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Hubert Financial is a Canadian-based online bank that offers many of the same banking products that you’d find at a traditional financial institution, including savings accounts, credit cards, and mortgages. Thanks to the limited overhead fees associated with the lack of physical branches, clients of Hubert Financial can take advantage of savings on fees and higher rates on savings accounts.
A division of Access Credit Union, Hubert Financial boasts some of the best online deposit rates, along with an easy-to-use interface that makes banking simple and convenient.
Key Points
- Hubert Financial is an online bank that offers online savings and investment accounts.
- Hubert Financial is known for its high interest rates, allowing clients to build their wealth faster.
- Account types include high-interest savings accounts, TFSAs, RRSPs, RRIFs, and Qtrade Guided Portfolios.
Our Verdict
| Who is Hubert Financial best for? | Best for consumers who: – Are looking for high interest rates on account deposits – Are tech-savvy – Have basic financial needs |
| What we like about Hubert Financial | – Competitive Interest Rates – No Monthly Fees – No Minimum Deposits – Online Platform |
| What we don’t like about Hubert Financial | – No Physical Branches – Limited Financial Products |
What Financial Products Does Hubert Financial Offer?
Hubert Financial offers the following banking products:
High-Interest Bank Accounts
Each of these accounts requires no minimum balance, no monthly fee, and are guaranteed by the Deposit Guarantee Corporation of Manitoba:
- Happy Savings Account
- Tax-Free Savings Account (TFSA)
Retirement Savings Accounts
To help you live comfortably during retirement, saving during your working years is essential. Hubert Financial offers the following retirement savings accounts to help ensure you have enough to cover all expenses once you enter your retirement years:
- Registered Retirement Savings Plan (RRSP)
- Registered Retirement Income Fund (RRIF)
Term Accounts
Hubert Financial’s term deposits range from 1 to 5 years and can be registered or non-registered accounts. One-year terms are redeemable quarterly, and two-year to 5-year terms are non-redeemable. Term deposits require a $1,000 minimum balance for purchase.
Investment Accounts
Qtrade Guided Portfolios is available through Hubert Financial. This convenient digital investing service offers clients an affordable, professionally managed portfolio designed to suit investors’ financial goals and appetite for risk.
Qtrade Guided Portfolios is powered by Aviso Wealth Inc., which oversees billions of dollars worth of assets. Clients benefit from ongoing oversight and rebalancing by a team of experts and mobile apps to track investments.
How To Open An Account With Hubert Financial
Opening an account with Hubert Financial is easy. Just follow these simple steps:
Step 1: Apply Online
The application process should take no longer than a few minutes to complete.
Requirements To Open An Account
To open an account with Hubert Financial, you’ll need the following:
- Be a Canadian resident
- Be at least 18 years old
- Have an account from another financial institution in Canada
- Social Insurance Number (SIN)
- Photo ID
- Cell phone with a valid number
- Email address
Step 2: Application Review
Once you’ve submitted your application, it will be reviewed within one business day.
Step 3: Make An Initial Deposit
An initial deposit of $5 will be required for your membership share.
Step 4: Confirm Your Account
Once your direct deposit information is provided to you, your account will be activated and you can begin online banking.
What We Like About Hubert Financial
Hubert Financial offers several perks, including the following:
- Competitive Interest Rates. Hubert Financial offers high interest rates on savings accounts and term deposits. This helps maximize your returns on funds deposited within your accounts.
- No Fees. There are no monthly fees or minimum balance requirements, helping you build your savings without added expenses.
- Deposit Insurance. Deposits in accounts with Hubert Financial are insured by the Deposit Guarantee Corporation of Manitoba (DGCM).
- Convenient Online Platform. Easily access your account online anytime and anywhere.
What We Think You Should Watch Out For
Along with the perks that Hubert Financial offers are a couple of drawbacks to consider:
- No Physical Branches. If you prefer to deal with someone in-person, you won’t have the option to visit a physical branch, as Hubert Financial is strictly online.
- Limited Financial Products. Hubert Financial only offers a handful of bank accounts. Other account types, like chequing accounts and credit cards, are not available.
Is Hubert Financial Safe?
Yes, you can rest assured knowing that your deposits are protected when you open an account with Hubert Financial. As mentioned, deposits in accounts are insured by the DGCM.
Bottom Line
Hubert Financial makes banking convenient thanks to its online and mobile platforms. And with its high interest rates on savings accounts, you can make your money work for you and build wealth faster.
FAQs About Hubert Financial
Is Hubert Financial available on mobile?
Is Hubert Financial safe?
What are the available high-interest savings rates?
- High-interest savings accounts: 1.85%
- TFSAs, RRSPs, and RRIFs: 1.90%
