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Email this6:25 pm
December 9, 2025
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Hi, all. Long-time reader, first-time forum participator. With the demise of the Motive’s high-interest savings account,
I thought I’d try PC financial for my emergency fund. Approved, linked account, and got my card. When I next logged in, my access was suspended. After 90 minutes (!) on hold, I was told that there was a problem with my Equifax check and my account was closed.
Equifax has me at an 854. Sure, there was a little out of date info on the report, but the SIN was right and the score was high. Quite a justification for denying me an account.
7:08 pm
March 15, 2019
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assiniboia said
Hi, all. Long-time reader, first-time forum participator. With the demise of the Motive’s high-interest savings account,
I thought I’d try PC financial for my emergency fund. Approved, linked account, and got my card. When I next logged in, my access was suspended. After 90 minutes (!) on hold, I was told that there was a problem with my Equifax check and my account was closed.Equifax has me at an 854. Sure, there was a little out of date info on the report, but the SIN was right and the score was high. Quite a justification for denying me an account.
854 is an an excellent score. Maybe there is something else in your background that caused the problem.
7:18 pm
December 9, 2025
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Thanks. It just freaked me out. The report didn’t have my most recent cell phone number, for example, but a couple of inconsistencies shouldn’t disqualify if the SIN and the score line up. It wasn’t even for a credit card: just the cash account to manage my own money. I wasn’t impressed with the PC Financial signup experience, and it will likely be absorbed into EQ within the year, but a bit embarrassing to be tripped up by so low a bar.
7:27 pm
April 21, 2022
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assiniboia said
Hi, all. Long-time reader, first-time forum participator. With the demise of the Motive’s high-interest savings account,
I thought I’d try PC financial for my emergency fund. Approved, linked account, and got my card. When I next logged in, my access was suspended. After 90 minutes (!) on hold, I was told that there was a problem with my Equifax check and my account was closed.Equifax has me at an 854. Sure, there was a little out of date info on the report, but the SIN was right and the score was high. Quite a justification for denying me an account.
It has nothing to do with your score. It's all about matching what you entered on your application and what was on your Equifax file. Any mismatch and that's reason enough for denial. Request a copy of your Equifax file and update it if need be. Online banks have never met their clients in person. Therefore they are required to KYC and follow AML regulations.
8:00 pm
December 9, 2025
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This is very helpful. I have had accounts with Alterna, EQ, Motive, Oaken, and Tangerine and never encountered this before. I appreciate your insight to help explain why in this situation.
10:13 pm
April 6, 2013
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The exact requirements from FINTRAC for relying on a credit bureau file to confirm identity were discussed before.
Credit score has nothing to do with it. Those free "educational" scores are not used for any lending decisions either. One friend works for a Big 5 Bank and has had to tell some loan applicants that they actually don't have an excellent credit score.
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