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Limits to linking accounts to Achieva
May 22, 2019
6:56 pm
harbottle
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April 6, 2019
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Recently opened an account at Achieva and requested to link 2 other accounts to directly transfer funds into the Achieva account, but CS said I couldn't add more accounts since my Achieva account was less than 3 months old! WTF!?

So, if I wanted to deposit into my Achieva account, their solution was to write myself a cheque, take an image and deposit through their mobile app. What nonsense! I'm not impressed by this. Or I will have to transfer/deposit funds into my 1 linked account to transfer into Achieva. How utterly inconvenient! This is a leader in online banking as they claim to be on their website?!

Also, I found out that 3 linked accounts was the maximum they allowed. This information is purposely not disclosed on their website CS said. I laid into them that there should full and complete disclosure so individuals can make an informed decision whether to sign up for an online account. I wonder what else is not disclosed with the Achieva account?

Will consider closing my account after a few months....
...end rant! sf-yell

May 23, 2019
7:07 am
Doug
British Columbia, Canada
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Wow, that's very sad! There's absolutely no business rationale for such a limitation! Achieva Financial, like most of the Manitoba credit unions' virtual banking operations, holds all cheque and EFT deposits. This is akin to capital controls imposed by China on the ability of the Yuan to leave mainland China except it's imposed, seemingly, by the discretion of a lone CSR or perhaps a virtual branch manager of a virtual credit union branch.

I would definitely initiate a complete to Achieva and move up the chain to Cambrian's senior executive team as needed. 🙂

As provincially regulated credit unions aren't regulated from a consumer protection perspective, there will be no government or industry external Ombudsperson or regulatory agency to which you may complain as they're only concerned with matters of liquidity and capital adequacy. So, your complaint will be limited to both Cambrian Credit Union and Achieva Financial. Nevertheless, I would push back and tell them that you had wanted to develop a more fulsome relationship with Achieva over the long term and you are just being proactive in establishing your account links.

Cheers,
Doug

December 5, 2019
2:22 pm
Briguy
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March 17, 2018
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Doug said
Wow, that's very sad! There's absolutely no business rationale for such a limitation! Achieva Financial, like most of the Manitoba credit unions' virtual banking operations, holds all cheque and EFT deposits. This is akin to capital controls imposed by China on the ability of the Yuan to leave mainland China except it's imposed, seemingly, by the discretion of a lone CSR or perhaps a virtual branch manager of a virtual credit union branch.

I would definitely initiate a complete to Achieva and move up the chain to Cambrian's senior executive team as needed. 🙂

As provincially regulated credit unions aren't regulated from a consumer protection perspective, there will be no government or industry external Ombudsperson or regulatory agency to which you may complain as they're only concerned with matters of liquidity and capital adequacy. So, your complaint will be limited to both Cambrian Credit Union and Achieva Financial. Nevertheless, I would push back and tell them that you had wanted to develop a more fulsome relationship with Achieva over the long term and you are just being proactive in establishing your account links.

Cheers,
Doug  

Was going to e-transfer some money into Achieva, and all I could see for selection was their parent,Cambrian, but not Achieva. I contacted them and they said they don't have e-transfer set up, and the only way to deposit money is through deposit of cheque through snail mail or app, or transfer from your linked account. Fairly archaic.

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