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Email this8:37 am
April 21, 2022
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canadian.100 said
For those who migrated from Motive to NBC, what interest rate are u getting on your NBC HISA now? If I remember, they originally said 2% and then 1.75% but just wondering what it is now that the migration is finished.
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12:19 pm
January 12, 2019
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.
Johnny to the Rescue ⬆️ 
.
That brings to mind another NBoC Disappointment . . .
- In our NBoC online accounts, there's No Mention of the interest being paid on our SAs. It should be there in plain sight ... but Notta❗
.
Yet another example of ... 'Big' Bank / 'Small' Service. 
- Dean
" Live Long, Healthy ... And Prosper! "
10:37 am
September 7, 2018
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I decided to contact NBC to ask what the rates are on my 3 new NBC Progress accounts, since some of us have noted the rates are not displayed on our new accounts.
Here is the response from the NBC Banking Advisor at the Customer Experience
Centre.
"Thank you for reaching out. Following the migration from Motive Financial, your three new accounts at National Bank of Canada have retained the same interest rates that applied to your Motive accounts at the time of migration.
Currently, these accounts are classified under our Progressive Savings product. The applicable interest rates are:
$0 – $4,999.99: 0.000%
$5,000 – $99,999.99: 0.010%
$100,000 and above: 0.050%
If you do not see these rates displayed in your online banking, please note that they are applied automatically. For confirmation or any additional details, you may contact our Customer Service team at 1 888 8356281.
I remain available for any other question or information.
Have a nice day."
I am not impressed by this response!
I wonder if that 1.75% is now gone. Note the advisor's comment above - "If you do not see these rates displayed in your online banking, please note that they are applied automatically."
Applied automatically, really!!
What a poor response in my opinion.
NB
10:42 am
November 15, 2018
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canadian.100 said
I decided to contact NBC to ask what the rates are on my 3 new NBC Progress accounts, since some of us have noted the rates are not displayed on our new accounts.Here is the response from the NBC Banking Advisor at the Customer Experience
Centre.
"Thank you for reaching out. Following the migration from Motive Financial, your three new accounts at National Bank of Canada have retained the same interest rates that applied to your Motive accounts at the time of migration.Currently, these accounts are classified under our Progressive Savings product. The applicable interest rates are:
$0 – $4,999.99: 0.000%
$5,000 – $99,999.99: 0.010%
$100,000 and above: 0.050%
If you do not see these rates displayed in your online banking, please note that they are applied automatically. For confirmation or any additional details, you may contact our Customer Service team at 1 888 8356281.I remain available for any other question or information.
Have a nice day."
I am not impressed by this response!
I wonder if that 1.75% is now gone. Note the advisor's comment above - "If you do not see these rates displayed in your online banking, please note that they are applied automatically."
Applied automatically, really!!
What a poor response in my opinion.NB
If you click the link in post 481 you will see what rates your migrated accounts are getting.
12:18 pm
September 7, 2018
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dommm said
If you click the link in post 481 you will see what rates your migrated accounts are getting.
So far, I have no assurance that I am getting the rates per that post 481.
I expected the NBC response which I received to give me the right information. It is a flaw that the interest rates do not show when you sign in to your new accounts particularly because they are special rates offered to migrating customers. At one point I may go into a Branch and see how knowledgeable they are about this issue. (if they don't know anything about the migration, then they should be able to find out quickly.)
5:25 pm
April 21, 2022
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canadian.100 said
So far, I have no assurance that I am getting the rates per that post 481.
I expected the NBC response which I received to give me the right information. It is a flaw that the interest rates do not show when you sign in to your new accounts particularly because they are special rates offered to migrating customers. At one point I may go into a Branch and see how knowledgeable they are about this issue. (if they don't know anything about the migration, then they should be able to find out quickly.)
I'll be doing my own calculations come the end of each month. I'm very well aware of what they've posted, but the onus is on me to double check the payout. If it checks out okay, then all is well, otherwise it will require a followup.
9:39 am
September 28, 2023
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I have a TFSA GIC maturing on the 25th, and the agent told me that he could change the instructions on the GIC to not renew, but he could only redirect the funds to my TFSA cash balance. I am fine with that because I am able to transfer out of that online by myself. (I really don't want to have to try to phone in on that holiday week, I am sure the hold time will be much longer than the 45mins a couple weeks ago
I can confirm that my TFSA GIC did not renew and instead got redirected to the cash balance as promised. I cannot withdraw it yet as it takes a business day to "settle" in their system (kinda stupid when it's just cash, not trades), but with 3 business days next week, it should be no issue having it out of TFSA status before the ball drops in Times Square.
Merry Christmas to Peter and everyone on the forum 
6:02 pm
November 15, 2018
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JohnnyCash said
Nice! I'll place an order once the migration is complete to see if there's a shipping charge in the order summary.
Just a follow up on my post #256. I really did not have a need for any cheques & was not planning to order any until I was assured after talking with a NB rep that both the cheques & delivery were free for the first 100 cheques so I went ahead via the online form & ordered a book of cheques for myself & my wife did also. After weeks went by (around Dec 10) without receiving any cheques I called to ask when to expect the arrival of the 100 cheques. On this call the rep told me the order had been cancelled (no one reached out to me) because my account did not have the funds available to pay for the delivery. Before migration my wife & I had drained all but a small amount out of our Motive Savey Savings accounts. I told the rep on this call that I had been told earlier by a NB rep that there would be no charge for either the cheques & delivery. Being that the order had been cancelled (so I was told) I just left it at that. To my surprise when I logged into my & my wife's account yesterday there was a charge of $8.12 in both accounts for cheques dated Dec 23. Because I had drained my Motive account before migration my NB Progress account was now in a deficit & my wife's was within pennies of the same. This morning I called NB to explain my complaint & within minutes both accounts had received a credit for $8.12 so happy ending lol.
6:37 pm
April 21, 2022
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dommm said
Just a follow up on my post #256. I really did not have a need for any cheques & was not planning to order any until I was assured after talking with a NB rep that both the cheques & delivery were free for the first 100 cheques so I went ahead via the online form & ordered a book of cheques for myself & my wife did also. After weeks went by (around Dec 10) without receiving any cheques I called to ask when to expect the arrival of the 100 cheques. On this call the rep told me the order had been cancelled (no one reached out to me) because my account did not have the funds available to pay for the delivery. Before migration my wife & I had drained all but a small amount out of our Motive Savey Savings accounts. I told the rep on this call that I had been told earlier by a NB rep that there would be no charge for either the cheques & delivery. Being that the order had been cancelled (so I was told) I just left it at that. To my surprise when I logged into my & my wife's account yesterday there was a charge of $8.12 in both accounts for cheques dated Dec 23. Because I had drained my Motive account before migration my NB Progress account was now in a deficit & my wife's was within pennies of the same. This morning I called NB to explain my complaint & within minutes both accounts had received a credit for $8.12 so happy ending lol.
Hmm, I'd forgotten to test it myself. Thanks for your following up on your experience and sharing. So, can we conclude that we do in fact have to pay for shipping and you were misinformed earlier? Glad things worked out in the end and you'll get the cheques.
6:45 pm
November 15, 2018
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JohnnyCash said
Hmm, I'd forgotten to test it myself. Thanks for your following up on your experience and sharing. So, can we conclude that we do in fact have to pay for shipping and you were misinformed earlier? Glad things worked out in the end and you'll get the cheques.
Yes I would say that is a fair conclusion but having said that I do believe if you ordered cheques & then called to complain about the charge you would have a good chance of getting a credit put back into your account. gl & Happy New Year to all.
9:18 pm
September 28, 2023
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I can confirm that my TFSA GIC did not renew and instead got redirected to the cash balance as promised. I cannot withdraw it yet as it takes a business day to "settle" in their system (kinda stupid when it's just cash, not trades), but with 3 business days next week, it should be no issue having it out of TFSA status before the ball drops in Times Square.
So I waited the business day for it to settle, and made the "withdrawal" from the TFSA cash balance to my Progress account (non-registered). All seemed well, until the confirmation screen said that it could take "up to 3 business days to process your request". The funds show as available right away in my Progress account, yet it still shows up on the TFSA cash balance as well. There is only 2 business days left in the year, so my fingers are crossed.
Not so happy with NB right now, it should be much quicker (and less steps) to make these internal moves. Will be really unhappy if they take the full 3 business days (on top of their dumb "settlement" day), which will place my withdrawal in 2026, which will hamstring that TFSA room for the whole year.
I thought Motive's backend was clunky, but I think NB is even worse. Just reinforces my decision to clear out my GIC's with them as they mature.
[Off topic] To contrast this, I had to square away some TFSA stuff with Hubert this morning, and called in dreading a long hold time during a short holiday week at end of year. They answered in about 4 minutes, she took my request, and by noon everything I wanted them to do showed up through my Access login. I (as many others) dont like to call in for every transaction, but most calls to Hubert have been satisfying and productive for me.
12:01 am
April 21, 2022
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I'm sure you'll let us know how it turned out in the end. I would like to think it will be dated the day the funds arrived in the Progress Account and the TFSA account has a processing lag in updating the transaction date. If the funds were available in the Progress Account and not on hold, that should be a clue. I imagine a phone call would solve the mystery.
8:45 am
September 24, 2019
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Yahoo!!! I'm happy (relieved) to report that my TFSA GIC maturing on 26 Dec 2025, originally from Motive has now been deposited into my CIBC chequing account.
It first went into the, I take it TFSA cash account, then after phoning them they finally transferred the funds with no interest paid after the 26th into CIBC with today's date 30 Dec 26. Now 2 to go maturing on the 2nd Jan 2026.
I have a non-registered GIC maturing on Jan 11th and another in early Feb and the instructions on all of them over the next five years were to go directly into CIBC.
So I'll be waiting on that.
There seems to be no activity info showing transfers in/out of the cash account with NBC. I hate that.
9:03 am
November 16, 2019
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Do you need to set up a chequing account at NB to be able to move money from one account to another ? (i.e. from TFSA to Savings Account as it is end of year!)
Anyone had to do this?
9:45 am
April 21, 2022
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dell15454 said
Do you need to set up a chequing account at NB to be able to move money from one account to another ? (i.e. from TFSA to Savings Account as it is end of year!)
Anyone had to do this?
Did you have a Savvy Savings account that was migrated from Motive Financial? If so, then you have a Progress Account, which functions as both a savings and chequing account.
12:02 pm
November 16, 2019
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JohnnyCash said
Did you have a Savvy Savings account that was migrated from Motive Financial? If so, then you have a Progress Account, which functions as both a savings and chequing account.
Had moved money out of the Savvy Savings account prior to the migration so they did not create an account in NB. So couldn't move the money out of TFSA at year end. My fault. I will have to create a transfer to a new TFSA somewhere else.
I hate this NB 
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