November 12, 2022
Called Vancity today, regarding setting up a Jumpstart account. Important points to note:
1. To set up online access to your account, including transfer in of funds, they require a HARD credit check. My credit score is perfect, but to me this was a dealbreaker; not worth taking the hit considering I have no plan on BORROWING from them.
2. When trying to get your funds out of the account, there is a maximum of $3000 per E transfer, at $.90 each. Max $10,000 per day.
To transfer a larger amount out, must take wire transfer form to branch, cost of wire transfer $20.
3. As others have mentioned, to set up initial account, need to go to branch in person.
1. Yes, during account opening, they did a hard credit check. Then, offered various VISA cards and personal line of credit, which I was not interested in.
2. It is possible to move funds out via a Vancity checking account. There is a $300 bonus for becoming a member and opening a checking account.
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