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Email this8:20 am
April 21, 2022
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Hmm...just had a look at their website, the Savvy Savings account details have yet to be updated with the changes. What struck me was the Cha Ching Chequing account seems to have disappeared, perhaps all part of the master plan?
1:52 pm
December 20, 2016
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JohnnyCash said
Hmm...just had a look at their website, the Savvy Savings account details have yet to be updated with the changes. What struck me was the Cha Ching Chequing account seems to have disappeared, perhaps all part of the master plan?
Savvy account details: https://www.motivefinancial.com/en/savvy-savings-account
Checking accounts shown on Rates Page: https://www.motivefinancial.com/en/rates
Stephen
3:30 pm
April 21, 2022
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Nehpets said
Savvy account details: https://www.motivefinancial.com/en/savvy-savings-account
Checking accounts shown on Rates Page: https://www.motivefinancial.com/en/rates
Stephen
Looks like the Cha Ching chequing account has been grandfathered too along with the regular Savings account. Anyone know what happens to the existing debit cards that are defaulted to the Cha Ching chequing account, will they be automatically reprogrammed to default to the Savvy Savings account?
4:31 pm
November 8, 2018
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JohnnyCash said
Looks like the Cha Ching chequing account has been grandfathered too along with the regular Savings account. Anyone know what happens to the existing debit cards that are defaulted to the Cha Ching chequing account, will they be automatically reprogrammed to default to the Savvy Savings account?
My Cha Ching checking account is still there, which should mean my existing Motive debit card is still linked to it.
5:43 pm
April 21, 2022
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Alexandre said
My Cha Ching checking account is still there, which should mean my existing Motive debit card is still linked to it.
Yeah, debit cards typically allow for two accounts to be assigned to it, one in position #1, often called chequing and the other #2 , savings. When you tap a card it is always debiting position #1. If you want to debit the account associated with #2 at a POS ( Point of Sale ), you need to manually select the savings key and enter a PIN.
9:33 am
January 12, 2019
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mustang said
My snail mail letter just arrived today. It is dated July 1
Dean said
Ditto ⬆
I wonder if this is all leading up to a 'New & Improved' Motive Savvy Savings Account ... with a Much Lower interest rate.
I wouldn't be surprised.
Dean
I received that Same notice via email 2day. Apparently, their Marketing Dept. felt a Duplicate notice was necessary ... LOL 
Now if they'd only clean up their Mess of a HickBilly Website. Especially those *&^%$# parts dealing with their GICs. They've been promising that for over a Year now, but so far ... NADA ❗ 
- Dean
" Live Long, Healthy ... And Prosper! "
1:32 pm
September 30, 2017
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I agreed with JohnnyCash post #23. I try to open new Motive Chequing Account after sign-on under Account Services, it is no longer available.
7:29 pm
September 28, 2023
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Got this in my email today:
Great news!
Now, when you use your Motive Savvy Savings® account as your everyday account, you'll notice some exciting new enhancements designed to improve your banking experience, including free unlimited transactions, free e-transfers and no ATM fees!*Here’s how the best savings account just got better:
[image of chart in post #1]Find all the ways to transfer funds easily to your Savvy Savings® account here. Connect your pay cheque to your Savvy account to earn more on every dollar, pay your bills through Savvy and send e-transfers whenever you need to for free.
Thank you for being a valued client at Motive Financial. We look forward to helping you grow your money faster.
Sincerely,
Tal Zisu
Head of Motive Financial
Gee, you could have saved some trees and postage by just sending us this rather than the letter 
With that wording, there is no doubt that they are in the boxing ring with the WS cash account now. Which is awesome, neither one can introduce fees or limitations without fear of folks churning over to the other.
Going to be really interesting to see what happens when National Bank gets approval and takes over CWB and Motive. They are a traditional fee-loving institution and they might look at us Savvy freeloaders as fee potential or unwanted baggage.
9:40 pm
December 12, 2009
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JohnnyCash said
Their regular Motive Savings account has disappeared and Is no longer available to new applications, those that already have it are grandfathered.
I suspect they realize they need to take it up a notch or two if they want to stay in the game. They've been pushing hard on the GIC's for several months now.
What's most interesting is this is happening after the announced National Bank acquisition. You would think if CWB were going to wind down the Motive division, why bother with these changes now.
This is likely spot on. CWB originally had two savings accounts, and their original Motive Savings account offered a lower interest rate but unlimited transactions.
At the end of the day, with only ~$500 million in deposits, Motive Financial is very small potatoes. Tangerine, Simplii, Wealthsimple, and the like aren't worried about them. 😉
Cheers,
Doug
6:54 pm
August 30, 2023
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Motive Savvy Savings® account drops to 3.60%. I guess it has just dropped as it shows on their website. But the account still has 4.10%, will probably change tomorrow.
6:40 pm
September 28, 2023
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Still showing 4.1% on my login as well today... my guess is that the rate will update on Monday. We all knew the shoe was going to drop, am impressed that the 4.1% lasted this long (they probably had lots of folks transferring in funds from other FIs that have fallen with the bank rate). If you know you don't need the funds for 4 months, their GIC special will give you an awesome rate through the fall (it technically needs to be new funds, but transferring out to a different FI and then right back in has worked for me in the past).
Neo is the lone warrior left in the 4% club on the HISA chart... wonder when their shoe will drop...
3:27 am
February 1, 2016
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Also if you can't get the special promotional rate, the regular 120 day GIC is 4.15% which is still pretty decent for short term.
10:31 pm
July 1, 2016
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zgic said
Motive Savvy Savings® account drops to 3.60%. I guess it has just dropped as it shows on their website. But the account still has 4.10%, will probably change tomorrow.
Under Rates (on their web site it says)
"Effective date: 16-Sep-2024" 🙂
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