December 26, 2017
Here's some previous discussion around this topic: https://www.highinterestsavings.ca/forum/motusbank/motus-bank-available-in-quebec/
My understanding was that they couldn't solicit Quebec customers, but that a Quebec resident could technically still open a chequing or savings account. Perhaps that has changed?
April 9, 2013
You're probably right about that & I suspect that some of the less sophisticated FI's, more specifically CU's, either can't or don't make that distinction, therefore, don't train their frontline staff to adequately answer such queries - which I believe was also the case with Tandia CU, under another heading. They told me rather unconvincingly that their services were NOT available outside Ontario, but as I stated in the other post, I prefer to not engage with an FI that is unfamiliar with their own affairs.
April 6, 2013
Some provinces take a dim view of a CU from another province accepting deposits from their residents without being registered in the province to do so. In 2010, provincial regulators in Saskatchewan and Nova Scotia issued cease-and-desist orders against Sunova CU in Manitoba for accepting deposits from Saskatchewan and Nova Scotia residents through its Hubert Financial banner.
I remember from the early days of PC Financial that Quebec residents had to visit a pavilion outside of Quebec province to open an account.
It looked like PC Financial could continue to serve clients who moved to Quebec. But, people could not become a client while in Quebec.
March 15, 2019
December 29, 2018
February 4, 2022
I just applied for a Motusbank no-fee chequing account today (Feb. 4, 2022) and received an auto-reject message. I called them right after and apparently they no longer accept applications from Quebec, they do not take applications from the phone (only online) and they do not know when Quebec applicants will be able to ever apply again.
But back in April 2019, they answered to one of my tweets on Twitter that they accepted Quebec applications for deposit accounts (chequing, savings, investments). I should have tried opening an account back then!
December 29, 2018
November 8, 2021