Personal Finance

"Pulled" funds into Tangerine savings account from other bank today.When do I start earning interest on the funds pulled

  • Last Updated:
  • Dec 2nd, 2017 10:05 am
[OP]
Deal Addict
Jul 11, 2008
1863 posts
1350 upvotes

"Pulled" funds into Tangerine savings account from other bank today.When do I start earning interest on the funds pulled

This morning, I "pulled" some funds through Tangerine into my Tangerine savings account (from another bank through a linked account). The transaction is still showing up under "pending transactions" and the transaction date indicated is "Nov 20". I have the 2.75% promo interest on my Tangerine account - wondering if I would start earning interest on the funds pulled into Tangerine starting today and over the weekend or if interest will only be earned as of the transaction date of Nov 20 (Monday)?
Last edited by adilh53 on Nov 18th, 2017 12:10 am, edited 1 time in total.
5 replies
Member
Jan 21, 2012
410 posts
179 upvotes
adilh53 wrote: This morning, I "pulled" some funds through Tangerine into my Tangerine savings account (from another bank through a linked account). The transaction is still showing up under "pending transactions" and the transaction date indicated is "Nov 20". I have the 2.75% promo interest on my Tangerine account - wondering if I would start earning interest on the funds pulled into Tangerine starting today and over the weekend or if interest will only be earned as of the transaction date of Nov 20 (Monday)?
Starting on Monday.
Sr. Member
Jun 19, 2015
778 posts
696 upvotes
Monday at the earliest, it usually takes 1-2 days from the date of the pending transaction until the money actually appears in Tangerine.
Banned
Nov 30, 2017
25 posts
8 upvotes
saberon2016 wrote: Monday at the earliest, it usually takes 1-2 days from the date of the pending transaction until the money actually appears in Tangerine.
So is Thursday the best day to do a PULL into Tangerine from your external account like Simplii Financial ?

So the money will be in Tangerine the next business day - i.e Friday & will start earning interest in Tangerine from Friday.

But it won't leave Simplii Financial till Monday . So basically Fri, Sat & Sun for 3 days its earning interest in both places - Simplii & Tangerine.

Does it matter what time you do the PULL on Thursday ? Before 5.00 PM or after 5.00 PM or something like that ? Or it doesn't matter.

TIA
Deal Fanatic
Jan 21, 2014
5126 posts
2743 upvotes
ttcdriver wrote: So is Thursday the best day to do a PULL into Tangerine from your external account like Simplii Financial ?

So the money will be in Tangerine the next business day - i.e Friday & will start earning interest in Tangerine from Friday.

But it won't leave Simplii Financial till Monday . So basically Fri, Sat & Sun for 3 days its earning interest in both places - Simplii & Tangerine.

Does it matter what time you do the PULL on Thursday ? Before 5.00 PM or after 5.00 PM or something like that ? Or it doesn't matter.

TIA
Depending on from which institution the funds coming from. e.g. for EQB then yes. For some others, you funds will be debited the same day as they arrive at Tangerine (updated at the end of the day), so no extra day(s) interest earned
Deal Fanatic
Feb 9, 2009
9594 posts
7187 upvotes
How much extra interest are you really going to earn in 2 days unless we are talking millions you pulled here... I could find a loonie on the street and made more then the interest you likely will in 2 days here.

Top