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Email this6:22 pm
January 10, 2017
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Considering Saven as a replacement for Motive. What are your insights?
5:48 am
August 30, 2023
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They have improved. Now with the promos basically drying up from tangerine and simplii, saven is the only best option left with 2.85% and short term 3.20%.
7:32 am
December 27, 2020
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I like that Saven has state of the art security, using biometrics for signing in. Also, unlike some institutions they allow more than 3 links to other banks, plus their interest rates are in the top echelon.
8:53 am
January 12, 2019
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Lodown said
Considering Saven as a replacement for Motive. What are your insights?
- Ditto ⬆️
The best I can tell, any Issues with Saven, have now been resolved.
- Dean
" Live Long, Healthy ... And Prosper! "
10:25 am
November 16, 2019
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Have been using Saven for a few years now and very happy with them. Web interface works great for me.
Great rates plus FSRA Deposit Insurance Coverage !!!
Biometrics to log in is great for security, although I wanted to add an account for my better half but she hates mobiles and we can't use the same one 
4:40 pm
January 10, 2017
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Thanks all for the input. They are certainly the leaders in daily interest at 2.85%. Their website states their App photo cheque deposit is capped at $25k. Has this been confirmed/tested? Also, are "EFT transfers Out" set to next day or same day?
2:05 pm
June 22, 2023
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I am a new Saven customer. I just tested the EFT transfers (outbound). You cannot create post dated EFTs. Yesterday, I created two outbound EFTs. One to RBC and one to Tangerine for value Feb 24. Tangerine had posted the credit before noon (10:42am to be precise) ET today and RBC had posted the credit before 2 pm ET today. This is faster than Saven posts the debits (which are still not posted, the last time I looked). However, the two debit amounts are reduced from your available bank balance from the time you create the outbound EFTs (ie the available balance is less than your bank balance; until the overnight posting occurs).
Saven selected the date (Feb 24). I could not change it.
2:12 pm
June 22, 2023
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Lodown: There is another funky thing about Saven. One can seemingly only request Interac E-transfers on their platform. It you initiate Interac E-transfers on other financial institutions websites I was unable to successfully deposit them to Saven. I found this most non intuitive.
8:14 pm
January 10, 2017
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NokomisStation said
Lodown: There is another funky thing about Saven. One can seemingly only request Interac E-transfers on their platform. It you initiate Interac E-transfers on other financial institutions websites I was unable to successfully deposit them to Saven. I found this most non intuitive.
So EFT's setup at Saven are set for 1 day later. And no post dating possible.
Cannot receive E-Transfers? That does not seem right.
Link says can receive up to $25k via E-Transfer: https://savenfinancial.ca/en/on-fees
6:07 am
June 22, 2023
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Yes, EFTs are set for one day later, and no post dating capabilities at present. It took one CSR over an hour to confirm that no post dating capabilities exist for EFTs.
You can request funds on Saven's platform for Interac E-transfers. That is how you can receive an Interac E-transfer. I had no success with trying to deposit Interac E-transfers initiated on the sending bank's platform and trying to deposit them at Saven. One CSR acknowledged that this could not be accomplished, but they sounded like a newbie.
You can also send Interac E-transfers from Saven's platform, which I have tested.
7:53 pm
January 10, 2017
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That is odd regarding how to receive E-Transfers at Saven. I have never done it that way. Seems there would be more steps involved but I may be wrong.
8:37 pm
June 22, 2023
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Lodown: It was my first time using the Interac "Request funds" functionality. It does feel more inefficient, but maybe partly because it is unfamiliar. Hopefully another Saven customer will chime in to say that they have received a traditional Interac E-transfer at Saven or to confirm my experiences.
One benefit is there is no 30 minute delay in notification. So, the Saven Request Funds email is sent promtly. The bank that is effectively "sending" the funds seems to have no delays involved. Sometimes, it takes Saven a few minutes (over half an hour when I first tried it) to post the credit.
8:13 am
June 22, 2023
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This is neither good nor bad (just different from most Canadian financial institutions), interest is calculated to Feb.28 and not March 1st.
Scarier is their software. I decided to login this morning through the web browser. It allowed me to get logged in just by typing my email address and NOT authenticating me through my phone app. I then turned off the sim card in my phone and allowed myself to be logged out of Saven on my web browser through inactivity. I then tried logging in on my web browser again and much to my shock, I was allowed to log in without phone app authentication.
I attempted to do a money transfer, which it did not process as it REQUIRED phone app authentication. This is still pretty flaky.
9:16 am
January 12, 2019
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So NokomisStation (Post #13) ⬆️ . . .
What was Saven's response when you notified them
about your login experience❓
We'd all like to know. 
- Dean
" Live Long, Healthy ... And Prosper! "
9:31 am
June 22, 2023
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Dean:
Saven works modern banker's hours, and being the good Christian folks that they are implied to be by taking Sunday off, I (and vicariously you) am in suspense (or at least suspended animation).
2:01 pm
September 7, 2018
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NokomisStation said
This is neither good nor bad (just different from most Canadian financial institutions), interest is calculated to Feb.28 and not March 1st.Scarier is their software. I decided to login this morning through the web browser. It allowed me to get logged in just by typing my email address and NOT authenticating me through my phone app. I then turned off the sim card in my phone and allowed myself to be logged out of Saven on my web browser through inactivity. I then tried logging in on my web browser again and much to my shock, I was allowed to log in without phone app authentication.
I attempted to do a money transfer, which it did not process as it REQUIRED phone app authentication. This is still pretty flaky.
Yes - you can log in to your account when using your computer and the 2FV does not seem required to view your accounts - however when you do a transaction, I believe you will need to do the app authentication. (and hope the app does not bomb.)
10:07 pm
February 7, 2019
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I'd like to consider Saven. Going through the FAQ's though, Individual Accounts only, no joint accounts ...
| CGO |
2:02 pm
June 22, 2023
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Dean:
Saven's response was along the lines of Post #16 from canadian 100. It was not reassuring, but unless you spoke with the right IT resource, I doubt any CSR could actually provide one a legitimate answer.
2:08 pm
June 22, 2023
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Lodown:
I did two more test EFTs initiated from Saven's platform yesterday. EQ Bank posted the credit by 10:39 am ET today. RBC also posted a credit (much larger $ value one) around the same time (I had previously tested RBC, but this was a faster posting by RBC). Manulife posted the credit sometime before 1:00 pm ET.
7:34 pm
June 22, 2023
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Fortunately, I will not have to deal with Saven until the end of May (due to a 4.1% promotional offer from Tangerine). Their back office is highly suspect. I have tried generating a statement using Firefox and Google Chrome for Feb. 2026 and all the transactions are dated Feb. 28, even though there are transactions as early as Feb 14th. What a gong show.
