The IT Nerd

Meridian, Ontario’s largest credit union, and the third largest in Canada, would like you to meet motusbank − a full-service digital bank − that combines a full retail product line with friendly and professional customer service, to serve the needs of all Canadians.  motusbank is, quite simply, a new movement in banking.

Meridian’s new subsidiary, motusbank, has received the official go-ahead from the Office of the Superintendent of Financial Institutions (OSFI). Canada’s new digital bank will open for business this spring, but Canadians can take a sneak peek now.

motusbank is different from other digital banks. Like Meridian, motusbank customers, referred to as members, will benefit from better pricing and services because there are no shareholders expecting quarterly returns. Digital, but not impersonal, motusbank promises to deliver superior member service regardless of communication channel. Members will also have a say on ideas for new products and features using tools for feedback to help inform the continuous evolution of motusbank offerings.

Digitally savvy Canadians can do all of their banking online and on their mobile devices with easy access to no-fee savings and chequing accounts, loans and lines of credit, investments − even mortgages − and more. In fact, motusbank will offer Canadians the most advanced and comprehensive digital mortgage platform in Canada.  In addition to offering full digital capabilities, motusbank will provide full member support through its contact centre − with real people − and access to one of Canada’s largest no-fee ATM networks.

motusbank to celebrate launch with special mortgage offer for members

The word motus literally means movement or motion and represents a new movement in banking to help progress the lives of motusbank members. So, with the belief that every Canadian deserves a shot at owning a home, motusbank will launch with an incredibly low mortgage rate, exclusively for new motusbank members.

Canadians are invited to visit meetmotusbank.ca. They can stay connected with news about the motusbank Spring launch date and be the first to take advantage of our special launch mortgage offer. Follow @motusbank on Twitter and Instagram, Facebook and Linked In.

In a victory for price conscious consumers, Meridian has announced the pilot launch of ‘Price Drop’ – a free service that automates the traditionally time-consuming process of price matching, promising to put real dollars back in the pockets of thousands of Members.

While 75 of the top retail chains in Canada all offer price matching, research shows that only between five and eight per cent of shoppers actually take advantage of these price matching policies. The biggest reasons for those low numbers? Well, it comes down to the time and effort typically involved in price matching, along with a general lack of awareness of lower prices being offered subsequent to a purchase.

With Price Drop, Meridian has automated the process. After making your purchase, either in-store or online, simply snap a photo of your receipt using the Meridian mobile app or submit your receipt by email. Meridian will then search for price drops on any of the items you’ve purchased. If Meridian finds a better price, we’ll notify you by email or via an in-app notification and automatically claim the refund or share the proof you need to claim the difference in cost from the retailer.

Price Drop is the first of its kind to be offered by a Canadian financial institution. It is free-of-charge for Meridian Members and there is no limit to the number of receipts that can be submitted or refunds received.

Meridian partnered with Winnipeg-based fintech company Pricerazzi in order to bring Price Drop to its Members. In a recent survey of 1,500 Meridian Members, 82 per cent said they’d be interested in trying a price matching service. The Price Drop pilot launched in early November with Meridian employees and select Members. The service is expected to launch in the first quarter of 2019.

To see Price Drop in action, or to get on the waiting list for when it goes live, visit www.price-drop.ca. You can also download the Meridian app from the Apple App Store or Google Play.