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Frequently Asked Questions

Where is MAXA Financial located?
Our Corporate Office is located in Brandon, Manitoba.

Are my deposits safe?
Yes. All your MAXA Financial deposits are 100% guaranteed by the Deposit Guarantee Corporation of Manitoba and there is no dollar limit to this coverage.

Are my transactions safe?
Yes. Once you sign up with MAXA Financial, we provide you with security information so you can access your accounts. Internet, telephone and debit card transactions each have their own security codes for your protection.

What type of investment options do I have?
Currently MAXA Financial offers a MAXA Savings Account with ATM, Point-of-Sale and chequing privileges. We also offer MAXA GICs, MAXA RRSP Savings, MAXA RRSP GICs, MAXA RRIF Savings, MAXA RRIF GICs, MAXA TFSA Savings and MAXA TFSA GICs Accounts.

What are the interest options available to me when I purchase an investment at MAXA Financial?
As of March 23, 2010 MAXA Financial offers compounding interest on all investment products, which will automatically be applied to your particular investment.  If you prefer, we will pay the earned interest to your appropriate MAXA account on an annual basis.  Please ensure to specify on your deposit form which interest option we should apply to your investment.

Is it possible for MAXA to guarantee an investment rate for me? How would I accomplish this?
Yes, MAXA will guarantee a rate for up to 21 days.  Once you decide you would like a rate held, please contact a MAXA Financial Representative by phone at 1-866-366-MAXA, or email . We will verify that the rate you are interested in is still available, and will require the dollar amount you wish to invest, along with your name, address and telephone number to secure the rate guarantee.  The guarantee will only apply to the specific dollar amount you indicate- if you would like to send additional funds, please contact us for another rate guarantee. You may contact us at any time during your 21 days to extend the rate quote, provided that rates have not changed in the meantime.

Is there a minimum opening deposit?
A $5.00 share provides you with the full features of a MAXA membership.

Is my money easily accessible?
MAXA Financial accepts cash, ATM and electronic deposits, and cheques in Canadian funds only drawn on Canadian financial institutions. If you deposit a cheque, we place a 10-day hold on those funds for security reasons. Funds earn interest immediately, but are not available for withdrawal. Your remaining balance and other types of deposits to your account are accessible immediately.

Can my business or organization open a MAXA Financial Account?
MAXA Financial offers only personal accounts at this time.

Can I make my MAXA transactions at a branch of Westoba Credit Union Ltd.?
No. Our MAXA Financial Representatives offer personalized service by phone. You may also deposit your cheques using a Westoba Credit Union ATM or any other Credit Union ATM machine.

Should I use my MAXA Savings Account for all my banking?
Our Savings Account is designed as an investment tool, earning higher interest rates. We do offer the convenience of cheques, ATM withdrawals, debit card purchases and electronic bill payments for the benefit of our Members who may occasionally need it.

Can I pay bills from my MAXA Account?
Yes, you may pay bills from your MAXA Account using using MAXA Online, our Internet service.

Are there any fees?
A current list of fees is available on the Fee For Service page.

Will I receive a statement of my MAXA Financial Account?
As part of the MAXA Banking concept, we do not offer a paper copy of your MAXA Financial statement. Statement information is available at all times through MAXA Online, our Internet Banking program, enables members to view their account transactions and print them out at home. You can also receive your balances through Manitoba ATMs.

Who do I talk to if I have more questions?
You can reach a MAXA Financial Representative by:

Phone:   1-204-571-MAXA (6292) or 1-866-366-MAXA (6292)
Fax:       1-204-571-2944 or 1-866-329-MAXA (6292)
Mail:      220 10th Street Unit C
             Brandon, MB R7A 4E8

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