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Hubert now has free EFT (funds transfer) from US dollar accounts
February 6, 2017
10:48 am
Brainer
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Hubert is now doing US dollar EFT (fund transfers) at no cost.
Received this in my inbox this afternoon:
You told us what you wanted, and we listened: US dollar electronic fund transfers are officially available at happysavings.ca.
Hubert members are now able to transfer US dollars to and from external financial institutions (located in Canada) at no cost. Now go ahead and link your external account by selecting ‘manage transfer accounts’ from the left hand menu. We’ll send a small verification deposit to your US external account to confirm the account. Once you receive the small deposit log back into Hubert and confirm the deposit and viola you’re ready to transfer in US dollars!
We’re here to help if you have any questions!
Sincerely,
Hubert

February 6, 2017
9:13 pm
implode
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Nice. I was waiting for this self-help transfer before opening an account.

February 6, 2017
11:19 pm
moneyhelp
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implode said
Nice. I was waiting for this self-help transfer before opening an account.  

I echo this sentiment. Might open one tomorrow. 🙂

February 9, 2017
7:50 am
Heddie
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Another bonus: I just talked to someone at Hubert and they pointed out that the Deposit Guarantee Corporation of Manitoba covers foreign currency to an unlimited amount. The DGCM website confirms this here: http://depositguarantee.mb.ca/.....whats-not/

February 24, 2017
1:23 am
implode
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Opened my CAD account first, and then upon getting activated and my membership number, I opened a USD account. Just in the process of linking accounts. The CAD ones are complete. USD accounts still in process. Can't wait to start transferring over my parked USD at my existing institutions. 0.75% >> 0.15% at Tangerine or even less at a big 5 bank.

February 27, 2017
10:31 am
implode
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Initiated a USD transfer on Feb 25th online. Today on the 27th, I got an email confirming my request is initiated. It seems to me that Hubert Financial processes the requests manually?!?

February 27, 2017
2:56 pm
Loonie
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I don't think much really happens outside of regular banking hours, especially since a corresponding external bank is involved. Even Tangerine, which is among the most efficient, says "next business day" if you ask them.

March 5, 2017
3:54 pm
Doug
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implode said
Initiated a USD transfer on Feb 25th online. Today on the 27th, I got an email confirming my request is initiated. It seems to me that Hubert Financial processes the requests manually?!?  

I don't believe that's the case. Hubert and Tangerine's are automated while Implicity's are automated and you actually have to ask Implicity to credit you back for the small debit amount that they debited from your external bank account to be linked. 🙂

Agree this is great news for Hubert though!

If I lived in Manitoba, I'd definitely bank with them even if it meant maintaining $1000 in my chequing account to avoid service fees. They have pretty nifty Safe Deposit Boxes that can be accessed via a retina or thumbprint scan 24/7 at several branches with 24/7 video monitoring and glass that "frosts up" automatically for privacy when you swipe your debit card to enter the room. Pretty cool stuff!

Cheers,
Doug

April 1, 2017
11:51 am
implode
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First full month at Hubert. Like seeing the interest accrued is 5x what I was getting from Tangerine 🙂

April 17, 2017
8:01 am
Nehpets
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Have become a depositor at Hubert recently as well, and am impressed by their overall service and attitude.

Enjoyed receiving the cool welcome gift of the coin substitute for shopping carts too!...sf-smile

August 13, 2017
1:28 pm
moneyhelp
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implode said
First full month at Hubert. Like seeing the interest accrued is 5x what I was getting from Tangerine 🙂  

For what kind of account? GIC? or regular savings/US savings?

August 13, 2017
2:49 pm
rhvic
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moneyhelp said

For what kind of account? GIC? or regular savings/US savings?  

It is a $US savings account.

August 13, 2017
4:58 pm
semi-retired
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Hello people Just did a quick check on US $ buying rates.As of right now Tangerine 1.294 % Hubert 1.2857 % .Worth while buying at Hubert to save a few bucks.Hubert's pays way more int. in their US savings account & it is insured.

August 13, 2017
6:45 pm
moneyhelp
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semi-retired said
Hello people Just did a quick check on US $ buying rates.As of right now Tangerine 1.294 % Hubert 1.2857 % .Worth while buying at Hubert to save a few bucks.Hubert's pays way more int. in their US savings account & it is insured.  

For those who want something simple and done with, I agree, otherwise, if its >$1K, and you have a brokerage account (preferrably one that does not charge to buy ETFs) its far cheaper to do a Norbert's Gambit. Granted, it can be confusing for some, but overall, can't beat it on cost.

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