motusbank Review: A New Option in Online Banking Aug 5th

The “Big Five” Canadian banks offer credit cards and include Royal Bank of Canada, Toronto Dominion Bank (TD Canada Trust), Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce (CIBC). Did you know that there are many other options?
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In recent years, names like Tangerine, Simplii, and EQ Bank have become synonymous with digital banking in Canada. Pretty soon, it looks as though another name may be added to the list. Launched in April 2019, it hasn’t taken very long for motusbank to make its mark in the world of online banking. A subsidiary of Ontario-based Meridian Credit Union, motusbank is a full-service digital bank already boasting a wide range of financial products and services for Canadians. In fact, the only province where motusbank isn’t yet doing business is Quebec.
motusbank Product Offering
Almost all of your banking needs can be served by motusbank. Like much of their competition, they offer a no-fee chequing account, a high-interest savings account, and GIC investment products. You can also apply for a mortgage, personal loan, or line of credit with motusbank. You can even get a student line of credit. Applications for these products are completed online, from the comfort of your living room. No need to make the trek into a brick and mortar bank branch…

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