I'm not sure, but this may help . . .

➡️ https://www.highinterestsaving.....d/#p111820

Dean

1. In order to deal with them online you must have a cell phone and download their silly app. Not just a cell phone, but your very own cellphone. Thus my wife and I cannot share one cellphone, we must each have our own unique cellphone or we will not be able to sign into the online app.

2. In order to sign into the app not only must you have a username, they also require you to do a "swipe". They don't define what they mean by a "swipe" and my phone (IPhone 15) has at least 3 different "swipes" that I am aware of. Why do they require this? Why not just have a text message or email confirmation code procedure like everybody else?!

3. I don't like cellphone apps. I much prefer dealing with my financial institution on a PC computer. They do have a online website accessible from a PC, but ONLY IF you ALSO have a cellphone with their app as well. In order to login to their website from a PC you must FIRST go get your cellphone, login to their cellphone app using the "swipe" procedure, then open their website portal on your PC, initiate another login there, and then go back to your cellphone app to do another "swipe" confirming that is what you want to do. Why? Surely this can be made simpler.

4. If you want to transfer a TFSA out of Saven it will cost you $50 for each and every transfer. So, if you have say 3 different TFSA GIC's and you want to transfer them to a different intstitution it will cost you $50 for each transfer. Most other places I deal with it's free.

5. Every time that I've called their customer support I had to wait on hold for 30-45 min listening to their annoying "music?" and repetitive messages that falsely alert me that someone might be there. Please give me a choice for silence.

I have mentioned these issues to Saven customer support agents on numerous times. Deaf ears I'm afraid.

So, I'm done with Saven and I definitely do NOT give them a positive recommendation. In fact just the opposite. I recommend that you avoid them.

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.

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.

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.)

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).

What was Saven's response when you notified them
about your login experience❓

We'd all like to know.

Dean

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.

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.

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.