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Change in Max Withdrawals Online
November 4, 2024
12:44 pm
smayer97
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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.

November 4, 2024
3:47 pm
dougjp
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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.

"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green

November 5, 2024
7:50 pm
Loonie
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True, it's better than Tang, but Tang still offers chequing.

November 6, 2024
5:15 am
KamWest
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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.

November 11, 2024
9:01 am
MAC99
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To make withdrawals larger than $50K you simply call in and they will do it on your behalf.

November 11, 2024
11:40 am
smayer97
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Yes, already stated.

Please write your comments in the forum.