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Motive questions from current Tangerine client

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Motive questions from current Tangerine client

October 5, 2024
11:55 am

AdrenalineTrade

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Forum Posts: 46

Member Since:
November 18, 2016

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Hi All,

I am currently on 5.25% with Tang until Nov 30, 2024. After that I am hoping to take advantage of the Motive 5.75% offer for 120 days.

I have never had an account with Motive and am curious how easy it is to set up, as well as how quickly and easily I can transfer a significant sum from Tang to Motive?

Please share your experiences if you don't mind.

TIA.

October 5, 2024
12:46 pm

Alexandre

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November 8, 2018

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I did open account with Motive in 2018, my info may be dated.

It took over two weeks to open an account, from start to finish. Coming from Tangerine, I was disappointed with slow speed and generally convoluted process. I must have been spoiled by Tangerine.

They sent me welcome email which outlined transfer limits. I will paste relevant part of it below, but these limits may have changed. Still, expect to see that type of email with this kind of info in it.

Me to Me Features:

Transfer to and from Motive account(s) with external bank account(s)
No fees
Personal accounts only (Savings or Chequing accounts only)
Link up to five 5 Canadian financial institutions
Outgoing limits of $150,000.00 per transaction (max $999,999.99 a rolling 24 hour window)
Incoming limits of $999,999.99 per transaction (a rolling 24 hour window)
Minimum limit of $10.00 per transaction
Canadian Financial Institutions only
CAD funds only
Business and US accounts excluded

Note: Transfers to/from RRSP & TFSA accounts are not available.

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