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Stable platform?
May 11, 2020
10:12 pm
crediphile
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What's your experience in using LBC Digital? What is the quality of their platform? Is it stable and error-free? I am thinking of opening account with them but I would like to get your take on them before I proceed. I am encountering problems even just at the process of applying for an account with them online. They have flatly rejected my application because they couldn't verify my information with Equifax and refused to do anything for me and instead just advised me to contact Equifax. is this something that any of you have experienced? I am also seeing quite a few technical issues that are existing in LBC Digital right now. Is that the norm? I mean they are paying a higher interest rate but if I am going to be working with an unsafe and unstable banking platform then forget it. I would rather stick with institutions with at least stable platforms even if the interest rate is lower.

Thank you

May 12, 2020
8:18 am
ertyu
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Stable and error-free, the simple answer is no.
My application crashed halfway through finalizing it and left my account half setup. I got an email that I created an account, but couldn't log in, they had to finish the process over the phone. I frequently had issues logging in, some days it didn't work at all. On a number of days it would crash and logout when I tried to pay a bill. I was glad I had left money in other accounts to cover my bills. It's sluggish and kludgy at the best of times.

May 12, 2020
9:21 am
Norman1
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The higher interest is "guinea pig pay"!

Their system has issues. My suspicion is their online banking site gets overloaded. People have problems in the evening that disappear next day during the day.

I suspect their online banking system works better during the day, when it is not as busy, because the customers are at work and not trying to do their online banking then.

May 12, 2020
11:24 am
Bill
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Have accounts at B2B and LBC, same platform from what I can tell. I just put money there and leave it as long as rate is ok, I've had a few hiccups even for the few transactions I did, definitely wouldn't use them for an active account. Laurentian's unionized plus the wording on the security questions indicates a less than perfect facility with English, maybe either or both have something to do with the poor system, maybe not.

May 13, 2020
5:52 pm
crediphile
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Thanks for the feedback. Definitely staying away from them then. I was planning to use the account as an active account. Can't even apply anyway online and they refuse to accept applications over the phone and instead just refer me to contact Equifax. Not going to waste my time with Equifax then.

May 13, 2020
8:59 pm
Norman1
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I would recommend that you contact Equifax and obtain a copy of your Equifax credit record, crediphile. There could be something off with the record, like your name spelled incorrectly or your address is wrong.

Earlier, HSY reported that Motive was not able to verify identity using Equifax. HSY contacted Equifax and discovered that the credit record only had the first letter of the first name, for some reason!

I remember someone else discovered that the surname on his record was that of his wife! His actual surname was listed as an alias.

May 14, 2020
11:04 am
emax1234
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crediphile said
What's your experience in using LBC Digital? What is the quality of their platform? Is it stable and error-free? 

Short answer: No. To the point of making it risky that you can't access your funds when needed (to do a transfer for example). Customer service is also poor. Having experienced over a dozen different financial institutions, I would NOT recommend LBC Digital.

May 15, 2020
10:54 am
rhvic
Victoria, BC
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I have not experienced any issues when signing into Laurentian. Everything seems to work fine, and currently their 2.25% rate is quite decent.

May 16, 2020
2:48 am
crediphile
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Norman1 said
I would recommend that you contact Equifax and obtain a copy of your Equifax credit record, crediphile. There could be something off with the record, like your name spelled incorrectly or your address is wrong.

Earlier, HSY reported that Motive was not able to verify identity using Equifax. HSY contacted Equifax and discovered that the credit record only had the first letter of the first name, for some reason!

I remember someone else discovered that the surname on his record was that of his wife! His actual surname was listed as an alias.  

I just most recently applied for TWO new credit cards online with absolutely no problem. Both of these credit card companies were able to verify my identity from information on file at the credit bureaus (was really surprised how much they know about me) and I was instantly approved in both cases.

Tbh, this is the very first time that I have ever encountered problems applying for an account online with any banks so it's definitely LBC's problem. And this seems to be a problem more often with online banking platforms from the smaller Tier 1 banks if this happened with Motive bank (another high interest bank that I was thinking of opening accounts with) as well because both of my credit cards and previous bank accounts were with the Big 5 banks.

June 1, 2020
9:31 pm
picassocat
Québec
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After a 2 months pause, I tried to come back to LBC digital. My first transition, a deposit using interact e-transfer failed. I tried and I tried, but every time I clicked on that Laurentian image, nothing happened, nothing. I finally made my deposit at Alterna bank. More of the same with Laurentian digital. I may try again in 2 months.

June 2, 2020
3:14 am
cruzinalong
Ontario
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picassocat said
After a 2 months pause, I tried to come back to LBC digital. My first transition, a deposit using interact e-transfer failed. I tried and I tried, but every time I clicked on that Laurentian image, nothing happened, nothing. I finally made my deposit at Alterna bank. More of the same with Laurentian digital. I may try again in 2 months.  

Use the web display feature. I had this problem as well.

June 2, 2020
7:42 am
picassocat
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web display feature?

Can you please explain?

June 2, 2020
7:56 am
cruzinalong
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picassocat said
web display feature?

Can you please explain?  

I sent a Interac e-transfer to myself (i.e. $5.00). On the top line it says View in Browser. Click. Select a different financial institution. Hope this solves your problem.

June 2, 2020
8:15 am
picassocat
Québec
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I will try it later this evening. Thanks !

June 2, 2020
9:24 am
ertyu
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I think at one point I had to pick B2B bank to deposit an Interac transfer.

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