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FAQ


Frequently Asked Questions

Where is AcceleRate Financial located?

AcceleRate Financial is a Manitoba based Financial Institution that offers branchless banking services to members across Canada. We are a division of Crosstown Civic Credit Union Limited and our Member Services Support team is located in Winnipeg, Manitoba.

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How do I open an Account?

It's simple. Visit the "Manage your Account" area on our website. Click on the "Forms" section and print off the Membership Application Form and return it to us along with your personal cheque for processing. Or you can request AcceleRate Financial send you an account opening package by calling our Member Services Support Centre at 1-888-954-9543 or 954-9543 in Winnipeg.

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Are my funds guaranteed?

Yes. All funds you invest with AcceleRate Financial are 100% guaranteed by the Deposit Guarantee Corporation of Manitoba. Your principal and interest are guaranteed without limit. In addition, as a division of Crosstown Civic Credit Union Limited, AcceleRate Financial is supported by its financial strength.

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Can I make a deposit, or speak to a representative at a branch of Crosstown Civic Credit Union regarding my AcceleRate account?

No. AcceleRate Financial is operated as a separate division of Crosstown Civic Credit Union and not as one of their full service branches. We are not a bricks and mortar operation. You may however use Crosstown Civic Credit Union ATMs to make your deposits. You can also make a deposit to your AcceleRate account by visiting any credit union ATM displaying the Acculink logo.

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Who can invest with AcceleRate Financial?

In order to establish your account with AcceleRate Financial, you must be a resident of Canada, have a valid social insurance number, and be 18 years of age or older. Accounts will only be in the name of an individual(s) and as such may not be in the name of a corporation, business, organization or trust.

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Does AcceleRate offer US investments?

No. AcceleRate Financial only offers Canadian investment products. We will only accept cheques in Canadian funds drawn on Canadian Financial Institutions.

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Are there any fees associated with my account?

Yes. AcceleRate Financial does charge fees on various products. Please view the Service Fee Schedule listed on our website.

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How do I make additional deposits?

Once your account has been established, you can make deposits via various methods. You can mail your deposit to us using the postage paid envelopes provided. You can deposit at Credit Union ATMs displaying the Acculink logo. Another method is to have your payroll deposited directly to your account, or by establishing an AcceleRate Automatic Deposit/Transfer, to debit a financial institution of your choice for a set amount of funds on a specific date(s) of a month.

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Are my funds readily accessible?

Depending on the product that you choose, your funds could have some restrictions. When you deposit to your savings account, we place a 10 hold day on that specific deposit. You are however earning interest from the date that deposit was made.

If you invest in a term investment such as a GIC, RRSP, RRIF or TFSA, the funds are locked in until the date the term matures. The term investment cannot be redeemed prior to maturity.

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Does AcceleRate negotiate interest rates, or offer bonuses depending upon the dollar amount invested?

No. AcceleRate always provides our member with very favorable rates of interest at all times. We offer the same rates to each member no matter the amount of funds that is being deposited, or already on deposit.

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Do you offer rate guarantees?

Yes. We offer rate guarantees for new deposits, registered transfers and term renewals.

  • We offer rate guarantees up to 14 days for new funds that are being deposited to a new term investment
  • We offer rate guarantees up to 14 days for our term renewals
  • We offer guarantees up to 30 days for registered transfers from other financial institutions

When you wish to place a rate guarantee for any of the above, please call our Member Services Support Centre to reserve your rate today.

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Will I receive a statement?

Yes. Statements are mailed on a quarterly basis to members. Members can also request to receive only one quarterly statement per year-December 31st (required for audit purposes). Account activity may also be viewed on our secure Internet Banking site.

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Why do you need a Social Insurance Number and a personalized cheque to open an account?

As a Canadian financial institution, we must comply with federal and provincial legislation and regulations. As a virtual financial institution, the SIN is required so we can comply with various identity regulations, in addition to income tax reporting requirements. The personal cheque is to ensure accuracy of the personal information and is a requirement due to the implementation of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act.

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Why are deposits mailed to a PO Box?

Since AcceleRate has no branch facilities, we selected a PO Box number as the most secure method to receive deposits for our member accounts.

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Who do I speak to if I have more questions?

AcceleRate Financial representatives are available Monday to Friday from 9:00 a.m. to 5:00 p.m.(CST). Our team of representatives are here to assist you with any questions regarding your account, rate guarantees or any of the products we offer.

Call: 954-9543 in Winnipeg or 1-888-954-9543 from outside Winnipeg.
e-mail: info@acceleratefinancial.ca

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What if I'm having trouble logging on to Internet Banking or ExpressLine Telephone Banking?

Call our Member Services Support team at 1-888-954-9543. If possible please have your AcceleRate Financial member number available when you call.

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Do I need to buy a share to become a member?

AcceleRate will provide each member a complimentary $5 share required to open a membership. Please note, this share will be forfeited upon closure of the account in lieu of account closure costs.

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Do AcceleRate accounts qualify for Crosstown Civic Credit Union Member Equity Plan?

No. AcceleRate Financial account rates differ from those offered by Crosstown Civic and therefore are specifically excluded from this program.

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