Failed to link USD account from Tangerine | Simplii Financial | Discussion forum

davidgeorge said
I opened a USD account last Thursday and tried to link this account from my Tangerine account. I got the following message this morning:

"You recently added a new external account to link to your Tangerine Account(s), and to set up the link, we needed to deposit two small amounts of money into that external account. However, your other bank returned the deposits to us, due to an issue with the account."

I am wondering what the issue was.  

Linking Simplii USD is not possible, to make matters worse, it's very difficult to withdraw funds had you been able to. Consider the failure to link as good fortune. Essentially, the only way to move money in and out is wire transfers, which you may know can be costly. You could send them a cheque, however, apparently they will convert it into CAD first, then convert it again into USD and deposit it into your account. I suppose if you had a significant amount of USD ( subjective ), then perhaps the wire fees would be worthwhile.

Jon, you are right. Simplii USD promotion is no use. Called Simplii before opening USD a/c, found out there is no such feature to get an external link to the USD a/c. Only thing can do is transfer USD to CAD and transfer the $ out.