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So how can you Be Nice To Your Money® with the Canadian Tire High Interest Savings®† account?

  • Earn a high annual rate of interest
  • No monthly fees
  • No minimum balance required
  • No lock-in period
  • Easy to transfer funds online or by phone
  • 24/7 Online banking
  • Telephone customer service between the hours of
    8 AM and 10 PM ET Monday to Friday, 8 AM and 6 PM ET Saturday

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Questions everyone asks

1. What do I need to apply?
2. What can I expect after my application is submitted online?
3. How can I transfer money to/from my Canadian Tire High Interest Savings account?
4. If I am an existing customer, do I have to fill out another application for a Canadian Tire High Interest Savings account?
5. How do I add an additional account from another bank to my Canadian Tire High Interest Savings account?
6. Can I automatically transfer money into my Canadian Tire High Interest Savings account every month?
7. Do I have to maintain a minimum deposit?
8. Can I access my money whenever I need it?
9. Is my money insured?
10. How do I open or deposit to an account?

QUESTION

1. What do I need to apply?

ANSWER

It’s easy to apply for a Canadian Tire High Interest Savings account. Plus once you do, you’ll be on your way to being nice to your money. 

In order to open an account, you must be a resident of Canada and be at least 12 years of age. Unfortunately, we can’t accept applications from residents of Quebec at this time.

To apply, you’ll need:

  • your Social Insurance Number (SIN) (We need your SIN because Revenue Canada requires that it be included on any tax receipts we send to you.)
  • a cheque from one of your own accounts to deposit into your new account. Please make it payable to yourself, in Canadian funds, from a bank account in your name. Please make sure the cheque has your name preprinted on it. Sorry, a cheque from a business account cannot be accepted. You are officially being nice to your money once this cheque has cleared.
  • If you are applying for a joint account, you’ll need to send a joint cheque with both your signatures, or, you can complete and mail in two separate cheques, one from each of you.

QUESTION

2. What can I expect after my application is submitted online?

ANSWER

Once your application has been submitted, you will be provided with instructions outlining next steps, including details on how to get back to us with the cheque we need to set up your account.

More about the cheque: the cheque must be made payable to yourself, in Canadian funds, and issued from a bank account in your name held with another Canadian financial institution. The cashing of this cheque is required to set up a link between your account with us and the account the cheque was from. Your Canadian Tire High Interest Savings account will not be operational until this cheque has been cleared – it’s a legal thing, just to make sure everything works properly from the beginning.

Once we receive the cheque from you, we will begin the process of linking that account to your Canadian Tire High Interest Savings account. We will also mail a welcome package that outlines how you can access your account and we ask that you call Canadian Tire Customer Service at 1-866-681-CTFS (2837) for quick verification and so we can set up your password for telephone and online access. You may call between the hours of 8 AM and 10 PM ET Monday to Friday, 8 AM and 6 PM ET Saturday. Once the cheque in your account has been cleared, get ready. The money you’re now saving with us is going to be nice to you for a change.

For joint accounts, you’ll need to send a joint cheque with both your signatures, or, you can complete and mail in two separate cheques, one from each of you.

QUESTION

3. How can I transfer money to/from my Canadian Tire High Interest Savings account?

ANSWER

Once your linked external account is set up, you may transfer your funds online or by calling a Canadian Tire Customer Service Representative at 1-866-681-CTFS (2837), between the hours of 8 AM and 10 PM ET Monday to Friday, 8 AM and 6 PM ET Saturday.

QUESTION

4. If I am an existing customer, do I have to fill out another application for a Canadian Tire High Interest Savings account?

ANSWER

No. If you’re already a Canadian Tire Bank customer (thank you, by the way) you can set up your Canadian Tire High Interest Savings account right away through online banking. For Canadian Tire MasterCard Cardmembers, sorry, but we’ll need you to fill out a full application. If you’re a Canadian Tire Bank customer, but you haven’t set up online banking services, please call Canadian Tire Customer Service at 1-866-681-CTFS (2837), between the hours of 8 AM and 10 PM ET Monday to Friday, 8 AM and 6 PM ET Saturday.

QUESTION

5. How do I add an additional account from another financial institution to my Canadian Tire High Interest Savings account?

ANSWER

In order for us to set up a link to an additional account from another bank, we require that you mail a cheque from that bank account to:

Canadian Tire Bank
P.O. Box 3000
Welland, Ontario
L3B 5S5

Remember, the cheque must be signed, payable to yourself, and in Canadian funds. Once the funds have been cleared from the other account, you will have access to the funds in your new Canadian Tire High Interest Savings account and the link will have been created. You may now transfer funds to and from the other bank account and your Canadian Tire High Interest Savings account using online banking or by calling Canadian Tire Customer Service at 1-866-681-CTFS (2837), between the hours of 8 AM and 10 PM ET Monday to Friday, 8 AM and 6 PM ET Saturday. Please ensure you have the funds available before initiating a transfer.

QUESTION

6. Can I automatically transfer money into my Canadian Tire High Interest Savings account every month?

ANSWER

With the Automatic Savings Plan, deposits are automatically transferred from one of your other accounts into your Canadian Tire High Interest Savings account. For more information, click here.

QUESTION

7. Do I have to maintain a minimum deposit?

ANSWER

There is NO minimum deposit requirement.

QUESTION

8. Can I access my money whenever I need it?

ANSWER

You can make withdrawals anytime you want via phone or online banking.

QUESTION

9. Is my money insured?

ANSWER

Your deposits may be eligible for up to $100,000 in CDIC insurance coverage.

QUESTION

10. How do I open or deposit to an account?

ANSWER

Just give us a call! Our knowledgeable customer service representatives are happy to answer your questions and help make sure you’re maximizing your savings. To open an account, just call us at 1-866-681-CTFS (2837), or to apply online, click here.

 

New! Canadian Tire Bank has introduced some security enhancements to our login process. Find out more.