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Email this6:45 pm
December 1, 2016
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Edit by admin: This thread was split off from another discussion
mgsaver1 said
moneyhelp, why not just get the Hubert U.S. Savings? It's at 0.75%, way above Tangerine's:
https://www.happysavings.ca/rates.aspx
And there are no "locked in" savings account rates at Tangerine. If you want a locked in rate you'd need to buy a GIC.
@mgsaver1, thanks for the link, I'll check them out!
I learned that today about GIC's, and regardless of when I would have set up the account the rate would have dropped regardless, too bad.
I haven't heard of Hubert, are they well known? Reliable? and more importantly do they allow international wire transfers since that was the whole point of me opening the US tangerine account.
Anyway, thanks again I'll take a peak!
8:58 pm
October 21, 2013
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Hubert is a division of Sunova, a Manitoba credit union. I have had no problems with them and have belonged for about 3 years.
They do wire transfers to other US$ accounts for $22.50. You can also move your money back and forth between your US and Cdn $ accounts.
They offer advantages for US account:
1. much higher rate
2. their US$ deposits are fully guaranteed by the Deposit Guarantee Corporation of Manitoba. Accounts at banks like Tangerine and RBC are not guaranteed at all because CDIC does not insure US$ accounts.
As far as I know, no other financial institution has such a good offer for Us dollars.
What's not to like?
9:24 pm
December 1, 2016
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Loonie said
Hubert is a division of Sunova, a Manitoba credit union. I have had no problems with them and have belonged for about 3 years.
They do wire transfers to other US$ accounts for $22.50. You can also move your money back and forth between your US and Cdn $ accounts.
They offer advantages for US account:
1. much higher rate
2. their US$ deposits are fully guaranteed by the Deposit Guarantee Corporation of Manitoba. Accounts at banks like Tangerine and RBC are not guaranteed at all because CDIC does not insure US$ accounts.As far as I know, no other financial institution has such a good offer for Us dollars.
What's not to like?
Well then until Hubert makes it easier to get money out, I'll probably stick with an RBC US account since that is easiest to get access to my US funds immediately, or if I go with Tangerine as well.
Tangerine does not allow for wire transfers but they do accept US cheques from other financial institutions, so its just a matter of inconvenience to get started, but the waiting period if transferring US funds from Tangerine over to RBC is about 2-3 days when the 2 accounts are linked, so that's not bad.
I do like the fact that the US funds are fully insured since RBC and Tangerine are not CDIC insured, so thats a plus most definitely, but I need to know I can access the funds without hassle.
In addition, I'm confident with Manitoba, I also have a savings and TFSA with Manitoba's credit union Achieva Financial 
4:01 am
October 21, 2013
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Hubert has actually been moving forward with their US accounts. It's much easier to get US$ out of there now than it was a year ago! They do respond to member feedback, so I'd keep an eye on them for improvements.
I guess it depends on your purpose with the account. If you intend to be moving the money in and out frequently, this probably won't work for you.
8:31 am
September 5, 2013
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I have been moving US$ between TD and Hubert, and it is quick and easy via phone (like EFTs), and no charge at all. It normally takes two business days. Hubert has done a very good job with the service. The rate for US$ has been at 0.75 pa since. Very good rate indeed.
2:14 pm
October 21, 2013
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BrimleyChen, do you mean that you can move USD directly between TD and Hubert without having to convert currency and with no fee at either end?
Hubert's website doesn't make this option completely clear.
I gather the transfer can't be done online, only by phone. Is that correct?
6:26 pm
September 5, 2013
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@loonie : you're right. It is between Hubert US saving and TD borderless US chequing. You cannot do that online by yourself. Just call them and they will do that for you easily. Of course, they reuqire the transit and ac no, as all EFTs required.
4:13 pm
February 18, 2016
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>Well then until Hubert makes it easier to get money out,
What seems to be a problem??? You call or chat with them and they will move your US$ to and from in a breeze.
Do you expect to have on-line banking for US$? Why? We are not damn US of f A. This is still Canada.
12:45 am
April 2, 2015
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I too have been hesitant on opening an USD account with Hubert due to lack of an easy method to move between my TD Borderless. Currently parking the bulk of my USD with ING, but that 0.15% is pretty abysmal. If all it takes is a phone call to make a transfer out, I might consider setting an account as the rate of 0.75% is 400% better than Tangerine's.
7:25 pm
December 1, 2016
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SavingIsGood said
>Well then until Hubert makes it easier to get money out,
What seems to be a problem??? You call or chat with them and they will move your US$ to and from in a breeze.
Do you expect to have on-line banking for US$? Why? We are not damn US of f A. This is still Canada.
There is no problem, until recently, I hadn't heard of Hubert, and if you're okay with calling in, that's fine, but otherwise, since when has the internet and web banking become a USA vs Canada thing? Why wouldn't you expect to have access to your funds online and do web banking whether it be CAD or USD Funds? It is YOUR money.
12:56 pm
May 28, 2013
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I recently began moving funds from RBC US$ account to my Hubert US$.
Takes about one minute on the phone with an account rep. They already have my RBC US$ account info (Bank 003, Branch 00###, and Account No) so it's very quick and painless. NO COST.
Rep said they expect to have an online option (been waiting a couple of years) ready soon.
8:33 pm
December 1, 2016
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ValueTime said
I recently began moving funds from RBC US$ account to my Hubert US$.
Takes about one minute on the phone with an account rep. They already have my RBC US$ account info (Bank 003, Branch 00###, and Account No) so it's very quick and painless. NO COST.Rep said they expect to have an online option (been waiting a couple of years) ready soon.
I had emailed Hubert recently to ask questions, including when their online EFT option would be available, their answer was "first quarter of 2017". So that's good, once that happens, then I may switch over.
They were also kind to say, as you mentioned, they offered to do the EFT to and from my RBC US account for free, so that's nice
Happy Holidays!
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