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Email this6:25 am
March 15, 2019
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If the RBC/HSBC merger is a clue, National Bank will have aquired a client list and try to solicit business from that base (all for a fee of course).
10:17 am
January 28, 2015
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It's too bad , i have 2 gic's at over 5% each paid monthly 10 year until 2032 paying me 880.00 a month paid to savvy savings
4:55 pm
October 27, 2020
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So it seems the interest rate on our savings accounts with Motive will drop to align with the interest rate of National Bank upon migration:
https://welcome.nbc.ca/content/dam/cwb/pdf/pdf-product-service-migration-guide-personal-wave2.pdf
"The interest rates on your National Bank savings account may vary from those you had with CWB.
You may find current interest rates and interest‑related information applicable to National Bank personal deposit accounts at nbc.ca/account‑rates."
"Interest accrued on your CWB account prior to migration will be credited to your account post‑migration. Subsequent interest earned during the month following migration will be calculated and paid based on the end‑of‑day balance at National Bank’s regular deposit date."
5:07 pm
April 6, 2013
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Pythagoras said
So it seems the interest rate on our savings accounts with Motive will drop to align with the interest rate of National Bank upon migration:https://welcome.nbc.ca/content/dam/cwb/pdf/pdf-product-service-migration-guide-personal-wave2.pdf
…
That's the migration path for the Canadian Western Bank-branded accounts. There isn't any mention of the Motive-branded accounts, like the Motive Savvy Savings account.
5:12 pm
October 27, 2020
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Norman1 said
Pythagoras said
So it seems the interest rate on our savings accounts with Motive will drop to align with the interest rate of National Bank upon migration:https://welcome.nbc.ca/content/dam/cwb/pdf/pdf-product-service-migration-guide-personal-wave2.pdf
…That's the migration path for the Canadian Western Bank-branded accounts. There isn't any mention of the Motive-branded accounts, like the Motive Savvy Savings account.
Do you think the migration path for Canadian Western Bank-branded accounts will be different from Motive-branded accounts?
5:31 pm
April 6, 2013
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I think there is a possibility for some differences.
Even though all CWB-branded Canadian dollar savings accounts will be migrated to National Bank High Interest Savings accounts, the interest rates won't be the same.
The ones migrated from the CWB Flex Notice accounts will have a 3.25% rate instead of the regular 0.75% rate. Advance notice of withdrawals no longer required.
4:10 pm
April 6, 2013
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National Bank won't be honouring the terms of the floating-rate Canadian Western Bank GIC's and will be migrating them to fixed rate National Bank GIC's:
| CWB | National Bank | Features or Key Differences |
| RRSP Convertible GICs RRIF Convertible GICs |
National Bank Non redeemable GIC |
› The interest rate for this National Bank product is fixed. › The rate for your CWB Convertible GIC applicable immediately before migration will be set as the National Bank fixed rate with a bonus of 0.25%. |
|
Floating Rate Redeemable GICs |
National Bank Redeemable GIC Without Penalty |
› The interest rate for this National Bank product is fixed. › The rate for your CWB Floating Rate Redeemable GIC applicable immediately before migration will be set as the National Bank fixed rate with a bonus of 0.25%. › The minimum withdrawal amount is $500. |
| USD Floating Rate Redeemable GICs |
National Bank Redeemable GIC Without Penalty USD |
› The interest rate for this National Bank product is fixed. › The rate for your USD CWB Floating Rate Redeemable GIC applicable immediately before migration will be set as the National Bank fixed rate with a bonus of 0.25%. › The minimum withdrawal amount is $500 |
1:56 pm
December 12, 2009
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Pythagoras said
Do you think the migration path for Canadian Western Bank-branded accounts will be different from Motive-branded accounts?
No. It's following the same path. Motive Financial is just a brand name and amounts to a branch of Canadian Western Bank (well, technically, it's already a branch of National Bank of Canada, albeit one on a different banking system, as of March 2025). National Bank of Canada has laid out a migration roadmap in "waves," the "waves" of which are segmented by regions of branches. The Edmonton area branches, excluding the Motive Financial virtual branch, have already migrated. Wave two is underway, and wave three will be complete by year end.
Once they have all been migrated, I expect that the Motive Financial branding will cease to exist. Motive chequing accounts will become The TOTAL chequing accounts, with monthly fee waivers for at least 12 months (there's a reasonable possibility National Bank may extend the fee waivers beyond 12 months, as RBC did recently for former HSBC Premier clients). Motive savings accounts will become National Bank HISAs, at the prevailing HISA interest rate at the time.
Cheers,
Doug
7:50 pm
October 27, 2020
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Doug said
Motive savings accounts will become National Bank HISAs, at the prevailing HISA interest rate at the time.Cheers,
Doug
Motive savings accounts will become National Bank HISAs, at the prevailing HISA Motive Financial or HISA National Bank interest rate?
8:05 pm
October 27, 2013
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Pythagoras said
Motive savings accounts will become National Bank HISAs, at the prevailing HISA Motive Financial or HISA National Bank interest rate?
You have to ask? Who bought who?
10:38 pm
April 6, 2013
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National Bank hasn't announced the migration details of the Motive Financial accounts yet.
National Bank didn't mind welcoming former CWB Flex Notice accountholders with a National Bank HISA at 3.25% instead of the regular 0.75% rate.
8:07 pm
December 12, 2009
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Norman1 said
National Bank hasn't announced the migration details of the Motive Financial accounts yet.National Bank didn't mind welcoming former CWB Flex Notice accountholders with a National Bank HISA at 3.25% instead of the regular 0.75% rate.
They don't have to. They released their comprehensive product migration guide. Motive Financial accounts not being listed makes it quite clear they're ending the Motive Financial brand. Moreover, a migration e-mail shared on RedFlagDeals Personal Finance forum indicated that the brand is coming to an end.
National Bank may well offer a promotional interest rate for migrated Motive Financial accounts, as a time-limited offering, though, yeah.
Cheers,
Doug
4:25 am
April 6, 2013
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Doug said
They don't have to. They released their comprehensive product migration guide. Motive Financial accounts not being listed makes it quite clear they're ending the Motive Financial brand.…
No, the Motive-branded accounts are not in the guide because the released migration guide is for the Canadian Western Bank branded products only. Both the Motive and Canadian Western Bank brands are going away.
There will be migration info about the Motive-branded accounts when Wave 3 is closer.
12:31 pm
October 22, 2024
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They released the details about Motive Financial. https://welcome.nbc.ca/motive-financial/guide.html
Some highlights:
- 2.25% interest rate for Savvy Savings account. Less for other types
- 12 months no fee for The Total banking package from National Bank
- ABM Fees are no longer free for out of network
1:25 pm
November 19, 2022
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I have Savvy account and four long term GICs
I also have TFSA savvy and one TFSA GIC
Savvy remains free for 12 months and after that $30 monthly. Nice. Lol
4:43 pm
April 6, 2013
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The Motive accounts will be migrated to National Bank Canadian dollar Progress Accounts with The Total package:
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. Here are the current interest rates for your bank accounts:
Motive Financial accounts National Bank
migrated package*Rate Motive Savy® Savings Account The Total® 2.25% Motive Cha-Ching Chequing® Account The Total® 1.00% Motive Chequing Account The Total® 1.00% Motive Savings Account The Total® 1.00% *Waived monthly fees for a period of at least 12 months after migration.
4:47 pm
September 30, 2017
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Wave 3 ... don't see anything I like here. Don't want a package either 
5:00 am
October 2, 2025
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Norman1 said
The Motive accounts will be migrated to National Bank Canadian dollar Progress Accounts with The Total package: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. Here are the current interest rates for your bank accounts:
Motive Financial accounts National Bank
migrated package*Rate Motive Savy® Savings Account The Total® 2.25% Motive Cha-Ching Chequing® Account The Total® 1.00% Motive Chequing Account The Total® 1.00% Motive Savings Account The Total® 1.00% *Waived monthly fees for a period of at least 12 months after migration.
Is this National Bank migrated package "The Total" a combined chequing/savings account? I see that the Motive Savy Savings Account and the other three Motive accounts are migrated to "The Total" with 2.25% and 1% respectively.
What would be ideal is a no-fee NB HISA at 2.25% and a separate no-fee NB chequing account. It sounds like by grouping the chequing and savings under The Total package, if I want the 2.25% rate, I need to pay $28.95 a month (after the 12 months waiver).
5:20 am
January 9, 2011
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I suppose this could be considered by most as a continuation of a HISA source for 12 months (or longer, should they waive fees), albeit not that competitive anymore (since National got involved 6+ months ago in such decisions?), as Motive's comparative rates changed then for the worse.
Two questions that are not clear to me:
- What rate applies for an existing Motive TFSA savings account? I believe I was getting Savvy savings rates before. It's not personally important because my balance is $ 0.01, but others should know 🙂
- What happens if, as I suspect, most 'online bank savers' don't have a chequing account with Motive to be migrated to this Progress transactional account, but want one (don't know why :D!). I guess they would accept a new application at National under this 'umbrella' Total package, but who knows. Technically, based on their 'Everyday bank accounts' description, if it isn't migrated, the deal isn't applicable.
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
7:13 am
April 21, 2022
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There's nothing compelling in the migration for me to want to stay. It's too easy to find better alternatives, much of which I have already. Like a play on the old ING slogan, ' Move your money! '
Please write your comments in the forum.