Personal Finance

Found out to instantly transfer from an external bank to tangerine instantly... why did I never think of this before?

  • Last Updated:
  • Mar 20th, 2017 11:17 am
Jr. Member
Mar 15, 2011
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Mississauga
Does anyone know if the email money transfer is offered for US$ accounts? I just checked my TD US$ chequeing account and don't see it.
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kab.work wrote:
Mar 17th, 2017 11:45 pm
Does anyone know if the email money transfer is offered for US$ accounts? I just checked my TD US$ chequeing account and don't see it.
Not Interac e-Transfers.

You can link a USD account at another Canadian bank to Tangerine as per their usual micro-deposit link method and then transfer USD back and forth to Tangerine.
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gqbluez wrote:
Mar 17th, 2017 2:53 pm
Ever since my bank started offering free email money transfer I haven't bothered with non EMT transfers since except in situations where the amount exceeds my daily EMT limit. Still sucks that tangerine doesn't allow free email money transfer.

I can't imagine having to go back to an account that doesn't offer free EMT anymore. It would really screw up my money transfer system :p
which bank offer free emt?
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Nov 27, 2011
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If I understand correctly Tangerine Bank offers; Interac e-Transfer, EMT and EFT

Interac - Cost: $1 - Processing Time: Instant Transfer

EMT - Cost: Free - Processing Time: Minutes

EFT - Cost: Free - Processing Time: 1-2 business days

if this is correct what is the advantage of using the Interac method???
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divx wrote:
Mar 18th, 2017 12:18 pm
which bank offer free emt?
Right now it seems RBC and BMO offers free Interac email transfer on all personal chequing accounts. TD offers unlimited free on their all inclusive account and CIBC offers free on their smart saver account and even Scotia offers a few free now on some of their top tier accounts.

Also you get 5 free per month for EQ bank.
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yatta wrote:
Mar 17th, 2017 3:15 pm
EMT is cool, but for those who want to avoid the EMT fee if you are charged for it and in a similar situation..


why not write your self a cheque from the one account to the other, use the deposit cheque by smartphone app, avoid any fees. I am assuming you have no hold when cashing cheques.
I have no hold with PC FInancial up to $2,500. With RBC they hold my cheques though for 5 days I think?
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stanleychris4you wrote:
Mar 18th, 2017 3:15 pm
If I understand correctly Tangerine Bank offers; Interac e-Transfer, EMT and EFT

Interac - Cost: $1 - Processing Time: Instant Transfer

EMT - Cost: Free - Processing Time: Minutes

EFT - Cost: Free - Processing Time: 1-2 business days

if this is correct what is the advantage of using the Interac method???
With Tangerine there is no advantage. My RBC account includes interac transfers, so I take advantage of that.
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stanleychris4you wrote:
Mar 18th, 2017 3:15 pm
If I understand correctly Tangerine Bank offers; Interac e-Transfer, EMT and EFT

Interac - Cost: $1 - Processing Time: Instant Transfer

EMT - Cost: Free - Processing Time: Minutes

EFT - Cost: Free - Processing Time: 1-2 business days

if this is correct what is the advantage of using the Interac method???
Unless something has changed recently, Tangerine EMTs take days not minutes. It's instant if you send to another Tangerine customer, otherwise the recipient has to enter their bank account info and wait for an EFT to get deposited.

Can't check right now because Tangerine EMT system is down:
"Tangerine Email Money Transfers are unavailable at the moment. If you choose to send an Interac e-Transfer instead, we'll credit you back the $1.00 Interac fee within 1-2 business days."
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Nov 27, 2011
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ace604 wrote:
Mar 18th, 2017 4:51 pm
Unless something has changed recently, Tangerine EMTs take days not minutes. It's instant if you send to another Tangerine customer, otherwise the recipient has to enter their bank account info and wait for an EFT to get deposited.

Can't check right now because Tangerine EMT system is down:
"Tangerine Email Money Transfers are unavailable at the moment. If you choose to send an Interac e-Transfer instead, we'll credit you back the $1.00 Interac fee within 1-2 business days."
Yes you're right! I just got confused because OP and a couple others kept referring to Interac e-Transfer as EMT



gqbluez wrote:
Mar 17th, 2017 2:53 pm
Ever since my bank started offering free email money transfer I haven't bothered with non EMT transfers since except in situations where the amount exceeds my daily EMT limit. Still sucks that tangerine doesn't allow free email money transfer.

I can't imagine having to go back to an account that doesn't offer free EMT anymore. It would really screw up my money transfer system :p
yatta wrote:
Mar 17th, 2017 3:15 pm
EMT is cool, but for those who want to avoid the EMT fee if you are charged for it and in a similar situation..


why not write your self a cheque from the one account to the other, use the deposit cheque by smartphone app, avoid any fees. I am assuming you have no hold when cashing cheques.
Can I point out EMT is NOT the same as Interac e-Tranfer

EMT is always free. It's offered only by Tangerine and other Credit Unions as a free but albeit slower alternative to the paid Interac e-Transfer

Interac e-Transfer fee varies depending on the bank (from $0 - $1.50 per transfer)

...from Tangerine's FAQ
Image
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stanleychris4you wrote:
Mar 18th, 2017 6:14 pm
Yes you're right! I just got confused because OP and a couple others kept referring to Interac e-Transfer as EMT








Can I point out EMT is NOT the same as Interac e-Tranfer

EMT is always free. It's offered only by Tangerine and other Credit Unions as a free but albeit slower alternative to the paid Interac e-Transfer

Interac e-Transfer fee varies depending on the bank (from $0 - $1.50 per transfer)

...from Tangerine's FAQ
Image
Yes you are right. Interac e-transfer is what I am actually referring to. It's just way more to type than EMT although I can see how that could cause confusion.
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Dec 12, 2006
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XtremeModder wrote:
Mar 17th, 2017 2:33 pm
So, every friday I transfer my rent to my tangerine account from my external bank but sometimes it takes a few days for the money to actually come out of my external bank account as we all know.

It's not a huge deal but sometimes it's nice to have the money instantly gone that way it's a bit easier to track all spending, etc.

So then I thought why not just EMT the rent to myself and see how it goes. Took 2 minutes to transfer my full rent vs 2-3 business days (+the weekend).


So with that said, how does it take so long to move money out when doing the 'Move my money' option? I'll probably never use that method again.
Wow 2 minutes.

standard time for email transfers range from instant to 8 hours later to be sent to recipient to accept.

Move money can take 2-5 business days.
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daivey wrote:
Mar 17th, 2017 10:26 pm
you can get that increased.
Not sure about other banks, but with TD you can't.
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Aug 20, 2015
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daivey wrote:
Mar 17th, 2017 10:26 pm
you can get that increased.
You're able to increase the interac e transfer limit?
[OP]
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Aug 14, 2007
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stanleychris4you wrote:
Mar 18th, 2017 6:14 pm
Yes you're right! I just got confused because OP and a couple others kept referring to Interac e-Transfer as EMT








Can I point out EMT is NOT the same as Interac e-Tranfer

EMT is always free. It's offered only by Tangerine and other Credit Unions as a free but albeit slower alternative to the paid Interac e-Transfer

Interac e-Transfer fee varies depending on the bank (from $0 - $1.50 per transfer)

...from Tangerine's FAQ
Image
I actually did not know there was a difference. Thanks for explaining that.
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