Comments on: LBC Digital Review

By: Angie

Angie — Sat, 30 May 2020 00:59:12 +0000

In reply to Brian.

It’s not a scam—Google Laurentian Bank from Quebec! I opened both a HISC and a Chequing acct( for doing Interac eTransfer) back in late January.
Done both transfer money in/out to linked accts w/ no problem. Smooth process……….
The website seems to work better during normal office hours than in the evening/nightime. They r in the east coast.
No problem opening acct, answered all the Equifax credit bureau questions correctly!
I do use Firefox privacy screen as my browser. Hope this helps!

By: Brian

Brian — Tue, 26 May 2020 19:20:39 +0000

I (thought I) opened an account last week and they even sent me two very small deposits in my linked account for me to send back to them. I guess this is the method they use to link the accounts. I tried several times in the past few days to access the account and got a system down message each time. I called today and was told they required proof of my address and a copy of my driver’s licence but did not explain why since I already gave them all the information they asked for on the application. I wonder of this was a scam obtaining all my information without having to provide an account. I am very disappointed.

By: Atticus Fetch

Atticus Fetch — Sun, 12 Apr 2020 20:53:39 +0000

Signed up a “Digital” savings account 2 1/2 months ago on home computer. No issues. Now, usually login with iPhone home screen (web-page) icon with quick, safari mobile access. No app yet. Transfers, nominal 2-3 week-days (they say up to 5). Whiz-bang-boom, I’m done! Highest monthly interest returns I’ve seen in more than ten (10) years of non-promotional offerings. EQ Bank is your other option. LBC currently @ 2.25%. Moving ****** TFSA money to this account. That was only returning 0.4%. I’d rather pay the income tax on 5-6 times that return.

By: Brenda Gagnier

Brenda Gagnier — Fri, 27 Mar 2020 16:07:23 +0000

I opened my accounts (two HISAs and a chequing account) on Dec 29/19. I must have called them at least 4 times with issues. My last issue. An internal transfer of a sizeable amount of money from one HISA to another. I wanted it done on April 1/20. Instead she did it the day I called (March 17/20) but then it’s not going to be deposited into the other account until April 1/20. So I guess it’s going to hang in limbo until then. My concern……how about my interest. They guarantee that will be fine but when I asked how I can calculate it myself to ensure it’s right, they had no idea. If it wasn’t for the high interest, I’d be gone. At this point, if I have one more issue, I’m outa’ there.

By: Barry Choi

Barry Choi — Thu, 13 Feb 2020 00:04:39 +0000

In reply to chris barber. Chris, This is exactly what I expected from them. I can see them lowering the interest rate again later in the year.

By: chris barber

chris barber — Wed, 12 Feb 2020 20:44:30 +0000

just got an email saying they are lowering the rate on the high interest account I signed up for.I called them to ask why? They informed me that it is something they are allowed to do. A management decision. Typical “bait and switch”, it wont be long and their rate wont be worth switching to…

By: Nelly Medeiros

Nelly Medeiros — Mon, 03 Feb 2020 19:57:56 +0000

Please be aware that you are NOT ABLE TO
OPEN A JOINT ACCOUNT FOR A HISA. I find this to be frustrating. To close your account before 6 months a $25.00 fee is charged. I would hope they reconsider changing their policy.

By: Jean-Pierre

Jean-Pierre — Tue, 28 Jan 2020 00:06:23 +0000

Yesterday I had difficulty accessing the Digital Laurentian Bank of Canada (DLBC) website because of my Nord VPN IP address. Once I had disconnected my Nord VPN access I was able to access the DLBC web site and open a high interest saving account. In the process of opening this account I was offered to establish an interbank link with a chequing account I have at another bank for the purpose of transferring funds. Since I did not have the relevant information on hand I skipped this process and opened the account without this interbank link. Today with the assistance of the help desk agent I established an interbank link by accessing the high interest saving account I had just created. I was very pleased with the process and with the courtesy and efficiency of the help desk agent. Given that this is a new service I will limit my deposit amount to $100K.

By: George

George — Fri, 24 Jan 2020 23:38:42 +0000

I don’t know if I can trust lbc digital. I think their website can be hacked by a smart person. And their website goes down regularly. I’ll wait and see if this keeps on happening.

By: Raf

Raf — Sat, 04 Jan 2020 02:42:15 +0000

Using the Edge browser I had no issues registering, logging in, setting up an EFT ‘tunnel’ and moving savings here. Website seems very basic compared to other digital banks. CDIC insurance is very important here, the bank has had issues with bad mortgages, closing branches, laying off tellers, and a recent profit of only $47 million, 13% down from previous year. That’s low for a bank. My only concern would be a bank run in case of insolvency, hence the CDIC insurance being very important. That said, with a market dump inevitable I prefer 3.3% up to a 40% down.