Personal Finance

Access Credit Union, Fusion Credit Union, Niverville Credit Union & Rosenort Credit Union open up to all Canadians

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Dec 17, 2008
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dmehus wrote: They charge for deposits?

I think @Poutinesauce doesn't mean the initial deposit, but rather how to make regular deposits, for which those are valid options but also deposit at any Acculink ATM (generally, 95-99% of all CUs in Canada, not Meridian though as they're not on Acculink).

Cheers,
Doug
If you deposit more than 10 times in a month using Remote Deposit (Taking a pic through the app) they charge 0.50 per deposit after the 10 per month. I doubt anyone will have an issue or reach that limit but I just wanted to make him aware. First time I have seen a CU charge for deposits. Also Rosenort charges for balance inquiries at the ATM
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@dmehus looks like I'm finally ready to put Access CU on (small) wheels now. Booked a BT from PCF MC WE to my MBNA VISA. Once funds arrive at MBNA, I'll DD to Access and stuff the TFSA.

It's not much, PCF gave me $5k CL so I BT'd $4.9k. Already got the 100k PCO pts from first spend at partner store, paid off and let statement close. Now got the BT train started, so I'll enjoy 2.85% until end of year.
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titaniumtux wrote: @dmehus looks like I'm finally ready to put Access CU on (small) wheels now. Booked a BT from PCF MC WE to my MBNA VISA. Once funds arrive at MBNA, I'll DD to Access and stuff the TFSA.

It's not much, PCF gave me $5k CL so I BT'd $4.9k. Already got the 100k PCO pts from first spend at partner store, paid off and let statement close. Now got the BT train started, so I'll enjoy 2.85% until end of year.
Thanks for the update, @titaniumtux! Push/pull EFTs should be fast for Access Credit Union since they are part of Credit Union Central of Manitoba, which contracts our their clearing to SaskCentral and/or Credit Union Central of Alberta. :)

What do you mean by BT? Sorry, new acronym with which I'm not familiar. ;)

Cheers,
Doug
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dmehus wrote: Thanks for the update, @titaniumtux! Push/pull EFTs should be fast for Access Credit Union since they are part of Credit Union Central of Manitoba, which contracts our their clearing to SaskCentral and/or Credit Union Central of Alberta. :)

What do you mean by BT? Sorry, new acronym with which I'm not familiar. ;)

Cheers,
Doug
Balance transfer.
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I want to add an external account to Rosenort to transfer money to and from it, but there is no such function in the control panel, only one to "link external accounts", which means viewing banking information from these accounts but not being able to make transfer with them.

I added Rosenort through Tangerine, but then I immediately cancelled it, because it involves Tangerine sending two micro deposits. I cancelled it because I worry that if Tangerine makes these two micro deposits for me to report, once they will withdraw them, Rosenort will treat them as two withdrawals and charge me $5 each for it.

As far as I understand, Alterna and Simplii both require mailing a void check? I don't want to pay through the nose for Rosenort checks.

Without a void check, motusbank requires an employee to sign a form and identify itself.

This is such a total pain and hassle.
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https://www.rcu.ca/site/images/Forms/RC ... 20form.pdf

Wow, can you believe it... THIS is the authorization form for pre-authorized debits with RCU.

No offense but... are you kidding me? It looks like it was made in 5 minutes in MS Word. This is one of the most amateurish things I have ever seen. If I was a bank employee who dealt with this form I would be really scared it was fraud.
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Poutinesauce wrote: I added Rosenort through Tangerine, but then I immediately cancelled it, because it involves Tangerine sending two micro deposits. I cancelled it because I worry that if Tangerine makes these two micro deposits for me to report, once they will withdraw them, Rosenort will treat them as two withdrawals and charge me $5 each for it.
Tangerine doesn't claw back microdepoits. They let you keep the pennies.

The only place I've found that claws back microdeposits is PayTM.
Poutinesauce wrote: As far as I understand, Alterna and Simplii both require mailing a void check? I don't want to pay through the nose for Rosenort checks.
Read this post for a non-snail mail way to link external accounts to Simplii. They do require a physical stamp on the account confirmation/void cheque, though. So you need to ask Rosenort for a stamped account confirmation. I'll be surprised if they don't give it to you for free.
Poutinesauce wrote: Without a void check, motusbank requires an employee to sign a form and identify itself.
Are you sure Motus requires a signature? I'm pretty sure they don't, but I could be wrong.
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Access just raised their etransfer limits to $6000 per transaction ($10,000 per day... Which is also the weekly tansfer limit... So I guess per week?)

Just thought I'd share
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someweirdo wrote: Tangerine doesn't claw back microdepoits. They let you keep the pennies.

The only place I've found that claws back microdeposits is PayTM.



Read this post for a non-snail mail way to link external accounts to Simplii. They do require a physical stamp on the account confirmation/void cheque, though. So you need to ask Rosenort for a stamped account confirmation. I'll be surprised if they don't give it to you for free.



Are you sure Motus requires a signature? I'm pretty sure they don't, but I could be wrong.
Good to know about Tangerine. I mostly had experience with Paypal in linking external banking accounts through confirmation of microdeposits, and they do too claw back the money. That's why I was wary.

And yes they do require a signature if you don't have a void cheque to provide, I've seen it on their PDF form.
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Shawguy wrote: Access just raised their etransfer limits to $6000 per transaction ($10,000 per day... Which is also the weekly tansfer limit... So I guess per week?)

Just thought I'd share
Do you think other FIs will follow suit? I hope so.

I always thought the $3000 limit was imposed by Interac, though, not the banks.
Poutinesauce wrote: I mostly had experience with Paypal in linking external banking accounts through confirmation of microdeposits, and they do too claw back the money.
Really? Paypal hasn't clawed back the microdeposits they've given me.
Poutinesauce wrote: And yes they do require a signature if you don't have a void cheque to provide, I've seen it on their PDF form.
Rosenort won't give you a void cheque? Motus would probably accept an account confirmation form, too.
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Poutinesauce wrote: Anyone knows what day of the year Rosenort gives their interest? I thought it would have been on December 1st but it wasn't.
January 1.

Technically it will be paid as of Dec 31..but you won't see it till January 1.
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someweirdo wrote: Tangerine doesn't claw back microdepoits. They let you keep the pennies.

The only place I've found that claws back microdeposits is PayTM.

I know from experience PayPal USA claws back microdeposits, so you can't link Transferwise Border Account to Paypal USA since Transferwise doesn't let the money be clawed back out.
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Bull Dog wrote: I know from experience PayPal USA claws back microdeposits, so you can't link Transferwise Border Account to Paypal USA since Transferwise doesn't let the money be clawed back out.
That sucks. I've been able to link Transferwise with my Canadian PayPal account.
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Rosenort seems to have stopped accepting online account applications. Quite a pity since their rate is good.

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