2025: Pros, Cons, and Everything in Between
Hubert Financial is a Canadian online-only financial institution based in Manitoba. Operating as a division of Sunova Credit Union Hubet, it offers a range of banking products and services tailored for the digital age.
Overview of Hubert Financial
Established in 2010, Hubert Financial has positioned itself as a competitive player in the online banking sector. By eliminating physical branches, it reduces overhead costs and passes these savings on to customers through higher interest rates and low-fee banking solutions. As a division of Sunova Credit Union, which merged with Access Credit Union in 2022, Hubert benefits from the stability and resources of one of Canada’s prominent credit unions. citeturn0search4
Product Offerings
- High-Interest Savings Accounts (HISA):
- Happy Savings Account: Offers a competitive interest rate with no monthly fees or minimum balance requirements. Interest is calculated daily and paid monthly. citeturn0search1
- Tax-Free Savings Account (TFSA): Provides tax-free interest earnings, adhering to Canada’s TFSA regulations. Similar benefits as the Happy Savings Account, with the added advantage of tax-free growth.
- Term Deposits (GICs):
- Available in terms ranging from 1 to 5 years.
- A minimum deposit of $1,000 is required.
- The 1-year term is redeemable quarterly, offering flexibility for those seeking shorter investment periods KHUYẾN MÃI HUBET. citeturn0search1
- U.S. Dollar Savings Account:
- Allows customers to save in U.S. dollars, earning interest without monthly fees or minimum balance requirements.
- Registered Accounts:
- RRSP and RRIF Accounts: Designed for retirement savings, these accounts offer competitive interest rates with no monthly fees.
- Credit Cards:
- In partnership with Collabria, Hubert offers credit cards such as the Hubert Financial World Mastercard, which comes with various benefits including reward points and travel insurance. citeturn0search4
- Mortgages:
- Offers conventional, high-ratio, and cashback mortgages, primarily available to Manitoba residents.
Pros of Hubert Financial
- Competitive Interest Rates: Hubert consistently offers higher interest rates compared to traditional banks, making it attractive for savers.
- No Monthly Fees: Most accounts come without monthly maintenance fees, reducing the cost of banking.
- User-Friendly Online Platform: The digital interface is intuitive, catering to users who prefer online banking.
- Deposit Insurance: Deposits are 100% guaranteed by the Deposit Guarantee Corporation of Manitoba, providing peace of mind to customers.
Cons of Hubert Financial
- Limited Physical Presence: Being an online-only bank, there are no physical branches for in-person services.
- Geographical Restrictions: Some products, like mortgages, are limited to residents of Manitoba.
- No Chequing Account: Hubert primarily focuses on savings products and does not offer a traditional chequing account.
Customer Service and Support
Hubert Financial provides customer support via phone and online chat. Their service hours are accommodating, and they also offer a mobile app, Hubert GO, available on both iOS and Android platforms, enhancing the convenience for users. citeturn0search4
Conclusion
Hubert Financial stands out as a strong contender in the Canadian online banking landscape. Its competitive interest rates and fee-free accounts make it appealing to those comfortable with digital banking. However, potential customers should consider the lack of physical branches and certain product limitations when deciding if Hubert aligns with their banking needs.
Note: Always ensure to verify the latest information directly from Hubert Financial’s official resources or consult with a financial advisor before making banking decisions.