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Email this11:53 am
April 6, 2013
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Pythagoras said
I only have a Motive Savvy Savings account. So do you think (or anyone else) that after migration, I could be subject to per-use fees, eg., for withdrawals or e-transfers?
Yes.
The Motive Savvy Savings account will be migrated to a National Bank CAD Progress Account. The CAD Progress Account will have per-use fees should one cancel "The Total" pricing package ($28.95/month) the account is initially on.
National Bank will be waiving the $28.95/month fee on "The Total" package for at least 12 months after migration. Migrated Motive clients will have 12 months to consider.
12:04 pm
April 21, 2022
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Pythagoras said
I only have a Motive Savvy Savings account. So do you think (or anyone else) that after migration, I could be subject to per-use fees, eg., for withdrawals or e-transfers?
No, you like everyone else will get the Progress CAD account with a waiver on the $28.95 monthly fee (' The Total ') for at least 12 months. Apparently, NB will give us advance notice when the waiver is coming to an end. It's then that we'll need to decide whether to switch to a cheaper monthly package, go pay-per-use on each transaction, or close the account.
12:45 pm
October 27, 2020
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Thanks Norman1 and Johnny Cash!
1:54 pm
April 6, 2013
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Pythagoras said
Thanks Norman1 and Johnny Cash!
Starting at page 9, the Motive migration guide describes the account and what "The Total" package includes:
2.1 The CAD Progress Account™
We are pleased to offer you the CAD Progress Account, a transactional account that allows you to carry out your everyday banking while earning monthly interest. …. This account has been granted to you as part of your migration to our services; however, please note that it is no longer available for new account openings. As part of your transition from Motive Financial to National Bank, your monthly package fees will be waived for at least 12 months after migration. You will receive a notice before the end of the waiver period. Afterwards, there may be other rebates and waivers that you may be eligible for.
…
The per-use fees of the CAD Progress Account are listed starting at page 75.
"The Total" pricing package includes bank drafts. While on the package, one could close the account and obtain a bank draft for the balance at no charge.
11:23 pm
January 10, 2020
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Everyone keeps mentioning having a nearby NB branch to close accounts etc.
Does anyone know if you can do things over the phone or chat or in the app such as update GIC maturing instructions, close accounts at National Bank?
There are no branches in my city, just the ATM at Circle K....
I have a GIC with Motive maturing end of January and one in April, then I am out of there!
5:00 am
September 7, 2018
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Has it been determined for sure that one can link the new NBC chq acct (to enable me-to-me transfers) in and out, to an external chq digital account eg to Simplii or to Tangerine?
I see blank cheques for the new NBC chq acct are not actually free as one has to pay a delivery charge.
7:48 am
February 14, 2014
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canadian.100 said
Has it been determined for sure that one can link the new NBC chq acct (to enable me-to-me transfers) in and out, to an external chq digital account eg to Simplii or to Tangerine?
From the Migration Guide:
3.10 Transferring Funds Between National Bank Clients
The ability to transfer funds to another client using their account number, or to your account at another Canadian financial institution, will not be available after migration. Going forward, you will need to transact using Interac e‑Transfers or wire transfers.
You may create Interac recipients by inputting email addresses or phone numbers from National Bank’s online bank. Wire payments issued from your National Bank accounts may be made in National Bank branches.
7:56 am
February 14, 2014
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canadian.100 said
Has it been determined for sure that one can link the new NBC chq acct (to enable me-to-me transfers) in and out, to an external chq digital account eg to Simplii or to Tangerine?
Hopefully one can set up electronic transfers at our other banks to push and pull funds.
9:51 am
April 6, 2013
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RicksBank said
Hopefully one can set up electronic transfers at our other banks to push and pull funds.
That's the expectation for the CAD Progress Accounts the Motive accounts will be migrated to. The CAD Progress Account can accept direct deposits and pre-authorized debits needed for Me-2-Me transfers.
Don't try to link to the Progress Accounts until the migration is done. Some Motive clients who are also National Bank clients have reported that their new Progress Account now shows up in their National Bank online banking! One established a link to their Progress Account at another digital-only bank. But, the funds transfer pushing funds to the Progress Account was bounced back.
11:49 am
September 7, 2018
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I don't think the NBC accounts offer anything special nor will they be of any real advantage to me.....and forget about NBC GIC rates.
I will not be proceeding to set up the new accounts when migration comes shortly.
Better alternatives elsewhere in my opinion. I am sure other savvy people posting here have already come to that conclusion. This thread was most useful to come to an informed decision. (as the documentation booklets provided by NBC were confusing and not user friendly.)
12:13 pm
April 21, 2022
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canadian.100 said
I don't think the NBC accounts offer anything special nor will they be of any real advantage to me.....and forget about NBC GIC rates.
I will not be proceeding to set up the new accounts when migration comes shortly.
Better alternatives elsewhere in my opinion. I am sure other savvy people posting here have already come to that conclusion. This thread was most useful to come to an informed decision. (as the documentation booklets provided by NBC were confusing and not user friendly.)
Most would agree that there doesn't seem to be anything special for accounts that migrate to NBC, other than there's no cost for " The Total " package for the first 12 months on the CAD Progress account. Perhaps there's some Savvy folks that might be curious to see if their migrated account/s get grandfathered in " The Total " package with the waiver, only one way to find out.
12:35 pm
April 6, 2013
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scrooge said
Everyone keeps mentioning having a nearby NB branch to close accounts etc.Does anyone know if you can do things over the phone or chat or in the app such as update GIC maturing instructions, close accounts at National Bank?
There are no branches in my city, just the ATM at Circle K....
I have a GIC with Motive maturing end of January and one in April, then I am out of there!
Any Canadian Western Bank branches in your city? Many of them will be migrated over time to National Bank branches.
Like other traditional large banks, National Bank is not set up for branchless digital-only banking.
1:09 pm
March 12, 2016
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I know exactly what to do...pull all my money and find somewhere else to park it. I left all the big banks decades ago, and I'm never going back. Unfortunately, they still seem to think it's a privilege for ME to pay THEM a fee so they can use MY money to make more money for THEM! LMAO! NEVER AGAIN!
I don't care how long they waive their fee. Once my GIC matures in mid-December, I'm closing everything that I never asked them to open for me in the first place. Hopefully the maturity of the GIC occurs without any glitches. That's the only concern I have moving forward.
2:52 pm
February 14, 2014
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4n2t0 said
Hopefully the maturity of the GIC occurs without any glitches. That's the only concern I have moving forward.
I read somewhere just last night that you can cancel a NBC GIC within 10 business days of purchasing it. So, if they screw up your maturity instructions and renew the GIC, at least you can cancel it and not be locked in.
3:19 pm
January 12, 2019
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.
Variations of that ⬆️ option/feature are available at most (if not all) FIs.
The 'Trick' is to catch it, before the time runs out. 
- Dean
" Live Long, Healthy ... And Prosper! "
7:25 pm
April 6, 2013
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One will need to check the maturity instructions on the resulting National Bank Non-redeemable GIC's after the migration.
Section 5.6 says the rate and term length of the Motive GIC's will be migrated. Not clear from section 5.7 whether the maturity instructions on the Motive GIC's would be migrated or not:
Your GIC will automatically renew at maturity at the fixed annual interest rate in effect on the day of renewal, and it will be reinvested for the same term. The interest rate will be fixed and calculated annually on the principal amount. The annual interest rate will be determined by multiple factors, including the term of your GIC, the type of interest, the frequency of interest payments and the redemption features of your current GIC.
You may change your instructions on how your investment should be deployed after the GIC matures, so long as you communicate your preferences before maturity. For example, you could direct us to no longer reinvest the GIC and to instead immediately transfer the investment holdings into a Cash Advantage Solution upon maturity.
You may cancel a GIC free of charge within the 10 business days following its renewal date.
8:36 pm
February 15, 2023
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The last two times I talked to a Motive Financial CSR they confirmed that the renewal instructions WOULD be carried forward to the new NBC GICs. With that being said I don't fully trust them.
So yes, it's absolutely necessary to review all transferred GICs carefully to ensure they reflect your renewal instructions.
12:32 am
January 10, 2020
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Norman1 said
scrooge said
Everyone keeps mentioning having a nearby NB branch to close accounts etc.Does anyone know if you can do things over the phone or chat or in the app such as update GIC maturing instructions, close accounts at National Bank?
There are no branches in my city, just the ATM at Circle K....
I have a GIC with Motive maturing end of January and one in April, then I am out of there!
Any Canadian Western Bank branches in your city? Many of them will be migrated over time to National Bank branches.
Like other traditional large banks, National Bank is not set up for branchless digital-only banking.
No but there is one in the next city. Couple of hours to go there and back. There is also a National Bank Wealth Management there but not sure that's for day to day banking. No regular branches there.
I was going to just wait and phone in maturity instructions after the migration, but change of plans now. Guess I will now be calling Motive next week to change instruction early if possible and hope they carry over after the migration.
11:55 am
December 12, 2009
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scrooge said
No but there is one in the next city. Couple of hours to go there and back. There is also a National Bank Wealth Management there but not sure that's for day to day banking. No regular branches there.I was going to just wait and phone in maturity instructions after the migration, but change of plans now. Guess I will now be calling Motive next week to change instruction early if possible and hope they carry over after the migration.
That's a good point. There are some people who signed up for Motive Financial without access to a CWB branch in their city, or even near them. Coverage in Saskatchewan and Manitoba is extremely sparse, for example. Branch coverage in B.C. and Alberta will be limited to cities with populations greater than 75-100,000 people, on average. While National Bank is likely to maintain and rebrand these branches as CWB in the next 12 months, they are unlikely to add branches in a meaningful way, though targeted, organic western expansion as opposed to Ontario expansion for CWB is likely to be the focus of their branch expansion efforts.
Cheers,
Doug
5:44 pm
November 9, 2025
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Hi everyone. Great forum. Extremely disappointed in the loss of Motive, especially to NB that has nothing comparable to offer in any way. Cannot bank with an institution that will not allow links to move funds between institutions. BUT...can the accounts they are setting us up with be linked FROM other banks??? i.e. Can I link NB FROM EQ to yank funds out in excess of the interac limits?? EQ shows NB in their list of links available. I am stuck with them until 2033 when my 10 year GIC matures. Will have a few 6 figure GICs between my wife & I to move out on maturity over the next 2 years. I am supposed to write a check?
Government should not allow sales of FIs without an escape clause so people can actually choose if they want to create a relationship with their new masters. Should be able to cash in any GICs prior to merging without losing accrued interest. Motive will allow cashing of TFSA GICs, but only if conceding interest to date. NB & I am not starting out on a good framework. Haven't PAID for the privilege of having an account anywhere for decades.
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