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Email this8:46 am
May 28, 2013
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I'm curious if there are others who use Hubert as a hub to manage all of their bank tranfers via the web. I used to use Ally for this purpose, but since their demise I was on the hunt for another institution which had similar means for linking to outside accounts. Hubert (and Ally, once upon a time) has a way of linking with any other institution's accounts which does not require time consuming sending of void cheques through the mail. Also, one can easily link to outside accounts which might not be chequing accounts. In short, I use Hubert to move money between nine different institutions, so that I can maximize interest at whichever place is offering the highest rate. Also, Hubert's insurable deposits are not limited to $100,000 as per CDIC, but is supposedly unlimited insurance coverage through Manitoba.
Are there other institutions which use the same linking methods as Hubert (and Ally)?
6:59 am
May 28, 2013
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Yes, I use Hubert as a hub. So far, they are the best that I have found. ING, for example, has a limit of 3 linked accounts; Hubert does not. With Hubert, it is quick and easy to link an account, no paperwork and snail mail involved. Plus, they actually pay you, by transferring a small amount of cash to the linked account.
I use TD to receive some deposits. TD does not put a hold on my funds. If I go from TD to ING, ING puts a hold on the funds and then after that I can transfer to Hubert. However, with Hubert, I can transfer directly from TD to Hubert, no 5 day delay. The only things I dont like about Hubert is the email they send you every time you log in (they could make it optional), and they don't offer account numbers that can be memorized by your Browser (again, it could be optional). I've contacted them about these enhancements, but they don't seem likely to budge.
6:04 pm
March 7, 2013
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Personally, I don't think it's a good policy to store your bank account numbers on your browser anyway, due to security risks.
2:28 pm
July 10, 2011
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Is probably the best for transfers to/from other accounts.. Easy to use.. Quick to set anything up.. Staff are very friendly and helpful.. Forced password changes every quarter.. They do more then most on the security front.. I'm a fan of Sunova/Hubert's offerings..
2:14 pm
March 20, 2014
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If I were to open an account with Hubert, would I be able to link directly to my RBC Direct Investing Account, or can I only link to checking accounts etc...
4:46 pm
December 23, 2011
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I have an iTRADE account and it appears there is an option (that I have not tried yet) to move money to/from it to my chequing or saving account. And I can do a bill payment (that does work for sure) from Coast Capital to my iTRADE account. Would RBC have similar?
7:35 pm
February 22, 2013
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gaspr said
If I were to open an account with Hubert, would I be able to link directly to my RBC Direct Investing Account, or can I only link to checking accounts etc...
Best bet is to call RBC DI and ask them.
Greg
1:42 pm
December 12, 2009
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kanaka said
I have an iTRADE account and it appears there is an option (that I have not tried yet) to move money to/from it to my chequing or saving account. And I can do a bill payment (that does work for sure) from Coast Capital to my iTRADE account. Would RBC have similar?
Indeed, it is possible to link a Hubert Financial account with Scotia iTRADE. Use their "Easy Transfer Authorization" form and attach a Hubert Financial VOID cheque form (they'll e-mail you one for free in secure, password-protected PDF form that is in full colour and bears a branch domicile/teller stamp - or they can mail you an original one, which ING DIRECT Canada required). There's no limit to the number of external bank accounts one can have linked to Scotia iTRADE (I have two Tangerine accounts, an Implicity Financial account, a Hubert Financial account and a Bank of Nova Scotia savings account).
The advantage to "funding" your Scotia iTRADE account via a "linked" bank account is when you request a transfer in, the funds (up to $5000) are immediately available for trading that same second. You'll have to wait 7-10 business days to withdraw those funds to another bank account or to have access to the rest for trading right away. This is a "per day" limit, not a "weekly" cumulative limit, meaning you could transfer in $5000 per day and have instant access for trading purposes. The EFT debit out of your external bank account is processed either 1-2 days later, depending when you do the transfer. As well, you can also e-mail Scotia iTRADE a screenshot of your external bank account's transaction history to release the hold on the remainder of the funds early.
The advantage to "funding" a Scotia iTRADE account via the online bill payment method is you get access to all of the funds more quickly (though not instantly) once Scotia iTRADE receives and processes the incoming bill payment (I'm guessing 2-3 business days). Plus, you don't need to send in an "Easy Transfer" form and Direct Deposit Form or VOID cheque.
As well, if you have a Scotiabank Money Master or Power Savings account, since transfers to a Scotia iTRADE account are free and instantaneous, you can effectively deposit money to that account at a Scotiabank ABM and, up to your available "cash back" limit (anywhere from ($200 to $2000 or maybe even $5000 per day), instantly transfer that money to Scotia iTRADE and then instantly transfer it out to your other "linked" external account.
I assume RBC Direct Investing works the same way - basically, just confirm they'll accept either a bank authorization letter, Direct Deposit Form, original bank statement or VOID cheque as proof of account ownership. If they will, you're off to the races! 
Cheers,
Doug
1:07 pm
February 14, 2014
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I've seen it mentioned that Hubert has no limit to the number of linked accounts, but I found this just now in their FAQ:
https://www.happysavings.ca/frequent-asked-questions.aspx
You can link up to 30 external accounts but both active and deleted accounts are included in this limit.
9:58 pm
October 21, 2013
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In the unlikely event that you found more than 30 accounts worth linking to, maybe you could just close down your Hubert account and start again with a clean slate.
7:15 pm
December 12, 2009
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RicksBank said
I've seen it mentioned that Hubert has no limit to the number of linked accounts, but I found this just now in their FAQ:
https://www.happysavings.ca/frequent-asked-questions.aspx
You can link up to 30 external accounts but both active and deleted accounts are included in this limit.
It's important to note that because self-directed investing accounts are essentially "nominee" accounts held in "book entry" form, you can't directly link them to any of the online savings account providers at their online banking sites. That said, you can link your online savings accounts to Scotia iTRADE - just mail in an "Easy Transfer" form and attach either a VOID cheque, online bank statement or even a Direct Deposit Form. They're pretty liberal. 
I'd be curious to know if RBC Direct Investing allows for free self-to-self EFT transfers between your RBC DI account and other bank accounts, though? I note they don't specifically advertise it in their Statement of Disclosure, which is really the only hold up I'd have to going with them.
Cheers,
Doug
9:04 am
May 28, 2013
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I use RBC DI. When I want to move money from it to elsewhere, I move it first from my RBC DI margin account to my RBC chequing account, which is linked to my Hubert account. From Hubert it can go to its final destination. Sure it takes a couple more days, so perhaps not so convenient for a situation which requires a rapid transfer. But at least it gets my money out of RBC DI when needed.
5:56 pm
June 24, 2014
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Now Tangerine is doing the same way as Ally, Hubert to add external bank accounts. Drawback is that Tangerine allows only 3 external accounts. I wrote to them to request more. Here is their response:
Hello James,
We appreciate your suggestions about being allowed more than 3 links, and your email has been forwarded to the appropriate department for review.
We're always looking for ways to make banking with us even better, and it's thanks to Clients like you that we’ve been able to create better and better Client experiences.
If you have any questions, please don’t hesitate to call us at 1-888-464-3232. We're open 24 hours a day, 7 days a week.
Thanks for your email,
Client Services
11:31 am
October 20, 2014
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I read all the posts above regarding using Hubert as a hub and I would like to get more details. Currently I have accounts with CIBC, Tangerine and Canadian Tire banks. Chequing account is with CIBC and savings for others. If I want to transfer money from Tangerine to CT (or vice versa) then I need to transfer back to CIBC. If I open Hubert as a new saving account then can I link Tangerine and CT to it without a chequing account and bypassing CIBC? Any advice would be greatly appreciated. Thanks.
11:56 am
October 21, 2013
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I think you have all the info. You should just go ahead and set it up and try it out and see how you like it.
Be aware that Manitoba credit unions like Hubert are not covered by CDIC insurance, but they are covered by Manitoba Deposit Corporation. The rules are a bit different. Most of us seem to feel that the MB protection is adequate, but you will see some discussion of that elsewhere on the forum.
Also, Hubert is strictly online. You can't do anything by phone. I find this a bit annoying, but that's their business model. You will find Hubert very "no-frills" compared to Tangerine, but they pay much better interest on savings accounts.
12:46 pm
June 24, 2014
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Rose said
I read all the posts above regarding using Hubert as a hub and I would like to get more details. Currently I have accounts with CIBC, Tangerine and Canadian Tire banks. Chequing account is with CIBC and savings for others. If I want to transfer money from Tangerine to CT (or vice versa) then I need to transfer back to CIBC. If I open Hubert as a new saving account then can I link Tangerine and CT to it without a chequing account and bypassing CIBC? Any advice would be greatly appreciated. Thanks.
In order to open a Hubert account, you need to provide them a cheque. But after the account is open, you may add Tangerine and CT, then delete CIBC chequing. (To be honest, I did not quite understand your requirement.)
The following is copied from Hubert website:
To open a Hubert account you must:
* be at least 18 years old
* have an account and a personalized cheque from another Canadian financial institution
* have a valid Social Insurance Number (SIN)
* have a valid email address
* agree to invest in a $5 (refundable) share
Please remember, we currently cannot offer Hubert products and services to residents of Quebec.
4:35 am
August 4, 2010
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Rose - you should be able to add the Canadian Tire account as an "external account" in Tangerine. Then you could directly transfer from Tangerine to CT, and also "pull" from CT using Tangerine to transfer back. No need for CIBC or any other third bank in the middle.
Is there a reason you have both Tangerine and CT? CT's rates are only marginally above Tangerine, so if you are using it for a higher-rate place between Tangerine bonus periods or something, you might want to look at a better alternative. I've used Hubert and Peoples Trust myself, and there are others. Hubert, like Tangerine, lets you set up external accounts just by entering the account information - they transfer a few pennies to the account and ask you to confirm the amount.
4:34 pm
October 20, 2014
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Sorry for not making my question clear earlier so it caused some confusions among readers. I opened an account with ING (Tangerine) along time ago and linked it with my chequing account (CIBC) and they requested a cheque. I never knew I could link it with other online accounts so I can transfer money directly between Tangerine and others, in my case is CT.
Now I want to open account with Hubert (since they seem to pay better rates) and close the CT account. That's why I asked the question whether I could transfer money directly between Hubert and other online accounts. I believe NorthernRaven understood my question and answered it.
Thank you to all who added your comments. I now have enough info to go ahead and open an account with Hubert.
Rose
6:07 pm
February 16, 2013
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Hi Rose,
I concur that Hubert is pretty easy to set up and use. The only caution I have for you is that if you use them as a "hub" (meaning transfer in and then transfer out), they generally have a 5 day hold on your funds. I recently used them to pull funds from Canadian Direct Financial and then transfer to Tangerine to take advantage of Tangerine's short term bonus rates but had to wait 5 days before I could move my money out of Hubert.
Good luck!
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