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Email this10:52 am
April 6, 2013
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dougjp said
… (b) how many free EFTs to other banks and how many links allowed for same. Savvy savings was unlimited, and no need for chequing accounts to transfer to first, or cheques.
Doesn't look like automatic funds transfers to accounts at other banks will be available after migration:
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.
…
2:11 pm
January 9, 2011
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Norman1 said
dougjp said
… (b) how many free EFTs to other banks and how many links allowed for same. Savvy savings was unlimited, and no need for chequing accounts to transfer to first, or cheques.Doesn't look like automatic funds transfers to accounts at other banks will be available after migration:
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.
…
Now it's clear, and NOT in a good way. Interac ($ 3k limit each) or wire transfers (with $$ fees) makes saving with them via a HISA unworkable. And cheques from that migrated-to account are equally unworkable as the receiving bank will hold funds + you have to get the cheque to them.
Nothing at all like Motive. Somebody worked hard trying to make the migration package "look" sort of OK, but as the saying goes, "you can't put lipstick on a pig". 😀
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
8:06 pm
September 28, 2023
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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.
That's just gross. Not having external account links basically ends their viability as a savings FI, other than small amounts like an emergency fund or something.
This may be a supreme pain in the butt when my GICs occur after migration. Hopefully they will allow free transfers to my brokerage account (NBDB) so that I can transfer externally from there. Otherwise I will not be a happy camper doing $3k e-transfers day after day (while bumping up against weekly and monthly limits too).
It's like NB wants to take the award from worst migration away from Access CU (when they absorbed Sunova's awesome Hubert).
12:53 am
September 29, 2017
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everhopeful said
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.
That's just gross. Not having external account links basically ends their viability as a savings FI, other than small amounts like an emergency fund or something.
This may be a supreme pain in the butt when my GICs occur after migration. Hopefully they will allow free transfers to my brokerage account (NBDB) so that I can transfer externally from there. Otherwise I will not be a happy camper doing $3k e-transfers day after day (while bumping up against weekly and monthly limits too).
It's like NB wants to take the award from worst migration away from Access CU (when they absorbed Sunova's awesome Hubert).
The title of this section does not match the content... the title states transfers BETWEEN NB clients but the content includes transfers between banks for the SAME client. Very poor presentation.
Has anyone inquired about this? How are clients supposed to get money out, or in for that matter, other than e-Transfers or wire?
4:27 am
June 10, 2020
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savemoresaveoften said
I have not received confirmation that my accounts are being transferred over yet, so I will just wait while 1 GIC won't mature until 2027... hmmm
I logged on just to say this, too. Has anyone gotten communication that they are being transferred? I have only one TFSA GIC that matures in 2027. I'm trying to figure out if it's worth keeping money in my other accounts until the GIC matures. Right now, I'm starting to clear out my accounts, though.
10:44 am
January 12, 2019
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.
No confirmation here yet, either.
I'm stuck with one last Motive GIC that doesn't mature until June '26.
After that ... I'm Gone-Zo‼️
- Dean
P.S.
All my other Motive accounts have long-since been Cleared Out ... as I can get Much Better rates, Elsewhere (both now, and with NBoC).
" Live Long, Healthy ... And Prosper! "
11:24 am
April 6, 2013
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smayer97 said
… How are clients supposed to get money out, or in for that matter, other than e-Transfers or wire?
The National Bank CAD Progress Account is a traditional interest-paying chequing account with branch access.
One can order cheques for it and write cheques on the account. One can go to a National Bank branch or ATM and do deposits and withdrawals. One can link to the account at a digital-only bank to send money in or pull money out.
12:09 pm
February 15, 2023
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I've been going back and forth with a local client service rep from Canadian Western Bank asking him lots of questions (and he has been very helpful). They are just starting their training on the new systems so maybe we can read into that that the migration is still a bit of time away. Exactly how long, who knows.
12:14 pm
September 24, 2019
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This entire ordeal is going to be so much fun.
My rep at CWB downtown says he is going to be with National Bank. So hopefully I'll have him at least to discuss everything with.
I have 3 TFSA GIC's with Motive one maturing end of 2025 and 2 Jan 2026. I have a total of 11 Non-Reg GIC's with Motive maturing between 2026 and 2030 albeit 6 of them are maturing in 2026.
Then I have almost 50% of my RRIF's with CWB combined in 2 GICs and then finally one non Reg GIC with CWT maturing in 2026. 
1:29 pm
January 12, 2019
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.
Alexandra ⬆️ . . .
May 'The Force' Be With You❗ 
.
- Dean
" Live Long, Healthy ... And Prosper! "
2:50 pm
October 17, 2025
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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.
Not being able to transfer funds via the Transfer Function to an account I hold at another FI is the reason why I am not migrating to National Bank.
10:22 pm
September 29, 2017
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Norman1 said
smayer97 said
… How are clients supposed to get money out, or in for that matter, other than e-Transfers or wire?
... One can link to the account at a digital-only bank to send money in or pull money out.
Of course, they are a "traditional" bank. That should have been obvious, so obvious I missed it. I was still stuck in thinking from a digital-only bank. Thanks!
9:09 am
September 28, 2023
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All my free cash has already been moved from Motive... since approval their rates are lousy.
My TFSA cash I am leaving until migration is near (hopefully we get a couple weeks notice) or late December, whichever comes first. I will withdraw before it moves to NB.
My GICs are stuck with them until maturity (correct?)... I fear it will be a pain to redeem in the future.
10:39 am
January 12, 2019
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Andrew1387 said
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.Not being able to transfer funds via the Transfer Function to an account I hold at another FI is the reason why I am not migrating to National Bank.
Some of us here will be temporarily Trapped at the NBoC, because our Motive GICs won't mature until After the Migration is complete.
I've got my Fingers Crossed that EFT Pulls from the other FIs I deal with will work, once my Motive GIC has matured and funds transferred to my NBoC SA.
Time will tell 
- Dean
" Live Long, Healthy ... And Prosper! "
12:43 pm
October 17, 2025
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I think if you are looking for a virtual bank in place of Motive Financial - try Manulife Bank - their Advantage Account works exactly like Motive's Savvy Savings Account with the only stipulation being that you must keep $1000 in it each month to avoid service charges and right now they are offering 4.75% for the first 4 months.
1:11 pm
April 6, 2013
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The $1,000 minimum makes ATM withdrawals, Interac debit card purchases, bill payments, and Interac e-Transfers free.
Cheques written on the account, transferring funds to an external account, and pre-authorized debits are free with the Manulife Bank Advantage account regardless of balance.
8:10 pm
April 6, 2013
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Dean said
I've got my Fingers Crossed that EFT Pulls from the other FIs I deal with will work, once my Motive GIC has matured and funds transferred to my NBoC SA.
…
Links to Motive accounts will be directed to the corresponding new National Bank CAD Progress account for a year:
3.5 Direct Deposits and Pre‑Authorized Debits
Direct deposits and pre‑authorized debits in your Motive Financial account will be redirected and processed in your migrated National Bank accounts for a maximum period of 12 months. Please ensure that you update your account information with vendors by the end of this 12‑month period.
4:11 pm
June 10, 2020
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Hey y'all.
My package just arrived in the mail. I didn't realize they are doing things by snail mail. It's a pretty big envelope!
6:22 pm
February 16, 2013
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Laertes said
My package just arrived in the mail. I didn't realize they are doing things by snail mail. It's a pretty big envelope!
Same here, received today. One for me and one for my spouse. We are in Ontario, so part of the third and last wave of conversions. I called to close out my almost empty accounts last week.
4:16 am
October 21, 2025
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Laertes said
Hey y'all.My package just arrived in the mail. I didn't realize they are doing things by snail mail. It's a pretty big envelope!
Recd mine yesterday as well. Called and divorced.
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