Saven Financial profile, discussions, and reviews

Website: https://savenfinancial.ca
Headquarters: Hamilton, Ontario
Parent company: FirstOntario Credit Union
Credit union? Yes
Available to Quebec residents? No
Founded in: 2021

Savings account rate history

GIC rate history

Disclaimer: Although our best efforts are made, the information posted on this website is not guaranteed to be accurate. Please visit their website for authoritative information.

Latest discussions about Saven Financial -- view all

Forum/Topic Started Last post Posts

Saven Financial

Saven HISA rate changed

August 10, 2021
6:21 am by
hwyc
View

November 18, 2022
9:44 am by
TommyT
View

25

Saven Financial

Saven Financial, Division of First Ontario Credit Union (Ont. residents only)

January 17, 2021
7:52 am by
GR
View

November 11, 2022
10:38 am by
Loonie
View

35

Saven Financial

SAVEN Hold Policy - Locks your money up for 2 days minimum after transfer

October 15, 2022
6:21 am by
MAC99
View

November 5, 2022
2:06 pm by
TommyT
View

12

Saven Financial

Saven's Membership Fee

September 25, 2022
10:47 am by
mrfalcon
View

September 28, 2022
5:51 am by
mrfalcon
View

8

Saven Financial

Saven's transfer funds options

June 25, 2022
2:11 pm by
iotama
View

September 11, 2022
2:25 pm by
iotama
View

6

4 Reviews »

  1. Customer service:

    Account features:

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees:

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: I have attempt to open an account several time unsuccessfully, I have no issue applying to open new account at all other CU and Canadian online banks. After filling out all the question they are unable to check my identity weird?

    Why do you bank with them?: High interest

    What do you like about this bank / credit union?: n/a

    What could be improved about this bank / credit union?: n/a

    General comments: Fix the online application glitch

    Review by KAREN LEE — November 24, 2022 @ 6:54 pm

  2. Customer service:

    Account features:

    Interest rates (consistency and amount):

    Fees:

    Interface (online, telephone, in-person, etc.):

    How long have you banked with them?: never

    Why do you bank with them?: Tried to apply but couldn't due to mobile phone requirement and them not accepting landline #s.

    What do you like about this bank / credit union?: Highest savings account interest rate.

    What could be improved about this bank / credit union?: They should allow verification via e-mail or phone calling instead of just SMS.

    General comments: Tried to apply but they will only accept a mobile phone # for verification. They do not accept landline #s. I find this to be discriminatory (even if it may be unintentional) against low income people. Other financial institutions (eg. Simplii Financial, EQ Bank) allow verification via e-mail or phone calling--so I don't understand Saven's fixation on mobile #s. I hope they fix it in the future.

    Review by Birdy — October 27, 2022 @ 5:14 pm

  3. Customer service:

    Account features:

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 3 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: Can't even open an account

    Why do you bank with them?: I don't.

    What do you like about this bank / credit union?: Interest rate

    What could be improved about this bank / credit union?: Fix the account creation process.

    General comments: I decided to open an account and this is what happens: 1. The page asks for an email and a mobile phone number to which they'll send a code over SMS (this is IT Security theatre. It's not reliable. But it's better than nothing. Better to use a one-time passcode like Google Authenticator or Authy.) - this took about 5 tries to actually get a code 2) In the password field the password requirements lower security. The only things that matter for password strength are: length and amount of potential characters. As soon as you _require_ something (like an uppercase letter, lowercase letter, number, special character, etc.) it lowers entropy. It's like getting a yellow letter in Wordle. - But there are a lot of IT Security Nincompoops out there. And banks tend to only do what will cost less than a breach. So it is understandable. 3) The process was confusing.....do I need to verify my phone number before entering a password? Anyway, when I did all that I got a webpage saying "Sorry, something went wrong. Go to our Contact Us page to tell us about it [link provided]". 4) I click the link. It's a 404 - Page not found. Okay, I give up. I'll go to another institution.

    Review by mrfalcon — September 28, 2022 @ 5:46 am

  4. Customer service: Rated 1 / 5 stars

    Account features: Rated 3 / 5 stars

    Interest rates (consistency and amount): Rated 5 / 5 stars

    Fees: Rated 5 / 5 stars

    Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars

    How long have you banked with them?: I am still trying to sign up

    Why do you bank with them?: I do not bank with them as I cannot sign up and nobody will answer their Customer Service line?

    What do you like about this bank / credit union?: Totally unacceptable service as nobody will answer their Customer service line.

    What could be improved about this bank / credit union?: Get their on line system for sign up to work properly and have a customer service person answer the phone. I have tried 3 times now over the past couple of weeks and have waited over 1 hour phone and No Answer???

    General comments: Your web site leaves a lot to be desired. This is the third time I have tried to sign up with No success?? Your system says I haven't completed all the required info however it will not let me complete it?? I was on hold the last time for over 1 hour and couldn't wait any longer. Same thing every time. Is this an example of the kind of Service I can expect from you when you have my money????? Would a Senior management person call me at 226 668 9619. Regards Paul Beach

    Review by Paul — June 4, 2022 @ 12:35 pm

Submit a review

*** All fields are required ***

Please rate the following (5 is better; 1 is worse):

1 2 3 4 5 n/a

1 2 3 4 5 n/a

1 2 3 4 5 n/a

1 2 3 4 5 n/a

1 2 3 4 5 n/a

*
To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word