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Motive targeted 4 month 5.75% GIC
September 7, 2023
5:32 pm
LK
British Columbia, Canada
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Sent by email, apparently on a targeted basis?

Earn more at ⚡ speed with our 5.75%* 120-day GIC Special
Cash sitting idle at another Canadian financial institution? Move it to a 120-Day Motive GIC, then sit back and watch it grow! Give us a call by Oct. 31 – this limited time offer is only available by phone.

Earn at 5.75%* with 3 simple steps:

Open a Motive Savvy Savings or Cha-ching Chequing account online (if you don’t already have one). There’s no set-up or monthly fee.

Transfer funds into your Motive account from another Canadian financial institution.**

Call 1-877-441-2249 to purchase your GIC.

*Limited time offer for 120-day non-redeemable personal Canadian dollar denominated GIC only, available until October 31, 2023, to a maximum $1,000,000. Offer is open to new Motive clients, existing clients transferring funds to Motive from another financial institution; or buy a GIC with new money. New money is defined as funds not held on deposits with motive financial prior to July 17 2023. All rates are calculated on a per annum basis (compounded annually and paid at maturity), and subject to change without notice.

**See How do I fund my account? in the FAQs section of http://www.motivefinancial.com.....20-day-gic for more details.

September 7, 2023
7:04 pm
Dean
Valhalla Mountains, British Columbia
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.
That's been covered here , starting with Post #24 on Sept. 6th.

Join in sf-smile

    Dean

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

September 8, 2023
7:15 am
LK
British Columbia, Canada
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Thanks, Dean. Interest rate increased, yes. But date also extended to Oct 31. I wasn't sure if this might be a new promo, rather than an updated promo.

Dean said
.
That's been covered here , starting with Post #24 on Sept. 6th.

Join in sf-smile

    Dean

  

September 9, 2023
1:34 pm
Bill
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It's not targeted, available for all new money.
https://www.motivefinancial.com/en/120-day-gic

GICs promos on here not showing this one yet.

September 9, 2023
1:47 pm
kesa
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Bill said
It's not targeted, available for all new money.
https://www.motivefinancial.com/en/120-day-gic

GICs promos on here not showing this one yet.  

"New Motive clients will be required to open a demand account to buy an Eligible 120D GIC. There will be no costs or fees charged to you in connection with the opening of the demand account. The purpose of the demand account is to allow us to assess the possible risks (traceability etc.) associated with the transfer of funds, to manage the risk associated with the Eligible 120D GIC and for the administration of the Eligible 120D GIC.”

What’s this really for?

September 9, 2023
2:02 pm
Bill
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I don't know, as step 1 website just says you have to open a savings or chequing account if you don't already have one: "Open a Motive Savvy Savings or Cha-ching Chequing account..........." I guess to move the new money in to them.

September 12, 2023
10:00 am
LK
British Columbia, Canada
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I got a call from Motive re a 4-month GIC that I set up in Sept for the promo rate of 5.40%. They said that they need to set up the GIC for me over phone, else I would get the usual GIC rate. Because I had set it up myself, they said they would adjust it for me and back date it.

So, heads up, if you have set up the GIC yourself for either the 5.4 or the 5.75% promo, then call them to alert them so that you get the promo rate. Early morning seems to work well to get through in under 10 mins. Else, a long wait or request a call back (which can take 2 business days).

On the same call, I asked them to not 'auto renew' and payout to Savvy Savings. Motive will auto-renew unless you ask them not to.

Yes, a bit of work to phone and address these things. I don't mind though, of course, would prefer to be able to do all of this online.

Please write your comments in the forum.