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5.75% 120 Day GIC
January 9, 2024
7:32 am
RYAN
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I decided not to buy any GIC from MF disregarding its rate. Because 1. Its GIC is auto-renew at maturity when bought online. 2. It's hard if not impossible to get through its phone line to change the maturity option to undo auto-renew.

January 30, 2024
9:09 am
GR
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Reminder that this promo of 5.75% for 4 months GIC is SCHEDULED to end tomorrow, Jan. 31.

No wait time for CSR to answer phone this morning.

February 1, 2024
7:01 am
GR
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The promo rate is now 5.50% for 4 months GIC; offer available until March31, 2024.

February 2, 2024
1:00 pm
LK
British Columbia, Canada
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The promo page should be updated to show 5.50% (not 5.40%), and per the post above the expiry is March 28/24 (not March 31).

https://www.motivefinancial.com/en/120-day-gic

February 3, 2024
3:23 pm
rhvic
Victoria, BC
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Note that the promo rate of 5.5% for 120 days is for new money only. I have a GIC at Motive which matures next week, but presume I could not get this rate as the money is considered 'old'.

By the way, I did call Motive re that GIC which renews this week, as of course it was set to automatically renew for another one year term. I was pleasantly surprised to get a return call within five minutes of leaving a message, during which I asked instead that it be put in my savings account. Sadly, when I did get the call-back, I was taken aback that the person did nothing to identify herself, just said 'what can I do for you?" without telling me she was returning my message to Motive. Poor service quality.

February 5, 2024
12:51 pm
smayer97
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Does Motive use a waterline approach, like Tangerine, or does it treat ALL transfer in as new money, even if it is withdrawn, then moved back in, like DUCA does?

February 6, 2024
5:57 am
Alexandre
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My 5.75% promo GIC matured today, funds deposited to Savings account. Exactly as I instructed CSR over the phone when opening GIC.
Just FYI.

February 6, 2024
6:40 am
savemoresaveoften
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smayer97 said
Does Motive use a waterline approach, like Tangerine, or does it treat ALL transfer in as new money, even if it is withdrawn, then moved back in, like DUCA does?  

I dont think they do or it will be mentioned I believe.
Most likely they will monitor it similar to Duca, which is why you need to call in and the rep will "check" if the money qualifies. And how they check depends on the rep obviously 🙂

February 8, 2024
9:08 am
Bill
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Just called Motive, have a 120-day GIC maturing to savings account in a few days, to get the current 120-day 5.5% rate GIC for new money I have to move the matured funds out of Motive and then back in, according to phone rep.

Their site says "This special interest rate only applies to funds not held on deposit at Motive Financial prior to November 1, 2023".

The phone rep came on immediately, in all my years with Motive I've never experienced waits like some people on here are reporting, always been pretty much immediate for me. In general I've always experienced top-notch service with Motive.

April 1, 2024
1:27 pm
GR
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The promo for a 4 month GIC with new money at 5.50% p.a. has been extended to May 31, 2024.

April 10, 2024
7:59 pm
Lamaison
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Bill said
Just called Motive, have a 120-day GIC maturing to savings account in a few days, to get the current 120-day 5.5% rate GIC for new money I have to move the matured funds out of Motive and then back in, according to phone rep.

Their site says "This special interest rate only applies to funds not held on deposit at Motive Financial prior to November 1, 2023"..................

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So has anybody tried this and can confirm that it indeed works i.e. move money out and then back in and into the 120-day GIC?

EDIT: Just checked and there site now says: ".......buy a GIC with new money. New Money is defined as funds not held on deposit with Motive Financial prior to February 1, 2024".

April 12, 2024
10:57 am
Lodown
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Lamaison said

Bill said
Just called Motive, have a 120-day GIC maturing to savings account in a few days, to get the current 120-day 5.5% rate GIC for new money I have to move the matured funds out of Motive and then back in, according to phone rep.

Their site says "This special interest rate only applies to funds not held on deposit at Motive Financial prior to November 1, 2023"..................

-
So has anybody tried this and can confirm that it indeed works i.e. move money out and then back in and into the 120-day GIC?

EDIT: Just checked and there site now says: ".......buy a GIC with new money. New Money is defined as funds not held on deposit with Motive Financial prior to February 1, 2024".  

So, does money in a GIC constitute "funds held on deposit" or is it just what is in the daily interest bank accounts?

April 12, 2024
11:02 am
savemoresaveoften
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Lodown said

So, does money in a GIC constitute "funds held on deposit" or is it just what is in the daily interest bank accounts?  

i believe they count everything under ur name. GIC is a fixed deposit.

May 22, 2024
10:04 am
thegov
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Just received a call from Motive out of the blue - at least that's who they said they were and the caller id looks correct.
Asking if I was interested in the 120-Day GIC which expires at end of month.

Has anybody else received sales calls from them?
They must be short of funds if they've started that.

Or was this perhaps a scam?

May 22, 2024
11:13 am
HermanH
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My mother received a call from Motive, according to callerID, asking to discuss her investment profile. The Ph# for Motive was correct and matched their public web page. I called the # to confirm. So, cold calls apparently do occur.

May 22, 2024
11:13 am
Warwick111
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thegov said
Just received a call from Motive out of the blue - at least that's who they said they were and the caller id looks correct.
Asking if I was interested in the 120-Day GIC which expires at end of month.

Has anybody else received sales calls from them?
They must be short of funds if they've started that.

Or was this perhaps a scam?  

I received the call yesterday and didn't think it was a scam. Offer was 5.5% for 120 day GIC expires end of the month.

May 22, 2024
1:36 pm
Dean
Valhalla Mountains, British Columbia
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.
So to attract more funds, Motive is having to make cold calls now ... LOL❗

They'd be Far More successful if they would just Finally break-down and fix all the bumps, worts, pimples & wrinkles in their *&^%$#@ Website. sf-confused

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

May 22, 2024
2:23 pm
savemoresaveoften
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ntg wrong with cold call or that they are desperate to need money. let the staff work instead of sitting on their arse chatting among themselves 🙂

May 22, 2024
2:37 pm
lifeonanisland
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Maybe they wouldn't have to resort to cold calls if their google reviews didn't look like this.

Untitled-1.jpg

May 22, 2024
4:51 pm
Loonie
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We would have probably bought one if it weren't such a pain for existing customers to open a joint account, and almost impossible to reach them by phone.
Might try again if they extend the offer.

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