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Email this6:30 pm
March 26, 2017
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Does anyone know how long it takes to resolve an account security issue? It's been about 14 business days or three weeks since what I believe to be the "flagged" transaction. I've called twice without escalating the matter, they said it would just take some time as that "department" is busy. Should I escalate it now?
Backstory: I opened my Tangerine acc on Mar 2. The problem begins in transferring funds from BMO. I made a very dumb mistake. I thought I would be able to withdraw my TFSA funds into my chequing then transfer it to Tangerine to get around the TFSA transferring business. Before I realized my severe mistake, the transfer to Tangerine from BMO was already put through. Since I obviously don't want to lose my contribution room for the year I phoned BMO and asked if they could reverse the funds back to the TFSA. They were in fact able to do that, however now I have a pending transfer that is going to bounce. It bounced and I believe this is what caused the account lock (~$26k). Once the money was reversed I went ahead and used the proper TFSA transferring method on Tangerines website which is now processing (Mar 9). The funds are gone from BMO so I guess it's now just up to Tangerine to process it? All of this I explained to the Tangerine rep and they said they made a note of it.
Somewhat unrelated but I made a cheque-in deposit when I opened the account which was deposited and processed fine.
Thanks.
Edit: So apparently it is not related to the bounced transfer. It's to do with the initial cheque deposit I made. They are saying they are waiting for verification from my bank. The supervisor asked if I had a statement confirming the cheque cleared my bank which I sent them. If I don't hear back or it isn't resolved mid next week I'm escalating the matter further.
Client Response Group -> Tangerine's Ombudsman -> Ombudsman for Banking Services and Investments.
Edit 2: 1-2 hrs after, the same supervisor phoned me back and had it fixed. Yay.
2:47 am
May 15, 2017
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Omg. Bring back ING.
The only way to get these guys off their butts is to make a formal complaint. Start with their complaints dept and if that doesn't work you can escalate to the ombudsman
4:04 am
December 27, 2016
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My account has been locked twice within the past 30 days for security issues related to email transfers. Absolutely no communication from Tangerine to advise my payments weren't transferred. To my knowledge, they have an obligation to inform their clients of any fraudulent or suspected fraudulent activity on their customers accounts.
I spoke to multiple CSR's and supervisors about problem. They're very apologetic and slow to the mark. There is a lot of textbook answers recited from their operations manual but very little logic involved when questions don't fall within the box. Each time I was embattled in 2 hour conversations to resolve. I had to plead a case to get them to lift the hold.
Apparently all transactions are frozen, even pending, until the hold is removed. I believe my discussion about the pending payment to Tangerine MasterCard and postings to social media about my discord expedited the process. For the record, I'm normally not inclined to push that hard but I feel they backed me into a corner and left me no choice.
A Complaint was filed with their Client Response Group on the first occurrence. Once again an apology was given with a promise to send a letter to explain what happened so I could forward to a contractor who I gave a promise to pay. 5 weeks later and no letter.
The second lock was due to a transfer to my wife who is a Tangerine customer. I have completed many email transfers to her monthly over the past year with no concerns. The money is transferred directly to her account without any hiccups.
It seems to me their security algorithms need to be tweaked. I'm wondering if their software has some security flaws and they're being overzealous with account locks as their employees constantly talk about an abnormal increase in fraudulent transactions at Tangerine.
I've been a client for over 10 years. In my opinion their service has decreased since the Scotiabank purchase and I believe its time to pack up and move on. It's a shame they don't understand that a fantastic customer experience is what build's a company.
When I leave, so will the 5 referrals I gave the bank. We've all discussed their decline in service and it won't take long for the word to spread.
Are other people experiencing similar problems?
9:08 am
April 7, 2017
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While I have not seen anything official it does appear that BNS has bought all of the Chase Visa and Mastercard business. I find it odd that you cannot apply for a BNS Mastercard that evolved from the Sears Mastercard and now BNS is retooling the card to no longer have the no forex feature. And the Amazon Visa controlled by Chase can no longer be applied for. Odd that the cards are out there but no one can apply for one. Makes me think they will eventually roll these cards into one of their already ho hum Visa or Mastercards.
I never went into the Ing as I found their competitor, Citizens Bank, was more up front and were just so good to deal with. And with the Tangerine/BNS takeover changes had to be expected.
Over the years I have had BNS car loans, mortgages and now a Mastercard BUT I must say they are consistently weird to deal with. And they seem to have a business course of direction that is unique to BNS and is non customer oriented. Not my first choice for sure.
9:55 am
May 24, 2016
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Be aware that e-transfers from Tang need about 2 hours to "clear". I sent one to myself this morning, received an email to say I could deposit it into my FI, but when I tried to do so, got an error message. Phoned Tang and they said ok their end, try Interact. Interact said ok their end, try my FI. My FI said ok their end, go back to Tang. So after this taking about an hour in all, got back to Tang, and luckily the lady I spoke to said that she'd heard there was an issue with e-transfers due to new web site, and to give it a couple of hours after initiating the transfer. I did, and it worked. So much for "instant" transfers
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