Hubert happysavings at 2.5% | Page 4 | Hubert Financial | Discussion forum

aristotle said:

Excuse the stupid question, this is my first post. I'm an Ontario resident, this is a Manitoba credit union. How do they verify identity? Usually, when opening a new financial account, I have to go down and show lots of personal ID: driver's license, passport, etc. How is this done online?

They do it the same way as the likes of ING Direct and Ally. You must supply a cheque from a regular bank account where that bank would have validated your ID in the first place. That cheque must be preprinted and have your name and address on it, the same as what you supplied when you opened your account with the new online institution. That cheque must also clear the financial system as well.