Canada
activeNeobank
- HQ
- Toronto
- Fee
- No monthly on core chequing (conditions apply)
Motus Bank
Canadian digital bank folded back into Meridian Credit Union.
Closed 2025-01
Tap a star to jump to reviews
6.4Mixed
AlternativesFive questions
At a glance
Is it a bank?
Yes — Schedule I bank (wound up) (OSFI / CDIC (historical)). Still read the entity on the statement.
If it fails?
Was CDIC; balances moved with the parent plan
Salary?
Not listed. An IBAN or sort code is not automatically a salary account.
Open from abroad?
Residency and KYC are gated. An App Store listing is not proof you can onboard.
Monthly fee
Was no-fee chequing
Account number
No IBAN-class local rail on this file.
NeoBankDB Verdict
Licence first · score second
6.4
/10 · Mixed
Canada’s reminder that a charter is not a growth story.
What it is
Motus Bank was Meridian’s digital bank. It closed as a standalone brand in 2025 and customers were moved back toward Meridian. Tangerine remains the live digital-bank comparison in Canada.
Best for: Historical Canadian digital-bank case.
Last checked 2026-08-01. Not advice.
Closed 2025-01
Wound up as a standalone digital bank; customers moved to Meridian.
What it does well
- +Was a real bank
What to watch
- −Closed as a brand
Who holds the money
The account
How money actually moves
- Who holds the cash
- Insured bank deposit
- How money moves
- In-app ledger
- Built for
- Personal
- Settlement
- App-ledger instant; bank rails per corridor
- Freeze risk
- Closed — no new customers
- Card
- Motus Bank lists a physical card on visa, plus Apple Pay and Google Pay. Confirm the live product in the app — a card is not a current account.
Licence first
Safety
Was CDIC; balances moved with the parent plan
- OSFI / CDIC (historical)Schedule I bank (wound up) · Canada
Fees
- Monthly
- Was no-fee chequing
- FX markup
- —
- ATM
- —
Features
- –IBAN
- –Fee-free core
- –Multi-currency
- ✓Apple Pay
- ✓Google Pay
- –Virtual card
- ✓Physical card
- –Metal card
- –Crypto
- –Stocks
- –Business
- –Kids
- –Halal
- No-fee chequing
- Savings
- Mortgages via parent
Score
- Safety25%
- 8.0
- Fees20%
- 8.0
- Features15%
- 6.0
- App15%
- 6.4
- Global15%
- 2.0
- Support10%
- 6.0
Change log
Full logNo dated notes yet. When the licence, fees, or status moves, it lands here.
Available in
Straight answers
FAQ
01Is Motus Bank a bank?
Motus Bank is filed as Schedule I bank (wound up). The named regulator is OSFI / CDIC (historical). Still read the entity on the statement before you send money.
02What happens to money in Motus Bank if it fails?
Was CDIC; balances moved with the parent plan
03What does Motus Bank charge each month?
The monthly fee on this file is Was no-fee chequing. Fees change — open the operator's pricing page if it is linked.
Ratings and reviews
No published user reviews yet. The NeoBankDB score still comes from licence, fees, and the product — not from an empty star average.
Alternatives
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