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
Rate this app
6.4Mixed
AlternativesOur take
Desk verdict
Canada’s reminder that a charter is not a growth story.
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.
Motus Bank lists Schedule I bank (wound up) under OSFI / CDIC (historical) in Canada. On safeguarding we currently write: Was CDIC; balances moved with the parent plan. An AML programme is claimed. There is no IBAN-class local rail on the flags we store. We list 1 live markets on the product. As we score the sticker: monthly Was no-fee chequing; FX —; ATM —. This desk would open it for: Historical Canadian digital-bank case.
What it does well: Was a real bank. What to watch: Closed as a brand. Desk score 6.4 / 10 (safety 8.0, fees 8.0, features 6.0, app 6.4). Last verified 2026-08-01. Headquartered in Toronto, Canada; founded 2019. None of this is advice — it is a file so you can read the entity before the card colour.
Best for: Historical Canadian digital-bank case.
Closed 2025-01
Wound up as a standalone digital bank; customers moved to Meridian.
Pros
- +Was a real bank
Cons
- −Closed as a brand
How it actually works
- Custody
- Insured bank deposit
- Local rails
- In-app ledger
- Built for
- Personal
- Settlement
- App-ledger instant; bank rails per corridor
- Review risk
- Closed — no new customers
- Pay surface
- visa · physical · Apple Pay · Google Pay
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
FAQ
Is Motus Bank a bank?+–
Motus Bank holds a banking-style licence (OSFI / CDIC (historical)). Still read the legal entity on the statement, not the app icon.
How is money protected?+–
Was CDIC; balances moved with the parent plan
Where is Motus Bank available?+–
We list 1 market desk on the desk. Residency and onboarding rules still sit with Motus Bank.
Card and wallets?+–
visa · physical · Apple Pay · Google Pay
Ratings and reviews
No published user reviews yet. The desk score still comes from licence, fees, and the product — not from a empty star average.
Alternatives
Full alternatives page
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- HQ
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