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What you need to know

Chequing account holders will move to the Coast Capital Unlimited Chequing Account which offers unlimited day-to-day transactions1 including free e-Transfers®, plus free access to ID Assist® — Online identity theft protection (value $96/year). 

  • All your pre-authorized payments and direct deposits such as payroll will automatically be directed to your Coast Capital accounts(s). There is no action you need to take to reset these. Your motusbank transit number will continue to be linked to your accounts.

  • Any cheques written on your motusbank account prior to migration can still be cashed after migration and the funds will be drawn on your Coast Capital account

  • Coast Capital’s Hold Funds Policy applies to funds deposited into your account. The terms of Coast Capital’s Hold Funds Policy are materially identical to motubank’s Hold Funds Policy other than that Coast Capital’s Policy does not apply an 8 business day hold on accounts opened for 90 days or less.

  • Any accrued interest on your motusbank chequing or savings account up until October 31 will be paid into your motusbank account. Your motusbank balances will be moved to Coast Capital on November 1.

  • If your motusbank account had overdraft protection, overdraft protection will be applied to the Coast Capital Unlimited Chequing Account.

  • Included with your new Unlimited Chequing Account is ID Assist®. You can expect to receive an email in October with instructions to sign up for this free service. 

  • To monitor your finances and avoid paying unnecessary fees, you’ll automatically be notified if your chequing or savings account balance falls below $100 or any amount you indicate to us. Unfortunately, any alert preferences you had with motusbank will not transition to your new account. You can change your preferences anytime in digital banking. Learn more about alerts and notifications.

  • You will receive two 2025 T5s for earned interest exceeding $50:

    • motusbank will provide a T5 applicable between Jan 1 to Oct 31; and

    • Coast Capital will provide a T5 applicable between Nov 1 to Dec 31

  • Your Canada Deposit Insurance Corporation (CDIC) coverage remains the same with Coast Capital. If you’re already a Coast Capital member, and your balance will exceed deposit insurance eligibility limits when your accounts are moved, contact us or visit cdic.ca for more information.

  • If the Unlimited Chequing Account isn’t right for you, we can help you choose the right account on or after November 1, including our Elevate Chequing Account which could potentially help you get paid more. Explore our chequing accounts.  

What’s changing about your account

Feature motusbank No-Fee Chequing Account Coast Capital Unlimited Chequing Account
Monthly fee N/A $8.50
will be rebated for 12 months, until October 31, 2026
Unlimited day-to-day transactions1 line art cirlce with checkmark in the center line art cirlce with checkmark in the center
Free book of 25 cheques line art cirlce with checkmark in the center line art cirlce with checkmark in the center
Free access to ID Assist® - Online identity theft protection (value $96) 
(For one account holder) N/A line art cirlce with checkmark in the center
Overdraft Protection (ODP)
  • Interest rate 21.0% per annum  
  • Overdraft handling fee $5.002 
 line art cirlce with checkmark in the center line art cirlce with checkmark in the center
Other fees  Learn about our service fee changes
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Don't forget

Your motusbank account transaction history will not be migrated to Coast Capital. Please download any required transaction history through motusbank online banking — as far back as you may need — prior to migration.

If you use cheque books, you’ll need to order new cheque books in digital banking, on or after November 1. 

Advanced identity protection with ID Assist®.

Included with our Unlimited Chequing Account, members get free access to identity theft protection and 24/7 dark web monitoring from ID Assist (Value $96/year).

Learn more

Advanced identity protection with ID Assist®.

Included with our Unlimited Chequing Account, members get free access to identity theft protection and 24/7 dark web monitoring from ID Assist (Value $96/year).

Learn more
CDIC Deposit ProtectionCDIC Deposit Protection

Coast Capital Savings Federal Credit Union is a member of the Canada Deposit Insurance Corporation (CDIC). More CDIC information

Only deposits payable in Canada are eligible to be insured under the Canada Deposit Insurance Corporation Act.

Want to compare our accounts with accounts at other financial institutions? Use the Financial Consumer Agency of Canada Account Selector Tool

1. Transactions include cheques drawn on the account, Coast Capital® and THE EXCHANGE® Network ATM withdrawals, Interac® Direct Payment, pre-authorized payments, bill payments, transfers (between Coast Capital accounts), and withdrawals (in-branch/self serve). Deposits and electronic transfers (between Coast Capital accounts) performed via Coast Capital ® ATM, Coast-by-Phone®, and Coast Capital digital banking are free & unlimited.

2. This fee will apply each month only if you make a transaction that either puts you into your overdraft or increases your overdraft balance. Subsequent increases in your overdraft balance for that particular monthly statement period will not incur additional usage fee charges.

ID Assist®, Sigma Loyalty Group Inc. and all associated marks and logos are trademarks owned or used under license.