Personal Finance

Tangerine Bank -- Question about external links/accounts

  • Last Updated:
  • Oct 26th, 2016 5:14 pm
[OP]
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May 30, 2015
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Tangerine Bank -- Question about external links/accounts

Hello,

I was wondering if anybody knows this:

Is it possible to add my TD Direct Investment(TDDI) account as one of the three external accounts which can be linked?

I tried and it seems that Tangerine System does not accept the account number for TDDI.
I guess this happens because the TDDI account has some letters in it, not just numbers.

But, I think that I read before on some posts that some people are able to transfer money from Tangerine directly into their investments accounts.
Not sure if i understood correctly.
Did they do it as bill payment? Would that work?

Thank you.
11 replies
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Aug 8, 2012
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pishta wrote:
Oct 26th, 2016 2:06 pm
Hello,

I was wondering if anybody knows this:

Is it possible to add my TD Direct Investment(TDDI) account as one of the three external accounts which can be linked?

I tried and it seems that Tangerine System does not accept the account number for TDDI.
I guess this happens because the TDDI account has some letters in it, not just numbers.

But, I think that I read before on some posts that some people are able to transfer money from Tangerine directly into their investments accounts.
Not sure if i understood correctly.
Did they do it as bill payment? Would that work?

Thank you.
Bill payment works for me for 2 different brokers (assume TD can do the same but I don't use them).
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pishta wrote:
Oct 26th, 2016 2:06 pm
Hello,

I was wondering if anybody knows this:

Is it possible to add my TD Direct Investment(TDDI) account as one of the three external accounts which can be linked?

I tried and it seems that Tangerine System does not accept the account number for TDDI.
I guess this happens because the TDDI account has some letters in it, not just numbers.

But, I think that I read before on some posts that some people are able to transfer money from Tangerine directly into their investments accounts.
Not sure if i understood correctly.
Did they do it as bill payment? Would that work?

Thank you.
I think people usually use bill payment method to fund brokerage accounts. You can set up a link too, but you'll probably have to bring a void cheque to TD.
Sr. Member
Jul 28, 2012
967 posts
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Montreal
pishta wrote:
Oct 26th, 2016 2:06 pm
I tried and it seems that Tangerine System does not accept the account number for TDDI.
I guess this happens because the TDDI account has some letters in it, not just numbers.
Actually, it has more to do with the fact that an investment account is not a deposit account.

Only certain non-deposit products have an actual transit number, financial institution and account number (for example, certain credit lines that can be used for payroll deposits or preauthorized payments).
[OP]
Member
May 30, 2015
226 posts
120 upvotes
ace604 wrote:
Oct 26th, 2016 2:11 pm
pishta wrote:
Oct 26th, 2016 2:06 pm
Hello,

I was wondering if anybody knows this:

Is it possible to add my TD Direct Investment(TDDI) account as one of the three external accounts which can be linked?

I tried and it seems that Tangerine System does not accept the account number for TDDI.
I guess this happens because the TDDI account has some letters in it, not just numbers.

But, I think that I read before on some posts that some people are able to transfer money from Tangerine directly into their investments accounts.
Not sure if i understood correctly.
Did they do it as bill payment? Would that work?

Thank you.
Bill payment works for me for 2 different brokers (assume TD can do the same but I don't use them).
Thank you for your answer.
I did not try yet to set it as Bill payment.
I was wondering if the transfer via bill payment takes the same time as when you transfer via the linked external accounts.
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Aug 8, 2012
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pishta wrote:
Oct 26th, 2016 2:19 pm
ace604 wrote:
Oct 26th, 2016 2:11 pm
pishta wrote:
Oct 26th, 2016 2:06 pm
Hello,

I was wondering if anybody knows this:

Is it possible to add my TD Direct Investment(TDDI) account as one of the three external accounts which can be linked?

I tried and it seems that Tangerine System does not accept the account number for TDDI.
I guess this happens because the TDDI account has some letters in it, not just numbers.

But, I think that I read before on some posts that some people are able to transfer money from Tangerine directly into their investments accounts.
Not sure if i understood correctly.
Did they do it as bill payment? Would that work?

Thank you.
Bill payment works for me for 2 different brokers (assume TD can do the same but I don't use them).
Thank you for your answer.
I did not try yet to set it as Bill payment.
I was wondering if the transfer via bill payment takes the same time as when you transfer via the linked external accounts.
Transfer to a linked bank account always schedules next day minimum, and then shows up at the other bank that day or the day after. So 1-2 days delay. My broker accounts cannot be "linked".

Bill payment processing time will depend on your broker and how much hold time if any they put on the funds. Could be next-day. Could have a 5-day hold? Depends on your broker.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
[OP]
Member
May 30, 2015
226 posts
120 upvotes
superfresh89 wrote:
Oct 26th, 2016 2:11 pm
pishta wrote:
Oct 26th, 2016 2:06 pm
Hello,

I was wondering if anybody knows this:

Is it possible to add my TD Direct Investment(TDDI) account as one of the three external accounts which can be linked?

I tried and it seems that Tangerine System does not accept the account number for TDDI.
I guess this happens because the TDDI account has some letters in it, not just numbers.

But, I think that I read before on some posts that some people are able to transfer money from Tangerine directly into their investments accounts.
Not sure if i understood correctly.
Did they do it as bill payment? Would that work?

Thank you.
I think people usually use bill payment method to fund brokerage accounts. You can set up a link too, but you'll probably have to bring a void cheque to TD.
I am not sure if there are cheques for Investment/Brokerage accounts.
At least I am not aware that I can have cheques for the TDDI account.


And, if I am not wrong, lately the linking with an external account is done a little different.
You enter the account number for one of the links that you try to setup (max 3 allowed) and then Tangerine sends two small transfers with small amounts (e.g. $1.23 and $1.47) and after you see those transfers in your other account, you come back to Tangerine and confirm some questions about the amounts transferred and if they match what they have on record, the link is setup. So, I guess they don't necessarily need a void cheque. I think I setup one link in that way, but it was for a chequing account which has a transit number, bank number, and account number and no letters.
Last edited by pishta on Oct 26th, 2016 2:40 pm, edited 1 time in total.
[OP]
Member
May 30, 2015
226 posts
120 upvotes
airodyssey wrote:
Oct 26th, 2016 2:19 pm
pishta wrote:
Oct 26th, 2016 2:06 pm
I tried and it seems that Tangerine System does not accept the account number for TDDI.
I guess this happens because the TDDI account has some letters in it, not just numbers.
Actually, it has more to do with the fact that an investment account is not a deposit account.

Only certain non-deposit products have an actual transit number, financial institution and account number (for example, certain credit lines that can be used for payroll deposits or preauthorized payments).
I did call TDDI today to find out what is the full number of my brokerage account. They gave me 4 digits which they say represent the transit number.
But if you try to setup the link at Tangerine with those numbers, the system says that the transit number it is always five digits. On top of that, as I mentioned above, the actual account number for the TDDI (i.e. used to be called Waterhouse) consists of a combination of 6 or 7 numbers and letters.
So, I am starting to think that Tangerine links accept only chequing accounts (or maybe/possible saving accounts).
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Nov 22, 2015
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pishta wrote:
Oct 26th, 2016 2:29 pm
superfresh89 wrote:
Oct 26th, 2016 2:11 pm
pishta wrote:
Oct 26th, 2016 2:06 pm
Hello,

I was wondering if anybody knows this:

Is it possible to add my TD Direct Investment(TDDI) account as one of the three external accounts which can be linked?

I tried and it seems that Tangerine System does not accept the account number for TDDI.
I guess this happens because the TDDI account has some letters in it, not just numbers.

But, I think that I read before on some posts that some people are able to transfer money from Tangerine directly into their investments accounts.
Not sure if i understood correctly.
Did they do it as bill payment? Would that work?

Thank you.
I think people usually use bill payment method to fund brokerage accounts. You can set up a link too, but you'll probably have to bring a void cheque to TD.
I am not sure if there are cheques for Investment/Brokerage accounts.
At least I am not aware that I can have cheques for the TDDI account.


And, if I am not wrong, lately the linking with an external account is done a little different.
You enter the account number for one of the links that you try to setup (max 3 allowed) and then Tangerine sends two small transfers with small amounts (e.g. $1.23 and $1.47) and after you see those transfers in your other account, you come back to Tangerine and confirm some questions about the amounts transferred and if they match what they have on record, the link is setup. So, I guess they don't necessarily need a void cheque. I think I setup one link in that way, but it was for a chequing account which has a transit number, bank number, and account number and no letters.
You got my post backwards :P I meant that you need to go to TDDI with a void cheque from Tangerine, not the other way around. You will not be able to use the Tangerine link to setup as it only works with deposit accounts.
[OP]
Member
May 30, 2015
226 posts
120 upvotes
superfresh89 wrote:
Oct 26th, 2016 2:55 pm
pishta wrote:
Oct 26th, 2016 2:29 pm
superfresh89 wrote:
Oct 26th, 2016 2:11 pm


I think people usually use bill payment method to fund brokerage accounts. You can set up a link too, but you'll probably have to bring a void cheque to TD.
I am not sure if there are cheques for Investment/Brokerage accounts.
At least I am not aware that I can have cheques for the TDDI account.


And, if I am not wrong, lately the linking with an external account is done a little different.
You enter the account number for one of the links that you try to setup (max 3 allowed) and then Tangerine sends two small transfers with small amounts (e.g. $1.23 and $1.47) and after you see those transfers in your other account, you come back to Tangerine and confirm some questions about the amounts transferred and if they match what they have on record, the link is setup. So, I guess they don't necessarily need a void cheque. I think I setup one link in that way, but it was for a chequing account which has a transit number, bank number, and account number and no letters.
You got my post backwards :P I meant that you need to go to TDDI with a void cheque from Tangerine, not the other way around. You will not be able to use the Tangerine link to setup as it only works with deposit accounts.
OK. Sorry, I think that I did not read your answer properly. I was focusing on how to link my TDDI account in Tangerine. I did not think to send the money from TD to Tangerine.
But, if I understand your second post, you say that it is possible to put a link in my TDDI account pointing/linking to my Tangerine account? Never thought to do it that way, but it could be helpful if it is possible.

I think I looked at my TD account and I did not see any option to link to external account (as Tangerine has). Every time when I use Transfers at TD, the only accounts available are my TD accounts and I don't know if it is possible to add an external account in that list.
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Nov 22, 2015
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pishta wrote:
Oct 26th, 2016 3:03 pm
superfresh89 wrote:
Oct 26th, 2016 2:55 pm
pishta wrote:
Oct 26th, 2016 2:29 pm


I am not sure if there are cheques for Investment/Brokerage accounts.
At least I am not aware that I can have cheques for the TDDI account.


And, if I am not wrong, lately the linking with an external account is done a little different.
You enter the account number for one of the links that you try to setup (max 3 allowed) and then Tangerine sends two small transfers with small amounts (e.g. $1.23 and $1.47) and after you see those transfers in your other account, you come back to Tangerine and confirm some questions about the amounts transferred and if they match what they have on record, the link is setup. So, I guess they don't necessarily need a void cheque. I think I setup one link in that way, but it was for a chequing account which has a transit number, bank number, and account number and no letters.
You got my post backwards :P I meant that you need to go to TDDI with a void cheque from Tangerine, not the other way around. You will not be able to use the Tangerine link to setup as it only works with deposit accounts.
OK. Sorry, I think that I did not read your answer properly. I was focusing on how to link my TDDI account in Tangerine. I did not think to send the money from TD to Tangerine.
But, if I understand your second post, you say that it is possible to put a link in my TDDI account pointing/linking to my Tangerine account? Never thought to do it that way, but it could be helpful if it is possible.
Yep! I have no experience with TDDI specifically, but for my CIBC IE, they had me go to a branch with a void cheque and sign a form.

Transfers still take a few days though... I think the only way around the hold period is if you link your brokerage account with a bank account from the same bank.
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Some brokers do let you link to external accounts. IB does the same thing has Tangerine, sending a couple small deposits (and then taking the total back out in 1 transaction).

I only use that for withdrawing though (from the broker) since bill payment to fund the broker seems faster.

In general banks hold funds that you pull into them, but don't hold funds you push to them.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)

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