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[Desjardins Bank] celebrate canada's 150th with Desjardins (Downtown Toronto only)

  • Last Updated:
  • Nov 16th, 2017 9:21 am
Jr. Member
Mar 14, 2009
183 posts
229 upvotes
Toronto
And if you do take a credit card, you get two hard hits despite what the rep told me. Ah, well. Good thing all the cards I've applied for recently pull Transunion.

Also, the inter-institution transfer is one-way only. You can pull money from an external account to Desjardins. But you cannot push it. So you'll have to setup and initiate the transfer from an external bank if you want to pull money out...
Member
Jul 22, 2010
399 posts
56 upvotes
Andyman88 wrote:
Jun 12th, 2017 4:18 pm
Also fair warning, they do a hard hit even if you don't take a credit card. They don't tell you it's a hard hit so just beware this comes at the expense of your score.
so there's no way to avoid this?
Newbie
User avatar
Jul 12, 2007
74 posts
27 upvotes
I can vouch for this, I have Equifax credit monitoring - I got an alert within two hours that "C P VOYAGEURS" a.k.a. Desjardins made a hard inquiry even though I didn't open any credit account.

They are very professional at this branch but this is a severe oversight. I took all precautions, I asked rep. Tara at the front desk and later Antoine during my appointment what type of pull it was and they both assured me it was a SOFT inquiry. Moreover, Antoine before opening my account asked me for consent for the "soft" inquiry we was about to make.

I'm disappointed that such a mistake happened because I am very protective of my information and specially my credit score and who gets to conduct a hard inquiry. Antoine was my advisor, he is willing to work with me to have the hard hit removed, I hope he is able to do so because I feel he truly didn't know the system would do a hard inquiry.

I was hoping Desjardins was better than the big 5 but this is not a good start. I'm still going to give them a chance because I'm thinking of moving my other accounts over - IF AND ONLY they fix their mistake. I also hope that other people taking this offer are now being told the correct information that it is a hard hit.
Newbie
User avatar
Jul 12, 2007
74 posts
27 upvotes
Did you complain about the hard hits? I mean, stopped banking with TD and BMO just because they would do hard hits on me even though I didn't have any credit services with them.
Member
Aug 12, 2006
245 posts
46 upvotes
I signed up for this yesterday - it's close enough to my office that I made an appointment and went at lunch, took about 30-40 minutes to set up. Now I just need to change my payroll deposit and I'm going to switch my home insurance to come out of this account for the direct withdrawal. They gave me a form with the info already filled in for payroll.

So $750 for opening the account (economy plan, no fee if the balance is $1,000), payroll deposit, direct withdrawal, life insurance, and opening the credit card (no fee Visa). They did warn me about the credit check when I made the appointment, although they said it was a soft hit. I haven't checked if it's a hard hit, I'm not doing anything besides a bit of CC churning right now so a hard hit vs a soft hit isn't a big issue for me (I just renewed my mortgage in April for 4 years so that's already locked in). But yeah, if they're doing hard hits and claiming soft, that's not cool.

But I'll take $750 for about 2 hours worth of work, so thanks OP!
Deal Expert
May 30, 2005
39177 posts
1353 upvotes
Richmond Hill
Sea wrote:
Jun 22nd, 2017 11:59 am
I signed up for this yesterday - it's close enough to my office that I made an appointment and went at lunch, took about 30-40 minutes to set up. Now I just need to change my payroll deposit and I'm going to switch my home insurance to come out of this account for the direct withdrawal. They gave me a form with the info already filled in for payroll.

So $750 for opening the account (economy plan, no fee if the balance is $1,000), payroll deposit, direct withdrawal, life insurance, and opening the credit card (no fee Visa). They did warn me about the credit check when I made the appointment, although they said it was a soft hit. I haven't checked if it's a hard hit, I'm not doing anything besides a bit of CC churning right now so a hard hit vs a soft hit isn't a big issue for me (I just renewed my mortgage in April for 4 years so that's already locked in). But yeah, if they're doing hard hits and claiming soft, that's not cool.

But I'll take $750 for about 2 hours worth of work, so thanks OP!
Thanks for the info!

Note that it's not exactly $750 as you have to pay for the life insurance :P How much was yours?
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Member
Jul 22, 2010
399 posts
56 upvotes
Sea wrote:
Jun 22nd, 2017 11:59 am
I signed up for this yesterday - it's close enough to my office that I made an appointment and went at lunch, took about 30-40 minutes to set up. Now I just need to change my payroll deposit and I'm going to switch my home insurance to come out of this account for the direct withdrawal. They gave me a form with the info already filled in for payroll.

So $750 for opening the account (economy plan, no fee if the balance is $1,000), payroll deposit, direct withdrawal, life insurance, and opening the credit card (no fee Visa). They did warn me about the credit check when I made the appointment, although they said it was a soft hit. I haven't checked if it's a hard hit, I'm not doing anything besides a bit of CC churning right now so a hard hit vs a soft hit isn't a big issue for me (I just renewed my mortgage in April for 4 years so that's already locked in). But yeah, if they're doing hard hits and claiming soft, that's not cool.

But I'll take $750 for about 2 hours worth of work, so thanks OP!
has anyone else recently opened an account and seen if it's a hard or soft hit? you can use credit karma i think. though do you think they pull from TU or EQ?

also, how long does payroll have to go on for?
Member
Aug 12, 2006
245 posts
46 upvotes
I think I saw the advisor select Equifax when he was setting up my account, and Credit Karma shows nothing from Desjardins on my Transunion report.

I opened my account June 21 and I just logged into online banking for the first time today to start setting up my bill payments. The first $150 has already been deposited.
Member
May 30, 2011
487 posts
547 upvotes
If I want to open a bank account with Desjardins, what do I have to bring?
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User avatar
Jan 31, 2006
4366 posts
408 upvotes
Toronto
Scavos wrote:
Jun 23rd, 2017 12:12 am
has anyone else recently opened an account and seen if it's a hard or soft hit? you can use credit karma i think. though do you think they pull from TU or EQ?

also, how long does payroll have to go on for?
At least 4 to 6 months. I asked them when I open the account that what the reps told me.
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Sep 3, 2012
1563 posts
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TO
dillybravo wrote:
Jun 14th, 2017 10:11 pm
And if you do take a credit card, you get two hard hits despite what the rep told me. Ah, well. Good thing all the cards I've applied for recently pull Transunion.
This. I met with Adil, I asked, and he said it's a soft pull for opening the chequing account. I Just check Equifax. It's a hard pull.
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sli723 wrote:
Jun 24th, 2017 10:30 pm
If I want to open a bank account with Desjardins, what do I have to bring?
Seems like a question the branch will be happy to answer for you hint hint
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Jon Lai wrote:
Jun 23rd, 2017 12:05 am
Thanks for the info!

Note that it's not exactly $750 as you have to pay for the life insurance :P How much was yours?
Did they give you a quote for the life insurance on the spot? I was very surprised they didn't for mine, the rep said "it won't be much"... I definitely signed up because I had to answer the eligibility questions, but I still haven't received any T&C or know how much will the premium be.
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Aug 29, 2016
132 posts
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Toronto
TheWalrus wrote:
Jun 27th, 2017 4:51 pm
Did they give you a quote for the life insurance on the spot? I was very surprised they didn't for mine, the rep said "it won't be much"... I definitely signed up because I had to answer the eligibility questions, but I still haven't received any T&C or know how much will the premium be.
He told me it was something like 5$ a month...but its free for the first 6 months, so you just pay for the last 6 months, and then you can cancel it. So youre still making money off the 150$ bonus
Sr. Member
Sep 13, 2016
951 posts
409 upvotes
How easy is it to get an appointment. How much in advance did you guys call? And is this the number you called to book an appointment 416-867-3600.

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