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Email this7:27 am
September 6, 2022
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I'm struggling a bit with transfers, hold periods and limits. This is compounded due to the fact I am away from home and am limited to my phone and a crappy tablet. And all of the T&C info is stored on my computer at home. (Rhetorical: Why is that info so hard to find?)
My interest promotion expired and I'm trying to move out of Tang asap in anticipation of a new offer pegged to my balance as of Aug 5 or whatever. I've pushed 25 k out which is the Tangerine limit--only discovered when I tried to send more. Is that a daily limit?
What's the most efficient way to move out/in to minimize hold times and bypass limits? I think they are counter to each other... Push has no hold at the other end but Pull can override limits with a 5 to 10 day hold. I have EQ, Alterna and Achieva accounts. I started a Pull from Achieva and found out there is a 10 business day hold. Fortunately it was still pending the next day so I cancelled it.
I know lots of folks here do this all the time. What's your strategy?
7:41 am
September 30, 2017
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For your purpose, just open a Tangerine chequing account to buffer the funds from the savings.
7:55 am
December 22, 2022
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I mostly use cheques for large withdrawals when electronic transfers aren't an option. When you deposit the cheque in the receiving bank you begin accruing interest immediately.
8:03 am
January 7, 2020
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You can phone in, and move any amount out that you like-- they will override the 25k limit
8:53 am
November 8, 2018
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My strategy is to start moving funds from Tangerine one week before promo ends.
8:55 am
January 7, 2020
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Yes, that is my approach as well
If I do get a new offer, then I am in good shape, easy enough to move it back, and nothing lost if I don't get one
9:00 am
December 7, 2023
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$25,000 for each of Saving accounts, you open multiple savings accounts, for example, 3 savings accounts, total daily limits are 3X$25,000.
Another method is to call Tangerine, they can Move Out any amount.
Some banks do not hold EFT deposits, check with your bank.
If you do Move In with Tangerine, they always hold your money for some days.
2:50 pm
September 6, 2022
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hwyc said
For your purpose, just open a Tangerine chequing account to buffer the funds from the savings.
Doesn't chequing account balance count towards "total balance before new money"?
3:26 pm
March 17, 2022
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RaySee said
Doesn't chequing account balance count towards "total balance before new money"?
No.
6:07 pm
March 21, 2023
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One thing about phoning in to initiate a transfer out of an amount exceeding their daily limit, is that when you do so there is a good chance that they will offer you a new offer verbally over the phone. So it's good to decide ahead of time the cutoff for the rate you are willing to accept.
7:13 pm
October 21, 2013
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Lots of good ideas above. They will all work for getting money out but choice depends on your circumstances.
Bear in mind, however, that Tang isn't obliged to exclude chequing balance when calculating a baseline. They COULD decide to include it.
Also, don't assume you will necessarily get another offer soon. These things can be quite arbitrary. If you are going to call Tang, make sure you have an alternative in mind that pays well -they may ask you, and often do. And don't assume you necessarily need to move money out of savings in order to get another promo, or that doing so is necessarily going to improve your odds. It may, but it may not. Sometimes Tang likes it better if you leave the money there and just wait a few days (up to a week).
We've been dealing with Tangerine since inception, and conclude that Tangerine is mostly arbitrary.
Please write your comments in the forum.