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Email thisWebsite: https://savenfinancial.ca
Headquarters: Hamilton, Ontario
Parent company: FirstOntario Credit Union
Credit union? Yes
Available to Quebec residents? No
Founded in: 2021
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 |
|---|---|---|---|
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Saven Financial |
December 19, 2022 |
September 26, 2023 |
10 |
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Saven Financial |
August 10, 2021 |
September 13, 2023 |
33 |
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Saven Financial |
June 22, 2023 |
June 23, 2023 |
2 |
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Saven Financial |
January 24, 2023 |
June 8, 2023 |
32 |
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Saven Financial SAVEN Hold Policy - Locks your money up for 2 days minimum after transfer |
October 15, 2022 |
February 5, 2023 |
19 |
Customer service: Rated 1 / 5 stars
Account features: Rated 1 / 5 stars
Interest rates (consistency and amount): Rated 1 / 5 stars
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: 1 year
Why do you bank with them?: They had good GIC rates
What do you like about this bank / credit union?: nothing
What could be improved about this bank / credit union?: online access without phone
General comments: Horrible app, cant login without it. And app doesn't work. Have had no access for 2 weeks now.
Review by Jim — March 16, 2023 @ 4:43 am
Customer service: Rated 3 / 5 stars
Account features: Rated 1 / 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?: Month
Why do you bank with them?: Interest rates
What do you like about this bank / credit union?: Interest rates
What could be improved about this bank / credit union?: You just changed the log in. Now I can’t get in on the app because it says timed out when I have logged out. Won’t let me log in except with the app. A real catch 22. I have to delete the app and then reinstall. This is on an iPhone.
General comments: The money you are transferring in should always show up, not in limbo somewhere. Show the date the transfer took place.
Review by Michael — March 10, 2023 @ 10:37 am
Customer service: Rated 5 / 5 stars
Account features: Rated 1 / 5 stars
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?: 2 years
Why do you bank with them?: I like their Interac transfer capability
What do you like about this bank / credit union?: I liked their Interac transfer capability and generally best interest and GIC rates.
What could be improved about this bank / credit union?: There timeline to move money is *absurdly* long. Can only login via App on iPhone.
General comments: Move money in takes 5 business days then up to a 7 business day hold. Then it's 5 business days to move it out.
Review by MAC99 — February 7, 2023 @ 9:25 am
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?: Still trying to signup
Why do you bank with them?: Interest Rate
What do you like about this bank / credit union?: Interest Rate. They have eTransfer and Check Deposit
What could be improved about this bank / credit union?: Online
General comments: Can't signup. After you complete Step 1 and click continue get an error page. Someone else reported same issue from September of last year. Can't believe they still didn't fix this. No wonder its 3.75% because no one can signup.
Review by Lucas — January 22, 2023 @ 9:05 am
Customer service: Rated 5 / 5 stars
Account features: Rated 3 / 5 stars
Interest rates (consistency and amount):
Fees:
Interface (online, telephone, in-person, etc.):
How long have you banked with them?: Tried opening an account on my computer in Nov and had issues, think it was a browser cookie problem. Sucessfully opened an account using my phone on Dec 11/22
Why do you bank with them?: Highest HISA rate right now
What do you like about this bank / credit union?: Highest rate
What could be improved about this bank / credit union?: They need to work on their online interface both on the desktop and mobile applications.
General comments: E-txr to fund account works great except for the silly $3K per day, $10K per week, $20K per month limit imposed on individuals using e-txfr to move money. I linked two other banks without any issues. My biggest complaint is that when you do a linked account transfer from other bank to Saven or Saven to other bank it post dates it 5 days, then takes 2 days to actually show up in the other account and Saven holds the funds another 2 days. Seems excessive as I'm using many other online banks that don't hold up funds in transit that long. I can live with it as long as they have the highest savings rate.
Review by Steve — December 22, 2022 @ 5:12 am
Customer service:
Account features: Rated 4 / 5 stars
Interest rates (consistency and amount):
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 2 / 5 stars
How long have you banked with them?: 3 weeks
Why do you bank with them?: High interest rates
What do you like about this bank / credit union?: High interest rates
What could be improved about this bank / credit union?: A record of transfers when a transfer is done instead of a receipt.
General comments: I put $26 dollars into the account and it took a long, long time before the 25 dollars ever found its way into the membership account. The same is true about money already in the account but not yet showing up when trying to purchase a GIC. A lag in days before all the money shows up there to purchase a GIC. Would they pay daily interest if the $25 was not already in the membership account? I don't know? Accounts can be linked if they're in the list but ones not in the list are hit and miss when trying to link them. No problem originally signing up
Review by Tony — December 21, 2022 @ 7:36 am
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
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
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
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