Motive Financial | Motive Financial | Discussion forum

Been using them for my D2D banking since 2013...after joining this forum I believe. I use their old checking account, not the new Cha-ching as I don't need/use Interac or non-exchange ATMs. I like the Me2me transfers, CSR's are friendly, knowledgeable, and local. They have gone above and beyond to accommodate my requests. Signed up for their 3K overdraft protection to cover my own stupid mistakes. Web site is above average...better than most but not as good as it could be. Setting up bill payments and transfers is simple. Pushing funds is weird but works well. Linking FI's is done with micro deposits. I'm mostly happy with them. On the down side...their rates are more volatile than most. Savings account rates don't seem to move much, and are currently leading with their Savvy Savings, but GIC rates seem to change by the week, bouncing from top of the pack to middle-lower depending on phases of the moon nearest I can figure. Their RSP savings account gives terrible interest and only on Dec 31. I REALLY hate that and is the main reason I moved my funds to Hubert to collect interest until it's time to buy more GICs. Finally, no RIFs. They keep saying they are coming but it's been 6 years now and still no sign. Given up hope on them ever offering RIFs. I asked what happens when I HAVE to put funds in a RIF and they said they would transfer them to Canadian Western Bank. There were a few web issues when they changed from CDF to Motive, but they seem to have gotten over them. If I was filling out a survey, I'd check the "Would you recommend Motive to others?" yes box. They are a good choice as a hub for all my transactions. Even happier now that their TFSA and HISA rates went up.
Good Luck!

Canadianbull said

I found something really strange today.....I sent e-mail to payroll department at work to change my direct deposit information. This is what I received from them....

"We don’t have the capability to set up the “Motive Financial” Bank
It doesn’t exist in our options"

That's good: Your payroll department is doing a check on the direct deposit information.

There's no actual bank, credit union, or trust company called "Motive Financial". That's because "Motive Financial" is just a marketing name or trademark used by a department or division in Canadian Western Bank.

If your direct deposit info is to Branch 03909 of Institution 030, you can let payroll know that it is to this Canadian Direct Financial branch of Canadian Western Bank, listed in Payment Canada's Financial Institutions Branch Directory:

Canadianbull said

I talked to payroll again today. As mentioned above they accepted account information under CWB.

That's good to hear!

Looks like CWB forgot to update the info for their branch 03909 in the Payments Canada Financial Institutions File (FIF) when they rebranded their "Canadian Direct Financial" offerings as "Motive Financial".