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Email this12:44 pm
September 29, 2017
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It turns out that Motive has recently changed the max limit for withdrawals online. It used to be $150K/transaction. As of Aug 15, 2024, that limit is now $50K PER DAY! I am told it is because they experienced some fraud and made a quick and permanent decision to change the limit.
You can still call in to override this limit.
3:47 pm
January 9, 2011
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smayer97 said
It turns out that Motive has recently changed the max limit for withdrawals online. It used to be $150K/transaction. As of Aug 15, 2024, that limit is now $50K PER DAY! I am told it is because they experienced some fraud and made a quick and permanent decision to change the limit.You can still call in to override this limit.
Thanks. Still a lot better than some, like Tang for example.
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
7:50 pm
October 21, 2013
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True, it's better than Tang, but Tang still offers chequing.
5:15 am
December 20, 2019
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smayer97 said
It turns out that Motive has recently changed the max limit for withdrawals online. It used to be $150K/transaction. As of Aug 15, 2024, that limit is now $50K PER DAY! I am told it is because they experienced some fraud and made a quick and permanent decision to change the limit.You can still call in to override this limit.
Absolute nonsense, at saven I can transfer with no limits.
I was annoyed even at simplii because you cannot transfer more than 50k from account to account. If you want to do 250k you have to do 5 transactions but you can push or pull unlimited.
I would never do larger deposits with an institution that limits what I can withdraw.
9:01 am
December 27, 2021
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To make withdrawals larger than $50K you simply call in and they will do it on your behalf.
11:40 am
September 29, 2017
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Yes, already stated.
10:28 am
February 15, 2023
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Just wondering if anyone here has had any problems withdrawing from their Motive Financial TFSA Savings Account. My wife has one of these accounts along with a number of TFSA GICs that will all be maturing in 2026 - with instructions to not renew. The intent is to move the Savings Account balance to someplace else (withdraw now and recontribute that amount in 2026) and do the same with the matured GIC amounts in 2027. When she tries to make an online withdrawal from the Savings Account the transaction is denied. She has tried amounts down to $10K with no luck. Is Motive Financial now NOT allowing any TFSA withdrawals unless you call them??? Obviously this is all related to the (unwanted) move to NBC...
10:44 am
December 12, 2009
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smayer97 said
It turns out that Motive has recently changed the max limit for withdrawals online. It used to be $150K/transaction. As of Aug 15, 2024, that limit is now $50K PER DAY! I am told it is because they experienced some fraud and made a quick and permanent decision to change the limit.You can still call in to override this limit.
Disappointing, but not a huge issue as you can also pull funds in to your external bank account from within your external FI's online banking (will be subject to standard hold periods and limits, which shouldn't be an issue for savings deposits) to bypass the limit (as this is a Motive-initiated limit). Alternatively, you can move the funds to your chequing account at Motive Financial and write yourself a cheque. 
4:49 am
September 30, 2017
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LarryS said
Just wondering if anyone here has had any problems withdrawing from their Motive Financial TFSA Savings Account. My wife has one of these accounts along with a number of TFSA GICs that will all be maturing in 2026 - with instructions to not renew. The intent is to move the Savings Account balance to someplace else (withdraw now and recontribute that amount in 2026) and do the same with the matured GIC amounts in 2027. When she tries to make an online withdrawal from the Savings Account the transaction is denied. She has tried amounts down to $10K with no luck. Is Motive Financial now NOT allowing any TFSA withdrawals unless you call them??? Obviously this is all related to the (unwanted) move to NBC...
There are multiple sentences put together in a paragraph.
FWIW, I withdrew my TFSA $$$$ to my non-registered Savvy last week. The amount is under Interac limit. No problem sending it out from my non-registered Savvy. On Saturday, I also transferred "Oct TFSA interest paid" to non-registered Savvy, bringing the TFSA balance down to $0.
3:46 pm
February 15, 2023
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hwyc said
There are multiple sentences put together in a paragraph.
FWIW, I withdrew my TFSA $$$$ to my non-registered Savvy last week. The amount is under Interac limit. No problem sending it out from my non-registered Savvy. On Saturday, I also transferred "Oct TFSA interest paid" to non-registered Savvy, bringing the TFSA balance down to $0.
In my wife's case she was trying to transfer to an external linked account (doesn't have a Savvy account). After talking to a Motive CSR today we found out you have to use the "Future/recurring external bank transfer" option. Who knew...not very intuitive.
8:28 am
November 9, 2025
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Successfully transferred 100K from our joint account today. Logged in under my membership & transferred 50K, then logged in under wife's membership & transferred another 50K from the same joint account.
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