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Email this9:22 pm
April 14, 2021
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The money finally re-appeared in my 30d notice account. The account details said that the money left on Jul 5 and the next entry is the money returned on Jul 5. So, I should not be out any interest, as the money supposedly never left. Therefore, I should be earning interest on every day since Jul 5.
Unfortunately, the agent is now trying to tell me to make another transfer request, which will occur 30 days after today. She also wants me to make an interim transfer to another EQ account before final transfer to my external account destination. I told her that this is not necessary, since I was already able to successfully transfer directly from my 10d notice account out to an external account.
I told her no. It was not a problem created by me. I will not allow EQ to play an additional 12 days with my money. I want EQ to transfer my money out on Aug 5, like it was supposed to do. They need to override whatever system controls they have to make it happen. I didn't do anything to them; they did it to me.
I filed a complaint and demanded to speak with a supervisor. No supervisor was immediately available, so I left contact details for a return call. What a crusterfruck.
2:50 am
June 18, 2019
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5 days hold for money that arrives at eq and can be accessed on 6th day even if you want to buy a GIC with them. These banks are out of their minds. Canadian consumer puts up with these b.s. like the telecoms so why not!
5:41 am
August 30, 2023
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Has anyone tried a push funds into EQ? Will it avoid the 5 day hold period.
Because Push Funds do not have a hold period.
7:15 am
April 6, 2013
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EQ Bank doesn't put a hold on funds pushed in or brought in by Interac e-Transfer. I've done both.
The challenge is that Interac e-Transfers are limited to $3,000 maximum every 24 hours at most banks. Some banks also don't give access to automated funds transfers to personal banking clients in order to originate a direct deposit.
7:49 am
November 8, 2018
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This fotopic
zgic said
Has anyone tried a push funds into EQ? Will it avoid the 5 day hold period.
Because Push Funds do not have a hold period.
This forum topic about EQ Notice account. That type of account requires either 10 or 30 days notice to withdraw money.
Five days hold period for a pull to Notice account is quite acceptable: EQ pays interest while funds are on hold. You do not have access to funds for at least 10 (or 30) days anyway, according to account withdrawal rules.
7:51 am
November 8, 2018
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Norman1 said
EQ Bank doesn't put a hold on funds pushed in or brought in by Interac e-Transfer. I've done both.The challenge is that Interac e-Transfers are limited to $3,000 maximum every 24 hours at most banks.
One can combine Interac transfer of $3K with pull of the rest of the money. This will make $3K instantly accessible with the rest 5 days later.
If $3K is not enough, two days of Interac transfers increase instantly accessible money to $6K.
9:29 pm
May 20, 2016
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Norman1 said
EQ Bank doesn't put a hold on funds pushed in or brought in by Interac e-Transfer. I've done both.
I've always had funds on hold when I send funds from Tangerine to EQ. The hold doesn't apply to Interac though.
9:38 pm
May 20, 2016
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Has anyone tested the notice account withdrawal of funds? It seems to me from what EQ told advised is any interest earned remains in the account for the duration of term. For instance, if I deposit $5000, I should earn around $20 for 30 days.
I can schedule a withdrawal of the initial $5K (not any higher) to my regular EQ chequing account for the 30th or 31st day, but the $20 interest automatically renews and I must wait another 30 days to withdraw it.
The following month I'll earn about $0.08 in interest which will renew again automatically. For larger amounts, the interest will be greater and it'll take longer for the interest payout to fall to $0.00.
9:49 pm
April 6, 2013
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Hmm said
I've always had funds on hold when I send funds from Tangerine to EQ. The hold doesn't apply to Interac though.
That's because the funds were not sent from Tangerine to EQ Bank. Instead, the funds were pulled in at EQ Bank from Tangerine.
There's no holds on funds arriving by direct deposit. The funds would be sent by direct deposit if the funds were pushed out at Tangerine to EQ Bank.
9:59 pm
April 6, 2013
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Hmm said
Has anyone tested the notice account withdrawal of funds? It seems to me from what EQ told advised is any interest earned remains in the account for the duration of term. …
That's correct. EQ Bank will only accept notice of withdrawal for funds that both (1) have been posted to the notice account and (2) are not still subject to a hold.
One cannot schedule a withdrawal for interest that has not been posted yet.
10:42 pm
May 20, 2016
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Norman1 said
Hmm said
I've always had funds on hold when I send funds from Tangerine to EQ. The hold doesn't apply to Interac though.
That's because the funds were not sent from Tangerine to EQ Bank. Instead, the funds were pulled in at EQ Bank from Tangerine.
There's no holds on funds arriving by direct deposit. The funds would be sent by direct deposit if the funds were pushed out at Tangerine to EQ Bank.
Actually you're not understanding. Earlier you wrote:
EQ Bank doesn't put a hold on funds pushed in
Excluding direct deposit and interac, The funds in both cases (I am not going to use the term pulled or pushed because it's too confusing). I'll break it down:
Scenario A: I use EQ to request funds from my Tangerine account
Scenario B: I use Tangerine to send money to EQ Bank.
In both scenarios, I have a waiting (hold) period before I can have access my funds in EQ.
4:14 am
April 6, 2013
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There's no hold in Scenario B when funds are being pushed to EQ Bank from Tangerine. That is a direct deposit, originating at Tangerine and arriving at EQ Bank.
Done that many times in the past, from Hubert. No hold when the direct deposit arrives and is posted to my EQ Bank account. If initiated early enough in the day at Hubert, the direct deposit can arrive and be posted by EQ Bank the same day. The funds can then purchase an EQ Bank GIC that day.
Never seen a hold either when pushing out funds at Tangerine to any of my accounts linked at Tangerine. Funds are immediately available on the day the direct deposit arrives and posted to the destination account, as required by Payments Canada rules.
1:23 pm
February 14, 2019
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Gogie said
Not sure if it is of major significance, but using a "Notice" account effectively eliminates the ability to pull money out of EQ Bank into another financial institution. The only option is to "push" it out. Again, this may be of little or no consequence to anyone but sometimes the devil is in the details.
Can't you just do an internal transfer to another EQ account (e.g. EQ savings account) and then do the external pull on that account?
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