Log In
Register
Home
Topic RSS
Facebook
Twitter
Email this5:23 am
July 27, 2020
Offline
Update: both the Savvy Savings and TFSA rates have now decreased from 2.05% to 1.75%
I just logged into Motive and it appears there's been a rate change for non TFSA Savvy Savings accounts. Down to 1.75%. I have both TFSA and non TFSA with them and my TFSA still shows 2.05%. Unfortunately it looks like like their systems are not integrated (yet, if ever) as the public Rates page linked from the home page of the website hasn't been updated yet.
Sorry my 1st post had to be a downer. I've been a frequent visitor and I appreciate everyone who contributes here.
7:10 am
October 22, 2015
Offline
So I just move a pile of money over there yesterday, now they have dropped the Savvy savings to 1.75%. 2.05% is GONE, BABY, GONE. No warning, no email advising of the change.
I am assuming EQ is going to drop as well so I might as well just leave it here unless anyone has any thoughts?
7:22 am
July 9, 2020
Offline
The rate drop for Motive Savvy-Savings to 1.75% shows on my account, but they haven't updated their rate info yet at https://www.motivefinancial.com/en/rates.
I had phoned Tangerine previously and negotiated 1.8% until early December but only on the unregistered savings, not TFSA savings.
7:28 am
November 8, 2018
Offline
LK said
The rate drop for Motive Savvy-Savings to 1.75% shows on my account, but they haven't updated their rate info yet at https://www.motivefinancial.com/en/rates.
Sad, but true. I see it, too. 1.75% it is.
They didn't even bother to send a courtesy email notifying of rate change.
7:33 am
May 15, 2007
Offline
Within my account, the TFSA now shows as 1.75% as well.
7:48 am
July 27, 2020
Offline
For now, my TFSA has been spared from the rate cut. (Could it be that they do all the rate changes manually, and they just haven't got to me yet?)
8:19 am
July 9, 2020
Offline
They've just updated their website. 1.75% for both Savvy Savings and TFSA Savings.
8:21 am
July 27, 2020
Offline
Weirdness over at Motive today. Public "rates" page now shows 1.75% for both TFSA and non-registered Savvy Savings, so it appears it's a universal rate cut after all. Yet, my accounts online show TFSA still at 2.05%. When I toggle back and forth between Savvy TFSA and Savvy non-TFSA accounts, the rate changes. I suspect this is only temporary...
I guess if doing things this way helps them keep interest rates high, I shouldn't complain. Just doesn't make sense that it wouldn't be an automated process.
8:46 am
April 6, 2013
Offline
Could be a web browser caching issue. I think it was Alterna Bank who recommended that one do a manual refresh on their rate page to ensure one is seeing the latest version and not some cached version of it.
Try logging out, clearing the browser cache or starting a new browser session in "InPrivate" or "Incognito" mode, and logging in again.
9:19 am
January 12, 2019
Offline
WestCentral said
. . .
Sorry my 1st post had to be a downer. I've been a frequent visitor and I appreciate everyone who contributes here.
Welcome to the CHISBA Site, WestCentral ❗
Buckle up, and enjoy the ride. 
- Dean
.
P.S.
EQ & Bridgewater are the only ones left now with SA's @ (or above) 2%.
It's just a matter of time I'm sure, and they'll drop their rates too.
Who knows ... it might even happen this week.
" Live Long, Healthy ... And Prosper! "
1:13 pm
February 17, 2013
Offline
Bummer...just double checked....HISA shows 1.75, TFSA still shows 2.05 - for now.
7:58 pm
July 27, 2020
Offline
It's official. Both my regular Savings and TFSA Account now shows 1.750%
8:54 am
September 18, 2018
Offline
Would not open a account at Motive because only allowed two withdrawals when not to your own account for free then $5.00 fee each transfer.
That is how they make up for a higher rate.
Bridgewater Bank does the samething except only allowed one transfer then $5.00 fee.
Interest rate is no big deal .Rather go to other places with unlimited transactions.
Transfer fee from a big bank is comparable .Plus unlimited if you have a chequing account.
9:18 am
December 20, 2016
Offline
Good said
Would not open a account at Motive because only allowed two withdrawals when not to your own account for free then $5.00 fee each transfer. .......
Yes, but transfers between accounts incurs no fee, so you can open a Cha-Ching checking account, transfer funds for free to to the checking account and make a mobile deposit with the check to the external FI, subject, of course to the limits to mobile deposits by the external FI.
Other current options might be Hubert (same HISA rate with no limits on EFT) or Peoples Group, currently paying 1.8% on HISA and no limits or charges for EFT.
Are Bridgewater accounts are only available to residents of Alberta?
Stephen
9:27 am
January 9, 2011
Offline
Good said
Would not open a account at Motive because only allowed two withdrawals when not to your own account for free then $5.00 fee each transfer.That is how they make up for a higher rate.
Bridgewater Bank does the samething except only allowed one transfer then $5.00 fee.
Interest rate is no big deal .Rather go to other places with unlimited transactions.
Transfer fee from a big bank is comparable .Plus unlimited if you have a chequing account.
With one extra click, there are unlimited withdrawals, if you have both a savings and savvy savings. A silly setup, I know.
Savvy Savings - " Transfers between your Motive™ accounts Free"
Savings - " Monthly withdrawals* included Unlimited
"Keep your stick on the ice. Remember, I'm pulling for you. We're all in this together." - Red Green
10:21 am
December 20, 2019
Offline
From the 2 chequing accounts only the Cha-Ching Chequing Account has free outgoing e-Transfer so if you use that feature a lot it's the better chequing account. Unfortunately it also has a lower interest rate than the regular chequing account but that is irrelevant to me because I keep minimal funds in chequing.
Ultimately I think the Cha-Ching Chequing Account is the better choice if you want all free transactions.
4:17 pm
February 17, 2013
Offline
KamWest said
From the 2 chequing accounts only the Cha-Ching Chequing Account has free outgoing e-Transfer so if you use that feature a lot it's the better chequing account. Unfortunately it also has a lower interest rate than the regular chequing account but that is irrelevant to me because I keep minimal funds in chequing.
Same...close to zero as I can keep it the chequing. Not pleased they discontinued overdraft protection. I've done 2 e-transfers so I guess I'm down $2.00
Just logged in today to check rates and my TFSA still shows 2.05%. Yes...I cleared my cache.
4:38 pm
November 8, 2018
Offline
Their Android app, Rates section, still shows 2.05% for TFSA and Savvy Savings accounts. Looks like it'll take some time before they'll update their rates everywhere.
3:04 pm
August 28, 2019
Offline
I would not be surprised if EQ drops their rate as well. My 2.8% promo with Tangerine expires on August 31 🙁
Adam
5:04 pm
December 20, 2019
Offline
Just noticed they are at 1.25% now down from 1.55% at end of February
Good point is there is still no cap on this account.
Laurentian and B2B are now both better at 1.4% but both with 500k caps.
Canadian Tire at 1.8% is still the highest and I believe no cap.
Surprisingly the 1% at motus is starting to look competitive as other accounts dwindle to 1.25%
I won't even talk about Simplii at the shocking 0.10% because even a Meridian account beats it at 0.45%.
Talking about Meridian, it is one of the few business accounts that pays 0.50% interest on the business savings account which is higher than the personal savings account at 0.45%
Please write your comments in the forum.