National Bank Investment Account for the migrated GIC's | Motive Financial | Discussion forum

The Motive GIC's will be migrated to National Bank GIC's that will be held in a National Bank Investment Account (also known as personal bank holding accounts).

A Motive client posted the following about the National Bank Investment Accounts on the Financial Wisdom Forum site:

Posted by taxes4U » 23 Oct 2025 11:47

Hello. I'm new to the forum and as another soon to be Motive refugee I thought I would post what I found out about holding GICs at NBC after talking to an investment rep at an NBC branch and a different rep via the standard NBC phone number (select investments at the voice prompt to get the right rep).

… But at NBC, and I assume the other big banks, you can only hold a GIC in a banking side investment account. That is where the Motive/CWB GICs will reside at NBC. Online you can only view your NBC GIC holdings. Any changes or administration must be done at a branch or over the phone. But, you don't need any type of NBC bank account. While none of the big banks allow push-pull account linking to external banks from their bank account products, NBC included, you can get a non-NBC account linked to the investment account. At a bank branch or via snail mail (I forgot to ask about a fax or email option), you give them a letter of instruction along with a void cheque asking them to deposit all GIC interest and/or maturity to cash payments from your stated investment account to the particular external bank account. They will link the account and send your money there. You can then wind down and ditch any NBC banks accounts if you have no use for them.

I have monthly pay GICs going forward for several years. My goal is to get all my money out of NBC. But, the linked account can also be used in reverse to buy a GIC, again at a branch or over the phone. …

…. If you are using snail mail to request the link make sure you get the right mailing address and verify the type of acceptable void cheque (paper cheque and/or printed from your bank login account). …

Post by taxes4U » 24 Oct 2025 08:46

I called NBC again yesterday to see if it was possible to confirm or set up anything GIC related prior to migration. The rep said no. They can't do anything until the GICs are transfered and the GIC investment account is opened and active. He did say that there is also an online account option to upload a void cheque to the investment account, but that you may have to call in and have that enabled.

And, he said they also accept the standard void cheque you can print or save to PDF at any bank. For example, if you have an account at EQ Bank paying the higher payroll deposit rate you could have your GIC interest and cash maturities linked there for a better rate than what NBC offers. …