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LBC Digital: Another online-only offering from Laurentian Bank group
November 29, 2019
2:44 pm
AlainJF
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Questions for the current users:

1- Is there a mobile app available for LBC Digital ?

2- Once you are on the website and on your HISA, is there a place where you see the current interest rate ? (something like "account details")

Note: I am still working on finalizing the initial setup process... not fully done yet.

November 29, 2019
4:27 pm
meghan88
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They use the same awful Equifax product as B2B. Since I'm locked out of that one and have no luck with it, I can't open an account here either.

Very frustrating.

November 29, 2019
7:04 pm
Canadianbull
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AlainJF said
Questions for the current users:

1- Is there a mobile app available for LBC Digital ?

2- Once you are on the website and on your HISA, is there a place where you see the current interest rate ? (something like "account details")

Note: I am still working on finalizing the initial setup process... not fully done yet.  

1 - no app
2 - Negative ( I was surprised as well; No account details)

I've been monitoring below link for rates....

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

November 29, 2019
7:21 pm
Canadianbull
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meghan88 said
They use the same awful Equifax product as B2B. Since I'm locked out of that one and have no luck with it, I can't open an account here either.

Very frustrating.  

I understand your frustration. I gave up for myself. Luckily my spouse was able to open without any problem.

November 30, 2019
4:46 am
Alexandre
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AlainJF said

Once you are on the website and on your HISA, is there a place where you see the current interest rate ? (something like "account details")
 

Perhaps, if we should ask nicely we'll have LBC digital included in HISA chart of this web site, separately from B2B? sf-smile

Till then, as B2B and LBC appear to be as close as Siamese twins, checking current B2B interest rate in HISA chart table to see if LBC rate moved should suffice.

November 30, 2019
6:04 am
Bruford
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AlainJF said <

2- Once you are on the website and on your HISA, is there a place where you see the current interest rate ? (something like "account details")

  

Yes there is, under "Account Information"

November 30, 2019
6:39 am
AlainJF
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Bruford said

AlainJF said <

2- Once you are on the website and on your HISA, is there a place where you see the current interest rate ? (something like "account details")

  

Yes there is, under "Account Information"  

Ok, and this leads to the public pdf information https://www.lbcdigital.ca/rates/hisa.pdf

November 30, 2019
9:34 am
mechone
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one has to wonder how long this teaser rate will last ,then what back to 2%.Thou interested their GIC rates are not good meaning if after 2 months it chops it means moving money again

November 30, 2019
7:05 pm
Canadianbull
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mechone said
one has to wonder how long this teaser rate will last ,then what back to 2%.Thou interested their GIC rates are not good meaning if after 2 months it chops it means moving money again  

Enjoy it while it last.

December 1, 2019
4:22 pm
MapleOne
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I looked on the website and nowhere does it say what the limit is.
At motive it's a million so you have to move the interest out every month.

It would be nice to know where the Laurentian account tops out because I went through the entire website and saw no mention of it.

December 1, 2019
6:58 pm
Bud
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when confirm penny deposits come in to external for linked acct which is deposit 1 n 2 the first dep to arrive below the second is lbc 1? u get one chance to get it right?

GIC King

December 1, 2019
8:38 pm
Inxses
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The first deposit is the one right below your last transaction you made in your account. I tried to link the account in the middle of the night and got an error message, tried it again once the bank was open and it linked right away.

December 2, 2019
3:58 am
paver
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Anyone else noticed the multiple ERROR messages that persistently pop up during each & every online banking session in LBC Digital? One CAN'T even simply view recent transactions or set up recurring payments. The folks at LBC Digital do NOT even acknowledge this issue & do NOT provide any reason. And their social medial Twiiter team does NOT acknowledge this either. Anyone else having similar issues? Any luck? Thanks.

December 2, 2019
5:06 am
Alexandre
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paver said
Anyone else noticed the multiple ERROR messages that persistently pop up during each & every online banking session in LBC Digital? One CAN'T even simply view recent transactions or set up recurring payments. The folks at LBC Digital do NOT even acknowledge this issue & do NOT provide any reason. And their social medial Twiiter team does NOT acknowledge this either. Anyone else having similar issues? Any luck? Thanks.  

I do see these ERROR messages. They pop up at random times at random features of the web site. Can't go to Interac menu one moment, can do transfer just fine some time later. Same with viewing transactions, etc.

I suspect their Web services run at or above capacity, overwhelmed by high demand. So, give them some leeway and just try some other time of the day.

My plan is to move funds to Laurentian HISA as soon as my external bank account is linked, and leave them alone for a while.
Hopefully in few weeks they'll figure how to manage demand. Also, I do hope very much they won't drop offered HISA rate as an easy way of addressing web site capacity issues.

December 2, 2019
7:19 am
Canadianbull
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Interest was paid on Dec 1st for the month of November. sf-cool

December 2, 2019
7:20 am
Bud
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Inxses said I tried to link the account in the middle of the night and got an error message, tried it again once the bank was open and it linked right away.  

Thks

GIC King

December 3, 2019
8:29 am
butterflycharm
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Any hidden or obvious fees for transfer in or transfer out?
How long does 3.3% last?
Any other fees or rules I need to know about?

Manulife doesn't deserve my money anymore!

December 3, 2019
9:40 am
Londonguy
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butterflycharm said
Any hidden or obvious fees for transfer in or transfer out?
How long does 3.3% last?
Any other fees or rules I need to know about?

Manulife doesn't deserve my money anymore!  

There are no fees to speak of if you do everything electronically, although in my own and many other's experience, the LBC site (and B2B too) is routinely offline outside regular business hours (and sometimes even during business hours), so take that into consideration and plan your activities accordingly.

Your guess is as good as anyone's as to how long the HISA rate will stay at 3.30%, but from a marketing and cost perspective it would make little sense to roll out a big deposit expansion initiative like this, only to immediately pull it back and watch most of the money you just scooped all drain back out. Just my opinion, what do I know.

Re: oddities, there seems to be a TOS conflict at Laurentian with clients using links set up at other FIs to pull directly from their LBC/B2B savings account instead of pushing funds out from the LBC/B2B side. It works, but some people have reported being threatened with account closure if they persisted. Seems kind of a lame policy to me, but it is what it is. So if you want to avoid any potential hassles, then only push out from your LBC/B2B savings account, or alternatively open up a companion chequing account that can be pulled on from outside without restriction, and then just move your money from savings into chequing ahead of any pull.

I opened accounts at both (B2B in August, LBC in November) and although both websites can be maddening at times, I've generally been happy with their telephone support and assistance in resolving issues. Having said that, if they weren't offering a premium rate, I don't know how long I'd be hanging around

December 3, 2019
3:54 pm
key123
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Thanks to all previous posters in this and related topics the information was helpful for my account opening process with LBC Digital. But, it did take 2 almost hour long waits to get through on the phone. I did have a person on the phone that was very helpful and seemed knowledgeable. She was kind and came across as very sincere. I got to the last step yesterday and on the final submit after a long wait with the spinning wheel was greeted with a message to phone customer service. Here is what I learned on the phone:

1. I was told no special characters in the password. If it stated that during the registration process I missed it. My original password had a special character. In hindsight I wonder it that caused the error message. It did not stop me on the page where I created my password.

2. I was told that the limitation of linking accounts is no longer restricted to business hours. She indicated it related to initial heavy maintenance being done. Because of her answer I did not pursue what those business hours were. I was able to proceed through the linking process at about 3:30 pm Pacific and will have to wait and see if the micro deposits show up.

3. I was told there was no limitation on pulls initiated on the LBC Digital side to bring in money from other linked accounts. I was told there was a $50,000 limit on a push out from LBC Digital to another linked account, but that there was no limit on the number of pushes that could be done.

As indicated above for each of those points it is what I was told on the phone - I can't speak to how correct it is.

Last comment: If you need to phone in my suggestion is to be ready for a long, long wait. There was no call back option.

December 3, 2019
5:17 pm
MapleOne
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I tried to add Simplii as an account yesterday evening and got an error. I tried 3-4 times with no luck. WHen I tried during business hours it worked first time.

Another thing I noticed is it asks me if I want to link another account, I said no.

Now that it is making me wait for the two small deposits there is no way to link a second account. The option is gone and I presume will return when the deposits are verified. Really silly that during that time I cannot link more accounts.

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