MotiveFinancialAvis 

Sometime in October this year, I got a purple flyer in the mail saying the interest rate for new account holders will be 5.75% guranteed for 120 days. Offer was guaranteed if you open an account till November 30th, so to get this offer, I opened account on October 30th. Little did I know that the interest rate dropped .4% on November 1st, so they dropped my account Interest rate as well. This is a BIG NO NO if you want to attract new clients. At least, Tangerine bank doesn't do that.

I asked one of the representatives, what if somebody had opened an account online on November 25th online, how is that person supposed to know that the person will be getting 5.35%, because that person is well before the deadline of the guaranteed interest rate. I was told in a very rude way that sir, the base interest rate is dynamic, and the bonus interest rate is 2.15%, so if the interest rate drops, so will my interest rate on the savings account, and I should have read the fine print.

I asked further, but didn't I sign up for 5.75% for 120 days in the first place as a new client. If anybody has banked with Simplii, CIBC, or Tangerine, any offer you accept is good for 120 days. If the base interest rate drops, the bonus will go up to make up for the drop, atleast until the promised time and at the promised rate.

Also when the interest rate changes, any bank will send an automated email to clients letting them know of the change. This did not happen in this case.

I just pulled out my money to another bank couple of days ago, just waiting to cancel the account, once I receive this month's interest deposited in another account.

Nancy was my Motive Financial Edmonton Customer Service representative. I needed to provide instructions for a total of 6 TFSA-GICs which were coming due on January 3 and 4, 2025, and not only was this done in an very professional manner, but Nancy also suggested that I should split the total of all of the GICs into 3 new GICs to be able to redeem only one if it became necessary to do so. Nancy was not only polite and professional but also quite knowledgeable. It was an extremely positive experience, and she turned something mundane into something quite positive

The customer service is terrible. Their entire banking system, not just the online platform, often goes down for more than half a day. Interac e-transfers are frequently rejected.

To link external accounts, they require a void cheque to be physically mailed—a process that's outdated. Their mobile app looks like it’s from 1999 and hasn’t been updated, unlike credit unions that update their apps regularly.

Every time you log in, an OTP code is required, even if you’re using biometric authentication, and this cannot be bypassed. Even the CRA allows clients the option to temporarily suspend OTP for added convenience. This bank fails to follow modern financial digital security standards. Management is tone deaf.

great customer service.
5 stars for Hana

I tried to open a GIC at Motive. After completing the online application, I received an email informing me I needed to call Motive during business hours to complete the application. I called, waited 25 minutes on hold, only to be told by a representative that email is routinely sent out to new depositors and was a mistake. Apparently, there is no reason for new depositors to call, Motive needed no additional information from me, and staff had asked Motive management unsuccessfully to correct the error. I asked if I could speak to a manager, and was told a manager would call me at 12:15 the next day. No manager called the next day. My first impressions of Motive are of incompetence and disrespect for its customers. I won't be investing with them.

doesnt answer phone, no way to rectify errors

Excellent service. Their platform is simple and gets the job done. I can tell it keeps their costs low, and I appreciate that as a customer because that translates into excellent interest rates on my savings.

Their staff are very attentive and pleasant. Very happy so far. Started out with a savings account, but have now also moved my Chequing to Motive.

Customer service agent was useless and rude. After asking three simple questions and getting a blunt rude comment back. I decided Motive can not be trusted. I wouldn’t trust my money with an online account where their customer service is pathetic.