LBC Digital: Another online-only offering from Laurentian Bank group | Page 2 | LBC Digital | Discussion forum

Doug said

Pick your transit. What do you want your cheques to say, B2B Bank, or Laurentian Bank?

Either one is equally fine as they share the same banking system and online banking platform.

Cheers,
Doug  

Thank you for your feedback on this Doug!

Do you think it's worth opening another account? I don't want to open, transfer, and then see this 3.3% sinks down to 1.1% in couple weeks. Thoughts?

I just moved everything not in GIC to Simplii for the 2.8%.

Save2Retire@55 said
Do you think it's worth opening another account? I don't want to open, transfer, and then see this 3.3% sinks down to 1.1% in couple weeks. Thoughts?

I just moved everything not in GIC to Simplii for the 2.8%.  

If you run into issues when opening the account then don't frustrate yourself but if it goes smoothly you always have the option to transfer it all back to Simplii if they drop the rates and if they hold steady then you will come out ahead .
If enough people transferred their money from Simplii during their promotion they may have a look at the way they run it from the customer's perspective.

GR said
Laurentian Bank (LBC Digital) is not offering this product as a JOINT account, same as B2B, and both have no plans to do so.
I wonder if they would reconsider if many potential clients phone and request joint accounts, so let's try.  

I think they will, eventually. Joint accounts with all-digital account openings pose added technical coding challenges, both to the banking system and online banking platform. I suspect that's the reason why EQ Bank doesn't have joint accounts.

Hubert does, but the major banks have added online banking security protocols that are superior to Hubert's (i.e., anyone ever noticed your downloaded e-Statement does into a generic folder until who knows how long it's emptied?)

Joint accounts are only really a concern of the geriatric set. Even then, even if the bank requires probate, it's not a significant reason to avoid opening an account, I'd argue.

Cheers,
Doug

I just tried opening an HISA , and it failed. I phoned LBC, surprisingly zero wait time on phone, and they said they are updating the system till about midnight, and I should try again tomorrow.

Briguy said
I just tried opening an HISA , and it failed. I phoned LBC, surprisingly zero wait time on phone, and they said they are updating the system till about midnight, and I should try again tomorrow.  

Try it during business hours. B2B and LBC don't work properly after business hours.

canadian.100 said

Hate to tell you this, but B2B and LBC don't seem to work properly even during business hours.  

It is working fine for me during business hours.

Re B2b rate:
https://b2bbank.com/en/mybank/rates/hisa-rates

Yeah, re that joint accounts being mainly for the geriatric set comment was puzzling to me too. Seems to me I know a number of young couples who have joint accounts.

Doug said

Yes, but what I meant was it was less of a concern. Not a reason, really, to avoid opening an account. It's a knock against them, but a not barrier.

Cheers,
Doug  

I just tried again, just got a blank page when I got to the stage where it is verifying identity with Equifax. I'm getting ready to give up on this- they can't even automate an enrolment process. I know when I looked up B2B they have a horrible reputation for mortgages. I shouldn't have to take off work to use their web page LOL.

Edit- I called them, and they said I was set up with an account,even though it kept saying my application had failed and to call in, but my account was not yet linked to an online setup, so they would phone me back once they got tech support to link them.