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Privacy policy

Frequently asked questions

Questions about helping members

  • I want to make sure that I’m getting any emails motusbank sends about COVID-19. What should I do?
    Make sure that you have a current email address listed in your contact information.

    From online banking:
    1. Select “Settings”
    2. Scroll to Profile Setting to see your Contact Info
    3. Select the Edit button to update your Contact Info

    If you are registered for the mobile app we already have your email. If you haven’t signed up for online or mobile banking yet, simply call Member Services at 1-833-696-6887 and one of our representatives will be happy to help you register.

Questions about mortgages

  • Why is motusbank raising mortgage rates when the Bank of Canada just decreased rates?
    With interest rates frequently changing as a result of the COVID-19 pandemic and the early stage economic impacts, we understand that you may have questions about interest rates on our Mortgages, Loans, Lines of Credit, Savings accounts and GICs and how those affect you. Governments and financial institutions around the world, including the Bank of Canada, are working to find a balance that will allow for sustainability. When the Bank of Canada’s rates fluctuate, so do the rates of all financial institutions, including motusbank. 

    When we adjust lending rates, we do so in response to the overall rate environment, in the collective effort to achieve stability. We are actively and closely monitoring the economic and competitive environment and will continue to make changes in the best interests of our members and motusbank. 

    Fixed-rate mortgages 
    If you have a fixed-rate mortgage with motusbank, you will continue to get the rate you received when you signed up, for the length of your mortgage term. 

    Variable-rate mortgages 
    motusbank’s prime rate is the base rate for our Variable Rate Mortgages and Variable Rate Loans and it has recently decreased in accordance with the changes made by the Bank of Canada and other financial institutions. If you currently have a variable-rate mortgage with motusbank, your rate will change in response to changes we make to our variable mortgage rate. 

    As always, changes to our posted mortgage rates only apply to new mortgage applications and renewals, including refinancing.

Questions about CRA payments

  • Am I eligible to deposit CRA payments online?
    As long as you have filed at least one income tax return, and have been a motusbank member for at least 90 days, you can update your CRA direct deposit information through motusbank.
  • How can I get my CRA payments deposited directly into my account?
    It’s easy. Just sign in to online banking, and from the Account Summary screen, select the link that says "CRA Direct Deposit". You can find the option under 'Settings’ or via the "Set up a Direct Deposit" option located in the "Select an Action" menu from any Chequing or Savings account. Once you sign up for direct deposit it takes about 3 to 5 business days to complete the request. Remember, you must be a motusbank member for at least 90 days to use this feature.
  • What payments can I deposit online?
    The Canada Revenue Agency will deposit any refunds and payments you’re eligible for into your account, including:
    • Canada Emergency Response Benefit (CERB)
    • Income tax refund
    • Goods and services tax / Harmonized sales tax (GST/HST) credit
    • Canada child benefit
    • Canada workers benefit
    • Ontario trillium benefit
    • Canada Emergency Student Benefit (CESB)
  • How can I make sure my direct deposit information is updated with the CRA?
    If you have submitted your online request for CRA direct deposit through motusbank, and you want to know if your information has been updated, you can log in to your CRA My Account and check your deposit information on file. This typically takes between 3-5 business days to update after submitting your online request.

Questions about safety measures and fraud protection

  • Everything is so uncertain. Is it still safe to keep my money at motusbank?
    Yes. Your money is safe and motusbank is secure. As a regulated financial institution, deposits at motusbank are guaranteed up to $100,000 per separate deposit through CDIC (Canada Deposit Insurance Corporation). This coverage protects deposits in chequing and savings accounts, term money orders, bank drafts, funds in transit, and index-linked term deposits (principal portion only). Remember, motusbank is a fully owned subsidiary of Meridian, which currently has more than 300,000 members and $20 billion under management. So your money is in good hands!

    Read more about CDIC
  • What is motusbank doing about COVID-19 to help keep employees & members safe?
    We are monitoring the situation closely and following guidelines from government and public health authorities. As a digital bank, you will still be able to access all of the regular products and services you would require for your day-to-day banking. We’re always here if you need us, by phone at 1-833- 696-6887 or online at

    Keep checking this page for the latest information. We thank you for your patience as we work together though this difficult situation.
  • Is there an increased risk of fraud as a result of COVID-19?
    The risk of frauds and scams is ever-present and fraudsters always take advantage of any opportunity, particularly when people are in a vulnerable state, like now. You can help protect yourself by being continuously mindful of phishing scams, protecting and limiting the sharing of your personal information, and taking protective measures such as having an up-to-date operating system and anti-malware software.
  • Is my money safe from fraud?
    Our Fraud Management team is fully operational. We take the security of our members very seriously and we have a robust fraud-monitoring program in place to protect motusbank and our members.

If you have any questions, please reach out to us. You can call or email Member Services.

Call Member Services 1 (833) 696-6887
Email us