Transactions and payments

If you had a motusbank No Fee Chequing account, your new Coast Capital Unlimited Chequing Account will continue to include unlimited Interac e-Transfers^®. You will need to be signed up for digital banking to send or receive e-Transfers with Coast Capital.

Your profile information, including recipients and auto-deposits set up with motusbank prior to October 15 have now been transferred over and are reflected in digital banking. We ask that you review your profile and auto-deposit set up to ensure all information is accurate – including the security details for each of your recipients.

Action required: Recipient security details

Coast Capital has an added feature that requires a security question and answer for all recipients regardless if they have auto-deposit set up or not. Prior to sending an e-Transfer, each of your recipients must have security question and answer fields completed. To do this:

1. Select Interac e-Transfers, then Manage Recipients 
2. Select the Edit icon next to the recipient
3. Ensure the Security details section is complete
4. Confirm changes

If the above steps aren’t complete, you will receive an error message: “Could not perform operation” and your e-Transfer will not be complete.

e-Transfer Auto Deposits

e-Transfer Auto-deposits sent from October 31st to November 2nd to migrated motusbank customers are not depositing to your Coast Capital account automatically. Interac is urgently working on a solution to cancel the auto-deposits and send the funds back to the senders.

Coast Capital, the sending financial institution or the sender are unable to cancel these auto-deposits.

Learn more about Interac e-Transfers^®

Wire transfers that are scheduled to be received in your motusbank account after October 31 will not be processed. You can start receiving wires with Coast Capital on November 1. There are also some service fee changes. At this time, outgoing wire transfers can only be requested at a Coast Capital branch.

Learn more about receiving wire transfers

Recurring bill payments are payments that you initiate in your account to pay a vendor on a set schedule. When you move to Coast Capital, these will be automatically set up for you on your Coast Capital account if you had them set up with motusbank. Be sure to review that these were carried over accurately.

Most bill vendors set up in your motusbank online account will transfer over to your Coast Capital profile. Be sure to review that these were carried over accurately.

There are some differences in available bill payment vendors between motusbank and Coast Capital. If one of your recipient vendors is unavailable on Coast Capital digital banking, there are a couple of options:

• Find an alternative payment method (write a personal cheque, set up preauthorized debit, use your credit card to set up preauthorized payments or send an e-Transfer or wire)
• Ask the vendor to get themselves added as a bill vendor on Coast Capital’s system. Your vendors can do that by emailing our partners at Central 1 at billers@central1.com with subject line ‘Biller Enrollment Inquiry’

Learn more about paying bills

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

If you have a motusbank No-Fee Chequing account, you’ll be moved to the Unlimited Chequing account which includes 1 free book of 25 single cheques.

Learn more about cheques and cheque services

motusbank will discontinue the Money Mover feature as of October 19.

Coast Capital offers a free external account transfer service which allows you to move money to your Coast Capital account as often as you like in digital banking.

Money can be transferred from Coast Capital to your accounts at another financial institution through Interac e-Transfer^®, digital cheque deposit or at an ATM.

Learn more about external account transfers