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PUSH & PULL Limits from Tangerine - Questions
November 30, 2017
10:21 pm
rfdm4g4g9
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My Simplii Financial HISA is directly linked to my Tangerine Account.

My Daily PUSH limit from Tangerine to external accounts is only $ 50,000.

Of course I can call in and/or web chat and move more than $ 50 K per day. But the wait times are horrendous.

But what if I PULL more than $ 50 K from the Simplii Financial side, will the money go out of Tangerine without any issues ? Or is the daily limit for PULL from the external account also $ 50 K for Tangerine ?

Do you guys regularly PULL more than the daily limit of $ 50 K from Tangerine into your external account without any issues ?

I am wasting lot of time in doing multiple transactions of $ 50 K from Tangerine on different days and also due to the delays in transfer, I am losing money in Interest while the money is stuck in transfer & limbo. Especially if a weekend or bank holiday arrives its really bad.

December 1, 2017
1:32 pm
Doug
British Columbia, Canada
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The receiving bank can limit your pull limit but but not your push limit (from the other FI); the sending bank can limit your push limit (to the other FI) and your pull limit.

Hope that clarifies,
Doug

December 1, 2017
5:10 pm
SavingIsGood
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July 12 2016 EFT Withdrawal to Hubert transfer $xx0,000.00
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March 31 2017 EFT Withdrawal to Hubert transfer $x00,000.00
Uncategorized

In both cases transfer was initialized at Huber's side to take money from Tang account.

December 1, 2017
7:26 pm
Doug
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SavingIsGood said
July 12 2016 EFT Withdrawal to Hubert transfer $xx0,000.00
Uncategorized

March 31 2017 EFT Withdrawal to Hubert transfer $x00,000.00
Uncategorized

In both cases transfer was initialized at Huber's side to take money from Tang account.  

Then there is no limit on the Tangerine side-they can't place transaction limits on externally-initiated pre-authorized debits or cheques. They're the same thing, really, in the eyes of Canadian clearing rules. 🙂

Any limit would be set by Hubert Financial, though I don't know what their "pull" limits are for pulling funds in to Hubert. 🙂

Cheers,
Doug

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