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Outlook Financial fees
October 18, 2022
2:14 pm
Forum Posts: 4
Member Since:
April 27, 2020
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I just pulled a copy of the account fees now that Outlook Financial took over Implicity.
Seeing these I think I'll look into moving my savings to new on line bank, Implicity was no fee.


October 20, 2022
5:52 pm
British Columbia, Canada
Forum Posts: 4249
Member Since:
December 12, 2009
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Yeah, there were some changes to the fees as the Implicity HISA was merged with the Outlook Financial HISA. Outlook Financial never used to offer unlimited, free Me-to-Me Transfers, but one thing they did add with the merger with the Implicity HISA is allow unlimited, sporadic/ad hoc Me-to-Me Transfers. Scheduled Me-to-Me Transfers are still subject to the 1 free debit per month limitation. As well, pre-authorized debits are no longer unlimited, but you still can use them up to 1 time per month for free.

For me, it's okay, but you just won't want to use it as a "hub" account. Just use it for parking savings, and you'd be fine with 1 free debit per month. As well, they do offer free cheque orders, which Implicity didn't have.

Achieva is slightly better, though, as they will rebate you $1.00 for signing up for e-Statements, so you can effectively have two free debits per month, one of which would incur a $1.00 fee but be offset by the $1.00 e-Statement monthly incentive/rebate. Of course, Achieva does not have the free, sporadic Me-to-Me Transfers, but do have free cheque orders.


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