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Pythagoras said

Loonie said
Stephen is right. This practice is part and parcel of Meridian/Motus and has nothing to do with size of the FI.

I don't know why they do things this way, but it's a pain.

I am not sure it favours them, because they are equally slow with transfers-in and -out. I suspect they just don't want to put the money and time into upgrading their technology. They are too busy with their expansion plans.
It doesn't make them any safer, just slower to show the transaction. Transfer time plus hold time, together, comes out about the same as other FIs that appear to act faster.  

Those are interesting points. I didn't realize Meridian /Motus were as large as they are.
But still, Simplii, BMO, Desjardins, were hacked. I am sure other banks as well.

All the rules and restrictions Motus has in place actually made me more confident opening an account with them.  

You are free to see it however you wish, but being slow doesn't make them any safer; it just makes them slow.
What they have to do to speed things up is invest in new technology as far as I can see. It might even make them safer.

From the customer point of view, we want to know where our money is at any given time. If I transfer money to Mer/motus, it leaves the previous FI within a day, two at most, but it is in limbo for 2 or to 4 more days because Mer/motus doesn't acknowledge it. If I transfer money to EQ, it shows as a credit right away and starts earning interest even before it arrives. I know which way I prefer.

They can always reverse the transfer later if there is really a problem. Norman1 has in the past given lists of how long they have to do this, and it's quite while.
They are just slow. They aren't doing this to mitigate risk - although they may tell you that because they don't have any good excuses.

Loonie said
Transfers still take forever. Along with parent Meridian, they do not process the request in a timely fashion. This makes it harder to keep track of one's accounts. It often takes four business days for the money to move, with a minimum of three.

Where feasible, you are often better off to use a cheque, especially for a large amount. It still takes just as long to clear, but you start earning interest and it shows up in your account, immediately.  

Maybe Motusbank is changing.
I scheduled an electronic transfer for March 15 from an external bank. On the homepage of my Motus account, it was indicated the transfer was pending.
Today, the 16th, I see the funds are in my Motus account (though on hold).

So for me, the transfer has taken only 24 hours; and I saw the specifics of the transaction what was pending from the moment I initiated the transfer.

I once got some action out of motus by appealing directly to my Meridian branch manager. I was desperate. She knew exactly who to call, so there is definitely communication that is possible between the floors, but the mechanism is top secret!

Few CDIC insured FIs other than Big Banks have free chequing accounts and free cheques. Motus does, and I am keeping it open. I don't use it a lot but I find it useful at times. I am happy for them to take their time processing my cheques!