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Remove LBC Digital from HISA and GIC comparison charts
June 6, 2023
6:34 am
Doug
British Columbia, Canada
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Since Laurentian Bank has stop selling all LBC Digital (not to mention B2B Bank banking) products, retaining the chequing and HISA accounts for existing LBC Digital clients, and GICs for existing clients who hold them to maturity, LBC Digital should be removed from both the HISA and GIC comparison charts. I will remove it from the free chequing comparison chart shortly.

As Bill has noted in a separate thread, it looks like Laurentian Bank is continuing to offer another savings account product digitally through its mainline Laurentian Bank website, so could potentially be added as a new HISA to the comparison chart, but as the rate history and product is not directly comparable, should be started as a new Laurentian Bank profile. The LBC Digital profile and rate history should then be archived. You could then add a note and a link on the LBC Digital profile to indicate the product was continued by the mainline Laurentian Bank.

It's unclear if GICs can be opened online via Laurentian Bank, or if they have to meet with an advisor, so as of now, we probably should not add Laurentian Bank to the GIC comparison chart until we confirm that they can.

Cheers,
Doug

June 7, 2023
8:28 am
RetirEd
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Doug - why would being able to open a GIC on-line be a requirement for listing in a comparison chart?
RetirEd

RetirEd

June 7, 2023
1:34 pm
Norman1
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The new account and new GIC screens are still active once one signs into the LBC Digital online banking site.

It seems that only new client signups for LBC Digital have been paused. That's consistent with the fine print on the main LBC Digital page:

* The LBC Digital High Interest Savings Account (HISA), LBC Digital Chequing Account and non-registered LBC Digital GICs (purchased via onlinebanking.lbcfg.ca) are only available to existing LBC Digital clients. Restrictions may apply.

We don't know if this is the beginning of the end for LBC Digital or preparation for migrating LBC Digital off the amateurish platform it has been running on.

Please write your comments in the forum.