Personal Finance

Best TFSA Account for Rate Vs Ease

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[OP]
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Feb 5, 2012
77 posts
262 upvotes
VICTORIA

Best TFSA Account for Rate Vs Ease

I'm aware of 'the chart', which has Motive Financial at the top with 2.05%, but I got the impression reading their thread on here that there are some issues and they're stuck in ancient times. Just wondering what the consensus is on the best consistent TFSA rate that's relatively easy to sign up for and use. Or is Motive not that bad and worth it? Thanks.
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Jan 16, 2007
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Depends on what you mean by "ancient times". They work perfectly fine and give what is stated, they can just take some time to process the application and the online/mobile banking isn't as featureful as other institutions. They're a perfectly reasonable place.
Banking: Alterna Bank (2%), Motive Financial (3%)
Investing: National Bank Direct Brokerage
Spending: Scotia Amex Gold (6 pts/Sobeys, 5 pts/dining, 1 pts/rest), Scene Visa (1 pts)
Mobile: Eastlink 10GB Rollover ($45/mth)
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Aug 9, 2010
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Waterloo
I’d say EQ Bank. The interest rate isn’t the highest out there but it is competitive.

Their app is good and I’ve been using them for years with no issues, except for the occasional downtime every here and there.
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EQ Bank does not have a TFSA account, it is just a normal high interest account so be aware of that if you do choose them.
Banking: Alterna Bank (2%), Motive Financial (3%)
Investing: National Bank Direct Brokerage
Spending: Scotia Amex Gold (6 pts/Sobeys, 5 pts/dining, 1 pts/rest), Scene Visa (1 pts)
Mobile: Eastlink 10GB Rollover ($45/mth)
[OP]
Newbie
Feb 5, 2012
77 posts
262 upvotes
VICTORIA
joshnet wrote: Depends on what you mean by "ancient times". They work perfectly fine and give what is stated, they can just take some time to process the application and the online/mobile banking isn't as featureful as other institutions. They're a perfectly reasonable place.
Thanks for the vouch, maybe I will just try them!
PressureBoom wrote: I’d say EQ Bank. The interest rate isn’t the highest out there but it is competitive.

Their app is good and I’ve been using them for years with no issues, except for the occasional downtime every here and there.
I’m using EQ Bank already myself actually, just looking for a TFSA solution. :)
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Aug 9, 2010
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FearMyWrench wrote: Thanks for the vouch, maybe I will just try them!



I’m using EQ Bank already myself actually, just looking for a TFSA solution. :)
Ah sorry, was on mobile and completely missed the TFSA bit.
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Jan 16, 2007
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@angel_wing0 is currently going through the application and waiting to receive everything for Motive, so if you'd like some fresh input then they can probably help.
Banking: Alterna Bank (2%), Motive Financial (3%)
Investing: National Bank Direct Brokerage
Spending: Scotia Amex Gold (6 pts/Sobeys, 5 pts/dining, 1 pts/rest), Scene Visa (1 pts)
Mobile: Eastlink 10GB Rollover ($45/mth)

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