{"id":853926,"date":"2020-05-15T17:13:36","date_gmt":"2020-05-15T21:13:36","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=853926"},"modified":"2026-05-19T07:14:22","modified_gmt":"2026-05-19T11:14:22","slug":"outlook-financial","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/digital-banking\/outlook-financial","title":{"rendered":"Outlook Financial review"},"content":{"rendered":"

What is Outlook Financial?<\/h3>

Outlook Financial is a digital bank that was launched in 2000 as a division of the Assiniboine Credit Union, one of the most respected financial co-operatives in Canada. This means that Outlook Financial isn\u2019t its own company, but represents Assiniboine Credit Union on the deposits front.<\/p>

Assiniboine Credit Union is a well-established financial institution based in Winnipeg. It\u2019s been in business for 75 years and is protected by the Deposit Guarantee Corporation of Manitoba. This means you can rest assured that your money will remain safe and you\u2019ll get a high standard of customer service.<\/p>

Just keep in mind that you can\u2019t deal with any of your Outlook Financial business through an Assiniboine Credit Union branch as they\u2019re intended to be separate entities.<\/p>

How does Outlook Financial work?<\/h3>

Outlook Financial offers similar services to a regular bank except that all of its business is carried out online. This means that you\u2019ll have to do most of your dealings with the company over the internet.<\/p>

That said, it also means that Outlook Financial saves a decent amount of money on overhead costs, which translates directly into big savings for its customers.<\/p>

Another positive attribute of Outlook Financial that sets it apart from other digital banks is that it allows you to access your money using a debit card. You\u2019ll get one free \u201cdebit\u201d from your account each month in the form of an ATM withdrawal, Interac transfer, bill payment or pre-authorized debit.<\/p>

From there, you\u2019ll have to pay $1 for every additional transaction on your account.<\/p>

What financial products does Outlook Financial offer?<\/h3>

Outlook Financial offers a number of registered and non-registered accounts. Registered savings accounts include high-interest TFSAs, RRSPs and RRIFs. You can also open a non-registered cash account and access a comprehensive suite of GICs.<\/p>

Outlook Financial savings accounts<\/h4>

Outlook Financial will give you a 1.75% return on its savings accounts, which is one of the highest interest rates in Canada<\/a>.<\/p>

You also won\u2019t need to pay monthly fees and there are no minimum balance requirements to keep your account open. As an added bonus, you\u2019ll get a debit card to make purchases and put money into your account.<\/p>

You can choose to hold your Outlook Financial savings accounts as a registered or non-registered account. If you choose a registered account (such as an RRSP<\/a>, TFSA<\/a> or RRIF), you won\u2019t have to claim any interest you make on your taxes.<\/p>

Is Outlook Financial safe?<\/h3>

Outlook Financial is very safe because any money you deposit will be held with the Assiniboine Credit Union. This is a very well-established financial institution in Canada that adheres to a number of strict privacy and security measures.<\/p>

Aside from protecting your data and financial information, your physical deposits and the interest they accrue will be protected without limit by the Deposit Guarantee Corporation of Manitoba.<\/p>

Pros and cons<\/h3>

Pros<\/h4>