Personal Finance

Tangerine Child Tax Benefit not Deposited Feb 20, 2017

  • Last Updated:
  • Mar 20th, 2017 7:46 am
[OP]
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Dec 17, 2008
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Winnipeg

Tangerine Child Tax Benefit not Deposited Feb 20, 2017

I was looking on Tangerine's Facebook page and it looks like no one with Tangerine got their Child Tax Benefit direct deposited today, yet clients with Scotia got it today, and most other banks got it on Saturday since today is Family day in Ontario where the banks are located (provincial holiday). In Manitoba it is a provincial holiday add well but all our local credit unions deposited this morning like normal.

So I'm curious....is the bank required to have the benefits deposited today and what can happen if they don't? I'm guessing nothing, but I'm also guessing a few customers will be closing accounts soon. Lol
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41 replies
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Aug 14, 2001
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I'm guessing nothing except angry customers. :-)
I saw mine show up on Saturday, but the date was the 20th. I'm not with Tangerine.
Newbie
Feb 19, 2017
8 posts
I'm one of their customers. I wasn't upset until getting their explication from them which basically is its a holiday so normally our computer would up date at midnight Sunday they won't till Monday because of long weekend.

Even though the payee has it stated on the revenue Canada's site and my account also that it's been issue today.

Funniest this is revenue Canada is open today on the holiday and just told me that's the bank we put then for the 20th and added your in NC why should that effect you lol exactly what I said.

Very sprites why it hasn't gotten more media.
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Jan 31, 2006
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Op's no offense please, but if you did not receive the child tax benefit today are you going to die? Just like EI payment if the payment date is a holiday it will be deposited the next business day.
[OP]
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cgtlky wrote:
Feb 20th, 2017 5:31 pm
Op's no offense please, but if you did not receive the child tax benefit today are you going to die? Just like EI payment if the payment date is a holiday it will be deposited the next business day.
Doesn't effect me... But there are many people living day to day with no money... Who it does effect.

I was just bringing the issue to everyone's attention. Lol
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cgtlky wrote:
Feb 20th, 2017 5:31 pm
Op's no offense please, but if you did not receive the child tax benefit today are you going to die? Just like EI payment if the payment date is a holiday it will be deposited the next business day.
If there's a federal holiday the money would have been deposited one business day earlier.

When a direct deposit is made, the bank makes the final adjustment, so this sounds like a Tangerine issue. Unfortunately people will have to wait one business day. I hear some smaller banks won't a direct deposit until 9 AM because it's not automated enough; they need someone there to do it. (I wouldn't classify Tangerine as a "smaller bank", however.)
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Feb 19, 2017
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I am glad you posted!! I was wondering what was going on :)

It is not a matter of money urgency for me, but I think of all the parents who may have booked haircuts, or attempted to pick up meds today, or groceries...and it couldn't be done. I think it is a big deal and since Tangerine is the only bank who dropped the ball, maybe they should apologize for the inconvenience.
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Jul 18, 2016
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FoFai2015 wrote:
Feb 20th, 2017 7:16 pm
I hear some smaller banks won't a direct deposit until 9 AM because it's not automated enough; they need someone there to do it. (I wouldn't classify Tangerine as a "smaller bank", however.)
I've heard this too. In fact, I think it was mentioned on RFD several months ago. Scotia made the deposit today in my account ( Feb 20th. ).

OP, give it another two days. You might not even see it tomorrow. Perhaps, Wednesday. After that, give them a call. However, I think you're supposed to "wait 5 working days from the payment date to contact (them). "

http://www.cra-arc.gc.ca/bnfts/bnfts-pymnts-eng.html
Newbie
Feb 19, 2017
2 posts
I'm frustrated too. I'm with Tangerine, and run an account at another bank where my mortgage payment goes out. I keep it close to the line each week for our payment and when I called Tangerine to ask about the child benefit today, they said that banks don't make deposits or withdrawals on holidays. Well, guess what, my other bank took their mortgage payment tonight, and it was short, thanks to Tangerine not posting the child benefit today. I transferred money from another account, but I'll see a charge tomorrow, you can be sure of that.
Newbie
Feb 19, 2017
8 posts
We know that obviously that was not handled propertly by the bank, I just hate how is not a big deal.

I honestly would want to know if any payroll or transfers or even payments were processed. I just don't think it's right if an employer had direct deposit set up for that day and employees with this bank didn't get paid even though it's processed with a direct deposit date how is there no issues.

When there is a bill do and it lands on a holiday they tell you to make sure to pay earlier so it goes through if it doesn't we get charged for late payment, that's their protection where is ours because in the end they obviously made some interest in the last 3 days on all that money.

Just seems not right.
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WendyM174782 wrote:
Feb 20th, 2017 10:09 pm
I'm frustrated too. I'm with Tangerine, and run an account at another bank where my mortgage payment goes out. I keep it close to the line each week for our payment and when I called Tangerine to ask about the child benefit today, they said that banks don't make deposits or withdrawals on holidays. Well, guess what, my other bank took their mortgage payment tonight, and it was short, thanks to Tangerine not posting the child benefit today. I transferred money from another account, but I'll see a charge tomorrow, you can be sure of that.
Why would you "keep it close to the line" for something like your mortgage payment?

You should switch your mortgage payment to come from Tangerine directly and take advantage of their free overdraft if you are cutting it that close all the time. If you fix the mistake before midnight eastern time it's free. If not, it's $5 plus interest daily ... so even a 1-day delay costs you $5.xx
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David248 wrote:
Feb 20th, 2017 11:08 pm
We know that obviously that was not handled propertly by the bank, I just hate how is not a big deal.

I honestly would want to know if any payroll or transfers or even payments were processed. I just don't think it's right if an employer had direct deposit set up for that day and employees with this bank didn't get paid even though it's processed with a direct deposit date how is there no issues.

When there is a bill do and it lands on a holiday they tell you to make sure to pay earlier so it goes through if it doesn't we get charged for late payment, that's their protection where is ours because in the end they obviously made some interest in the last 3 days on all that money.

Just seems not right.
A) Tangerine actually deposits ADP payroll deposits a full business day earlier than any other bank so people are getting this benefit from them all year long :)
B) If a due date is on a weekend it is not actually due until the next business day in Canada. This is regulated by the government. You don't have to pay a Sunday bill on Friday. If it's a long weekend you can pay it on Tuesday and it is considered on time.
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Feb 19, 2017
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I know about getting paid an entire day early for payroll but if it was someone's payday today they would have not received it yesterday or today due to rhw long weekend right.

And with bills I've been told on many occasions by cell companies and my Mastercard company to make sure payments in on time if it falls over the holiday or long weekend.

I was more just pointing out that I'm interested to know if any money was deposited to people's accounta or was it just child tax
Newbie
Feb 19, 2017
2 posts
I did not know that. Thank you for the tip. Tonight I was trying to decide whether to move the payment or close the account at Tangerine! Your suggestion is in line with why I decided to move to Tangerine in the first place.
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David248 wrote:
Feb 21st, 2017 1:43 am
I know about getting paid an entire day early for payroll but if it was someone's payday today they would have not received it yesterday or today due to rhw long weekend right.

And with bills I've been told on many occasions by cell companies and my Mastercard company to make sure payments in on time if it falls over the holiday or long weekend.

I was more just pointing out that I'm interested to know if any money was deposited to people's accounta or was it just child tax
I've always been paid before a weekend or holiday if that's the next payday. Do people get paid later??
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