Personal Finance

Hubert 1-yr Quarterly Term 4.6% avg, Savings account 3.25%, Updated Dec 19, 2022

  • Last Updated:
  • Jan 25th, 2023 9:46 am
Jr. Member
Feb 28, 2007
180 posts
120 upvotes
Toronto
hi @DrAcX

When you update your OP regarding new change, could you please also add a new reply so that RFD can sent a notification to subscribed users. TIA

I subscribed before Jul6 and I did not get any notifcation regarding Jul06 increase.

Thanks
[OP]
Sr. Member
Jul 25, 2010
721 posts
898 upvotes
Vancouver
bjwcg7tf wrote: hi @DrAcX

When you update your OP regarding new change, could you please also add a new reply so that RFD can sent a notification to subscribed users. TIA

I subscribed before Jul6 and I did not get any notifcation regarding Jul06 increase.

Thanks
sure, will do that next time
Deal Fanatic
Jan 21, 2018
7826 posts
8512 upvotes
Vancouver
bjwcg7tf wrote: hi @DrAcX

When you update your OP regarding new change, could you please also add a new reply so that RFD can sent a notification to subscribed users. TIA

I subscribed before Jul6 and I did not get any notifcation regarding Jul06 increase.

Thanks
If you have an account with them you should get an email about rate changes the day before they take effect.
[OP]
Sr. Member
Jul 25, 2010
721 posts
898 upvotes
Vancouver
Updated rates, quarterly +0.35%, savings +0.55%
Deal Addict
User avatar
Nov 26, 2011
3318 posts
693 upvotes
EQ is now paying 4.3% on a 1 year GIC
5-10 years is paying 5% on a GIC
Deal Addict
Mar 30, 2009
1213 posts
774 upvotes
This is almost too good to be true. You're really only locked in for 3 months, but you get way more interest than any high interest savings account. Also, there's no limit to the insurance provided by the Deposit Guarantee Corp of Manitoba. I'm not sure why this is not being discussed more.

For those who bank with Hubert. How easy and quick is it to open an account?
Sr. Member
Sep 14, 2009
810 posts
455 upvotes
Kingston
frugal1 wrote: This is almost too good to be true. You're really only locked in for 3 months, but you get way more interest than any high interest savings account. Also, there's no limit to the insurance provided by the Deposit Guarantee Corp of Manitoba. I'm not sure why this is not being discussed more.

For those who bank with Hubert. How easy and quick is it to open an account?
Just opened an account for the 1 year GIC. It does seem a great product to manage probable continued rate increases for the rest of 2022.
Newbie
User avatar
May 19, 2021
37 posts
29 upvotes
Is there a fee when transferring between another bank and Hubert via EFT? Is that what they're referring to when they mention the wire transfer fee ($9.53 CDN for Canadian wires)?
Jr. Member
Feb 28, 2007
180 posts
120 upvotes
Toronto
magicalsnack wrote: Is there a fee when transferring between another bank and Hubert via EFT? Is that what they're referring to when they mention the wire transfer fee ($9.53 CDN for Canadian wires)?
Part of account setup process, you need to provide a void cheque for linking your own bank. Eventually, it will be used to transfer in/out externally to this linked bank. No charge.
Deal Addict
User avatar
Nov 26, 2011
3318 posts
693 upvotes
bjwcg7tf wrote: Part of account setup process, you need to provide a void cheque for linking your own bank. Eventually, it will be used to transfer in/out externally to this linked bank. No charge.
Do have to send a physical cheque or just input the relevant numbers?
Jr. Member
Feb 28, 2007
180 posts
120 upvotes
Toronto
Rockdaddy22 wrote: Do have to send a physical cheque or just input the relevant numbers?
I uploaded a scanned cheque image to their secure website.
Deal Addict
Jun 15, 2021
1229 posts
1137 upvotes
Darn and I closed my Hubert accounts.

Can I just keep the money locked in for the first 90 days and get the full 3.90%? How often is the interest paid?
Something something signature
Deal Addict
Sep 11, 2006
2151 posts
817 upvotes
I feel like I still have a $5 membership fee at Hubert that theynever refunded me
Newbie
User avatar
May 19, 2021
37 posts
29 upvotes
bjwcg7tf wrote: Part of account setup process, you need to provide a void cheque for linking your own bank. Eventually, it will be used to transfer in/out externally to this linked bank. No charge.
Thanks! How have you found the user experience for their online banking and mobile app?
Jr. Member
Feb 28, 2007
180 posts
120 upvotes
Toronto
magicalsnack wrote: Thanks! How have you found the user experience for their online banking and mobile app?
I did not use their mobile app and only did sole/joint account setup process, small amount transfer in/out.
so far, they were straight forward and easier to use (similar to eq bank).
I plan to park short term money taking advantage in their 1Y term's flexibility. Will see after banking more with them and more contacts with their customer support.
Deal Addict
Mar 3, 2009
1713 posts
1034 upvotes
Ottawa, ON
MrBungal wrote: Darn and I closed my Hubert accounts.

Can I just keep the money locked in for the first 90 days and get the full 3.90%? How often is the interest paid?
First it's never locked in. You can call them and take it out at any point but they only pay interest every 90 days.

Second - 3.90% is the annual rate so you would get 1/4 of that.

But yes, withdrawal one day after interest paid is the best time to do it.
Deal Fanatic
Jan 21, 2018
7826 posts
8512 upvotes
Vancouver
dr_torch wrote: But yes, withdrawal one day after interest paid is the best time to do it.
Day of, actually. Interest is paid in the morning of the quarterly date, and you can withdraw right away, and re-up at a higher rate if desired.
Deal Addict
Mar 3, 2009
1713 posts
1034 upvotes
Ottawa, ON
Scote64 wrote: Day of, actually. Interest is paid in the morning of the quarterly date, and you can withdraw right away, and re-up at a higher rate if desired.
Yes, good point.

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