Motus Bank Review
Comprehensive review and analysis of Motus Bank's digital banking services
Quick Facts
- Founded
- 2019
- Head Office
- Canada
- Active Customers
- 100,000+
- Total Funding
- Meridian Credit Union subsidiary
- Employees
- 200+
- App Store Rating
- 4.4/5
Pros & Cons
Pros
- Competitive rates
- No monthly fees
- Mortgage options
- Investment products
- Personal service
- Credit Union backing
Cons
- Limited branch access
- New to market
- Canada-only availability
- Basic features
Supported Countries
- Canada
Fees
- Account Maintenance Free
- Debit Card Free
- e-Transfers Free
- ATM Withdrawals Free at THE EXCHANGE Network
- Investment Platform No management fees
Overview
Motus Bank has provided digital banking services since 2019 as a subsidiary of Meridian Credit Union. Their platform combines online convenience with personalized service and competitive rates.
Key Features
Banking Services
- Chequing accounts
- Savings accounts
- Mortgages
- Investment products
- Credit cards
- Personal loans
Digital Features
- Online banking
- Mobile app
- e-Transfers
- Bill payments
- Mobile deposit
- Account management
Investment Options
- TFSAs
- RRSPs
- GICs
- Investment accounts
- Retirement planning
- Financial advice
Additional Services
- Mortgage services
- Personal loans
- Line of credit
- Insurance products
- Financial planning
- Educational resources
Security Features
- Bank-grade encryption
- Two-factor authentication
- Transaction monitoring
- Fraud detection
- Device management
- Secure login
Customer Support
- Personal advisors
- Phone support
- Email assistance
- Help center
- Educational resources
- Online guides
Verdict
Motus Bank excels in providing digital banking services with a personal touch. Their combination of competitive rates and personalized service makes them particularly valuable for users seeking online banking with traditional support.
While the platform is relatively new with limited branch access, it offers solid functionality for comprehensive banking needs. The main limitations are the Canada-only availability and basic feature set, but for Canadian users seeking digital banking with credit union backing, Motus Bank provides an excellent solution.