Laurentian Bank vs Motive Financial (Night vs Day) | General comparisons | Discussion forum

Had two interesting experiences recently.

Part 1: Late in 2018 we had a GIC come due at Laurentan Bank. In the past they had deposited our annual interest from the 5 year GIC to our home, "Big 5" bank (not Laurentian). We asked that the principal and interest both be deposited to our bank on maturity. They had our home bank information to be able to do this. It eventually took 7 days for the money to arrive in our account. I could go into the sorry details of why it took so long, but it would be really boring. They managed to agree to giving us an additional 5 days of interest for our inconvenience. It should have been 7 days, but they said they couldn't do that. One employee of theirs actually said that they shouldn't have to give us interest for Saturday and Sunday because they were closed those days. You can only imagine what my response was to that.

Part 2: Yesterday, a Sunday, we had a GIC mature at Motive Financial. The money actually went into our Motive account on a Sunday morning. I immediately initiated a transfer to our home, "Big 5" bank and, guess what? This morning, Monday, one day later, the funds had arrived! The miracles of life never fail to astound me. Actually, the stupidity of life never fails to astound me either.

Just wanted to share that.