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Motive Snafu
April 18, 2017
10:17 am
rhvic
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Hope Motive Financial plans to operate with greater control than how they send out their emails.

Got an email this morning saying the new web site was up and running. "Our brand new website is now live at http://www.motivefinancial.com."

Then got another email a couple hours or so later saying "Earlier today we sent out an e-mail informing you that motivefinancial.com was live. Perhaps it was just the excitement of the day, but we sent that out prematurely. Our most humble apologies."

Not a great way to start under a new name.

Motive will have another major issue to address - their interest rates just are not competitive. There is no motive to keep money there.

April 18, 2017
1:32 pm
AltaRed
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They are up and running now. Nothing different from what I can see.

April 18, 2017
2:12 pm
rhvic
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Yes, four hours later they sent out this message:
"OK, here we go! motivefinancial.com is now officially live! Thank you for bearing with us this morning. Now that we’ve gotten those first hiccups out of the way, we’re looking forward to serving you better and rewarding you more with Motive."

So that is out of the way - now they should raise the interest rates if they'd like to keep their customers.

April 18, 2017
2:21 pm
AltaRed
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I think they will keep the bulk of their customers. The association with CWB will likely help offset ~20bp lower rates than obtainable elsewhere, but potentially with more convenience. MF has a pretty complete offering. YMMV

April 18, 2017
2:24 pm
rhvic
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AltaRed said
I think they will keep the bulk of their customers. The association with CWB will likely help offset ~20bp lower rates than obtainable elsewhere, but potentially with more convenience. MF has a pretty complete offering. YMMV  

Oh, I will not be closing my MF account (yet), but I have already reduced holdings there to a minimum. I can do better at Ideal (2.5% till end of the year), and Tangerine (at 3.21% till the end of June). If they raise their rates, I'll move some funds back in.

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