Yes, Haventree Bank is a Schedule 1 bank, which means it is a Canadian-owned federally regulated by the Office of the Superintendent of Financial Institutions OSFI under the Bank Act.
We currently offer mortgage solutions and Guaranteed Investment Certificates GICs. These products are available through brokers and financial partners who work with us directly.
B Lenders are financial institutions that help people who might not qualify with traditional banks.
If customers are self-employed, have bruised credit, or earn income in non-traditional ways, a B lender can offer mortgage solutions that fit their unique financial story.
Alternative lenders are a trusted part of Canada’s lending ecosystem — helping thousands of families each year get approved when banks say no.
Our mortgage rates aren’t one-size-fit-all, they’re based on the borrowers’ unique situation. To find out what rate they may qualify for, they’ll need to apply through a Mortgage Broker.
Our mortgages are only available through licensed Mortgage Brokers. If borrowers are ready to apply, their broker can connect with one of our Business Development Managers through the “Connect with a BDM” form on our broker page.
A Mortgage Broker is a licensed professional who connects borrowers, like homebuyers, with mortgage lenders. They compare products from different lenders to help borrowers find the mortgage that best fits their needs and financial situation.
Borrowers can view their mortgage information anytime in our Client Portal at haventreebank.com . They can click on the Client Login on the top right, then choose Sign up now to create an account.
Haventree Bank helps Canadians who may not meet the requirements of a traditional bank. From self-employed individuals to newcomers, those with credit challenges, or anyone facing life changes, we provide flexible mortgage options built for to fit their circumstances.
Our mortgage rates aren’t one-size-fit-all, they’re based on your unique situation. To find out what rate you may qualify for, you’ll need to apply through a Mortgage Broker. Use our Find a Broker tool to connect with a Mortgage Broker near you.
Our mortgages are only available through licensed Mortgage Brokers. If you are ready to apply, your broker can connect with one of our Business Development Managers through the “Connect with a BDM” form on our broker page. If you’re looking for a Mortgage Broker, you can use our Find a Broker tool to connect with a Mortgage Broker near you.
A Mortgage Broker is a licensed professional who connects borrowers, like homebuyers, with mortgage lenders. They compare products from different lenders to help borrowers find the mortgage that best fits their needs and financial situation.
B Lenders are financial institutions that help people who might not qualify with traditional banks.
If customers are self-employed, have bruised credit, or earn income in non-traditional ways, a B lender can offer mortgage solutions that fit their unique financial story.
Alternative lenders are a trusted part of Canada’s lending ecosystem — helping thousands of families each year get approved when banks say no.
Right now, we offer fixed-rate mortgages only. We also have convertible mortgages — these start as short-term fixed-rate options that you can switch to a longer term later and take advantage of decreasing rate environments, without paying prepayment penalties.
Yes, you can make a lump sum payment toward your principal balance once a year at maturity if your mortgage is open, you can pay any amount OR you can pay up to 20% of your original loan balance on your mortgage anniversary.
Yes, you can increase your regular payment by up to 20% on your mortgage anniversary or at maturity.
You can view your mortgage information anytime in our Client Portal at haventreebank.com. If you don’t have access to the Client Portal, click on Client Login in the top right, then choose Sign up now to create an account.
Haventree Bank helps Canadians who may not meet the requirements of a traditional bank.
Whether you’re self-employed, new to Canada, rebuilding your credit, or navigating major life changes like bankruptcy or divorce, we offer flexible mortgage solutions designed for real life.
Our mortgage rates aren’t one-size-fit-all, they’re based on your unique situation. To find out what rate you may qualify for, you’ll need to apply through a Mortgage Broker. Use our Find a Broker tool to connect with a Mortgage Broker near you.
Our mortgages are only available through licensed Mortgage Brokers. If you are ready to apply, your broker can connect with one of our Business Development Managers through the “Connect with a BDM” form on our broker page. If you’re looking for a Mortgage Broker, you can use our Find a Broker tool to connect with a Mortgage Broker near you.
Right now, we offer fixed-rate mortgages only. We also have convertible mortgages — these start as short-term fixed-rate options that you can switch to a longer term later and take advantage of decreasing rate environments, without paying prepayment penalties.
To reset your Broker Portal password, you can watch our short video guide here or go to the Broker Portal login page and click Forgot Password.
Head to the Elite Loyalty Portal login page and select Forgot Password.
If you’re locked out, contact our Broker Support team at brokersupport@haventreebank.com. They’ll help you regain access as quickly as possible.
Log in to the Broker Portal and use the Loan Conversations tab to message your underwriter directly. You’ll also find their contact details on the Loan Details page.
Log in to your Broker Portal account, and your pipeline will be right on the homepage. Want a quick walk-through? Watch this short video to see exactly where to find it.
Log in to your Broker Portal account, open the loan you’re interested in, and head to the Loan Details tab, your commission amount will be listed there.
Log in to your Broker Portal account, open the loan you’re interested in and you will see your loan progress at the top of the page in the green bar.
Log in to your Broker Portal account, open the loan you’re interested in, and head to the Documents tab. Drag and drop your documents to the upload section. Watch this short video to learn more.
Log in to your Broker Portal account, open the relevant loan and head to the Documents tab. Then select the green Download button beside the document you need.
Need help? Watch this short video tutorial for step-by-step guidance.
You can send a quick note to your underwriter in the Loan Conversations tab to let them know and we will take care of it.
This section only shows loans that are closing within the next thirty 30 days and still have outstanding conditions. If your deal doesn’t meet these criteria, it won’t appear here.
Need help locating your loan? Watch this short video tutorial for step-by-step instructions.
In the Broker Portal, click on “My Profile” at the top of your screen to access the “My Details” page. There, you can update your phone number, language preference, and address.
To update your email address or brokerage name, please contact Broker Support at brokersupport@haventreebank.com.
Need help? Watch this short video tutorial for step-by-step instructions.
In the Broker Portal, click My Profile at the top of your screen, then select My Preferences. From there, you can choose how often you receive messages about your loans with Haventree Bank. Watch this video to see how.
You can reply to loan conversation alerts, but please avoid sharing any personal identifiable information, since email is not a secure channel.
Do not reply to automated alerts or updates from a no-reply email address, as those inboxes are not monitored.
Log in to the Broker Portal and click the Resources tab at the top of the page. You can also reach out to your BDM directly for details.
Submitting more business is the quickest way to level up! Make sure you are signed up to receive our promotional e-mails by updating the My Preferences section in My Profile. You can also connect with your BDM to learn more.
A mortgage renewal happens when your current term ends, and you extend it for a new term. It’s your chance to review the interest rate, term length, and conditions—either with your current lender or by switching to another one.
About four 4 months before your maturity date, your Account Manager will reach out to discuss your options.Thirty 30 days before your maturity date, you will receive your mortgage renewal offer. If anything’s unclear, you can contact our Renewal team. Before your maturity date, sign and return your renewal agreement by mail or using DocuSign.
At the end of your mortgage term, you can renew with us, switch to a new lender, or pay off your mortgage balance in full.
Reach out to our Renewal Account Managers. They’ll walk your through your options and work with you to find terms that fit your needs.
You may need to share updated financial information like proof of income, recent credit report, and property details.
Yes, during renewal, you can explore switching to a different type of mortgage. Your Acount Manager will explain the options and can help you decide what works best for you.
If your mortgage is not renewed by the maturity date, it will be considered in default. Our Collections team will then contact you to discuss next steps and possible solutions.
Any applicable fees will be clearly listed in your renewal offer. If you’ve already discussed your options with our Account Managers, you can expect to receive your renewal offer about thirty 30 days before your maturity date.
Whether you’re working with your mortgage broker or directly with your Renewal Account Manager, we will help you find the best available rate at the time of renewal. Rates depend on several factors, so it’s always a good idea to connect with your renewal Account Manager or reach out to your mortgage brokerto discuss your options.
Haventree Bank makes refinancing easy for you. Contact our Direct Client Account Managers to help you with your refinancing needs. See our Contact Us page.
Refinancing means replacing your current mortgage with a new one. This can help you adjust your loan term, change your interest rate, or use the equity in your home for other needs.
The first step is to understand your budget. Take a look at your finances, make a plan and connect with a Mortgage Broker who can help you determine how much you can afford to borrow for your new home. Looking for a Mortgage Broker? Use our “Find a Broker” tool to find one in your area.
The first step is usually getting pre-approved for a mortgage. You can do this through a mortgage broker or directly with a lender. Pre-approval helps you understand your budget and shows sellers you are a serious buyer.
A GIC or Guaranteed Investment Certificate is a type of investment where you deposit money for a fixed period and earn interest on it. The principal amount is guaranteed, making it a low-risk investment.
Annual interest is calculated on the face value of the GIC and paid to you either on the anniversary of the date you purchased your GIC, twice a year or each month, depending on your choice.
If you choose compound interest, the interest you earn is re-invested on your behalf, so you earn interest on your interest. This is known as compound interest.
When your GIC matures, we will redeem the principal amount of your GIC plus all of your compound interest. The longer the term of your GIC, the greater the compound interest benefits you.
No. All our interest rates are fixed for the full term of your GIC. That means that we guarantee we will pay you the contracted rate of interest until your GIC matures.
When your estate notifies us of your death, we will redeem your GIC plus any interest earned up until that date.
Our GICs are available through several investment and mutual fund advisors. Please ask your advisor about Haventree Bank GICs.
No, GICs are not redeemable before maturity — unless the registered owner passes away. In that case, the GIC will be redeemed, and any accrued interest will be paid to the estate
Haventree Bank GICs are not transferable or assignable.
If the maturity date falls on a weekend or holiday, it will be adjusted to the next business day.
Interest can be paid at regular intervals monthly, semi-annually, or annually or compounded and paid at maturity, depending on the GIC selected. For short-term GICs, interest is typically paid at maturity.
Please note: interest earned up to each anniversary date is considered taxable income, even if it is not paid out.
Maturity instructions changes can be communicated to us through your broker.
Joint owners can be added with approval from the existing owners. Tax slips e.g., T5/Relevé 3 are issued in accordance with applicable tax reporting rules.
Right now, we offer fixed-rate mortgages only. We also have convertible mortgages — these start as short-term fixed-rate options that you can switch to a longer term later and take advantage of decreasing rate environments, without paying prepayment penalties
We require at least 20% down payment for a home purchase since we do not provide insured mortgage products. This approach helps us offer quicker approvals and more flexible options.
A conventional mortgage typically requires a down payment of at least 20% and is registered only for the exact amount of the loan.
A collateral mortgage, on the other hand, is registered for an amount greater than your actual mortgage and may cover more than one loan from the same lender, allowing you to potentially add other loans like lines of credit in the future.
Haventree Bank only offers conventional mortgage charges.
An open mortgage allows you to make extra payments — or pay off the full amount — at any time without penalty.
A closed mortgage offers limited prepayment options during the term of your mortgage, except as outlined in the agreement.
A long-term mortgage typically has a term of 3 years or more. A short-term mortgage usually ranges from 1 to 2 years
Haventree Bank helps Canadians who may not meet the requirements of a traditional bank.
From self-employed individuals to newcomers, those with credit challenges, or anyone facing life changes, we provide flexible mortgage options built to fit their circumstances.
Sign up to our email list to receive our rate sheets. These are base rates, our mortgage rates are determined on a case-to-case basis based on the application. Once you submit an application, you will go through the onboarding process and be added to our email list to receive our rate sheets.
Yes. Haventree Bank GICs are eligible for coverage through the Canadian Deposit Insurance Corporation CDIC, up to applicable limits.
Yes. GICs are considered a low-risk investment because the principal and interest are guaranteed if the investment is held to maturity. They are also eligible for coverage through Canadian Deposit Insurance Corporation CDIC, up to applicable limits.
You might think about refinancing if interest rates have dropped, your credit score has improved, or you need to change your loan terms. It can also be a good option if you want to consolidate debt or access cash from your home equity.
· Rate-and-term: Adjust rate or term without taking cash
· Cash-out: Refinance for more than you owe and receive the difference in cash
Many people refinance to lower their monthly payments, reduce interest costs over the life of the loan, shorten their mortgage term, or access extra funds for things like home renovations or other big expenses.
Refinancing costs can include application fees, appraisal fees, closing costs, and potentially prepayment penalties. It's important to weigh these costs against the potential savings. For more details, contact our refinancing team.
With a cash-out refinance, you replace your existing mortgage with a new, larger one, and receive the difference in cash. You can use that money for home improvements, debt consolidation, or other expenses
Haventree Bank makes refinancing easy for you. Contact our Direct Client Account Managers to help you with your refinancing needs. See our Contact Us page.
Eligibility is based on several factors, including but not limited to your credit score, income, debt-to-income ratio, and the amount of equity in your home. We review these details to determine if you meet our refinancing requirements.
Yes, at Haventree Bank, we offer refinancing options, such as rate-and-term refinancing and cash-out refinancing, even if your credit is not perfect.
We’ll review your situation to understand the reasons behind your credit challenges, explore solutions, and work with you to find terms that can help improve your financial stability over time.
On average, the refinancing process takes about 30 to 45 days.The exact timing depends on your specific situation
Required documentation includes, but is not limited to, proof of income, recent credit reports, bank statements, and details about your current mortgage and property.
The first step is to understand your budget. Take a look at your finances, make a plan and connect with a Mortgage Broker who can help you determine how much you can afford to borrow for your new home. Looking for a Mortgage Broker? Use our “Find a Broker” tool to find one in your area.
Haventree Bank requires a minimum down payment of 20% of the home's purchase price.
Closing costs are expenses you pay on top of your down payment. They include fees for the loan, appraisal costs, title insurance, lawyer costs, and other administrative expenses. They usually range from 1.5% to 4% of the purchase price.
The timeline can vary, but it typically takes around 30 to 45 days from the time you make an offer to closing on the home. In some cases, it can be as quickly as 10 days if all documents, approvals, and requirements are in place and the process runs smoothly.
A home inspection is an evaluation of the property's condition by a professional inspector. It's highly recommended as it can uncover potential issues that might affect your decision to buy.
First-time homebuyers may have access to special programs, grants, and loans that make purchasing a home more affordable. These can include lower down payment requirements, reduced interest rates, and other financial incentives.
Government Programs & Incentives
First Home Savings Account FHSA
- Save up to $40,000 tax-free.
- Contributions are tax-deductible, and withdrawals for a home purchase are tax-free.
RRSP Home Buyers’ Plan HBP
- Withdraw up to $60,000 from your RRSP tax-free.
- Must repay over 15 years
Land Transfer Tax Rebates
- Available in Ontario, BC, PEI, and Toronto.
- Rebates range from $2,000 to over $8,000 depending on location
First-Time Home Buyers’ Tax Credit
- Claim up to $10,000 on your tax return.
- Reduces your tax payable by up to $1,5003.
35-Year Amortization Option
Helps reduce monthly payments but increases total interest paid.
You can use an online affordability calculator to estimate how much you can borrow based on your income, current debts, and down payment. A mortgage broker can also walk you through your numbers and help you understand your options.
The timeline can vary, but on average, it takes about 30 to 45 days from the time your offer is accepted to the closing date.
A property inspection is a professional evaluation of the property's condition. While it’s not mandatory, it's highly recommended as it can uncover hidden issues that might affect your purchase decision or future costs.
Property buyers may qualify for special programs, grants, and loans that offer lower down payments, reduced interest rates, and other financial incentives.
Yes, you may be able to use the equity you’ve built in your current home to fund the purchase of another property. In most cases, we allow up to 80% loan-to-value LTV on your existing property. Keep in mind that you will also need to qualify separately for the new mortgage according to our lending guidelines.
In many cases, porting your existing mortgage may be possible. However, the new property must meet our property qualification criteria, and a new mortgage application is still required - even if the loan amount and terms remain the same. Approval is subject to our current underwriting policies.
We do offer financing options for residential rental properties, provided they meet our rental program criteria. Please note that we do not lend on commercial properties or bare land.
Not necessarily. If you are financially able to qualify for both properties - your current home and the new one - you may not be required to sell. Final approval depends on meeting our lending requirements.
We calculate your tax component in three simple steps:
- Estimate: We estimate the amount needed for the upcoming tax year based on your current tax bill and include a minimal percentage increase to account for a possible increase in property taxes.
- Adjustment: Next, we adjust the estimated levy to include any balance in your tax account – whether there is a surplus credit or a shortfall deficit.
- Dividing payments: Finally, the total is divided over a frequency deemed sufficient by the bank.
The tax portion of each mortgage payment goes into a separate tax account. This account is used to save up for your property taxes. As the tax due date approaches, we receive a notice from your municipality with the amount owed. We use the funds from your tax account to pay your property taxes on your behalf, making the process seamless for you. We ensure the tax bill is paid for your property regardless of the balance in your Account.
A tax year is the period between the date we pay your final tax bill and the approximate due date for the final tax bill of the following year. The tax year doesn’t follow the calendar year.
A shortfall balance means there’s a negative balance in your tax account. We factor this shortfall into the calculation for your next year’s tax payments. You have an option to make a lumpsum payment to cover the shortfall amount in your tax account with us. If you choose to do this, we’ll recalculate your tax payments based only on next year’s estimated taxes. Please note that until the shortfall is paid, we’ll apply an interest rate equal to your mortgage rate on the outstanding amount.
There are a few reasons why you might have a shortfall in your tax account:
- For newly built properties, your property taxes may not have been fully assessed yet, and we may have paid supplementary tax bills for previous years.
- Your property taxes could have increased due to an updated assessed value of your home.
- Additional payments, such as supplementary tax bills, unpaid water or utility bills, or other municipal charges, were required on your behalf.
Our priority is making sure your property taxes are paid in full, even if it temporarily results in a negative balance in your tax account.
Each municipality has its own schedule for when the property taxes are due. Haventree Bank pays your annual property taxes on that due date. Once your final tax payment is made, we can estimate your tax amount for the following year and adjust your tax portion to keep things on track.
If you receive a tax bill directly, don’t worry – just email the bill to taxes@haventreebank.com. You may still receive a copy of your property tax bill for your records.
If your property is in British Columbia, you may be eligible for a Homeowner’s Grant. It’s important to remember that it’s your responsibility to claim the grant directly with your municipality before the due date, as Haventree Bank cannot do this for you. If you’re claiming an additional grant for the first time, you’ll need to update the tax office with that information. It is your responsibility as the homeowner to advise Haventree Bank of your HOG status or when/if there is a change, otherwise we pay the full amount of your property taxes.
This may only apply to specific municipalities. Homeowners must declare an occupancy status every year to their municipality even if they live there. If no declaration is submitted, the property will be considered vacant and will incur the applicable tax. Please contact your municipality directly if you have questions.
This only applies to Quebec Residents. Haventree Bank is only responsible for paying your municipal taxes. Homeowners are responsible for paying their school taxes directly to the municipality.
Yes. The FCT Platinum Program is currently available in Ontario only.
Does Haventree Bank offer the FCT Platinum Program?
Yes. The FCT Platinum Program is currently available in Ontario only.
What is the FCT Platinum Program?
The FCT Platinum Program is a lawyer free refinance solution that uses title insurance to simplify the process for both brokers and borrowers.
Designed for qualifying residential mortgages, it helps reduce costs and speed up funding. FCT manages the entire transaction, from title search and document signing to funding, registration, and discharge, so funds can be released as soon as documents are signed.
The program is available for:
- First-priority refinances and increases
- Owner-occupied and rental properties up to 4 units
It also comes with a low, fixed fee, typically lower than traditional legal costs.
Key benefits:
- Faster turnaround times
- Fewer delays
- Lower costs
- A simpler and improved borrower experience
- Title insurance protection
Want to learn more?
You can refer to the FCT brochures below or share directly with your clients:
- Broker brochure: 1090E_FCT_Platinum_Brochure_11-18.pdf
- Client brochure: 04013E_Platinum Borrower Brochure_National-04-25.pdf
No. Haventree Bank doesn’t convert a joint account into an individual account.
If you would like to separate the account, the joint account must first be closed and a new individual account opened separately.
No. The ownership structure of a joint account cannot be changed once the account has been opened.
If you no longer wish to share the account, the joint account will need to be closed and separate individual accounts can then be opened.
Yes. Both account holders have equal access to the joint account and can independently:
- Make payments
- Transfer money
- View account activity and transactions
Each person can manage the account without requiring approval from the other account holder.
Because both individuals share full access and control, joint accounts should only be opened with someone you trust.
A joint account is a shared bank account that allows two people to manage money together. Both account holders can deposit funds, pay bills, send transfers, and manage everyday banking from the same account.
With Haventree Bank, each account holder has their own secure login and can track account activity in real time through the app or online banking.
Yes. Except in Quebec, either account holder can close the joint account without the other person’s consent.
Before the account can be closed, any remaining balance must be withdrawn or transferred out.
Because both account holders have equal access and control, we recommend discussing any account changes together beforehand.
Except in the province of Quebec, all joint accounts at Haventree Bank are opened as Joint With Right of Survivorship JWTROS accounts.
This means that if one account holder passes away, the surviving account holder automatically becomes the sole owner of the account and keeps access to the funds.
The tax portion of each mortgage payment goes into a separate tax account. This account is used to save up for your property taxes. As the tax due date approaches, we receive a notice from your municipality with the amount owed. We use the funds from your tax account to pay your property taxes on your behalf, making the process seamless for you. We ensure the tax bill is paid for your property regardless of the balance in your Account.
If there’s no activity on your account for 24 months, it will be considered dormant. Your account will remain open and continue earning interest, we’ll monitor it and may reach out to you.
Please note that interest payments and interest calculations do not count as account activity.
If your account remains inactive for 10 years, the unclaimed balance is transferred to the Bank of Canada.
Haventree Bank offers a hybrid account that combines the benefits of an interest earning account and a chequing account. This means your money earns interest while remaining fully accessible for daily use.
Yes. You can use funds from your joint account to purchase a jointly held GIC.
Either account holder can initiate the purchase. At maturity, both the original investment and any interest earned will be deposited back into the joint account used to fund the GIC.
You can open an account anytime by visiting our website www.haventreebank.com and selecting "open a bank account" on the homepage.
The onboarding process is simple and secure. Just follow the prompts and have your documents ready, such as your government-issued ID and SIN for interest-earning accounts.
Haventree Bank offers the Everyday Growth Account, a hybrid account that combines flexibility of a traditional chequing account with the added bonus of earning interest on your balance. Your money stays accessible while continuing to grow.
Except in Quebec, a GIC purchased using funds from a joint account is jointly owned by both account holders, just like the joint account itself.
Yes. Either account holder can withdraw or transfer money from the joint account without requiring approval from the other person.
No. All Haventree Bank account holders must be Canadian residents to maintain their accounts.
However, if you're travelling, you can continue to access and use your existing account from outside Canada.
If a disagreement arises between joint account holders, Haventree Bank does not intervene to resolve personal disputes.
It is the responsibility of the account holders to resolve the matter between themselves. Haventree Bank will comply with any valid court orders or legal instructions related to the account.
Yes. Both account holders have full access to the joint account, which means either person can use funds from the account to purchase a GIC.
You can open up to 8 Everyday Growth Accounts with Haventree Bank, including individual and joint accounts.
You can open up to 8 non-registered accounts with Haventree Bank, including any combination of individual and joint accounts.
Yes. You can remove a linked account through the External Accounts or Linked Accounts section in your app or online banking.
To help keep your account safe, Haventree Bank uses two-factor verification as part of our identity checks. Your mobile device allows us to confirm it's really you and not someone else trying to use your information. This extra layer of security protects your account from unauthorized access.
If you need cash, you can transfer money from your Haventree Bank account to an external account at another financial institution and withdraw the cash from there.
At this time, we do not offer debit cards or ATM access.
Any two individuals who meet Haventree Bank’s eligibility requirements, including age, residency, and identity verification, can open a joint account together.
Examples include:
- Spouses or partners
- Family members
- Business partners
- Roommates
Each applicant must complete their own account application and identity verification process separately.
The Everyday Growth account combines the flexibility of a traditional chequing account with the added bonus of earning interest on your balance.
Yes. You can use funds from your joint account to purchase a jointly held GIC.
Either account holder can initiate the purchase. At maturity, both the original investment and any interest earned will be deposited back into the joint account used to fund the GIC.
The Income Tax Act requires all banks to collect your SIN when you open an account that earns interest. This includes interest-earning savings accounts and GICs.
Banks must report the interest you earn each year to the Canada Revenue Agency, and your SIN allows us to do so accurately.
Your information is always securely encrypted. If you have any questions, feel free to contact us.
Interest is calculated daily based on your account’s closing balance at the end of each business day. The interest you earn is deposited into your account on the first day of every month.
To open an account with Haventree Bank, you must:
- Be the legal age of majority in your province or territory
- Be a Canadian resident with a valid SIN
- Not pay taxes outside of Canada
- Have a valid Canadian phone number
- We don't offer our services in Quebec at this time, but we're working to launch there soon. Stay tuned!
If you meet these requirements, you're ready to get started.
Yes. Both account holders have full visibility into all account activity, including deposits, transfers, bill payments, and transaction history.
We are required by law to verify the identity of anyone opening a bank account. Checking your government-issued photo ID helps confirm it is really you and protects your account from fraud or unauthorized access.
No. There is no limit on the number of transactions you can make using your Everyday Growth Account.
No.There are no monthly or daily fees to open or maintain your account.
No. There's no minimum balance required to open or maintain an Everyday Growth Account. You'll earn interest on your balance regardless of how much money you keep in the account.
No. There is no limit on the number of transactions you can make using your joint account.
Yes. Haventree Bank is a member of the Canada Deposit Insurance Corporation CDIC. Eligible deposits in your joint account are insured up to $100,000 per insured category, subject to coverage limits. You can learn more on the CDIC website.
There are a few reasons why you might have a shortfall in your tax account:
- For newly built properties, your property taxes may not have been fully assessed yet, and we may have paid supplementary tax bills for previous years.
- Your property taxes could have increased due to an updated assessed value of your home.
- Additional payments, such as supplementary tax bills, unpaid water or utility bills, or other municipal charges, were required on your behalf.
Our priority is making sure your property taxes are paid in full, even if it temporarily results in a negative balance in your tax account.
Yes. Either account holder can deposit funds, set up direct deposit, transfer money, and more.
Yes. Haventree Bank is a member of the Canada Deposit Insurance Corporation CDIC. Eligible deposits in your Everyday Growth Account are insured up to $100,000 per insured category, subject to coverage limits. You can learn more on the CDIC website.
Interac e-Transfer® is a fast and secure way to send or receive money electronically between Canadian bank accounts using an email address or mobile number.
When someone sends you an Interac e-Transfer®, you’ll receive an email or text message with instructions to deposit the funds.
If you have Interac e-Transfer® Autodeposit enabled, the money will be deposited into your account automatically.
Yes. Limits apply to Interac e-Transfer®, including daily, weekly, and monthly limits. To see your current transfer limits, log in to your account and go to Settings.
If the recipient does not accept the transfer before the expiry period, the transfer will expire, and the funds will be returned to your account.
*Interac* e-Transfer® expire 30 days after they are sent if they have not been deposited.
Yes. Interac e-Transfer® uses multiple layers of security, including encryption and authentication through your online or mobile banking.
To send money using Interac e-Transfer®:
- Log in to your Haventree Bank app or online banking
- Go to Move Money
- Select Interac e-Transfer®
- Choose or add a recipient
- Enter the amount and security question and answer, if required
- Review and confirm the transfer
The recipient will receive a notification with instructions to deposit the funds.
Ask the recipient to check their spam or junk folder. If they still haven't received the notification, you can cancel the transfer and send it again.
Yes. You can view your sent, received, pending, and completed Interac e-Transfer® through your transaction history.
No. Each account holder can only view and manage their own saved payees and Interac e-Transfer® recipient lists.
No. Haventree Bank does not charge a fee to send or cancel an Interac e-Transfer®.
Most Interac e-Transfer® are processed and delivered within 30 minutes.
Autodeposit allows incoming Interac e-Transfer® to be deposited into your account automatically without needing to answer a security question.
To enable Autodeposit, log in to your account and navigate to Settings > Manage Autodeposits.
No. Interac e-Transfer® can only be sent between Canadian financial institutions.
Yes. You can send an Interac e-Transfer® using either the recipient's email address or mobile phone number, provided it is registered to receive Interac e-Transfer®.
If the transfer has not been deposited, you may be able to cancel it. Once the transfer has been deposited, it cannot be reversed. If this happens, you may need to contact the recipient directly.
To send an Electronic Funds Transfer:
- Log in to your Haventree bank app or online banking
- Go to Move Money
- Select EFT
- Choose the account you want to transfer money from
- Select the linked external account you want to send the money to
- Enter the transfer amount
- Review and confirm your transaction
Yes. Before you can send money using EFT, you'll need to link and verify your external bank account.
An Electronic Funds Transfer EFT is a simple way to move money electronically between Canadian bank accounts. They are commonly used to transfer funds between accounts held at different financial institutions.
No. EFTs are only available between Canadian financial institutions.
Yes. Limits apply to EFT transactions. To see your current transfer limits, log in to your account and go to settings.
Yes. EFTs are processed through secure banking networks and protected using encryption and authentication measures.
An Electronic Funds Transfer EFT moves money between linked bank accounts and typically takes up to 5 business days to process.
An Interac e-Transfer® allows you to send money to another person using their email or mobile number and is usually completed within 30 minutes.
If you experience an issue with an EFT, please contact our Client Support team for assistance.
You can track the status of your EFT through your transaction history or transfer activity in online or mobile banking.
EFTs may appear as pending while they are being processed. Transfers are typically completed within up to 5 business days.
No. Scheduled or future-dated EFTs are not currently available.
You may be able to cancel a transfer before it has been processed. Once the transfer has been sent to the external institution, it typically cannot be cancelled.
Electronic Funds Transfers typically take up to 5 business days, depending on the receiving financial institution and processing times.
If there are not enough funds available in your account, the EFT may be declined, rejected or reversed.
A shortfall balance means there’s a negative balance in your tax account. We factor this shortfall into the calculation for your next year’s tax payments. You have an option to make a lumpsum payment to cover the shortfall amount in your tax account with us. If you choose to do this, we’ll recalculate your tax payments based only on next year’s estimated taxes. Please note that until the shortfall is paid, we’ll apply an interest rate equal to your mortgage rate on the outstanding amount.
No. Existing GICs cannot be updated to add a joint owner.
If you'd like to hold a GIC jointly, you can first open a joint account and then purchase a GIC using that account as the funding source.
You can view your transaction limits anytime by logging in to your account and navigating to Settings > Transaction Limits.
Yes. Any interest you earn on your GIC whether it's paid out or simply accrued is considered taxable in the year it's earned. If your total interest for the year it's earned. If your total interest for the year is over $50.00, we'll issue you a T5 tax slip for your records.
If there are not enough funds available in your account, the bill payment may be declined or rejected.
Yes. As part of our identity verification process, we complete a soft credit check. This type of inquiry does not affect your credit score and won't be visible to other third parties who review your credit report.
Autodeposit allows incoming Interac e-Transfer® to be deposited into your account automatically without needing to answer a security question.
To enable Autodeposit, log in to your account and navigate to Settings > Manage Autodeposits.
For a joint GIC, the interest earned belongs jointly to both account holders.
Digital identity verification helps ensure that you are the person opening an account, and not someone else using your information. As part of this process, we ask you to take a selfie to confirm that your face matches your government-issued photo ID.
Your selfie is used only for verification and is deleted afterward in accordance with our data-retention policy.
Not yet. We don't offer our services in Quebec at this time, but we're working to launch there soon. Stay tuned!
No. We currently do not offer ATM access for cash withdrawals or deposits.
You can still move money easily using Interac e-Transfer® or Electronic Funds Transfer EFT for deposits and withdrawals.
A bill payment lets you pay companies and organizations directly from your bank account through online or mobile banking. This includes utilities, credit cards, telecommunications providers, and government agencies.
To add a new bill payee:
- Log in to online or mobile banking.
- Go to Bill Payments.
- Select Add Payee.
- Search for the company you want to pay.
- Enter your account number as it appears on your bill.
- Save the payee.
Once your payee is added, you can make payments anytime.
Yes. You can view your payment history and transaction details through your account activity.
To make a bill payment:
1.Log in to online or mobile banking.
- Go to Bill Payments.
- Select the payee you want to pay. If you haven't added them yet, select Add Payee and follow the instructions.
- Enter the payment amount.
- Review the details and confirm your payment.
You may be able to cancel a bill payment before it has been processed. Once the payment has been sent to the biller, it cannot be cancelled or reversed.
To remove a bill payee:
- Log in to online or mobile banking.
- Go to Bill Payments and select the Payees tab.
- Select the payee you want to remove.
- Select the Delete button.
Yes. Many government agencies, including the Canada Revenue Agency CRA and provincial service providers, can be paid through bill payments if they are available in the payee list.
Bill payments are typically processed within 1 to 3 business days. Processing times may vary depending on the biller.
Yes. Bill payments are processed through secure banking systems that use encryption and authentication measures to help protect your information and your transactions.
No. At this time, future-dated bill payments are not available. Payments can only be made on the day they are submitted.
If you make a payment on the due date, the biller may receive it after the due date because of processing times. It's recommended to make your payments at least 2 to 3 business days before it is due.
No. Haventree Bank does not charge any fees for bill payments.
Try searching using different keywords from the biller's name. If you still can't find the company you're looking for, please contact our Client Care team at 1-587-760-0587.
If there are not enough funds available in your account, the bill payment may be declined or rejected.
After a payment is submitted, it may take 1 to 3 business days for the biller to receive and post it to your account. If you have questions about the status of your payment, please contact your biller directly.
A GIC or Guaranteed Investment Certificate is a type of investment where you deposit money for a fixed period and earn interest on it. The principal amount is guaranteed, making it a low-risk investment.
Your interest is paid out at the end of your GIC term also called maturity. If you choose a GIC with a term of two years or longer, you can decide whether you'd like your interest paid annually or all at once at maturity.
You can invest in up to 10 Haventree Bank GICs.
When your GIC reaches maturity, here's what to expect:
- If you selected auto-renewal:
Your GIC will automatically renew at the rate in effect on the renewal date. Your original principal amount will be reinvested for a new term, while the interest earned during the term will be paid on your account.
- If you didn't select auto-renewal:
Your principal and any interest earned will be deposited into your account. From there, you can choose to reinvest it or withdraw it , depending on your goals.
