Canadian Tire 1.8% HISA | Page 2 | Canadian Tire | Discussion forum

Opened the HISA months ago and haven't had a chance to use it.
Can't get passed the security question, I have to call them.
Is there a canadian tire bank app for cheque deposit?
Or do we need puss/pull to bring funds in?
Will the 2 micro deposits from Tang work for Canadian tire HISA?
Thanks

Will the 2 micro deposits from Tang work for Canadian tire HISA?

If you are referring to the initial deposit check you submitted with your application documentation, that is the account to which they will create your external link.

Stephen  

Tang will deposit 2 micro deposits to Can tire HISA, and upon confirming the 2 deposits the link is established. Then one can now push or pull money at the Tang side. Not sure if that works for Can Tite HISA.

Ed said
Canadian Tire allows unlimited links to external banks.

Actually, I have been told by CDN Tire that there is a maximum of 5. Can someone confirm otherwise?

Ed said
This would not work for EQ because it does not use cheques.

Actually, you can get VOID cheques from the EQ site and use that.

Ed said
On the other hand, you can link external banks to Canadian Tire if you initiate the link from the external FI.  

I was told by CDN Tire that is not possible. Has anyone been successful in doing this?

HISAhopper said

I looked at the old thread, and there were talk of Can Tire Bank inst#338 and Transit# 01012 but there was no confirmation that it worked with push/pull at an external site. 

Without an account number, it is a non-starter, since CDN Tire does not display those. BUT even with an account #, it is not a guarantee as the receiving bank can still reject the transaction.

HISAhopper said

Also wondering whether or not the interac e-transfer works with CT HISA so one can at least transfer in some small fund.  

CT is not listed on the list or participating banks on the Interac site so it looks like that is not even possible:
https://www.interac.ca/en/about/network-participants/

In April 2019, someone wrote on RedFlagDeals how the account number and other necessary direct deposit info for their Canadian Tire Bank HISA was available online:

mouseswimming (Apr 6th, 2019 10:51 am) #33

sauro88 wrote:

This is silly... where do you find the HISA account number, I only see my customer number.

go to: account services -> direct deposit request.

type any information, and continue, you will see all information you needed.

The two microdeposits from Tangerine Bank did show up in the Canadian Tire Bank HISA. But, they were returned by Canadian Tire Bank!

Ed said
I set up a link in my Tangerine account to the Canadian Tire Bank ...
Requested a transfer of funds out of Tangerine to the CT Bank on a Monday. Funds left Tangerine on Tuesday and we’re deposited the same day at the CT Bank. Did that twice.

So did your deposits stick or did CT Bank return them like they did for Norman1?

Ed said

So far, so good, knock on wood! In my case, the amounts transferred were the maximum on both days. CT Bank would have been foolish to return them.  

So that presumably means that the micro-deposits from Tangerine were accepted? This would be unlike the experience by Norman1. I wonder how that did not get rejected?

It looks like linking a Canadian Tire Bank account at Tangerine was hit-and-miss!

About six days after mouseswimming reported in that RedFlagDeals discussion that his Tangerine microdeposits were returned, another person reported a successful link with his Tangerine microdeposits:

Darkman (Apr 12th, 2019 11:56 pm)
…

In any case ... I was initially thinking that it [the Canadian Tire Bank account] got locked cuz of "Tangerine linking" business...

Supervisor kept on telling me ... Canadian Tire bank can NOT be linked ... and if it "gets linked" ... LOL ... then it's "hit and miss" basically ... with no guarantee it will work ... or if it will work forever ... or if it will work sometimes but not other times... haha

…

Bottom line is ... 2 Tangerine deposits were there ... I verified them ... and Tangerine said it's successfully linked now ...

Should check later maybe ... if Canadian tire reversed it and cancelled it ...

But even supervisor told me ... if it's in .. it should be ok ...

So not sure why they'd cancel the person's [mouseswimming's] tangerine [microdeposits] (as they stated in earlier posts).
…

Could have been something off about the microdeposits from Tangerine Bank. Maybe a mismatch in the account owner names between the Tangerine Bank account and the Canadian Tire Bank account?

If the Tangerine Bank account was for "Bob Smith" and the Canadian Tire Bank account was for "Robert James Smith", then the incoming microdeposits from Tangerine Bank would be for payee "Bob Smith". That would not match exactly the owner "Robert James Smith" of the Canadian Tire Bank account.

Payee name is a mandatory part of the "C" record segment for the direct deposit, described in the Payments Canada Standard 005.

I think it's up to the receiving financial institution what to do when the payee name in the incoming direct deposit doesn't exactly match the name on the receiving account. Reason 914 (INP - Incorrect Payor/Payee Name) is provided should the financial institution decide to bounce the direct deposit.

mouseswimming wrote that he was going to contact Canadian Tire Bank to find out why the bank returned his two Tangerine microdeposits. But, he never followed up with what he found.

Yes, for those reasons, it is more complicated for the receiving financial institution than just checking for an exact match between the payee name and the name on the receiving account. It wouldn't look good if the institution returned direct deposits for "A D James", "Alice James", or "Alice D. James" to an account for "Alice Diana James".

Tangerine did originate the microdeposits with the correct institution, transit, and account number in the failed link attempt. mouseswimming uploaded a screen capture that shows the 7¢ and 11¢ Tangerine microdeposits credited to his Canadian Tire Bank HISA. They were followed by matching same-day debits for returning them back to Tangerine.