Account opening experience with Hubert Financial | Hubert Financial | Discussion forum

I can add that I just recently, last week, set up a new link from Hubert to an FI which does not allow links from its end.
It was straightforward, did not require a cheque, was confirmed with microdeposit. It took a day or two to process.

Peter said
I just opened an account with Hubert Financial. It was a relatively pleasant and pain-free experience. I might go back and take some screenshots to document it better. It was not fully automated compared to my experiences with EQ Bank or Neo Financial, but this was also a chance for Hubert Financial to show that they're quite attentive and on the ball.

The steps were roughly as follows:

• Day 1: Filled out online application form
• Day 1: Received what looked to be a manually sent confirmation email asking me to submit details to link another bank account through their secure contact form
• Day 1: Received what looked to be a manually sent confirmation about my direct deposit details, with instructions to call them back once I've received their micro-deposit
• Day 4: Before I had a chance to call them, they called me asking if I'd received the micro-deposit (which I had)
• Day 4: Received an email with my account details and instructions on how to log in
• Day 4: I initiated my first deposit via an external bank transfer
• Day 5: The first deposit appeared in the Hubert Financial account
• Day 7: They automatically moved $5 of my first deposit to a Share account

The manual stuff:

• I actually had to fill in the online application form twice. After the first time, they emailed me to say that the "verbal code" I had entered didn't have enough characters. (They should have just built that validation into the form!) They asked me to make a completely new application. This only took a few minutes.
• When you connect a second external account, the micro-deposit process can be confirmed entirely online. But for the setup of the first external account, you have to submit the direct deposit info via a separate form and then talk to someone on the phone.
• It's weird that they have to do what sounds like a manual review of your account, so that when your first deposit arrives, they move it into the Share account.

Overall, those manual steps were not deterrents and I was happy with the process in general, the speed of the setup, and their customer service. The online interface looks like I can do everything else I need on my own.  

Wow, Peter, my mind is blown you had not had a Hubert account yet.

I agree with your thoughts, though. Hubert's account opening process may still require signing an application form and mailing it in, but I like that you don't have to take a selfie holding your photo ID. I eschew institutions that only have that process. Overall, it's a very slick, simple experience, and Hubert's customer experience is legendary even if they may not always be tops in terms of rates. 🙂

Cheers,
Doug

I joined Hubert back in July and have been very pleased with the service and ease of use.

At the end of the month I am going to cash out my laddered GIC at the 3 month mark and re-buy at the higher rate. I am very happy they have this option.

Also, I have a lot more than CDIC limits in my GIC but am fully content with the protection Manitoba provides, without limit.

Go Hubert!

Hubert looks awesome.

I check the website and they don't have a Chequing account, So I think their HISA is like a Checking account without a debit card or cheques.

I like that there is no need to send cheques or other IDs and I don't mind sending just one snail mail for the TFSA beneficiary.

I see there is an inactivity fee of $25 fee if there is less than $1000, which is not too bad.

Their 1-year quarterly term GIC is really great, as I can close and cash-in the account and reopen it in case of better GIC ( as we see month after month)

One question:
Do you know if there is a limit to Day-to-day Transactions for HISA and TFSA?

Just pull it out in a lump sum when you need it.

No fuss no muss

I made sure I had all the proper accounts linked

I started the process yesterday and today is already complete!!!
I am really impressed by it.

Similar to Peter, I followed his suggestion and these were my step:

Day 1: Filled out the online application form
Day 1: Received what looked to be a manually sent confirmation email asking me to submit details to link another bank account through their secure contact form
Day 1) Received what looked to be a manually sent confirmation about my direct deposit details, with instructions to call them back once I've received their micro-deposit
Day 2) I received the microtransaction on my other bank account and I tried the chat.
They were really polite but they told me to call the 1-855 number.
So I called and like less than 2 minutes the account was activated and I received the emails.
And I send my first deposit ( that includes the $5 for the membership).
Probably they will receive Tue or Wed.

Pretty satisfied with them, plus I can see the Saving is changed from 2.85% to 3% and the 1-year GIC from 4.40% to 4.50%.
Kudos

Rebelyouth said
Now I need to figure out how many GICs they allow.

I want to get the 1-year REDEEMABLE, but I want to ladder the amount, so in case I need some money, I will just take the money from one GIC and leave the others alone.

I think I can call them on Monday, but if already someone already doing that, please let me know.  

I’m fairly certain that there is no limit to the number of GICs you can open at Hubert.

Rebelyouth said
Now I need to figure out how many GICs they allow.

I want to get the 1-year REDEEMABLE, but I want to ladder the amount, so in case I need some money, I will just take the money from one GIC and leave the others alone.

I think I can call them on Monday, but if already someone already doing that, please let me know.  

No limit. I usually have 20-30 1-year GICs at the same time.
My total 1-year GICs numbers now are between 300 and 400. Maybe they have 999 GICs limit, don't know that.

I have RRSP, TFSA and regular GICs, laddered. Amounts from $10,000 to $50,000, nothing below $10,000.