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Hubert Financial. Everyone still happy?
February 6, 2017
12:34 pm
mmlt
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I'm very close to pulling the trigger with Hubert. Communications are fast and helpful. The rates look good.
Does anyone have complaints or comments?
Thanks all.

February 6, 2017
8:28 pm
Loonie
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I have been with them for 2 or 3 years and like them. Have not done registered accounts there yet.

I think they're fairly responsive to what people actually want. It takes a little time to introduce new things, but they get it done.

For me, they are the best of the MB CUs, and perhaps the best of any of the online CUs. AlternaBank, not really a CU but owned by one, is better for a savings account rate but who knows how long that will last and they don't offer much else.

It will be interesting to see what MeridianBank comes up with.

February 7, 2017
10:51 am
moneyhelp
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After learning about the free USD account EFT is now in effect, I think I may finally open a US account with Hubert. At least Hubert rate is 0.75% vs RBC/Tangerine's 0.15%.

I agree with Loonie, every time I email them with a question, they are pretty fast with a reply, so I think they do listen to people requests/wants.

My only want with them now is the iOS app that apparently is in development and I hope (at least from what I've read on other threads here) that their online user experience is simple, intuitive and clean. I know this is just bells and whistles, but I work in tech and so these things for me are a huge indication whether a company is investing into itself by improving the customer journey.

I still think Tangerine has the best online and mobile app experience from any other financial institution I've been with, which are:

Achieva
RBC (they actually have improved on the clean and easy to understand UI)
Questrade
E*Trade
Manulife
Desjardins (although this is insurance for me)

February 7, 2017
6:08 pm
mmlt
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Thanks for the recommendations! I've had a bad taste in my mouth with online banks after dealing with PC Financial. Did they ever suck.

February 7, 2017
6:28 pm
Loonie
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I have avoided PC so far. Judging by what they say online and by the experiences of others here, you really have to monitor them closely. I already have enough to do keeping on top of things!

However, I might be willing if the offer is good enough to compensate for the extra hassle, but only for savings/chequing accts. I couldn't bring myself to trust them for anything more complicated.

I know nothing about the tech aspect.

February 7, 2017
7:00 pm
mmlt
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PC had the worst customer service. Transactions took forever to clear. They bounced a cheque on us. The account showed the deposit but when I queried an agent I was told the funds had not cleared. This was after some days. They never made an attempt to contact us and we had ample funds in another savings account. Customer service agents were pretty snarky. That was the end of PC for us.

February 7, 2017
7:51 pm
Norman1
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mmlt said
PC had the worst customer service. Transactions took forever to clear. They bounced a cheque on us. The account showed the deposit but when I queried an agent I was told the funds had not cleared. This was after some days. They never made an attempt to contact us and we had ample funds in another savings account. Customer service agents were pretty snarky. That was the end of PC for us.  

I think it was really the hold period on the deposit had not passed.

I don't think it has anything to do with clearing, eventhough the return reason was "funds not cleared" instead of "not sufficient funds".

PC Financial has individual hold policies for customers. I know one customer who has immediate access to something like the first $10,000 of any deposit. The rest of the deposit has a five day hold.

I would say nowadays that calling the customer and searching for funds from other accounts to avoid a bounced cheque is considered a "premium" banking service. I don't expect PC Financial to do that.

February 7, 2017
7:56 pm
Norman1
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mmlt said
I'm very close to pulling the trigger with Hubert. Communications are fast and helpful. The rates look good.
Does anyone have complaints or comments?

I deal with Hubert and am happy with them.

Hubert will expire and force one to change the online banking password periodically. I think it is every six months.

February 7, 2017
8:36 pm
mmlt
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Norman1 said

I think it was really the hold period on the deposit had not passed.

I don't think it has anything to do with clearing, eventhough the return reason was "funds not cleared" instead of "not sufficient funds".

PC Financial has individual hold policies for customers. I know one customer who has immediate access to something like the first $10,000 of any deposit. The rest of the deposit has a five day hold.

I would say nowadays that calling the customer and searching for funds from other accounts to avoid a bounced cheque is considered a "premium" banking service. I don't expect PC Financial to do that.  

Thanks for the explanation. This happened several years back and we were horrified at time. I guess that's the difference between brink&mortar and an online entity. We had substantial funds with PC at the time and were quite dismayed no courtesy call/email. It was embarrassing and probably affected our credit rating.

February 8, 2017
4:23 pm
SavingIsGood
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Highly recommend. All my $ are with Hubert (unless Tang has promo better than 2.5%). 60% are in 1year GIC. You can cash it whenever you want and not loose interest if you cash it at 'anniversary' date (every 3 months).
Never use e-mail communication with them; only chat. They are very responsive, patient and understanding.
Again, highly recommend. Have experience with most Manitoba CUs. Hubert is easiest to work with.

February 8, 2017
7:07 pm
Norman1
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mmlt said

…This happened several years back and we were horrified at time. I guess that's the difference between brink&mortar and an online entity. We had substantial funds with PC at the time and were quite dismayed no courtesy call/email. It was embarrassing and probably affected our credit rating. 

With the reductions in branch staffing levels, I'm not sure the brick & mortar banks will have an agent call or search for funds to cover a cheque.

I think most will ask the customer to sign up for some kind of overdraft protection option where the bank will automatically loan the funds to cover the cheque.

The closest to searching for funds is National Bank's overdraft protection service:

Overdraft protection provides a safety net against a cash shortfall, by drawing the missing cash from another of your eligible products that does have sufficient funds ($5 fee for transfers).

By signing up for this service, you avoid account overdrafts by obtaining the necessary cash to cover cheques, electronic funds transfers, purchases with the Client Card, withdrawals, transfers and bill payments made via ABM or through a TelNat agent.

With your authorization, the overdraft is covered by funds transferred from one of your transaction accounts, your personal line of credit, or by a direct cash advance from your MasterCard.

February 8, 2017
7:34 pm
Bear
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Hubert will expire and force one to change the online banking password periodically. I think it is every six months.  

I had to call to reset my password recently and the lady told me they removed the mandatory password update but still recommend, guess I'll find out in 6 months if this is true.

February 9, 2017
10:47 am
mmlt
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Thanks for the comments! I'm signing up with them today. Their one year rate is excellent as well.
Sure glad I found this place!

February 9, 2017
12:46 pm
ertyu
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I was reminded today of one of my pet peeves. All GICs are set to renew automatically, this is not indicated in online banking. You have to talk to a customer service agent to find out about it and get it changed. But further to that, I frequently get the wrong answers about what state my GICs are in. I always make sure to ask several times to double check as it's fairly easy to manually renew a GIC but pretty difficult to undo an automatic renewal.

February 9, 2017
1:10 pm
mmlt
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I have to set up a reminder email sent a week or two before the event happens or I'm bound to miss it.

February 12, 2017
10:37 pm
Loonie
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Unfortunately, most FIs have an auto-renewal default. I had trouble with one even when I had very explicitly said, from the beginning (and repeatedly) that I did not want this and it was supposed to not happen. However, they can all reverse it if they choose to cooperate, for at least a week.

The only FI that I know for sure does not do this is Oaken. They give you a choice when you fill out the form for the GIC, and they honour it. I chose for the matured amount to be sent back to the originating external bank account. This was done, and it arrived even before the maturity date! There is no reason they can't all do this - if they want.

With Hubert's one-year GIC, however, which I suspect is their most popular one, it is cashable at any time, so it's not a problem if you miss the date. You will just miss the interest from the roll-over date.

One small bugbear that I have with Hubert is that their email responses are not signed by anyone. They are just signed "Hubert". I find this annoying as I like to know to whom I spoke. But it's a small issue.

February 23, 2017
8:47 pm
Peseta
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Looks like you've already made up your mind to sign up, but I have nothing but good things to say about them. They are fast in communicating and their product has just been improved with online USD transfers and a mobile banking app.

Happy banking!

February 26, 2017
7:34 am
SavingIsGood
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"Unfortunately, most FIs have an auto-renewal default."
Why is that unfortunately? It is simpler for them (imagine you have ONLY GIC with FI so what are they are going to do with your money after they mature??? Give to the local shelter?). Do you expect them to have one dedicated person to call every client and let them know their GIC is due? Sure: for a 'nominal' fee you might get personalized lap dance too...

YOU have a brain or a cell phone - use it. Make reminder when it matures, then talk to FI providing further instructions.

Hubert is great regarding their GIC as they send you an e-mail a MONTH in advance that your term is coming to an end. 1 minute chat, if you do not want to talk, is enough to change default 'auto-renewal' to something else.

February 26, 2017
10:20 am
Top It Up
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ertyu said

I was reminded today of one of my pet peeves. All GICs are set to renew automatically, this is not indicated in online banking.  

It's pretty easy to diarize renewal dates these days so I'm not sure about the ballyhoo. Maybe all CUs aren't created equal BUT here's what it says in the details of an Outlook GIC

"Your Outlook GIC is automatically set up to renew into the same length of term at the current rates unless you have provided other instructions to us.

To give us instructions for renewing your GIC:

- Contact us.
- Our representatives would be happy to discuss your options and update your renewal instructions."

Just doesn't get much easier than that ... and if that's too much of a hassle . well . just leave it in a high-interest savings account ... and forget about it.

February 26, 2017
12:47 pm
ertyu
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I agree it is not difficult to contact customer service to change the GIC status, I would prefer it to be indicated and selectable online.
The other part of my statement is being missed:

But further to that, I frequently get the wrong answers about what state my GICs are in.

When I do contact customer service, I've had several occasions where they either told me that my GIC was set not to renew or that they made the change to set it not to renew and this information has been incorrect.

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