Phone Support Not Available | Motive Financial | Discussion forum

gicbits said
This is the only bank I know of that tells you no one is available and to leave a message when you call their 24 hour line.

This does not inspire confidence. It's concerning mostly because if a problem occurs, it could take a very long time to correct since they make it very difficult to reach them.  

Did you leave a message? How long did it take for them to call back?

I'll chime in on Motive. Three weeks ago, I decided to open an account with them. You do this online, as with other FIs. After a frustrating week of back and forth, I was rejected. When I was able to talk with a CSI, they were not able to tell me why. They "intimated" that it was a technicality, something like an error with my address or job, and that it was not due to a problem with Equifax...which is good, because suffice it to say, I haven't had a debt of any kind for three decades. You are not able to discuss this with them; they only tell you it's an entirely automated process that they can't adjust or work around...your only recourse is to apply again in six months. So they work hard to get your business with good rates to try to get your deposits, but reject you on some kind of technicality that they won't even reveal. In my case, they're losing the business of two other family members who were going to follow my lead. Interestingly, in reviews of Motive, I found that the exact same problem had been experienced by other would-be clients. Based on this, I my trust level is pretty low with them. They seem pretty Mickey Mouse.

Dean said
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Not to worry, Lifeonanisland ⬆ ... there's Lots of other choices.

To name but a few ... EQ, Oaken, Hubert, Peoples, etc.

'Caveat Emptor'

Dean

  

I'm a little embarrassed to admit that I already have accounts at three of the four. Maybe that's why I was rejected...

lifeonanisland said
… When I was able to talk with a CSI, they were not able to tell me why. They "intimated" that it was a technicality, something like an error with my address or job, and that it was not due to a problem with Equifax...which is good, because suffice it to say, I haven't had a debt of any kind for three decades. You are not able to discuss this with them; they only tell you it's an entirely automated process that they can't adjust or work around...your only recourse is to apply again in six months. …

I recommend that you retrieve your credit record from Equifax to confirm that there is nothing wrong.

For the credit file method to confirm identity, FINTRAC requires the financial institution to match the name, date of birth, and address on your signup with those on your credit file.

It also has to be obvious that the info on the credit file came from at least two sources, like two lenders.

Motive likely cannot discuss the details because your identity did not verify. Consequently, they don't know for sure who they are really talking with!

Norman1 said
I recommend that you retrieve your credit record from Equifax to confirm that there is nothing wrong.

For the credit file method to confirm identity, FINTRAC requires the financial institution to match the name, date of birth, and address on your signup with those on your credit file.

It also has to be obvious that the info on the credit file came from at least two sources, like two lenders.

Motive likely cannot discuss the details because your identity did not verify. Consequently, they don't know for sure who they are really talking with!  

Norman and JohnnyCash, I believe you're right. In fact, I think it could be as simple as this: when I applied, I had lived in my new house for about 22 months, but I just assumed it was close enough to two years and so answered yes to the question, "Have you lived in your current home for two years or more?" Regardless, here's my point: you would think that a CSI, or a manager that I elevated my query to, would somehow have the ability to work through the issue...isn't getting customers the main point here? Total inflexibility. I even offered to go into my local CWB branch, as they are the owners of Motive. No dice. So I concede I might have made a mistake, but where is the flexibility? I've recently opened accounts at Tangerine, Meridian, LDB, Oaken, EQ, etc. (it's always the hunt for high interest while maximizing CDIC coverage, isn't it?). Anyhow, appreciate your thoughts.

lifeonanisland said

… Regardless, here's my point: you would think that a CSI, or a manager that I elevated my query to, would somehow have the ability to work through the issue...isn't getting customers the main point here? Total inflexibility. I even offered to go into my local CWB branch, as they are the owners of Motive. No dice. …

Getting customers is not the goal for Motive. Only certain kinds of customers are the goal for Motive as well as other online banks.

A former Tangerine Bank CEO explained that approach to business.

Maybe Motive uses TransUnion? I haven't memorized this thread, so perhaps you have reason to believe they use Equifax.
I have found their info is not identical.

lifeonanisland said

Well, I'm pretty sure I'm the type of customer they want. Excellent track record, money to deposit -- and family members who would also like to do same. I finally got into Equifax to see my account. Absolutely nothing wrong with any of it, including personal contact information. Strangely, under the section "inquiries", there is no record of Motive making an inquiry. As for credit score....

So I'm going to stick to my original assessment...Mickey Mouse customer service at Motive.  

I went to the Equifax Canada site and try to see if there was a free way to track my credit history. But there seems to be only paid products. Could you please confirm whether there is no free way on Equifax to check my credit

Hello Norman. Thank you for your reply. It's too bad they don't let you get your credit report online. Anyway I was able to get my Equifax score through borowell.com