business Advantage Plus Savings account with interest rates up to 2.50% depending on the daily closing balance.

Other fees like $1.5 Interac e-Transfers, $16 incoming wires, $48 Non-sufficient funds (NSF), bank draft, and foreign debit transaction fees may be charged.

Auto-Save is available for all accounts to make savings automatically when you spend or/and get paid. In addition, a Sweep account could be enabled during the application to combine and link chequing and savings accounts.

Requirements

To be eligible for a Meridian savings account, you should:

  • Be a Canadian resident
  • Be the age over 18 (according to the age of majority in your province or territory)
  • Have a valid email address
  • Have a valid Social Insurance Number (SIN)
  • For a Youth savings account, you should be 17 or under 17 years old

Pros and cons

Pros

  • Highly competitive rates
  • Transfer funds from chequing to savings account
  • Save up with Auto-Save
  • No monthly fee, no minimum balance required
  • No transaction fee options
  • Apply and manage online

Cons

  • Only a HISA account could be opened online
  • No welcome offers
  • No foreign currency options
  • Additional fee for Interac e-Transfers

How to fund into a Meridian savings account?

  • You may apply for Meridian savings account online by calling the Contact Center at 18665922226 or at one of Meridian's branches.
  • If you apply online, you get access to a savings account, become a member of Meridian, and can also set up a Sweep for 5 minutes. A Sweep account allows you to set up a limit of money transferred from your chequing account and HISA.
  • You may set up an Auto-Save: every time you use your debit card to make a purchase or withdrawal, you can automatically transfer between $1 and $5 or/, and when you get paid, you can automatically assign a percentage to your savings account.
  • You may also make a deposit at your TFSA, RRSP, or RRIF. RRIF option is only available through a branch or a Meridian Wealth Advisor.
  • If you are a Meridian member, sign in to Online Banking, and select the needed account type.

FAQ

Are Meridian deposits safe?

Meridian is a Financial Services Regulatory Authority of Ontario (FSRA) member. Eligible deposits in registered accounts have unlimited coverage through the FSRA. Eligible non-registered deposits are insured up to $250,000 through the FSRA.

How to set up Auto-Save with my Meridian account?

Log in to online banking or the mobile app to set up Auto-Save. Next, choose «Manage Savings» in the Select an Action menu. Next, choose the Savings account, an amount between $1 and $5, to automatically transfer when you use your debit card or/and set a percentage of a direct deposit to transfer to your savings account automatically.

What is a HISA?

A HISA is a High-Interest Savings Account with an impressive interest rate of 2.05%, which could be even more effective if opened with tax benefits. Meridian CU offers TFSA HISA, RRSP HISA, or RRIF HISA, and a regular HISA with unlimited free transactions manageable online or by phone.