WARNING - Canadian Tire Bank | Page 2 | Canadian Tire | Discussion forum

COIN said

Thanks. Do I have to personally open/create this "special bank account" ? Or, is it all done by Canadian Tire Bank? I called and the CSR was not aware of any bank account in the background.  

log in online to ur Triangle website (ctfs.com) , go to "make a payment", setup a payee, then u pay the payee just like you would with ur normal online bank account.

Make sure you pick the correct payee, and correct account number etc (this part is exactly the same as setting up a payee for online payment from your bank account online.) Do a $1 test payment and check to make sure it goes thru and towards ur bill, before ur normal payment of $X.

Dont worry about the special "bank account". Essentially CT just submit the payment on ur behalf, as if its coming from a bank account, as oppose to a credit card (even tho it shows up as a normal credit card charges on your Triangle CC).
They make money off it for all that trouble when someone "fails" to pay their cc payment on time for whatever reason and earn a hefty 19.99% interest.

Yes, works with Enbridge and Toronto Hydro and Toronto Property Tax. Even for Toronto Water -- TIP : look for Toronto Taxes for property and TOR UTL for water.

And if your credit card does not give you back 1%, switch your payments to Bell and Rogers onto your CDN TIRE MC.

KamWest said
Second attempt to place a microdeposit after the first one failed

Been days and days, all other accounts (3 different institutions) linked to Hubert in 1 day.

Looks like I will never be able to link Hubert to Canadian Tire.
I cannot link Canadian Tire to my big bank because its too big an interest hit.

So only choice I have is to move from Canadian Tire with a phone call and a push to Motive once it links to Hubert. Keep at motive until the hold comes off and then pull from Hubert.

I know we are not supposed to swear here but what a cluster fu*k

CTFS will NEVER get a dime of my money again.  

Dont think you will be missing much leaving CTFS, most of the time their rates are not competitive anyway.

I was able to find this routing info on payments.ca's website but one would have to narrow down which of these 5 options is correct.

On this page (https://www.payments.ca/our-directories/financial-institutions-branch-directory), there are links to PDFs containing lists with routing info for all bank, credit union and trust company branches in Canada.

Norman1 said
Doesn't the new site have a way to get the full direct deposit information for the account?

The old Canadian Tire Bank site did.  

Currently no.

I have been investigating all of this with CT and this is what I have been informed:
1. you can get the routing info by calling in. I have and they willingly gave me the info (though I already have it)

2. Many staff, even supervisors, are ignorant of the Direct Deposit Request form (even ones that have been there for 4 yrs) and keep directing customers to the Direct Transfer Authorization form...which IS available on the new site, BUT is NOT what is needed

3. Upon asking for it, and them having to investigate, they are supposedly going to mail me a Direct Deposit form which includes the banking info particulars (Bank ID, Transit #, Acct #, etc). I'll post again once I get it.

4. They have acknowledged that they are still "learning", and are aware of the lack of access to the Direct Deposit for and are supposedly working to address this. I also asked to make sure that staff are properly trained and informed on the existence of the form and how to get it.

HTH

savemoresaveoften said
@kamwest

You sure there is a 10 day hold at ur big bank link? i thought most are 5 biz days If they req a hold.
For myself, i only use my big5 bank account to link all these online banks / CUs. I rather lose some interest but have my main bank as the center hub for all linked transfer. And my big bank does not hold the fund at all if linked transfer in and i am able to transfer out the next day or 2 to its final destination.  

I do exactly the same.

I also thought all holds were 5 days everywhere, until I went to EQ to buy a GIC 5 days after transferring in funds (perhaps the only bank that forces the hold funds for the full period before allowing a GIC purchase). Couldn't do it, its 5 business days from when their system confirms the funds actually arrived to them, which is one more business day.

Canadian Tire Bank is an actual bank.

However, banks are not obligated to accept direct deposits to and pre-authorized debits against accounts. They can even accept direct deposits and return any attempted pre-authorized debits with the reason NCP (No debit allowed).

Norman1 said

However, banks are not obligated to accept direct deposits to and pre-authorized debits against accounts. They can even accept direct deposits and return any attempted pre-authorized debits with the reason NCP (No debit allowed).  

Wouldn't this depend on the T&C of the particular account? Some things are not permitted in certain savings accounts, for instance, but are allowed in chequing accounts.

For example, at DUCA, I can't transfer from Park account to external by Me-to-Me, but I can transfer to any other DUCA account and thence to external. Neither can I transfer anything whatsoever IN to Park account - this must be done by agent. DUCA controls access to this account because it is a promo with conditions.