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What you need to know

motusbank members with a non-registered High-Interest Savings Account will move to the Coast Capital High-Interest Savings Account(HISA). To continue to give you value on your savings, you’ll keep the same interest rate on account balances moved from motusbank for 12 months until October 31, 2026. Any transaction1 fees associated with your account will also be waived until October 31, 2026.

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

  • 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 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.  

  • To monitor your finances and avoid paying unnecessary fees, you’ll automatically be notified if your 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 HISA isn’t right for you, we can help you choose the right account on or after November 1. Explore our Everyday Banking accounts.

What’s changing about your account

When your motusbank non-registered High Interest Savings Account moves to Coast Capital, the terms and conditions of your current motusbank account will remain materially identical, except for the following changes: 

Feature motusbank non-registered
High-Interest Savings Account		 Coast Capital High-Interest Savings Account
Unlimited debits and withdrawals line art cirlce with checkmark in the center line art cirlce with checkmark in the center

Transaction1 fees will be waived for 12 months 
Other fees  Learn about our service fee changes
Line art speech bubble with exclamation mark inside

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.

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 Coast Capital ® and THE EXCHANGE® Network ATM withdrawals, Interac® Direct Payment, preauthorized payments, in branch transfers (between Coast Capital accounts), bill payments 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.