Be careful with Tangerine's new tactics | Tangerine Bank | Discussion forum

fairwindw1, how do you know this?

I dont have much patience for tangerine anymore. I noticed moving funds out of tangerine, is back dated to the date of transaction. It was frustrating moving money from Tangerine to Simplii, only to have 4 full days (over a weekend) of zero interest return.

Joe said

The Horror  

You know those people that use to pick pennies out of the wishing fountain in the mall, that look under bleachers at the ball park for people's loose change that dropped, that check the coin dispenser on vending machines, that look for loose change in couches at used furniture stores, that look down as they walk to see if there are any coins on the ground, that pick out the coins people leave in urinals, that use metal detectors at beaches and parks.

The hard-core savers. Ever vigilant for their next payday rush of Adeline of getting a bit extra. It's not even that it's worth anything. It's just knowing you got what you deserved or more and weren't cheated. That you accomplished something extra. That your vigilance has paid off.

Was it worth it? Two answers.

Yes. You saved the money from demise.

No. That money is going to meet its demise anyways. Under your terms but non-the less gone. There's a reason it became lost and why it has yet to be found. Leave it that way.

It's for sure a horror to some of us to lose out. To not find that pot of gold under the rainbow like we expected. Even if it's just a few coins.

No Norman it had nothing to do with push pull. It was in direct correlation with tangerine not paying interest until the transfer had cleared. I looked again, I still cannot find it.

Either way, it is an issue investors should be familiar with. If I had known, the transaction would have been initiated the following Monday instead

Norman; If the receiving bank has Me-2-Me transfers, it will be credited immediately when pulling using them. When I set up a pull using Tang, it won't let me do it the same day, it's always the next business day. They don't have the "Me-to-Me"system. If I set up a pull using Tang ON Friday, they won't schedule it until Monday. On the other hand, when I pull the funds using the receiving bank that utilizes M2M, it shows up immediately in that account, but it sits in Tang earning interest for a couple days before it is reconciled. Tang checking, so not a great rate, but still....better than sitting in limbo (Can you even set up pulls from Tang savings?). However, since it's in their favor, a push out of Tang will be debited instantly, but won't show up in the receiving bank for a day or two, (or three if it's a Friday) depending on what time it's set up, so it's in limbo earning nothing until it officially arrives. I always set up pulls from receiving bank instead of push from Tang. On Jan 3 I did 2 pulls using 2 different receiving banks, and both showed as an immediate deposit while Tang showed the withdrawal on the 5th. Does Simplii utilize M2M?

The original poster (who became a member the same day of her/his post and appears to have no other posts on this site) has not responded to my question or any other responses here so as of now I'd take with a large grain of salt the assertion that Tangerine is "playing more and more dirty tricks now".