Personal Finance

Motive Financial Savy Savings Account 2.8%

  • Last Updated:
  • Jan 21st, 2019 6:47 pm
Deal Addict
Dec 16, 2012
1846 posts
206 upvotes
Vancouver
I think you can get $25 now if you sign up and have $1000 for 90 days. Makes me a bit more motivated to sign up.

https://www.motivefinancial.com/Offer/

I just wish their debit card would work at cashier terminals in the USA. I would sign up in a instant.
Member
User avatar
Jun 23, 2017
454 posts
164 upvotes
Toronto, ON
titaniumtux wrote:
Nov 10th, 2018 1:04 am
Also worthy mention. Add a free chq account to the mix. Unlimited internal transfers, and unlimited transfers from the chq account. This makes Motive a beast!
any access to cash via ATM's fee-free? or need to xfer funds to my accounts at big-5 banks then pull out?
Member
User avatar
Jun 23, 2017
454 posts
164 upvotes
Toronto, ON
PressureBoom wrote:
Nov 10th, 2018 12:07 am
Wow, thanks for posting this OP! Good one to keep in mind for when my Tangerine promo is up.
might just open up account now for landing spot for funds after Simplii 3.15% promo expires Feb.28.
Deal Addict
Dec 16, 2017
1746 posts
674 upvotes
Raincouver
xiaobao wrote:
Nov 22nd, 2018 11:50 pm
I think you can get $25 now if you sign up and have $1000 for 90 days. Makes me a bit more motivated to sign up.

https://www.motivefinancial.com/Offer/

I just wish their debit card would work at cashier terminals in the USA. I would sign up in a instant.
you can. Motive Debit is equipped w/ Maestro (MasterCard International) to do in-person transaction as a debit card (same as BMO Debit - not the MC Debit one)
CAN/USA Cross Border Banking

Netflix? Bill me in Turkish Lira, Watch Me around the world.
Newbie
Aug 4, 2018
35 posts
25 upvotes
905P4N6 wrote:
Nov 23rd, 2018 11:24 am
if this is true, Motive needs to be ranked up in the RFD Savings Thread ... official-rfd-thread-savings-accounts-up ... 18-698055/
That RFD Savings Thread you mentioned already has their original still existing 1.5% "Motive Savings Account" only, but had already requested on that thread there to add this new 2.8% Motive Financial Savy Savings Account.
905P4N6 wrote:
Nov 23rd, 2018 11:26 am
any access to cash via ATM's fee-free? or need to xfer funds to my accounts at big-5 banks then pull out?
Note that even though their website says "THE EXCHANGE Network ATM withdrawal1 Free", they have confirmed each ATM withdrawal count towards your "2 Free" transactions with "Additional transactions $5.00" that month so your month's third transaction as an ATM withdrawal from Savvy Savings costs five bucks. She also said "deposits are free" clarifying further not charged as a transaction. You could transfer funds with Me-to-Me linking to your "big-5 banks" account(s) to withdraw or find your nearest ding-free EXCHANGE ATM here to use your Motive Financial ATM card.

Again (already mentioned and probably all know), Savvy Savings account applicants should also apply for their free Motive Cha-Ching Chequing Account™. Then repeat as needed "Free Transfer" step between Savvy Savings and Cha-Ching Chequing accounts to get free that third withdrawal or other transactions (from Cha-Ching Chequing) more than just Savvy Savings' "2 Free" included per month.
Deal Addict
Dec 16, 2012
1846 posts
206 upvotes
Vancouver
dekvitaly wrote:
Nov 23rd, 2018 1:03 pm
you can. Motive Debit is equipped w/ Maestro (MasterCard International) to do in-person transaction as a debit card (same as BMO Debit - not the MC Debit one)
Hmm, I emailed support and they just said this:
Thank you for contacting Motive Financial. Unfortunately, you will not be able to use the debit card for point of sales transactions although you can have access to ATMs within the Cirrus or Exchange network. You may incur fees depending on the ATM. We do have a new Chequing account that will give you access to 2 non-exchange network for free. You can read more about on our website.
Deal Addict
Dec 16, 2017
1746 posts
674 upvotes
Raincouver
xiaobao wrote:
Nov 23rd, 2018 2:37 pm
Hmm, I emailed support and they just said this:
That's definitely wrong. Motive has Maestro on their physical card.
However, Canadian debit PIN may not work like Chip/PIN in the US but Swipe/Signature.

I do not use Canadian debit in the US ever (I have true US-based bank w/ appropriate credit and debit card)
CAN/USA Cross Border Banking

Netflix? Bill me in Turkish Lira, Watch Me around the world.
Deal Addict
Dec 16, 2012
1846 posts
206 upvotes
Vancouver
dekvitaly wrote:
Nov 23rd, 2018 3:00 pm
That's definitely wrong. Motive has Maestro on their physical card.
However, Canadian debit PIN may not work like Chip/PIN in the US but Swipe/Signature.

I do not use Canadian debit in the US ever (I have true US-based bank w/ appropriate credit and debit card)
hmm, not sure guess someone would have to try. I don't really use debit in the US but since I don't have a visa card I can't pay by CC at costco, also winco a store I go to quite often when down their takes no credit cards at all.

Sure I can get a Visa card for costco but still would not help with Winco and hence why I was hoping this their debit card would work in USA.

I guess sign up and hope they are wrong but it's going to take months till I actually can verify if this works or not.
Deal Addict
Dec 16, 2017
1746 posts
674 upvotes
Raincouver
xiaobao wrote:
Nov 23rd, 2018 3:06 pm
hmm, not sure guess someone would have to try. I don't really use debit in the US but since I don't have a visa card I can't pay by CC at costco, also winco a store I go to quite often when down their takes no credit cards at all.

Sure I can get a Visa card for costco but still would not help with Winco and hence why I was hoping this their debit card would work in USA.

I guess sign up and hope they are wrong but it's going to take months till I actually can verify if this works or not.
WinCo is debit only and usually it's US Debit as Canadian co-brand VISA/MC Debit would be processed as credit.

Look at an article by BMO. ""With the BMO Debit Card on the Maestro network, Canadians can access funds from their bank account here at home and make debit purchases at shops and restaurants in over 100 countries around the world." Lots of agents might be confused over this fact. Also, our CUs debit can be used down there as well (not the chip/PIN way rather swipe/signature I believe) and quite consistent w/ Maestro notice over US Debit/Signature

While you go down there that often and you seem to really need a debit card for US purchase, what's holding you from opening a US bank and get a true US Debit
CAN/USA Cross Border Banking

Netflix? Bill me in Turkish Lira, Watch Me around the world.
Deal Addict
Dec 16, 2012
1846 posts
206 upvotes
Vancouver
dekvitaly wrote:
Nov 23rd, 2018 3:10 pm
WinCo is debit only and usually it's US Debit as Canadian co-brand VISA/MC Debit would be processed as credit.

Look at an article by BMO. ""With the BMO Debit Card on the Maestro network, Canadians can access funds from their bank account here at home and make debit purchases at shops and restaurants in over 100 countries around the world." Lots of agents might be confused over this fact.

While you go down there that often and you seem to really need a debit card for US purchase, what's holding you from opening a US bank and get a true US Debit
Well my cost capital debit card works at Winco but I am trying to move away from Coast capital as I just don't like them much anymore.

I use to go down every 2 to 4 weeks but these days it' is like every 2-4 months. So I am not sure if it is worth the hassle of getting a US bank account for 2 stores. Only way I would think of this is as I am actually getting paid by some clients in USD right now and thinking it might be better to transfer to a US bank account to avoid PayPal conversion fees as they seem to be pretty bad, but I have not done enough research on that yet.
Deal Addict
Dec 16, 2017
1746 posts
674 upvotes
Raincouver
xiaobao wrote:
Nov 23rd, 2018 3:15 pm
Well my cost capital debit card works at Winco but I am trying to move away from Coast capital as I just don't like them much anymore.

I use to go down every 2 to 4 weeks but these days it' is like every 2-4 months. So I am not sure if it is worth the hassle of getting a US bank account for 2 stores. Only way I would think of this is as I am actually getting paid by some clients in USD right now and thinking it might be better to transfer to a US bank account to avoid PayPal conversion fees as they seem to be pretty bad, but I have not done enough research on that yet.
Please never use PayPal for forex. You lose more than 3% from their terrible exchange rate.
It is hassle free IMO to get a US bank, not much to manage (free account, free eStatement really). Banner Bank is the best for Canadian resident.

Coast Cap has gone terrible. I had that account since 2010 and closed it just last month.
Per the above VISA Debit thing, if you have one from maybe TD or CIBC, you can use as debit actually (Interlink logo)
CAN/USA Cross Border Banking

Netflix? Bill me in Turkish Lira, Watch Me around the world.

Top

Thread Information

There is currently 1 user viewing this thread. (1 member and 0 guests)

atpong