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New website coming in January
April 15, 2020
8:16 am
Dean
Slocan Valley, West Kootenays, BC.
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Heddie said

. . . Should I be concerned?  

I would say 'Yes'. What did the Hubert CSR have to say about it, when you called them ❓

This is just one of the 'Many' problems @ Hubert. At least you're moving your money in the Right direction ... Outta There

sf-cool " Live Long And Prosper " sf-cool

April 15, 2020
8:32 am
Doug
British Columbia, Canada
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Dean said

Heddie said

. . . Should I be concerned?  

I would say 'Yes'. What did the Hubert CSR have to say about it, when you called them ❓

This is just one of the 'Many' problems @ Hubert. At least you're moving your money in the Right direction ... Outta There ❗  

Dean, thanks for your reply, but that's incorrect advice. The online banking system is simply a customer-facing overlay on top of the financial institution's core banking system, both of which are internally developed at Sunova/Hubert.

While it's unfortunate the transaction reference number is no longer displayed after completing a transaction (I would raise the issue with Hubert customer service and, if you get no action within 3-6 months, then follow up directly with a Sunova executive, perhaps the COO), one advantage to Hubert GO (new online banking system) is you can now click into any transaction, including previous transactions, and display fuller transaction narrative detail and EFT tracing number information. Few institutions offer this level of detail...only HSBC Bank Canada and Hubert/Sunova offer this. So, that's actually a positive.

Cheers,
Doug

April 19, 2020
6:35 pm
Briguy
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Just as a foil against all this negativity against Hubert, I still keep most of my RRSP money with them as they are still my favourite FI.

April 19, 2020
6:45 pm
Doug
British Columbia, Canada
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Briguy said
Just as a foil against all this negativity against Hubert, I still keep most of my RRSP money with them as they are still my favourite FI.  

I agree, @Briguy. Hubert still is consistently a top 3 or 4 direct-to-consumer GIC issuer. Easy to open an account and link external accounts. I actually am liking the new online banking interface better than the old—more secure, too, as no longer are your downloaded e-Statements deposited into a directory that, potentially, someone else could download if they knew your member number and what month and year of statement you downloaded. My only issues with Hubert, really, are:
- no mobile cheque deposit yet, though Sunova GO has that functionality, I think;
- statement transaction narratives could be more detailed and the per line character limit raised; and,
- online bill payment or Interac e-Transfer functionality would be nice.

Not sure what @Dean's and @GICinvestor's main issue with Hubert it is, but suspect it's just griping about their decline in HISA rate, which, in my mind, is a pretty minor thing.

Cheers,
Doug

April 19, 2020
7:01 pm
GICinvestor
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Not sure what @Dean's and @GICinvestor's main issue with Hubert it is, but suspect it's just griping about their decline in HISA rate, which, in my mind, is a pretty minor thing.

New website not that user friendly
Online GIC application is incomplete vs Oaken
No 1 year RRIF
No acceptance of E transfer.
No ATM access
No cheques

Loonie May have more.

April 19, 2020
7:07 pm
Doug
British Columbia, Canada
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GICinvestor said

Not sure what @Dean's and @GICinvestor's main issue with Hubert it is, but suspect it's just griping about their decline in HISA rate, which, in my mind, is a pretty minor thing.

New website not that user friendly
Online GIC application is incomplete vs Oaken
No 1 year RRIF
No acceptance of E transfer.
No ATM access
No cheques

Loonie May have more.  

Cheques are on their way out. Mark my words, the total revamp of the Canadian payments system, led by the Bank of Canada and federal government, likely will see paper-based cheques eliminated from circulation by 2030-2031 (that's my strong prediction). The new auto-enrollment of CRA direct deposits will likely spur most of the remaining 10% of Canadians that don't have government payments direct deposited. As at year end 2014, 85% of Canadian residents and businesses had their government of Canada payments direct deposited.

ATM access wouldn't be critical with Interac e-Transfers (sending and receiving). It's a savings account.

1-year RRIF GIC would be nice, yes, I agree.

Nothing wrong with the online GIC application—it's basically perfect. I've yet to find a "perfect" GIC application that lets you specify maturity instructions, even Peoples and Concentra mandate auto-renewal or payment to a Peoples or Concentra HISA. External accounts should be an option. Nevertheless, this isn't a Hubert-specific problem. In short, 95% or better of FIs GIC applications are imperfect.

EQ Bank is far worse, in my view, as transaction narratives are non-existent, they post interest for the preceding month on the following month, saving them 12 extra days of compounding as @Loonie noted, and they use a non-standard method of statement presentation, presenting newest transactions first when 99% of FIs don't do this.

April 19, 2020
8:01 pm
GICinvestor
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My opinion remains the same.
New website not that user friendly
Online GIC application is incomplete vs Oaken
No 1 year RRIF

I can alter my opinion to have at least E transfer of the 3 below.
No acceptance of E transfer.
No ATM access
No cheques

Loonie May have more

April 19, 2020
8:46 pm
Loonie
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I would add the poorly designed statements, which take far too long to decipher.
The lack of a one-year RIF GIC is a problem - and bizarre.

While I don't fault Hubert for choosing not to offer cheques, I do prefer to have access to them.
Cheques may be "on their way out" but this is a mistake for clients.
EFTs take longer and longer every year, it seems. I now have to allow a few days for pulls (and up to 2 weeks for them to clear) but I can still deposit a cheque and start collecting interest immediately. Nothing is better than a cheque for pulling large amounts immediately into an account with a superior rate or in order to get a timely GIC.

April 20, 2020
9:23 am
GICinvestor
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Thanks Loonie I knew I had overlooked an obvious one!

Also, their surveys. They don’t reflect in improvements from what we say. So what is the point of doing their surveys? I have always been suspect of surveys as the questions are often massaged to provide positive results to report or to confirm changes they wanted to do all along.

April 20, 2020
9:38 am
ritawije
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Ten days ago I saw that the new Hubert site now shows maturity date and next interest date when we click to see all accounts. That's very helpful for those of us with multiple laddered T12Q one-year GIC accounts. It is a feature some of us had asked for. Credit to them for listening and responding to that request. Thanks, Hubert!

April 20, 2020
12:20 pm
Loonie
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A lot of surveys do seem to have pre-determined results. I find Hubert's are relatively open-ended, but they ignore my suggestions so I don't bother with them any more and have removed most of my funds for various reasons.

June 24, 2020
9:34 am
krwilson
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The former Hubert Online banking site is retiring on July 2.

The time has come for us to officially retire our old online banking site. The last day you will be able to use it is July 1. On July 2, the login link will automatically redirect you to our new online banking site.

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