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Email this7:56 am
January 9, 2011
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Phoned and closed my accounts, having brought them to zero before. I called because I wanted to know how the T5's will be handled. I was assured NB will send them.
Suggest taking screen shots of your savings account(s) using the date range Jan 1, 2025 to now/or whenever, as this will show all interest received (GIC's mature through there), just in case.
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
10:17 am
April 6, 2013
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There will be separate slips:
During your migration period, your tax slips will be issued in two parts. You will receive tax slips from CWB that covers the period before your migration, and a second 2025 tax slip from National Bank that covers the period after your migration. If the amount of interest paid for CWB or National Bank is less than $50.00, no tax slip will be issued. In subsequent years, tax slips will be provided by National Bank.
10:22 am
September 24, 2019
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MG said
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.
What package?
12:22 pm
February 16, 2013
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Alexandra said
What package?
Hi Alexandra,
The package included a large (8.5 x 11) 6 page fold-out pamphlet called Your Migration Letter. Then there was also a large 80 page glossy catalog or book called Welcome to National Bank; Product and Service Migration Guide - Motive Financial. Really surprised by all the printing and mailing costs instead of simply pointing me to a website.
1:00 pm
September 24, 2019
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MG said
Hi Alexandra,
The package included a large (8.5 x 11) 6 page fold-out pamphlet called Your Migration Letter. Then there was also a large 80 page glossy catalog or book called Welcome to National Bank; Product and Service Migration Guide - Motive Financial. Really surprised by all the printing and mailing costs instead of simply pointing me to a website.
Thanks so much. Checked mail today. Haven't received my "package" yet.
1:09 pm
January 12, 2019
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.
. . . Ditto ⬆️ here, as well.
Probably due to the CP Snail Mail, being 'Snailier' than ever. 
- Dean
" Live Long, Healthy ... And Prosper! "
1:58 pm
September 24, 2019
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Dean said
.
. . . Ditto ⬆️ here, as well.Probably due to the CP Snail Mail, being 'Snailier' than ever.
Dean
Funny Dean, I did however receive in mail today my hydro bill, CWB RRIF GIC roll over and RBC GIC coming up maturity notice. All have been taken care of for quite some time. I know, I know .... should be receiving everything electronically!! I am so wasteful.
3:56 pm
January 9, 2011
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MG said
Hi Alexandra,
The package included a large (8.5 x 11) 6 page fold-out pamphlet called Your Migration Letter. Then there was also a large 80 page glossy catalog or book called Welcome to National Bank; Product and Service Migration Guide - Motive Financial. Really surprised by all the printing and mailing costs instead of simply pointing me to a website.
We also received ours today. They will remain unopened but retained somewhere in the basement, in case there is some reason they are needed (unlikely!).
My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.
4:20 am
August 10, 2022
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Received my letter in the mail and called Motive yesterday and closed my account. I was with them for 3 years and they offered good HISA and GIC rates for the first 2 years but since then their rates have been terrible and they only had 1 HISA offer that Tangerine blew out of the water. Wealth One has basically replaced Motive Financial, which previously replaced EQ Bank, for me.
2:45 pm
June 10, 2020
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So, I just called customer service. I'm just not clear on what is coming up (but I haven't read the whole package yet). I have one TFSA GIC maturing in 2027, and a TFSA savings account. I plan on closing all my savings accounts and chequing account.
I'm not sure how to get my TFSA GIC once it matures without paying service fees. I'm fine if I have to take the proceeds from the TFSA GIC out of a TFSA once it matures, but it seems to me that I have to keep a chequing account to get the money out.
I think the CSR told me I could keep registered accounts (like the TFSA) without charges, and then I could initiate an EFT from an external TFSA. Does that sound right?
I'm so confused.
3:07 pm
January 12, 2019
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Alexandra said
Funny Dean, I did however receive in mail today my hydro bill, CWB RRIF GIC roll over and RBC GIC coming up maturity notice. All have been taken care of for quite some time. I know, I know .... should be receiving everything electronically!! I am so wasteful.
Fear Not . . .
It's not too late to mend your Wasteful Ways. 
- Dean
" Live Long, Healthy ... And Prosper! "
3:18 pm
April 6, 2013
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Laertes said
…I think the CSR told me I could keep registered accounts (like the TFSA) without charges, and then I could initiate an EFT from an external TFSA. Does that sound right?
That doesn't sound right. The National Bank TFSA accounts don't look like accounts that can accept a pre-authorized debit from another bank.
CSR likely meant that one can request a direct transfer of the National Bank TFSA GIC funds at maturity to a TFSA at another bank. National Bank will be charging $150 for such transfers starting October 26!
Cheaper to withdraw the TFSA GIC funds at maturity and contribute them the following year into another TFSA. TFSA withdrawals will be free starting October 26.
6:30 pm
February 15, 2023
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"TFSA withdrawals will be free starting October 26". At least something positive, but how exactly though would I withdraw from a NBC TFSA plain savings account (EFT or e-transfer to myself)??? We have yet to receive any mailed documentation from NBC even though myself, my daughter, and my wife have various registered and non-registered accounts with Canadian Western Bank and through Motive. Maybe it has something to do with where we live (Prairies). Also, does anyone on here have any idea (or inside information) on when the physical switch from Motive to NBC will actually occur? Just wondering how much time we really have to move things out of Motive before we get stuck trying to move things out of NBC. Trying to be proactive, but some things may get delayed just because of GICs, etc.
6:37 pm
May 20, 2016
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I received the package today. It's too much information. The only thing I want to know is if I can use my current login id/password to log into National Bank online banking. If not, what should I do? Can anybody help me understand the process? Thank you!
7:45 pm
February 16, 2013
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LarryS said
" Also, does anyone on here have any idea (or inside information) on when the physical switch from Motive to NBC will actually occur? Just wondering how much time we really have to move things out of Motive before we get stuck trying to move things out of NBC.
I received my information package on October 20 and am part of Wave 3. My migration weekend is scheduled for November 21 to 23, 2025.
9:30 pm
February 15, 2023
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MG said
I received my information package on October 20 and am part of Wave 3. My migration weekend is scheduled for November 21 to 23, 2025.
Ah, OK. I didn't realize that the info package contained a personal migration date, thought it was just an info dump. Thanks
10:21 pm
April 6, 2013
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davidgeorge said
I received the package today. It's too much information. The only thing I want to know is if I can use my current login id/password to log into National Bank online banking. If not, what should I do? Can anybody help me understand the process? Thank you!
Section 1.7 of the 80-page migration guide in the package and the two letters mentioned may be what you are looking for:
National Bank’s online bank offers numerous features including the ability to make Interac e‑Transfers®, download specimen (void) cheques and make international payments. You may also make electronic bill payments and cheque deposits via our National Bank app.
Instructions on how to set up your profile are included in your Online Banking Enrollment Letter, as mentioned in your Migration Letter.
7:28 am
October 27, 2020
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If I empty all my Motive accounts (all accounts down to $0), but don't close my Motive accounts, does anyone know whether NBC will still migrate me?
I was leaning towards closing, but maybe I should see what NBC's high-interest savings rate will be during the first year?
11:21 am
February 15, 2023
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Pythagoras said
If I empty all my Motive accounts (all accounts down to $0), but don't close my Motive accounts, does anyone know whether NBC will still migrate me?I was leaning towards closing, but maybe I should see what NBC's high-interest savings rate will be during the first year?
Although I'm no expert I would assume that all active accounts will be migrated independent of the balance - even if the balance is zero. I believe NBCs interim high-interest savings rate will be equitable to that which Motive had for those being migrated from the Savvy Savings account, but only for one year. Sounds good, but you'll also be migrated to one of their bank plans with all kinds of strings attached. Not for me...
12:28 pm
April 6, 2013
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LarryS said
"TFSA withdrawals will be free starting October 26". At least something positive, but how exactly though would I withdraw from a NBC TFSA plain savings account (EFT or e-transfer to myself)??? …
There isn't going to be a National Bank TFSA savings accoount. There is going to be a National Bank TFSA bank holding account that will hold the migated Motive TFSA GIC's and the Cash Advantage Solution for the cash that was in the Motive TFSA saving accounts. See 5.1 Account Structure.
It is not obvious how one would withdraw from a National Bank TFSA bank holding account if one doesn't have a National Bank CAD Progress account or other regular National Bank deposit account to receive the funds. Doesn't look like the TFSA holding account can accept a pre-authorized debit or send an Interac e-transfer.
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