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TFSA account missing
July 13, 2019
3:19 pm
kawitan23
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My Motive TFSA account is missing when I tried to access it online today. My TFSA has a healthy couple of thousands in Canadian dollars. not a zero dollar account. Mind you, last 2017, I never touched it and Motive never touched it too. On 2018, I did a few withdrawals. Seems normal. On January 2019, I checked it out and everything is fine. Today at July 2019, my TFSA account is missing. Based on the statement, I received on 2018. Last access to account was a withdrawal on March 2018. So yeah. If no access for more than a year, the account will be deactivated by Motive? But why in 2017, I never touched it and its still there. Anyway, I called their customer support and its closed (Today is Saturday) only is open on Mon-Fri and their 24hour tech support hotline (7day) said to me they can't access my account and I have to call the customer service which has access to my account not them. So Monday, I will call them back.

July 13, 2019
3:35 pm
Loonie
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Hopefully this is just a technical glitch. Maybe sign in again later and see if your TFSA has reappeared?
There is no reason to close a TFSA with money in it without authorization as it screws up your records with CRA. The only possible reasons I can think of are fraud, hacking or possibly an overcontribution that CRA somehow caught up with.

July 15, 2019
7:47 am
kawitan23
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TLDR: Ok, problem solved. TFSA account showed up after calling Motive to fix.

LONG STORY: So I called em, like 745am MT. To be the first customer then the phone says, "no agents available right now." Machine recording says, I have to call and leave a message and they'll contact me. I'm like what. WTF. This is not getting any better. I was thinking what could be the problem again. I remember that 50,000 hacked customers account last year at CIBC/simplii and I'm like no way Motive is hacked too. No news about it right? I have simplii accounts (as my daily life/payroll account) too and so I actually check my simplii acount daily because of it but no problem with it so far. But damn me, if that happens and motive and I'm screwed? But I calmed down, logged in again to check my account. Yeah, all accounts are there except the TFSA account so I can't access it. So after a few minutes browsing the web, checking this or that. I called again and finally I was able to talk to a human being on the phone and told my problem. She (Miss "J") told me I was using an old "login credential" that's why the account is missing on display. Don't worry she says. "It's there." So she set it up after asking verification questions. Asked if I was on a computer right now (not mobile phone or tablet device) and yes I am on a legit PCmastersrace PC so yeah LOL. So I re-logged in as per instruction, changed my access code and got inside to my accounts and the TFSA is there. I need to buy a used car that why the need to access my TFSA account for withdrawals and yeah it's there already.sf-cool

July 15, 2019
3:35 pm
Loonie
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It's good that you got it resolved. I'm surprised they didn't send you a notice about this change rather than let you get upset about it over a weekend.

July 16, 2019
2:08 pm
kawitan23
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@Loonie, yeah. kinda sucks but it is what it is. I don't know if this is also an issue but just playing around with interac-transfers just for "comparative study." Since I also have an account with Simplii.

Simplii financial vs Motive Financial
======================
So I logged in at Motive financial, made an interac e-transfer ($60) to my email.
Then I logged in at Simplii financial, made and interac e-transfer ($80) to my email.

It took less than 10 seconds for Simplii financial to give notice on my email of the transfer. Meanwhile, the Motive Financial took a whopping 23 long wait minutes before it comes to my email. There was even a point where I am thinking, what is up with motive financial. Plus the fact that interac transfers at simplii financial is $0 (free) while Motive financial charges $1.00. Hmnn....

I don't know but it seems Motive is not doing well anymore. I mean, they still have great rates but I think this is time to think about me just staying with coast capital (a brick and mortar bank) and simplii.

July 17, 2019
12:09 am
Canadianbull
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kawitan23 said
@Loonie, yeah. kinda sucks but it is what it is. I don't know if this is also an issue but just playing around with interac-transfers just for "comparative study." Since I also have an account with Simplii.

Simplii financial vs Motive Financial
======================
So I logged in at Motive financial, made an interac e-transfer ($60) to my email.
Then I logged in at Simplii financial, made and interac e-transfer ($80) to my email.

It took less than 10 seconds for Simplii financial to give notice on my email of the transfer. Meanwhile, the Motive Financial took a whopping 23 long wait minutes before it comes to my email. There was even a point where I am thinking, what is up with motive financial. Plus the fact that interac transfers at simplii financial is $0 (free) while Motive financial charges $1.00. Hmnn....

I don't know but it seems Motive is not doing well anymore. I mean, they still have great rates but I think this is time to think about me just staying with coast capital (a brick and mortar bank) and simplii.  

Are you sure about Motive $1 fee on Interac e-Transfer?

July 17, 2019
10:50 am
Dean
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Canadianbull said

Are you sure about Motive $1 fee on Interac e-Transfer?  

It's down at the very bottom of their 'Service Fees' page -

Link: https://www.motivefinancial.com/AboutUs/ServiceFees/

sf-cool " Live Long And Prosper " sf-cool

July 17, 2019
10:55 am
file
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It depends on the account type. Transfer to a Cha-Ching Chequing and it's free to send an Interac e-Transfer from there.

July 17, 2019
5:10 pm
Canadianbull
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I have been sending money and it's free.

July 20, 2019
2:14 pm
kawitan23
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Oh I'm 100% percent sure they do charge as I was charged $1. Maybe follow "file"/bull advice though as it seems that's the way to do it. As my interac e transfer was from my savings account (not checking).

July 20, 2019
4:04 pm
Doug
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kawitan23 said
Oh I'm 100% percent sure they do charge as I was charged $1. Maybe follow "file"/bull advice though as it seems that's the way to do it. As my interac e transfer was from my savings account (not checking).  

It depends which account you do the Interac e-Transfer out of. The Savvy Savings Account only permits so many free debit transactions and likely charges to send Interac e-Transfers, due to it paying a higher rate. Also, the Motive Chequing account does not include e-Transfers because Motive Financial, a year after they rebranded in 2017, launched the Cha-Ching Chequing account, which provided for e-Transfers. The downside of Cha-Ching Chequing, though, is it pays a lower interest rate on your chequing account balance. Likewise, the Motive Savings account, which pays 1.50%, includes free and unlimited debit transactions, but not e-Transfers, while the Savvy Savings only permits 5 free debit transactions, also no e-Transfers.

So, you have to be savvy with your Savvy Savings account. 😉

Cheers,
Doug

May 30, 2020
6:58 am
dwdrajesh
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Hi @kawitan23, I am having a similar issue with Tangerine but mine is a bit serious. I have a savings and a TFSA with them but I cannot even login using my client card number. When I talked to the agent on the phone, they couldn't find out my account number based on the client number, SIN, my contact number. Really scared now. What should I do next? I posted a query here:
https://www.highinterestsavings.ca/forum/tangerine-bank/tangerine-account-disappeared/

May 30, 2020
2:18 pm
Alexandra
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dwdrajesh said
Hi @kawitan23, I am having a similar issue with Tangerine but mine is a bit serious. I have a savings and a TFSA with them but I cannot even login using my client card number. When I talked to the agent on the phone, they couldn't find out my account number based on the client number, SIN, my contact number. Really scared now. What should I do next? I posted a query here:
https://www.highinterestsavings.ca/forum/tangerine-bank/tangerine-account-disappeared/  

Do you have a paper or saved copy of your statement with Tangerine? It will list your client # and all your account numbers.

May 30, 2020
4:12 pm
dwdrajesh
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Alexandra said

Do you have a paper or saved copy of your statement with Tangerine? It will list your client # and all your account numbers.  

Hi @Alexandra, I have a savings account and a TFSA both opened just this April. I checked the paper documents I have and I see I only have a mail from Tangerine saying that my savings account with the client number was opened. It does not mention anything about the TFSA since that was only online. When I called them, they even doubted that I was a legitimate owner of any account with them since they couldn't find anything under my name, SIN, phone number and address. How could something like this be completely wiped off their system??? Really scared that they might say I never opened a TFSA account with them since my TFSA has a significant deposit and my savings account doesn't have much.

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