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Initiating transfers from Tangerine to CT Bank
April 3, 2021
8:01 am
greyowl
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I was able to set up CT Bank as one of my external banks with Tangerine. Tangerine made two small deposits into my CT Bank account which I confirmed to Tangerine so the link was set up at Tangerine.
So, obviously CT Bank accepts deposits from Tangerine.
I am wondering if I will be able to use the link at Tangerine to pull funds from CT Bank. Will I be able to login to Tangerine and set up a transfer to pull funds out of CT Bank?
Will this work?

April 3, 2021
9:36 am
topgun
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Yes. As long as CT bank is a checking account. DO NOT PULL FUNDS from a savings account.

Have a Great Day

April 3, 2021
9:52 am
greyowl
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Canadian Tire Bank only offers a savings account.

April 3, 2021
10:15 am
Dean
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topgun said

Yes. As long as CT bank is a checking account. DO NOT PULL FUNDS from a savings account.  

Just curious ... why not ❓

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

April 3, 2021
10:42 am
topgun
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You will get a fee charged.

Have a Great Day

April 3, 2021
12:28 pm
Alexandre
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topgun said
You will get a fee charged.  

That depends. For example:

EQ Bank lists their account as "Savings Plus," but they don't charge fees for pulling funds from it.

Motive Financial does, for their Savvy Savings account, after first 2 free monthly transactions to non-Motive accounts.

April 3, 2021
12:45 pm
smayer97
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topgun said
You will get a fee charged.  

Is this documented somewhere or do you have personal experience regarding this?

April 3, 2021
1:19 pm
topgun
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I tried finding the documentation. I failed.

When I started linking accounts to several different FI's it was always a checking account. I could do PUSH/PULL's. No limit from initiating FI.

I have a CU FI that does not offer checking. I setup the link from the CU to the external account. I have to PULL/PUSH from CU. If I require more than one PUSH a month from the CU there is a fee. I called them to inquire. This is also stated on their web site.

Have a Great Day

April 3, 2021
3:49 pm
lhsaid
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topgun said
Yes. As long as CT bank is a checking account. DO NOT PULL FUNDS from a savings account.  

If your saving account has no limit number of pulls per month (or you do it within your limits) there should no problem pulling from saving. I do this all the time.

April 3, 2021
6:28 pm
topgun
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I never tried. As stated I setup checking accounts. I was one of the first to use EQ online banking April 2016. Interest rate around 3% at the time. With so many new customers I had to wait weeks/months before account was setup. I did not like the limited ways to get money then. Bill payments or Interac e-transfer. I kept the account less than a year before canceling. Things must have changed since then. FREE EFT'S added.

Have a Great Day

April 3, 2021
6:50 pm
Adam1
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Pulling funds from Tangerine savings account by direct debit is free as well, but I'm not sure about Simplii.

Adam

April 3, 2021
7:12 pm
topgun
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Thank you. I have Tangerine and Simplii setup linking to external chequing accounts.

Have a Great Day

April 4, 2021
5:16 am
lhsaid
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Adam1 said
Pulling funds from Tangerine savings account by direct debit is free as well, but I'm not sure about Simplii.  

I just did two pulls from my SIMPLII saving to EQ, no issues, no fee.

April 4, 2021
9:48 am
davidgeorge
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greyowl said
I was able to set up CT Bank as one of my external banks with Tangerine. Tangerine made two small deposits into my CT Bank account which I confirmed to Tangerine so the link was set up at Tangerine.
So, obviously CT Bank accepts deposits from Tangerine.
I am wondering if I will be able to use the link at Tangerine to pull funds from CT Bank. Will I be able to login to Tangerine and set up a transfer to pull funds out of CT Bank?
Will this work?  

What are Canadian Tire Bank's institution & transit numbers? I can't find the information from online banking.

April 4, 2021
10:00 am
annie
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greyowl said
I was able to set up CT Bank as one of my external banks with Tangerine. Tangerine made two small deposits into my CT Bank account which I confirmed to Tangerine so the link was set up at Tangerine.
So, obviously CT Bank accepts deposits from Tangerine.
I am wondering if I will be able to use the link at Tangerine to pull funds from CT Bank. Will I be able to login to Tangerine and set up a transfer to pull funds out of CT Bank?
Will this work?  

I can’t believe that CT accepts other bank links~CT Bank only uses its own link~I recently used EQ link to be rejected~sf-surprisedsf-surprised

April 4, 2021
10:12 am
Norman1
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davidgeorge said

What are Canadian Tire Bank's institution & transit numbers? I can't find the information from online banking.

Someone reported on another site that the institution, transit, and HISA account numbers are available in online banking under "account services" -> "direct deposit request".

April 4, 2021
10:19 am
JimmyM
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annie said

I can’t believe that CT accepts other bank links~CT Bank only uses its own link~I recently used EQ link to be rejected~sf-surprisedsf-surprised  

I have a link setup at EQ Bank and regularly push/pull funds with CT Bank. I have done as many as 20 pushes or pulls in a single month and I have never been charged a fee.

April 4, 2021
10:20 am
Norman1
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annie said

I can’t believe that CT accepts other bank links~CT Bank only uses its own link~I recently used EQ link to be rejected~sf-surprisedsf-surprised

It seems to be hit or miss whether or not Canadian Tire Bank will bounce the microdeposits.

Ed reported his microdeposits from Tangerine Bank were not returned. Consequently, he successfully linked to his Canadian Tire Bank HISA at Tangerine Bank.

April 4, 2021
10:25 am
annie
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JimmyM said
I have a link setup at EQ Bank and regularly push/pull funds with CT Bank. I have done as many as 20 pushes or pulls in a single month and I have never been charged a fee.  

CT=Canadian Tire Bank?

April 4, 2021
11:05 am
Rick
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topgun said
You will get a fee charged.  

Guess it depends on the FI. I regularly pay all my bills from my Motive regular savings and do pulls from my Tang, Hubert and EQ savings...no fees on any of them

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