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Motive Savvy 2.20%
June 27, 2022
4:41 am
matkokubko
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Motive Savvy 2.20%

July 2, 2022
9:42 am
hwyc
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Motive is the only CDIC member to cross 2% HISA in early June. It's now July, the runner up is still so far behind.

The race in GIC arena is fierced though.

July 2, 2022
11:17 am
Norman1
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There doesn't seem to be much demand for no-commitment HISA money.

TD and CIBC will pay 2% for at least a 30 day commitment through their cashable one-year GIC's. Oaken will do the same for at least a 90 day commitment.

July 2, 2022
11:22 am
HermanH
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If one is willing to commit for 90 days, the Hubert quarterly might be the best option, for 3.10%

July 13, 2022
9:40 pm
piggybank
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My money is currently parked with accelerate financial. But the interest rate with this motive financial is higher at 2.2%. I think I'm going to open up an account with motive financial and transfer my money from accelerate financial.

July 14, 2022
12:42 pm
piggybank
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I applied around midnight last night and I got an email this morning saying that I did not pass the requirements. When I called, The agent did not give any specifics as to why I failed. What a waste of time.

July 15, 2022
8:49 pm
HermanH
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piggybank said
I applied around midnight last night and I got an email this morning saying that I did not pass the requirements. When I called, The agent did not give any specifics as to why I failed. What a waste of time.  

After failure and rejection, I wonder if anyone has ever tried to join the account of a successful applicant. If you can join as a joint signatory, maybe this could smooth a second application process.

July 15, 2022
9:07 pm
piggybank
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I'm the only person I personally know who wants to join motive financial

July 16, 2022
6:47 am
suburbs4life
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I have a motive account. It works fine. I did set up transfers from external banks and not through motive though. I am an ontario resident. Not sure what people are complaining about really.

July 16, 2022
9:44 am
JenE
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I’ve recently opened a joint account at Motive. No problem at all for me but one more piece of information was requested from my husband. Sent it in and account became joint. Excellent telephone service from the rep.

July 16, 2022
11:47 am
rodeworthy
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JenE said
I’ve recently opened a joint account at Motive. No problem at all for me but one more piece of information was requested from my husband. Sent it in and account became joint. Excellent telephone service from the rep.  

Jen, does your online account information indicate it is a joint account? Are you both named on the account? I recently opened an account at Motive. It was initiated as a joint account and all paperwork was signed and faxed which was acceptable to Motive. The account was created as a Motive Savings Account. A phone call got that changed to a Savvy Savings Account and the assurance that the account is joint with my spouse. The account is now a Savvy Savings Account and the original account was cancelled. But I see no indication that the account is joint and I am the only person named on the account.

This is intended as a savings account and not an active banking account. Is there a good reason to maintain a Motive Savings Account in addition to the Savvy Savings Account? Account balances will be within CDIC limits.

July 16, 2022
12:26 pm
HermanH
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The two major differences between Savvy and normal seems to be that Savvy has higher rate and is limited to two transactions / month.

July 16, 2022
12:42 pm
JenE
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HermanH - my Motive account is listed as joint and pays 2.2%.

July 16, 2022
12:55 pm
Loonie
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rodeworthy said

Jen, does your online account information indicate it is a joint account? Are you both named on the account? I recently opened an account at Motive. It was initiated as a joint account and all paperwork was signed and faxed which was acceptable to Motive. The account was created as a Motive Savings Account. A phone call got that changed to a Savvy Savings Account and the assurance that the account is joint with my spouse. The account is now a Savvy Savings Account and the original account was cancelled. But I see no indication that the account is joint and I am the only person named on the account.

This is intended as a savings account and not an active banking account. Is there a good reason to maintain a Motive Savings Account in addition to the Savvy Savings Account? Account balances will be within CDIC limits.  

I don't have a joint account at Motive but i have noticed that at some FIs, the full info is only included on the record of the "primary" account holder - which is annoying. If you are not logging on as primary, perhaps worth trying that route. Either way, try logging in as the other person to see if you can find it.

July 16, 2022
1:16 pm
Norman1
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HermanH said
The two major differences between Savvy and normal seems to be that Savvy has higher rate and is limited to two transactions / month.

It looks like the Motive Savings Account may be grandfathered and new ones are no longer opened.

Savings shows both the Motive Savings Account and the Motive Savvy Savings Account. But, only the Savvy Savings Account has the "Apply now" link.

July 16, 2022
1:33 pm
AR
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HermanH said
The two major differences between Savvy and normal seems to be that Savvy has higher rate and is limited to two transactions / month.  

For the Motive Savvy Savings™ Account "Monthly withdrawals1 included""2 free" https://www.motivefinancial.com/en/about-us/service-fees#Motive-Savvy-Savings%C2%A0Account

Anyone know limit of bill payments for this account and fees?

July 16, 2022
1:50 pm
JohnnyCash
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AR said

For the Motive Savvy Savings™ Account "Monthly withdrawals1 included""2 free" https://www.motivefinancial.com/en/about-us/service-fees#Motive-Savvy-Savings%C2%A0Account

Anyone know limit of bill payments for this account and fees?  

As already mentioned, the account permits 2 free debits per month which includes bill payments. See the link below and the fine print at the bottom of the page.

https://access.motivefinancial.com/AboutUs/ServiceFees/

July 16, 2022
2:00 pm
hwyc
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JenE said
HermanH - my Motive account is listed as joint and pays 2.2%.  

That is odd. We also observed no indication that our Savvy is joint from their online banking interface. However, each of us is assigned his/her own Client Card/Access Number, each with respective password & security profile. The account will show on both logon. Then later, details on the T5 slip also serve as a definitive proof.

Hope this helps.

July 17, 2022
4:48 am
dougjp
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JohnnyCash said

As already mentioned, the account permits 2 free debits per month which includes bill payments. See the link below and the fine print at the bottom of the page.

https://access.motivefinancial.com/AboutUs/ServiceFees/  

A Motive savings account has unlimited free withdrawals, and transfers between Motive accounts (which includes Savvy Savings of course) are free. Potential "fee problem" solved. 🙂

The one thing that unites all human beings is that, deep
down inside, we ALL believe that we are above-average drivers.

July 17, 2022
5:16 am
JohnnyCash
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dougjp said

A Motive savings account has unlimited free withdrawals, and transfers between Motive accounts (which includes Savvy Savings of course) are free. Potential "fee problem" solved. 🙂  

Yes, I have both savings accounts and the ChaChing chequing account as well, which I use to send free e-Transfers. I've associated the Motive Savings account to the debit card for Interac purchases as it has unlimited transactions and pays a little interest too. Their ChaChing chequing account has a nice feature in that it allows for 2 free non-Exchange ATM withdrawals per month as you probably noticed. Having all 3 accounts allows the shuffling of funds to do various types of transactions without paying fees.

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