Canadian High Interest Savings Bank Accounts - Forum: B2B Bank

gocanada on B2B Bank

Fri, 15 May 2020 22:58:05 -0700

Thanks for your response. I'm aware of LBC but looking for extra CDIC coverage.

Briguy on B2B Bank

Fri, 15 May 2020 22:52:06 -0700

gocanada said
Does anyone know how to get a referral code for B2B Bank? I checked with my financial advisor as well as some friends who are financial advisors, but none of them have a referral code. Thanks!

Just sign up with LBC Digital Bank, it's exactly the same, just a twin sister of B2B .

https://onlinebanking.lbcfg.ca.....er?lang=en

gocanada on B2B Bank

Fri, 15 May 2020 22:45:05 -0700

Does anyone know how to get a referral code for B2B Bank? I checked with my financial advisor as well as some friends who are financial advisors, but none of them have a referral code. Thanks!

Edit: Aware of LBC already.

picassocat on B2B Bank

Sat, 11 Apr 2020 07:22:58 -0700

B2b and LBC digital are supposed to be «full services banks» but they are not. The full service only works when they feel like working, over the phone help has limited hours of operation and their answers are bureaucratic, robotic and pre-recorded. They also update their system at peak hours, go figure. They are useful banks for parking money, like putting money in a piggy. For a reliable full service bank, we need to wait, and wait, and wait, but eventually, we hope, they will get it right.

RYAN on B2B Bank

Thu, 09 Apr 2020 07:27:02 -0700

I opened account with B2B early this year with about 7k deposit to try out. At end of March, I made a duplicate inbound transfer from my Tangerine account by mistake because I mistaken a new transfer as confirmation of the initial one. So I was charged by Tangerine for NSF fee and by B2B for Return Item fee. I called Tangerine and got the 45$ NSF fee waived without even my asking. I called B2B and the rep told me he had to forward a request to a supervisor waive the 5$ fee(Can you believe that! I knew it's an excuse.). Several days later, I logged in my B2B account and did not see the refund. So I am done with B2B and transfered all my money to Tangerine just to miss the 2.8% GIC as B2B outbound transfer took 3 days while the same day by other Alterna. I have accounts with Motive,Alterna,Peoples Trust,EQ and Tangerine without bad experience except B2B and Oaken.

emax1234 on B2B Bank

Thu, 09 Apr 2020 05:19:00 -0700

After months giving Laurentian's B2B and LBC services a trial (tempted by their initial promo rates), I have to pull the plug. Service levels are far too low. The website is broken more often than not. This isn't just an inconvenience but occasionally makes it impossible to transfer funds when needed.

I can't risk having my deposits held hostage like this, sometimes waiting for days until CS reps are back in the office to respond to calls. Most contact with CS staff has not been particularly responsive - far less helpful than my experience with other financial institutions.

I want a reliable online service that works when I need it - including evenings and weekends - and not a 1980s-style phone-for-service only to get a bureaucratic/unhelpful response. The small interest bonus (which has now dropped) simply doesn't compensate for the hassle, risk and wasted time.

Not recommended.

hwyc on March interest calculation

Tue, 07 Apr 2020 22:01:32 -0700

SaverJunior said
... month of March (i.e. from Feb 29 to Mar 30 inclusive)?

That's what I missed. Thanks to both.

Norman1 on March interest calculation

Tue, 07 Apr 2020 07:06:38 -0700

The March interest credited to my LBC Digital HISA is okay.

The per-diem rate for the days in 2020 is the per-annum rate divided by 366, instead of by 365.

There were three different interest rates for time covered by the March 31 interest payment:

3.30% per annum for February 29
2.80% for March 1 to 13
2.25% for March 14 to 30

SaverJunior on March interest calculation

Tue, 07 Apr 2020 03:31:17 -0700

Same here. Interest received for January and February were correct. But that for March falls short. I suspect it has something to do with how the bank handles the leap day. Can anyone share the method LBC/B2B calculate the interest for month of March (i.e. from Feb 29 to Mar 30 inclusive)?

stingray on March interest calculation

Thu, 02 Apr 2020 01:55:46 -0700

B2b / Lbc double check your % folks, my acct short $$, Inaccurate and Incompetent ...no excuse...beware

RicksBank on Limit on number of accounts

Sun, 22 Mar 2020 14:27:44 -0700

Bud said
What do u mean nicknames? still only one 100k cdic coverage per multiple nicks?

My having 4 accounts has nothing to do with CDIC coverage. That was other people's guess. I assume my $100k coverage is for the total of all 4 accounts (but I never even looked into that).

My 4 accounts have nicknames like "Rick", "Mom", "Joint", etc. Nicknames are a lot easier to recognize than trying to remember which account number is which account. Some banks support nicknames; some don't. Tangerine does; B2B does not.

Bud on Limit on number of accounts

Sun, 22 Mar 2020 13:50:33 -0700

RicksBank said
Many banks allow for several accounts, usually supporting nicknames for various budget items, savings goals, etc.

What do u mean nicknames? still only one 100k cdic coverage per multiple nicks?

RicksBank on Limit on number of accounts

Sun, 22 Mar 2020 12:01:51 -0700

Bill said
Just curious...…..what can you do with 4 accounts that you can't do with one?

Sorry Bill, I only saw your question today.

One is emergency money I'm holding for my 96-year-old mother, one is other estate money I'm holding, one is joint (in our minds, not officially with the bank) with my wife, and one is my money which of course might as well be in the joint account (except that I'm free to use it to buy guitars LOL).

Many banks allow for several accounts, usually supporting nicknames for various budget items, savings goals, etc.

doug on B2B HISA 2.25% effective March 14, 2020

Fri, 13 Mar 2020 06:44:20 -0700

bhuc said
The good times ... they are over ! Savers are being punished again

The good times came back?

Cheers,
Doug

bhuc on B2B HISA 2.25% effective March 14, 2020

Fri, 13 Mar 2020 06:42:33 -0700

The good times ... they are over ! Savers are being punished again