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Motive rate decrease
November 1, 2024
2:26 am
Benjames35
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Effective Nov. 1 2024, Savings and TFSA 3.20%

November 4, 2024
3:50 pm
dougjp
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Benjames35 said
Effective Nov. 1 2024, Savings and TFSA 3.20%  

That's too bad. They have been very competitive for a long time, and now it's ended. Pulled my savings balance out today.

My memory's not as sharp as it used to be. Also, my memory's not as
sharp as it used to be.

November 4, 2024
5:06 pm
AltaRed
BC Interior
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Why? Within days or a few weeks, 3.2% is most likely going to be a highly competitive rate.

October 7, 2025
2:49 pm
hwyc
GTA
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Effective Oct. 6 2025, Savings and TFSA 2.0%

October 7, 2025
4:22 pm
Dean
Valhalla Mountains, British Columbia
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.
Effective 'Sometime' this Fall, there Won't be any Motive ... At All

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

November 10, 2025
9:32 am
elad
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Motive rates for Savvy Savings and TFSA savings account have been reduced to 1.75%.

November 10, 2025
10:24 am
JohnnyCash
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elad said
Motive rates for Savvy Savings and TFSA savings account have been reduced to 1.75%.  

Their new masters must be pleased. Timely that it occurs prior to the migration starting 10 days from now on the 21st.

November 10, 2025
11:18 am
Pythagoras
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elad said
Motive rates for Savvy Savings and TFSA savings account have been reduced to 1.75%.  

Is it likely that NBC will also decrease the interest rate from 2.0% to 1.75% for Motive Savvy Savings accounts migrating to NBC?

If that's the case, I'm just going to close my Motive account (a little less than 2 weeks before migration).

November 10, 2025
11:57 am
rodeworthy
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Had a Motive GIC mature today. The proceeds were deposited to Savvy Savings account. Could not initiate a transfer out online. Needed to phone in. After about a two-hour wait on hold arrangements were made to transfer the balance of Savvy Savings to a linked account. Took less than 10 minutes to initiate the move. The transaction is supposed to be completed within 2 business days. Aside from the wait time to get connected the process was very efficient. Did not close the SS account. We have two more GICs at Motive - the latest maturity date is May/26.
I hope the transfer of those funds goes as well as this one.

November 10, 2025
4:57 pm
Norman1
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Pythagoras said

Is it likely that NBC will also decrease the interest rate from 2.0% to 1.75% for Motive Savvy Savings accounts migrating to NBC?

If that's the case, I'm just going to close my Motive account (a little less than 2 weeks before migration).

National Bank has updated the initial rates of the CAD Progress Account for the migrated Motive accounts:

Everyday bank accounts

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 Savvy® Savings Account The Total® 1,75%
Motive Cha-Ching Chequing® Account The Total® 0.55%
Motive Chequing Account The Total® 0.55%
Motive Savings Account The Total® 0.55%

*Waived monthly fees for a period of at least 12 months after migration.

November 11, 2025
11:08 am
Pythagoras
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Norman1 said

Pythagoras said

Is it likely that NBC will also decrease the interest rate from 2.0% to 1.75% for Motive Savvy Savings accounts migrating to NBC?

If that's the case, I'm just going to close my Motive account (a little less than 2 weeks before migration).

National Bank has updated the initial rates of the CAD Progress Account for the migrated Motive accounts:

Everyday bank accounts

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 Savvy® Savings Account The Total® 1,75%
Motive Cha-Ching Chequing® Account The Total® 0.55%
Motive Chequing Account The Total® 0.55%
Motive Savings Account The Total® 0.55%

*Waived monthly fees for a period of at least 12 months after migration.

  

Thanks for that!
Calling Motive tomorrow to close my account. Hopefully, I'll be able to reach them.

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