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November 29, 2019
4:25 am
Londonguy
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RicksBank said

meghan88 said
Update: I received my Equifax report via snail mail. Tried another three times to create an account at B2B. No luck and the Equifax questions are still totally bizarre.

I guess I was lucky. I failed 3 questions the 1st time, but the 2nd time was easy. All the answers were "None of the above".

I wonder if there is a point where they lock you out from trying if you fail too many times? If not, no harm to keep trying?  

After 3 fails, you get locked out from trying again for 72 hours

November 29, 2019
6:40 pm
stingray
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1/ Wondering if anyone else has had trouble linking external accounts to b2b, I have tried 3 x , followed proceedure properly , spoke to b2b personnel as we tried together, and still message on screen states "error", frustating ordeal on something that should be very simple. 2/ Also noticed in their fee structure that b2b will charge $25 when closing account within 90 days...in other words b2b can and may change their 3.3% rate to an unattractive rate within 90 days, thus motivating clients to seek better rates elsewhere and charging everyone departing within 90 days a fee of $25....

November 29, 2019
6:58 pm
Canadianbull
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stingray said
1/ Wondering if anyone else has had trouble linking external accounts to b2b, I have tried 3 x , followed proceedure properly , spoke to b2b personnel as we tried together, and still message on screen states "error", frustating ordeal on something that should be very simple. 2/ Also noticed in their fee structure that b2b will charge $25 when closing account within 90 days...in other words b2b can and may change their 3.3% rate to an unattractive rate within 90 days, thus motivating clients to seek better rates elsewhere and charging everyone departing within 90 days a fee of $25....  

No need to close account within 90 days. It's no fee account. Just leave it open.sf-cool

December 4, 2019
11:53 am
picassocat
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Just registered. Went thru the process and at the end, I had to call them. I’m not initially impressed, 3 things are not working (maybe more…)

Interact e-transfer’s service doesn’t work
Page is in English when I choose «français» even if the letters «fr» is in the web address
«Void cheque» tab doesn’t work either.

Before making a deposit, I’ll wait until these bugs are repaired

Also, if you have pop-up blockers, the B2B internet page will not function properly.

Update: the following day, void cheque tab works and so does e-transfers that I tested. A bit slow to receive the e-transfer e-mail, but it's functional. Impossible to get the pages in French except the home and login pages. B2b sent me a mail that effectively addressed these issues; there working on their web site to get it to work in both languages. I'm surprised that hasn't been taken cared of since they opened almost 4 months ago.

December 5, 2019
10:32 am
picassocat
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Loonie said
From what I've seen, a pull always takes at least five days to clear, from start. Push is shorter though - except in the case of Meridian/motus, where everything takes 6 or 7 business days unless you phone and beg successfully for action.  

If you are moving money around, say 10,000K (or less), it would make sense to e-transfer in or out; at least the transaction is immediate. There is a limit of 3000$ per day on an e-transfers, but within 4 calendar days (not business days), you have all your money. Just send an e-transfer to yourself, it works.

December 5, 2019
11:11 am
smayer97
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picassocat said

If you are moving money around, say 15,000K (or less), it would make sense to e-transfer in or out; at least the transaction is immediate. There is a limit of 3000$ per day on an e-transfers, but within 5 calendar days (not business days), you have all your money. Just send an e-transfer to yourself, it works.  

Actually, Interac has a $10K/wk limit. Though not applicable in your example, note that there is also a $20K/mon limit too.

December 5, 2019
11:18 am
picassocat
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smayer97 said

Actually, Interac has a $10K/wk limit. Though not applicable in your example, note that there is also a $20K/mon limit too.  

Thanks for the precisions !

December 5, 2019
10:00 pm
picassocat
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I’ve been with B2b bank for only a few days now and I’m impressed with their service, they really went out of their way to fix whatever wasn’t working. Getting the site in French is special, you need to go in your client profile and change preferences to French. The language tab on the home page is useless after you log in; it’s your language preference that kicks in. I guess it’s in English by default and that is normal, although my application was done in the language of Molière.

December 6, 2019
4:48 am
fbeaulie
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For those who will open an account with B2B Bank:

I got error messages when trying to confirm the two small deposits to link accounts late evening or at night. If it happens to you, just wait until morning.

December 6, 2019
4:54 am
fbeaulie
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stingray said
(...). 2/ Also noticed in their fee structure that b2b will charge $25 when closing account within 90 days...in other words b2b can and may change their 3.3% rate to an unattractive rate within 90 days, thus motivating clients to seek better rates elsewhere and charging everyone departing within 90 days a fee of $25....  

The President and CEO of Laurentian Bank of Canada, François Desjardins, told La Presse that they want to increase the value of deposits by individuals by at least 15% over the next 3 years:

https://www.lapresse.ca/affaires/entreprises/201912/04/01-5252421-banque-laurentienne-la-croissance-viendra-plus-tard.php

"une hausse d’au moins 15 % de la valeur des dépôts de particuliers sur trois ans".

December 6, 2019
4:59 am
smayer97
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fbeaulie said

The President and CEO of Laurentian Bank of Canada, François Desjardins, told La Presse that they want to increase the value of deposits by individuals by at least 15% over the next 3 years:

https://www.lapresse.ca/affaires/entreprises/201912/04/01-5252421-banque-laurentienne-la-croissance-viendra-plus-tard.php

"une hausse d’au moins 15 % de la valeur des dépôts de particuliers sur trois ans".  

Keep in mind that withdrawing your entire account is not the same as closing your account. So all you have to do is wait out the 90 days if you so choose to want to close the account after withdrawing all your funds.

December 6, 2019
5:06 am
fbeaulie
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I've always wondered why they have this particular fee.

Who would close his/her account within 90 days instead of just withdrawing the funds?

December 6, 2019
8:49 am
butterflycharm
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smayer97 said

Keep in mind that withdrawing your entire account is not the same as closing your account. So all you have to do is wait out the 90 days if you so choose to want to close the account after withdrawing all your funds.  

There is also news that their revenues and profits dropped by quiet a bit and so they are looking to try to become more profitable again so raising their interest rates. I would be very cautious to put more than $100,000 in their accounts. Either B2B or LCB (LBC??) can probably go down without Laurentian going down. So be careful with your money as they can afford to play with two of their brands and be risky...

1- Any received interest from them so far? which day of the month they give and are they accurate?

2- The fact that they don't announce a promo expiry date is not to advantage of consumer because they reserve the right to change anytime. If they meant well, they would give a 6 months period and also in the text say, "Possible to extend as well...". But no, they chose to keep it open so they can pull the carpet whenever and simply bank on the poor souls who forget to move or can't move in time. This is becoming a really crappy game from all banks.

*I only wish consumers could pool their desires into one to force these guys into better terms.

December 6, 2019
11:39 am
picassocat
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From what I can read in the articles, there looking for liquidity, they even slowed the loan department. Laurentian is the only unionized bank in Canada and the 7th largest, although they only have branches in Québec (they closed outside of PQ). The union went thru a nasty negotiation with the bank which (the bank) wanted to de-unionize, negotiation lasted 3 years. Profits and their stock are down below expectations. Hope the worst is behind them.

(only the 1st article is in English)

https://www.ctvnews.ca/business/laurentian-bank-reports-47-8m-q3-profit-down-from-54-9m-a-year-ago-1.4570049

https://www.ledevoir.com/economie/561662/profits-en-baisse-a-la-laurentienne

https://www.lesaffaires.com/bourse/nouvelles-economiques/bourse-titres-en-action-5-decembre-2019/614641

https://www.lelezard.com/communique-19046990.html

https://www.finance-investissement.com/nouvelles/actualites/banque-laurentienne-les-marqueurs-a-la-baisse-au-4e-trimestre/

December 6, 2019
11:54 am
picassocat
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butterflycharm said

1- Any received interest from them so far? which day of the month they give and are they accurate?
  

On their web site:

«All rates are subject to change at any time without prior notice. The applicable rate is paid on every dollar in the account. Interest rates are per annum. Interest is calculated daily on the closing balance and paid monthly on the last day of the month into the account.»

December 6, 2019
12:01 pm
-bsv-
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butterflycharm said
1- Any received interest from them so far?

I did in November, it was my first month. Transferred them to Tangerine. Money came in on the next business day.

December 6, 2019
12:03 pm
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butterflycharm said
2- The fact that they don't announce a promo expiry date is not to advantage of consumer because they reserve the right to change anytime.  

Many other banks do that, I don't see anything wrong with that. If one wants a guarantee - one needs to put $ into GIC and be happy. IMHO.

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