LBC Digital: Another online-only offering from Laurentian Bank group | Page 2 | B2B Bank | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
LBC Digital: Another online-only offering from Laurentian Bank group
November 21, 2019
12:38 am
Doug
British Columbia, Canada
Member
Members
Forum Posts: 2986
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

Canadianbull said
Question: If you'll need to pick one FI in-between B2B and LBC. Which one would you pick or recommend?  

Pick your transit. What do you want your cheques to say, B2B Bank, or Laurentian Bank?

Either one is equally fine as they share the same banking system and online banking platform.

Cheers,
Doug

November 21, 2019
6:38 am
Canadianbull
Member
Members
Forum Posts: 203
Member Since:
December 26, 2018
sp_UserOfflineSmall Offline

Doug said

Pick your transit. What do you want your cheques to say, B2B Bank, or Laurentian Bank?

Either one is equally fine as they share the same banking system and online banking platform.

Cheers,
Doug  

Thank you for your feedback on this Doug!

November 21, 2019
6:42 am
Canadianbull
Member
Members
Forum Posts: 203
Member Since:
December 26, 2018
sp_UserOfflineSmall Offline

Has anyone try to accept interac e-Transfer via LBC? I have been trying since yesterday but it always kick me out and keep sending me back to login screen and yes, I did open a chequing account for this.

November 21, 2019
7:37 pm
Save2Retire@55
Member
Members
Forum Posts: 589
Member Since:
January 3, 2013
sp_UserOfflineSmall Offline

Do you think it's worth opening another account? I don't want to open, transfer, and then see this 3.3% sinks down to 1.1% in couple weeks. Thoughts?

I just moved everything not in GIC to Simplii for the 2.8%.

November 21, 2019
8:00 pm
Bud
Member
Members
Forum Posts: 744
Member Since:
February 20, 2018
sp_UserOfflineSmall Offline

doesnt hurt to have extra cdic

GIC King

November 21, 2019
9:24 pm
Oscar
Member
Members
Forum Posts: 114
Member Since:
October 17, 2018
sp_UserOfflineSmall Offline

Save2Retire@55 said
Do you think it's worth opening another account? I don't want to open, transfer, and then see this 3.3% sinks down to 1.1% in couple weeks. Thoughts?

I just moved everything not in GIC to Simplii for the 2.8%.  

If you run into issues when opening the account then don't frustrate yourself but if it goes smoothly you always have the option to transfer it all back to Simplii if they drop the rates and if they hold steady then you will come out ahead .
If enough people transferred their money from Simplii during their promotion they may have a look at the way they run it from the customer's perspective.

November 22, 2019
10:57 am
GR
Member
Members
Forum Posts: 199
Member Since:
September 15, 2017
sp_UserOfflineSmall Offline

Laurentian Bank (LBC Digital) is not offering this product as a JOINT account, same as B2B, and both have no plans to do so.
I wonder if they would reconsider if many potential clients phone and request joint accounts, so let's try.

November 22, 2019
12:14 pm
Doug
British Columbia, Canada
Member
Members
Forum Posts: 2986
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

GR said
Laurentian Bank (LBC Digital) is not offering this product as a JOINT account, same as B2B, and both have no plans to do so.
I wonder if they would reconsider if many potential clients phone and request joint accounts, so let's try.  

I think they will, eventually. Joint accounts with all-digital account openings pose added technical coding challenges, both to the banking system and online banking platform. I suspect that's the reason why EQ Bank doesn't have joint accounts.

Hubert does, but the major banks have added online banking security protocols that are superior to Hubert's (i.e., anyone ever noticed your downloaded e-Statement does into a generic folder until who knows how long it's emptied?)

Joint accounts are only really a concern of the geriatric set. Even then, even if the bank requires probate, it's not a significant reason to avoid opening an account, I'd argue.

Cheers,
Doug

November 22, 2019
3:47 pm
Canadianbull
Member
Members
Forum Posts: 203
Member Since:
December 26, 2018
sp_UserOfflineSmall Offline

Canadianbull said
Has anyone try to accept interac e-Transfer via LBC? I have been trying since yesterday but it always kick me out and keep sending me back to login screen and yes, I did open a chequing account for this.  

It is working fine now. I noticed after you open the chequing account there is a delay of 24-hours before your account fully start functioning.

November 22, 2019
5:28 pm
Briguy
Member
Members
Forum Posts: 289
Member Since:
March 17, 2018
sp_UserOfflineSmall Offline

I just tried opening an HISA , and it failed. I phoned LBC, surprisingly zero wait time on phone, and they said they are updating the system till about midnight, and I should try again tomorrow.

November 22, 2019
5:32 pm
canadian.100
Member
Members
Forum Posts: 130
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

Doug said

Joint accounts are only really a concern of the geriatric set. Even then, even if the bank requires probate, it's not a significant reason to avoid opening an account, I'd argue.

Cheers,
Doug  

Not necessarily just for the "geriatric set". Joint accounts are useful to other age groups to get the extra $100K CDIC limit. Older people do the joint thing more to "minimize" the death taxes and allow the survivor fast access to the funds.

November 22, 2019
8:49 pm
Canadianbull
Member
Members
Forum Posts: 203
Member Since:
December 26, 2018
sp_UserOfflineSmall Offline

Briguy said
I just tried opening an HISA , and it failed. I phoned LBC, surprisingly zero wait time on phone, and they said they are updating the system till about midnight, and I should try again tomorrow.  

Try it during business hours. B2B and LBC don't work properly after business hours.

November 23, 2019
5:21 am
canadian.100
Member
Members
Forum Posts: 130
Member Since:
September 7, 2018
sp_UserOfflineSmall Offline

Canadianbull said

Try it during business hours. B2B and LBC don't work properly after business hours.  

Hate to tell you this, but B2B and LBC don't seem to work properly even during business hours.

November 23, 2019
6:56 am
Canadianbull
Member
Members
Forum Posts: 203
Member Since:
December 26, 2018
sp_UserOfflineSmall Offline

canadian.100 said

Hate to tell you this, but B2B and LBC don't seem to work properly even during business hours.  

It is working fine for me during business hours.

November 23, 2019
7:13 am
Canadianbull
Member
Members
Forum Posts: 203
Member Since:
December 26, 2018
sp_UserOfflineSmall Offline

Question: how whould you know if they change the rate for b2b or LBC? Once you open the account the rate does not mention anywhere or at least I can't find it.

November 23, 2019
7:37 am
Bill
Member
Members
Forum Posts: 1473
Member Since:
September 11, 2013
sp_UserOfflineSmall Offline

Re B2b rate:
https://b2bbank.com/en/mybank/rates/hisa-rates

Yeah, re that joint accounts being mainly for the geriatric set comment was puzzling to me too. Seems to me I know a number of young couples who have joint accounts.

November 23, 2019
8:15 am
Doug
British Columbia, Canada
Member
Members
Forum Posts: 2986
Member Since:
December 12, 2009
sp_UserOfflineSmall Offline

Canadianbull said

Try it during business hours. B2B and LBC don't work properly after business hours.  

Yes, but what I meant was it was less of a concern. Not a reason, really, to avoid opening an account. It's a knock against them, but a not barrier.

Cheers,
Doug

November 23, 2019
9:42 am
Briguy
Member
Members
Forum Posts: 289
Member Since:
March 17, 2018
sp_UserOfflineSmall Offline

Doug said

Yes, but what I meant was it was less of a concern. Not a reason, really, to avoid opening an account. It's a knock against them, but a not barrier.

Cheers,
Doug  

I just tried again, just got a blank page when I got to the stage where it is verifying identity with Equifax. I'm getting ready to give up on this- they can't even automate an enrolment process. I know when I looked up B2B they have a horrible reputation for mortgages. I shouldn't have to take off work to use their web page LOL.

Edit- I called them, and they said I was set up with an account,even though it kept saying my application had failed and to call in, but my account was not yet linked to an online setup, so they would phone me back once they got tech support to link them.

November 23, 2019
10:25 am
Canadianbull
Member
Members
Forum Posts: 203
Member Since:
December 26, 2018
sp_UserOfflineSmall Offline

Doug said

Yes, but what I meant was it was less of a concern. Not a reason, really, to avoid opening an account. It's a knock against them, but a not barrier.

Cheers,
Doug  

Hi Doug,
I did open account and moved funds as well. It was just a general question. It seems weird to me that interest rate is not mention under account details.

CB

November 23, 2019
1:49 pm
Norman1
Member
Members
Forum Posts: 2597
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

Canadianbull said
Question: how whould you know if they change the rate for b2b or LBC? Once you open the account the rate does not mention anywhere or at least I can't find it.

The account agreement refers to an Interest Rate Schedule that's supposed to be at

https://lbcdigital.ca/rates

For some reason, the link is broken at the moment. I think they mean

https://www.lbcdigital.ca/en/rates-fees

Please write your comments in the forum.