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Transferring 15k from CIBC to Motive Financial
August 13, 2019
11:46 am
Forum Posts: 2
Member Since:
August 13, 2019
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Are you able to sign up for motive without a utility bill? I rent

I understand the best thing to do is to setup a savvy savings account and a cha ching chequing account.

I understand interac has a 3k limit each time for 24 hours? But doesn't Motive Financial have a monthly limit of 2 transactions?

August 13, 2019
5:41 pm
British Columbia, Canada
Forum Posts: 4179
Member Since:
December 12, 2009
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Not sure what you're asking, but typically, Motive Financial uses a two-part verification to identify you and approve your application:

(1) Credit bureau ("soft," or non-credit-related) inquiry; and,

(2) either of:

(a) an Interac e-Transfer from yourself from your existing Canadian bank account, or,
(b) an initial cheque for deposit payable to yourself.

To link additional external accounts, you can either supply additional VOID cheques, bank or credit union e-Statements, or some other method acceptable to them.

Note also that for the credit bureau check, you need to pass authentication, which requires no fraud prevention blocks or alerts on your credit report and your address must match the address provided on your credit report.

If you're asking if you can make bill payments, yes. From the Savings Account, Cha-Ching Chequing Account, and Chequing Account, they are free and unlimited. From Savvy Savings Account, there are five (5) free debit transactions permitted. Overlimit chargeable at posted fee schedule.

A helpful tip: Try and expand a bit more on your initial question so it's clear exactly what you're asking. Brevity is good, but brevity + clarity is awesome. sf-cool

Welcome to the forum, though!


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