Canadian Money Forum banner

1 - 13 of 13 Posts

·
Registered
Joined
·
210 Posts
Discussion Starter · #1 ·
I currently have a Motive HISA and I am looking to open another. The Motive account was a bit of a PITA to set up, but is otherwise working well. I am looking at EQ and/or Laurentian Digital.

Hoping to hear which institution(s) others like to use. Thanks in advance.
 

·
Registered
Joined
·
2 Posts
I set up an account at WealthSimple. The website works well and transfers are easy. They quickly, however, cut the interest rate. With a large balance I enquired if they were prepared to negotiate and received a hard "no". Im now looking for alternatives as well.

I then tried to open an account at Canadian Tire bank. After completing the application process, they called me and said "sorry we can't open joint accounts right now. Do you want one just in your name"?" I'm still looking for alternatives!
 

·
Registered
Joined
·
431 Posts
I attempted to open both a Motive and Simpli accounts
but gave up as they were both too cumbersome.
I've used Tangerine in the past when they had great promotions
easy to use- but their promotions are far and few and rates are very low
I really like EQ BANK- easy to use - excellent web site with great details
great promotions -just ended a 3 month GIC @ 1.80%
and now getting 1.50% on my HISA.
 

·
Registered
Joined
·
11,414 Posts
EQ Bank would be my first choice. Can be set totally online as well. No paper crap to deal with. LBC Digital can be set up the same methodology as EQ Bank though its website is clunky I have HISA accounts at both.
 

·
Registered
Joined
·
925 Posts
I currently have a Motive HISA and I am looking to open another. The Motive account was a bit of a PITA to set up, but is otherwise working well. I am looking at EQ and/or Laurentian Digital.

Hoping to hear which institution(s) others like to use. Thanks in advance.
I have Motive and EQ savings accounts. I don't use Motive for day to day banking. If you want to open an account with EQ bank, I can send you a friend referral and both of us will get $20 each once you deposit $100.
 

·
Registered
Joined
·
210 Posts
Discussion Starter · #8 ·
I opened an EQ account today. The process was extremely simple and I was able to open the account, link an external account and complete the initial transfer within 15 minutes. Soooooo much simpler compared to what I went through opening an account with Motive.
 

·
Registered
Joined
·
210 Posts
Discussion Starter · #9 ·
I received a notice from Laurentian Digital today the they are lowering their HISA rate to 1.15% effective June 7th.
 

·
Registered
Joined
·
11,414 Posts
Short term interest rates, i.e. HISA rates, are still trending down. 4 and 5 year GIC terms are trending up in line with the steepening bond yield curve. Those are noted at Canadian High Interest Savings Accounts on their GIC and HISA tabs, with notes below the charts recording recent rate changes.
 
1 - 13 of 13 Posts
Top