Motive Customer Service & lack thereof | Page 2 | Motive Financial | Discussion forum

Fogoguy said

Thank-you for that, Doug. Yes, you are correct, in that I am in fact retired. I was forced into early retirement (at age 42) after suffering a bad fall in the workplace way back in 2004, (resulting in an unfortunately permanent and life-altering spinal injury) which has kept me almost completely bedridden for the past 18+ years. I am sorry that I took your comment so seriously, and stupidly let it get under my skin. I'll blame it on the pain meds! No hard feelings, my friend.  

Oh my goodness! I'm sorry for your workplace injury. I can definitely appreciate that. I also suffered from a workplace injury six years ago. Fortunately, it did not result in a permanent disability preventing me from returning to work; it only resulted in relatively minor fractures to the base of my skull and my clavicle, as well as bruise on my brain. It did, however, force me to have an epiphany that resulted in me retraining and moving into a different field of work (from banking/self-storage and warehousing to libraries).

Cheers,
Doug

I'm neither retired, nor offloading chapter loads of text here, but I've been quite happy with Motive so far. YMMV.

Motive also takes a full week to respond to emails. I had planned to transfer more money into this bank but now I'm having second thoughts.

KamWest said
Accidentally picked motive instead of motus on my dropdown at LBC for a $25 transfer in.

Was trying to keep a dormant LBC account alive.

Was charged $45 NSF by motive which I think is a bit excessive. Was my mistake, had Zero funds in that account and I emailed them asking why the fee was so high. Got a canned response saying thats the fee, too bad.

I gave them a nice response saying yup, it will be a cold day in hades before I transfer any funds in.   

think $45 is the standard fee for NSF these days at most FIs.

savemoresaveoften said

think $45 is the standard fee for NSF these days at most FIs.  

$25 at LBC and they cancelled it for me

RetirEd said
Hmmm... What sort of transfer are we talking about? In the case of the usual linked-bank pre-authorized credit/debit at several institutions, I have always been assured when setting things up that there is no penalty if a draw is made on an account with insufficient funds. My most recent setup was with Oaken, but I may not have asked as I've done it many times previously. Nobody has ever tried to charge me such a fee. I wonder if this has changed over the years?

Or is this thread discussing wire transfer, E-mail transfer, Interac transfer or some other type?
RetirEd  

Technically speaking, bank-to-bank transfers are considered pre-authorized debit withdrawals. They're a special type of pre-authorized debit withdrawal, with limited recourse rights compared to others, but for the purpose of service charges, most, if not all, banks and credit unions classify all pre-authorized debits the same as cheques and subject to NSF fees. The fact that you have not been charged such a fee for these special type of pre-authorized debits is great, but by their own policy, they would be within their rights to charge you a fee if they so chose. In other words, always assume there's going to be an NSF fee if the funds are unavailable or not cleared (sometimes banks will only charge an NSF fee for non-available funds; where funds are unavailable due to there being a hold, they will simply not pay and return the withdrawal but not charge a fee). If you don't end up getting charged an NSF fee, then that's a 'bonus', if you will. 🙂

To be clear, the above refers to pre-authorized debits from one bank to another. If you have an automated transfer between your chequing and savings account at the same FI, then there would be no NSF fee. As well, if have a pre-authorized contribution set up on a regular frequency from your external bank account to a certain savings account at a certain FI, the bank where you hold the certain savings account may have in their automatic savings program terms and conditions a stipulation that says there will be no fee including no fee for returned transfers for regular transfers of a certain amount on a certain schedule.

Cheers,
Doug

I was told by three institutions that if a pre-authorized debit fails, it's called "rejected," not "NSF," and there's no charge. Gotta check that - if I ever get anyone to answer the phone! I wonder if things have changed?

RetirEd

RetirEd said
I was told by three institutions that if a pre-authorized debit fails, it's called "rejected," not "NSF," and there's no charge. Gotta check that - if I ever get anyone to answer the phone! I wonder if things have changed?

RetirEd  

Not sure how long it was when you were told there will be no charge. Given FI has been jacking up every possible fee on every possible type of transaction, I will be shocked if it is still free.
For example, my main bank will allow any NSF type transaction to go thru, in the tune of 5-digits figure easily. They are also not shy to charge me interests on the amount too ! So yes no NSF fixed fee so to speak....

Re NSF fee petition, that just is the absolute wrong focus. NSF is due to someone's own doing of either not knowing / or make a mistake when it comes to the balance in their own account. Definitely deserve to be charged a fee/penalty so they learn next time (hopefully). Being rich or poor has nothing to do with it.

Perhaps this is because I was asking about what happens to those whose accounts are overdrawn by a direct-deposit holder attempting to withdraw. That is, if one had direct deposit on an account, then the sender also has withdrawal rights, they say. I was concerned that an error or malicious attempt to withdraw would trigger huge fees - a good reason to not use direct deposit. (I don't whenever possible, and use an account at an institution holding no other funds of mine, always promptly emptied whenever a deposit is made.)

The institutions in question (all three) said such an attempt would fail and I would be charged nothing. Does this mean the fee would be imposed only on those on the other end?

RetirEd

RetirEd said
…
The institutions in question (all three) said such an attempt would fail and I would be charged nothing.…

You would be charged nothing eventually after you report the failed pre-authorized debit as unauthorized and the investigation confirms that.

In the meantime, you'll be charged the NSF fee because your financial institution doesn't know that the pre-authorized debit was not an authorized one.

Banks don't require personal banking clients to supply details of authorized debits or the bank will reject them when they come in. I've read that banks do require some businesses to upload the cheque numbers and cheque amounts for their high volume accounts first or have diminished rights to dispute the cheques.