Personal Finance

Tangerine is the future holy

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  • Nov 18th, 2014 9:32 pm
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Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON

Tangerine is the future holy

So I finally got my tangerine account working. This online banking is seriously the future its so dope. How I can just transfer money from TD and Tangerine all online. Open close accounts at will. I swear iv been with TD and CIBC and there nothing like this.
55 replies
Newbie
Sep 8, 2007
69 posts
44 upvotes
It was even better before Scotia's takeover.
Deal Guru
User avatar
Nov 30, 2009
12178 posts
603 upvotes
Toronto
Inb4 Poutine!
[QUOTE]I wish there was a way to know you're in the good old days before you've actually left them.[/QUOTE] ~Andy Bernard, The Office (U.S.)
Deal Addict
User avatar
Sep 1, 2013
1420 posts
323 upvotes
New Tecumseth, ON
kot_2150 wrote: It was even better before Scotia's takeover.
Any difference besides ATM network?
Sr. Member
Nov 6, 2013
709 posts
494 upvotes
malquin wrote: 45$ RRSP transfer out fee.
$45 on someones retirement savings! They are going to be god dam broke!
Deal Addict
User avatar
Dec 26, 2010
1736 posts
776 upvotes
Calgary
malquin wrote: 45$ RRSP transfer out fee.
Charging a fee to freeloaders and promotion chasers that pull their money out of the business... what a horrible thing. As a Tangerine customer that doesn't close accounts, I'd love to pay for the costs of you leaving personally ... instead of you. Tangerine shouldn't be protecting it's loyal customers.
Indexer, non-yield chasing, low cost, broad based, as simple as possible investor.
Deal Fanatic
User avatar
Feb 19, 2010
6237 posts
2992 upvotes
bruenor9 wrote: So I finally got my tangerine account working. This online banking is seriously the future its so dope. How I can just transfer money from TD and Tangerine all online. Open close accounts at will. I swear iv been with TD and CIBC and there nothing like this.
It was only a matter of time. I started banking with one of, if not, the first virtual banks there was almost twenty years ago. It was called Mbanx, a BMO product, and has long since gone away with the advent of online banking. To this day, even though I've always lived in Alberta, my "branch" is shown as somewhere on Bloor Street in Toronna.
Deal Fanatic
Nov 9, 2013
5882 posts
7460 upvotes
Edmonton, AB
kot_2150 wrote: It was even better before Scotia's takeover.
Scotia is raising fees right for it's customers in the new year right and since the take over Tangerine has been running lots of promos to recruit new customers. I wonder if they're targeting some goal and then once achieved they'll add bank fees. I sincerely hope not; I quite enjoy their absent account fees. Time will tell I suppose.
Jr. Member
Sep 15, 2013
118 posts
19 upvotes
Sault Ste. Marie
wm009 wrote: Charging a fee to freeloaders and promotion chasers that pull their money out of the business... what a horrible thing. As a Tangerine customer that doesn't close accounts, I'd love to pay for the costs of you leaving personally ... instead of you. Tangerine shouldn't be protecting it's loyal customers.
You know you're on RFD, right? Charging fees to close accounts acts as a barrier to switching to better banks or accounts. It has nothing to do with protecting "loyal" customers. Tangerine is protecting itself.
Deal Addict
User avatar
Dec 26, 2010
1736 posts
776 upvotes
Calgary
ssmarie wrote: You know you're on RFD, right? Charging fees to close accounts acts as a barrier to switching to better banks or accounts. It has nothing to do with protecting "loyal" customers. Tangerine is protecting itself.
Yeah I'm on RFD and my opinion doesn't change. The cost of taking your business away and the liability, paper work and other tax related BS that goes along with it costs money. The business isn't going to "eat it" for fun. It's passed onto the other consumers that stay around.

You're right, Tangerine is protecting itself. Without clients, they wouldn't exist. They're one in the same.
Indexer, non-yield chasing, low cost, broad based, as simple as possible investor.
Deal Addict
Apr 21, 2014
2321 posts
1106 upvotes
Alberta
Their email money transfer system is archaic. I got a tangerine email money transfer and they require a transit and branch number etc to deposit. Once it's accepted, it can take 2 days to get into the account.

PCF has the same benefits you describe (transferring money between other bank and pcf)
Deal Addict
User avatar
Aug 5, 2011
2313 posts
192 upvotes
YF
All banks can do what Tangerine does, even the online money transfer feature, the system that makes this work existed long time ago.

Tangerine was the first to introduce photo cheque-in feature, other banks soon followed (CIBC and TD)
Sr. Member
Apr 28, 2014
675 posts
185 upvotes
Oakville, ON
Conquistador wrote: It was only a matter of time. I started banking with one of, if not, the first virtual banks there was almost twenty years ago. It was called Mbanx, a BMO product, and has long since gone away with the advent of online banking. To this day, even though I've always lived in Alberta, my "branch" is shown as somewhere on Bloor Street in Toronna.
Mbanx was absorbed into BMO Direct Banking. There are two virtual branch transits; Toronto (Transit 2000) and Montreal (Transit 3553).

The Toronto call centre used to be located at 55 Bloor Street in Toronna. It has now relocated to Mississauga. There are still business processes at BMO that relate specifically to former Mbanx customers; i.e. if you need a Certified Cheque for some reason, as those can only be done by the home branch. However, you would be strongly encouraged just to walk into any branch and get a bank draft instead, as it is the same difference.

Certain administrative actions on accounts can only be processed by terminals at the home branch; however, it is probably extremely unlikely you would ever run into any difficulty. There are Account Manangers at Direct Banking that deal specifically with former Mbanx clients.

I heard from a more senior employee who was around during the Mbanx days that the virtual bank was a money loser for BMO....apparently, you would have staff from the call centre jumping into cabs with taxi chits to deliver drafts to Mbanx customers.

[IMG]https://pbs.twimg.com/media/Bf4CPGTCEAACcpw.jpg[/IMG]

Despite the logo, it is a BMO debit card all the way. All BMO debit cards have the same six digit prefix: 5007-66XX-XXXX-XXXX
Newbie
Sep 8, 2007
69 posts
44 upvotes
Aethean wrote: Any difference besides ATM network?
Almost no waiting when you called them,
They had cover one free ATM transaction outside of their network per month if I remember correctly.
Interest rate were better.
Sr. Member
Dec 22, 2013
930 posts
223 upvotes
EDMONTON
abc123yyz wrote: Their email money transfer system is archaic. I got a tangerine email money transfer and they require a transit and branch number etc to deposit. Once it's accepted, it can take 2 days to get into the account.

PCF has the same benefits you describe (transferring money between other bank and pcf)
Then pay the $1 (cheaper than many other banks) and use Interac e-transfer. I'll gladly type in a couple numbers to save the fee.
Sr. Member
Dec 22, 2013
930 posts
223 upvotes
EDMONTON
IMWHFMPC wrote: All banks can do what Tangerine does, even the online money transfer feature, the system that makes this work existed long time ago.
I know for sure TD and CIBC don't offer the same online system to add external accounts for transfers, and they sure as hell don't have free email money transfers. CIBC does offer some free Interac e-transfers depending on which account you have though.
Deal Addict
User avatar
Oct 16, 2008
4731 posts
2788 upvotes
abc123yyz wrote: Their email money transfer system is archaic. I got a tangerine email money transfer and they require a transit and branch number etc to deposit. Once it's accepted, it can take 2 days to get into the account.
It's a free option that only Tangerine provides, above and beyond what other banks provide, in interac e-transfer. I don't know what you're complaining about.
Sr. Member
Jul 20, 2014
902 posts
213 upvotes
Hamilton, ON
Tangerine without question is still the most technologically advanced branch in Canada.
Deal Addict
Apr 21, 2014
2321 posts
1106 upvotes
Alberta
ilove wrote: It's a free option that only Tangerine provides, above and beyond what other banks provide, in interac e-transfer. I don't know what you're complaining about.
I'm not a tangerine customer. I was only commenting on the receiving end. So they don't charge the sender a 1.50 fee?

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