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Email this4:23 pm
May 20, 2016
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Norman1 said
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.
Thank you for the detailed information. The problem is that there is no online banking enrollment letter in my package. My package includes (1) 5-page "Your Migration Letter" and (2) 80-page "Welcome to National Bank" booklet only.
5:53 pm
April 6, 2013
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Does "Your Migration Letter" mention the enrollment letter being included in the package or will be sent separately later?
9:18 pm
May 20, 2016
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I found the following information on page 5 of my migration letter:
"If you don't already have access to National Bank's online bank, please refer to the Online Banking Enrollment Letter you will receive by mail at a later date......."
Yes, the enrollment letter will be sent separately later.
5:24 am
September 29, 2017
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LarryS said
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...
Maybe what was posted in #117 will address this:
Norman1 said
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.
This will need to be confirmed.
6:21 am
November 19, 2022
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davidgeorge said
I found the following information on page 5 of my migration letter:"If you don't already have access to National Bank's online bank, please refer to the Online Banking Enrollment Letter you will receive by mail at a later date......."
Yes, the enrollment letter will be sent separately later.
Why don’t they just send an email with the link and all information?
Much faster and cheaper.
8:41 am
September 24, 2019
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Norman1 said
Does "Your Migration Letter" mention the enrollment letter being included in the package or will be sent separately later?
I received my "package" yesterday.
"this letter is specific to Motive Financial. Other products with CWB Financial Group will have separate communications and when those products and services will transition."
Migration weekend scheduled for Nov 21 to Nov23 (Wave 3).
Watch for additional communications before Migration Weekend:
Debit Card Letter: If you don't have one you will receive one from National Bank. You will also receive a separate envelope with your PIN. Use this to transact personal banking products.
Your will receive a step by step onboarding guide and a personal code to set up your profile for National Bank's online bank.
If we have your e-mail address, we will send you a reminder via email from National Bank.
Note: If you have a CWB personal banking account(s) that is migrating at the same time as your Motive accounts, you will receive only one National Bank debit card and one Online Banking Enrollment letter.
During Migration Weekend, services will be temporarily unavailable during the migration. Motive Financial online banking will be deactivated as of Friday, Nov 21st at 6pm MT.
9:22 am
September 28, 2023
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If another full mail strike happens near migration time, it will be complete chaos for them to try and get us debit cards, PINs, and login details.
2:37 pm
April 6, 2013
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Canada Post mail strike will be an issue for Motive Financial clients who are not near a branch of Canadian Western Bank or National Bank.
Other migating clients would be able to visit a branch to pick up their National Bank debit card and sign up info.
4:38 pm
September 28, 2023
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Hopefully that doesn't happen as well. The CWB branch in my city is a tiny one (in a strip mall) and the parking for the plaza is frequently jammed. It's why I have hardly used their ATM, instead seeking out other Exchange ones in less congested areas.
Earlier today I signed into my trading account (NBDB) and noticed a new bank account link with institution number 006 (NB) and branch 05561 (Joliette Quebec). So they are busy behind the scenes. Might be a good sign that I can have a single login for everything... though I am going to close out all the banking stuff when my final Motive GICs mature.
1:13 am
May 20, 2016
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I can't reach a CSR, their lines are jammed. I sent them an email with my PAN. I'm willing to bet they will tell me to call as they can't cancel by email. Only God knows how long of a wait there will be now that the West has received these expensive packages where our favorite CUPW employee jammed into our mailbox.
1:18 am
May 20, 2016
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UkrainianDude said
Why don’t they just send an email with the link and all information?
Much faster and cheaper.
Account holders are paying for this and they're banking after 12 months many will either forget or not notice the $30 service fee. The way I see it, it's these folks who don't cancel now are paying for these expensive packages.
1:41 am
May 20, 2016
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savvystacker said
Another perk is that the banking package will also waive the fee for the World Elite credit card. Even if you decide to stay after the 12 months, and you keep $6,000 in the account, you would have a bank account that gives you 2.25% interest and a free premium credit card.
There is no evidence I have found where NB will honour the interest rates from Motive. The package says "Motive rates end when accounts transition. “Applicable rates are available at welcome.nbc.ca/motive-financial/rates” = standard NB rates apply after migration."
3:25 am
April 6, 2013
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Motive clients aren't getting the regular National Bank rates on their CAD Progress accounts after migration. The regular rates are nowhere near the 1% or 2¼% offered initially to the migrated Motive clients:
The CAD Progress AccountTM*
If the balance is Rate (%) 0 $ to $1999,99 0.000 $2,000 to $4,999.99 0.000 $10,000 to $24,999.99 0.010 $25,000 to $59,999.99 0.010 $60,000 to $99,999.99 0.010 $100,000 and + 0.050 *These transaction accounts, flat fee banking packages and financial packages are no longer offered but will remain active for existing holders.
5:18 am
October 22, 2024
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Hmm said
There is no evidence I have found where NB will honour the interest rates from Motive. The package says "Motive rates end when accounts transition. “Applicable rates are available at welcome.nbc.ca/motive-financial/rates” = standard NB rates apply after migration."
On https://welcome.nbc.ca/motive-financial/rates.html, they say "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.", so I assume they will use the four interest rates they then list in the table on the page.
| Motive Financial accounts | National Bank migrated package* | Rate |
|---|---|---|
| Motive Savvy® 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% |
6:53 am
January 10, 2017
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When it comes to banks, "every word counts" and "if something is not explicitly stated", don't assume it.
That NBC web page clearly states: "Here are the current interest rates for your bank accounts:" The word "current" has no bearing as to the interest rate AFTER your Motive account is transitioned to a NBC account.
8:32 am
November 19, 2022
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I only have a few dollars on TFSA savvy and regular savvy. But I have bunch of long terms GICs with motive. I wonder if I close all savvy accounts how can I cash out my GIC at the maturity?
10:26 am
December 12, 2009
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UkrainianDude said
I only have a few dollars on TFSA savvy and regular savvy. But I have bunch of long terms GICs with motive. I wonder if I close all savvy accounts how can I cash out my GIC at the maturity?
I would recommend you first call Motive Financial and update to your maturity instruction on your GIC(s) to "not renew" and to be paid "via cheque or EFT deposit," then provide your external banking information if by EFT deposit.
Once that's done, you can tell them you want to close out your TFSA and regular Savvy Savings Account. They may charge an administrative fee to close your TFSA, but you can just tell them to close it to fees (you won't be on the hook for the balance of the fee normally charged). In this instance, you should actually close out your Savvy Savings account first, then close out the TFSA as the final act.
Cheers,
Doug
11:58 am
September 24, 2019
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When you download the Motive monthly statements, they don't show the maturity instructions for the individual GIC's
All of my GIC acknowledgements have Maturity to renew. Can't remember if there was an option at purchase for funds to go into savings account. Probably not.
I called them for the funds to go into Motive savings at Maturity. They went through each one and "changed" them. When I go on-line to view the GIC's they all now say: Maturity: RNU message. To view it you must go into "more details"
So while you are on line you can print the "account activity page under the "more details." But, if you download that page it will not show the RNU message. You must print it on-line. I doubt they will send out individual amended GIC Acknowledgements.
Hope this isn't too confusing. I just don't trust them on the transition and I have stuff maturing towards the end of Dec 25 and beginning of Jan 26 (these ones TFSAs)
Perhaps all will be well and the transition will go totally smoothly.
1:02 pm
January 12, 2019
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.
Alexandra ⬆️ ... Unfortunately, the maturity.RNU.msg for my Motive GIC shows nothing (it's not a link to the maturity instructions).
How does one access the maturity instructions ?
- Dean
P.S.
Also, in the 'More Details', it shows; "Interest calculated and transferred to Motive GIC 0000#". Which makes no sense to me. 
" Live Long, Healthy ... And Prosper! "
1:05 pm
February 15, 2023
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Alexandra said
When you download the Motive monthly statements, they don't show the maturity instructions for the individual GIC'sAll of my GIC acknowledgements have Maturity to renew. Can't remember if there was an option at purchase for funds to go into savings account. Probably not.
I called them for the funds to go into Motive savings at Maturity. They went through each one and "changed" them. When I go on-line to view the GIC's they all now say: Maturity: RNU message. To view it you must go into "more details"
So while you are on line you can print the "account activity page under the "more details." But, if you download that page it will not show the RNU message. You must print it on-line. I doubt they will send out individual amended GIC Acknowledgements.Hope this isn't too confusing. I just don't trust them on the transition and I have stuff maturing towards the end of Dec 25 and beginning of Jan 26 (these ones TFSAs)
Perhaps all will be well and the transition will go totally smoothly.
We have all of our Motive GICs that have maturity dates in 2026 or later set to "not renew" (yes, that RNU message shows up on each one online, but nothing is sent by mail). Supposedly these non-renewal instructions are to be carried forward to NBC, with the principle and interest deposited into an associated account. However, after migration I will be calling NBC to ensure the instructions did get carried forward...or maybe look online first to see if it's obvious.
Please write your comments in the forum.