I’ve been using Neo Financial’s Grow account for the 2.75% savings rate at $0 fee having more than $20k in the account. However, I got a notification this week that starting October 1, Neo is increasing the Grow membership to $14.99/month AND removing the ability to waive the fee by keeping $20K+ with them. I could downgrade to the Essentials at 2.00%, but that’s certainly less appealing. The break-even is roughly $24,000, and even above that, I’m not sure 2.75% is compelling enough to justify paying a monthly fee when there are other HISA options out there. Maybe I’ll throw the money into $CASH instead. I’ve liked Neo, but this definitely has me shopping around. 👀 Anyone else moving their cash somewhere else? Where are you getting the best HISA rate right now without having to direct deposit your pay or be on a promo special?
3,674 views
43 Comments
michael @mickcrane · 3d
I opened a Wealthsimple Saving account last week and its 2.5%
Gerald @aetos · 3d
Wealthsimple is 🤴
Adrian @amswann · 2d
I leave mine in Wealthsimple. All the work and stress of chasing .25% of a difference here and there every few months isn’t worth it to me.
John D@iamjohn_d · 3d
Handy chart to have bookmarked: https://www.highinterestsavings.ca/chart/ You can sort by rate. They also track (and are relatively up-to-date with GICs and promotional offers.
See the full comment section 👀Sign up for the full Blossom experience!
