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Email thisWebsite: https://maxafinancial.com/
Headquarters: Brandon, Manitoba
Parent company: Westoba Credit Union
Credit union? Yes
Available to Quebec residents? Yes
Founded in: 2006
Disclaimer: Although our best efforts are made, the information posted on this website is not guaranteed to be accurate. Please visit their website for authoritative information.
Latest discussions about MAXA Financial -- view all
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MAXA Financial Goodbye MAXA Financial, likely effective on or shortly thereafter January 1, 2025 |
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MAXA Financial |
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Customer service: Rated 5 / 5 stars
Account features: Rated 4 / 5 stars
Interest rates (consistency and amount): Rated 5 / 5 stars
Fees: Rated 3 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 3 / 5 stars
How long have you banked with them?: 3 years
Why do you bank with them?: They offer very competitive rates, and also manage my LIRA funds, which not all FIs will take on.
What do you like about this bank / credit union?: I found their CSRs to be accurate and capable. Setting up my LIRA was not simple, and required major paperwork to transfer the funds from Sun Life (DC pension custodian). MAXA CSRs worked through all this paperwork effectively. Their 21 day rate guarantee feature was also very helpful in locking in some 5 year GICs when rates started to drop in December 2022. I especially liked the feature that you could book a larger total amount for the rate guarantee, and then apply it to multiple GIC purchases over the 21 day period, as long as they added up to your total guarantee amount.
What could be improved about this bank / credit union?: Fees for cheques seem a bit high, and since there is very limited capacity for online funds transfer, it would be nice if they didn't charge as much for cheques.
General comments: I feel happy not to have all my savings in one Manitoba credit union, and appreciate MAXA's option to hold LIRA funds, which not all credit unions will take.
Review by Rail Baron — April 2, 2023 @ 11:56 am
Customer service: Rated 2 / 5 stars
Account features: Rated 2 / 5 stars
Interest rates (consistency and amount): Rated 2 / 5 stars
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 4 / 5 stars
How long have you banked with them?: Two years
Why do you bank with them?: Initially savings account interest rates
What do you like about this bank / credit union?: Currently (Aug 2022) they have the best 5 yr. GIC rate bar none
What could be improved about this bank / credit union?: They do not allow linking to external financial institutions, but require you to speak to a CSR to facilitate. This is silly and aggravating. Best you can do is write a cheque to yourself but their cheque ordering is costly
General comments: They have raised their GIC and HISA rates recently and are fairly competetive. Only Motive is currently doing better. Wait times for telephone service are very long but this seems to be the way regardless of institution.
Review by AJ Lister — August 19, 2022 @ 10:01 am
Customer service: Rated 1 / 5 stars
Account features: Rated 3 / 5 stars
Interest rates (consistency and amount): Rated 4 / 5 stars
Fees: Rated 3 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: Too many years. As monies come due, I will be transferring them elsewhere. The wait times on hold are way too long and by the time you do speak to someone, it's often pointless; the rep. will forget whatever he or she was supposed to do, whether it's send an email confirmation of a deposit or transfer money from savings to a GIC. I'm increasingly disgusted with MAXA.
Why do you bank with them?: Initially, the interest rates. But these are not as competitive as they used to be either.
What do you like about this bank / credit union?: Not much at present.
What could be improved about this bank / credit union?: Better, more reliable, customer service.
General comments: Smarten up, MAXA.
Review by Kevin — October 30, 2020 @ 12:23 pm
Customer service: Rated 3 / 5 stars
Account features:
Interest rates (consistency and amount): Rated 4 / 5 stars
Fees: Rated 5 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 3 / 5 stars
How long have you banked with them?: 15 years
Why do you bank with them?: better interest rate than the local credit union/banks
What do you like about this bank / credit union?: see above
What could be improved about this bank / credit union?: better customer service
General comments: I renewed a term deposit online and the customer service rep. didn't follow through. When I called back a few days later, the term hadn't been renewed. This has happened more than once. Many of the reps are careless at MAXA. Also, I got an email saying someone would phone me about a term coming due, but no one did. I waited for the call, which didn't come and lost a percentage of interest on an upcoming term as a result. Overall, my satisfaction with MAXA has declined in the past few years.
Review by Shirley Isaac — October 26, 2020 @ 10:49 am
Customer service: Rated 1 / 5 stars
Account features: Rated 1 / 5 stars
Interest rates (consistency and amount): Rated 1 / 5 stars
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: Approximately 10 years
Why do you bank with them?: At the time they had better interest rates than competitors
What do you like about this bank / credit union?: Nothing
What could be improved about this bank / credit union?: The biggest problem is the unreasonable fees
General comments: Yesterday I was trying to access my account online. I was wanting to download my monthly statement. For some reason, their system would not let me in. I called their Teleservice who was able to access the account. They said that the online access would be blocked for 24 hours. Okay, I said but I want a copy of my statement. Could you please just email it to me? they said they would for a fee of$5. I protested saying that I had $100,000 invested with them and they wanted a fee to email me my statement. Unthinkable! The Teleservice rep refused to budge so I asked to speak to her manager. I was told the manager was out to lunch. In the end I did not get my statement. Theses folks really need to ask themselves if a $5 fee is worth losing a customer. Today I am moving as much of my money as I can to another institution. (They have a huge fee for this as well). Live and learn.
Review by Rob — March 26, 2019 @ 4:38 pm
Customer service: Rated 1 / 5 stars
Account features: Rated 4 / 5 stars
Interest rates (consistency and amount): Rated 3 / 5 stars
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 1 / 5 stars
How long have you banked with them?: 4 years
Why do you bank with them?: I wont be anymore
What do you like about this bank / credit union?: nothing
What could be improved about this bank / credit union?: people at Maxa to be honest
General comments: maxa reps not well educated
Review by Alison Maclean — June 29, 2016 @ 4:30 pm
Customer service: Rated 5 / 5 stars
Account features: Rated 2 / 5 stars
Interest rates (consistency and amount): Rated 2 / 5 stars
Fees: Rated 1 / 5 stars
Interface (online, telephone, in-person, etc.): Rated 2 / 5 stars
How long have you banked with them?: 3 years
Why do you bank with them?: high interest
What do you like about this bank / credit union?: the high interest
What could be improved about this bank / credit union?: fees are not reasonable. the online banking does not exist.
General comments: Their interest has dropped significantly and I am about to move my money.
Review by Allan — July 17, 2013 @ 7:59 am