Personal Finance

Tranfer from TD to Tangerine : only via bank draft??

  • Last Updated:
  • Aug 31st, 2017 2:08 pm
[OP]
Member
May 24, 2011
261 posts
34 upvotes
MONTR

Tranfer from TD to Tangerine : only via bank draft??

A few months ago, we transferred a "decent amount" (>50k) from Tangerine to TD to get a promo rate since it was better than Tangerine.
Promo is over and now we want to move it back to Tangerine.

We are told that only way to do it in a lump sum is via Wire transfer or a bank draft. Is that possible? Had been pleased with TD so far, but this really sucks if its the case.

Thanks for any input.
13 replies
Deal Fanatic
Apr 20, 2011
7747 posts
2737 upvotes
ON
Assuming you have the accounts linked, just do a pull from Tangerine to bring the funds over.
If it fails because too large, do it in smaller amounts, e.g. 10k each day for 5 days.
[OP]
Member
May 24, 2011
261 posts
34 upvotes
MONTR
well of course! Thanks. :)
I was only thinking of TD to Tangerine, not the other way around.
Sr. Member
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Dec 21, 2007
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Scarborough
TD is still stuck in the last century when it comes to Easyweb imo...have to do it via a pull using Tangerine's interface.
I am the Stig's brother's cousin's friend's former roommate.
Sr. Member
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Oct 19, 2016
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Toronto
Write a check from TD.. deposit in your tangerine account.
Deal Addict
Oct 4, 2009
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Montreal
aqnd wrote: Assuming you have the accounts linked, just do a pull from Tangerine to bring the funds over.
If it fails because too large, do it in smaller amounts, e.g. 10k each day for 5 days.
There are no practical* limits AFAIK for deposits into Tang. I've pulled in 500k recently online with no issue and twice that in the past when they had higher promo limits.

The ever changing Tang limits are on online withdrawals which can be circumvented by placing a phone call.

* Into the 7 figures.



For OP, as previously mentioned you can pull in from Tang but it won't show up immediately (generally next business day). Writing yourself a cheque and depositing it using their app is instant.
Sr. Member
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Oct 19, 2016
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Toronto
You moved six digit amount in 1 online transaction ? Is that even possible ?
Last edited by mrtrump on Aug 31st, 2017 9:55 am, edited 1 time in total.
Deal Fanatic
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Feb 19, 2010
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mrtrump wrote: You moved six digit amount in 1 online transaction ? Is that even possible ?
Pulling into Tangerine is different than pushing out. I haven't been restricted on pulling in (have transferred mid-six figures) but to push out more than about $50K per day requires a phone call which then gets it done immediately. This latter transaction can also be done via secure online chat.
Deal Addict
Oct 4, 2009
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Montreal
mrtrump wrote: You moved six digit amount in 1 online transaction ? Is that even possible ?
Yes and yes.
Member
Nov 27, 2009
319 posts
25 upvotes
I have pulled 6 figures into Tangerine from TD. They put a 5 day hold on it but was earning interest from day 1.
Havent had to push out yet but I assume you either call Tangerine or just write a cheque to yourself and deposit in TD.
Moderator
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Mar 23, 2004
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Markham
Conundrum1911 wrote: TD is still stuck in the last century when it comes to Easyweb imo...
They do it on purpose to avoid you moving money out of TD easily...same with the other Big 5 banks (Scotia is a little different that they have pull, but that also reinforces my point).
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Sep 23, 2009
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angel_wing0 wrote: They do it on purpose to avoid you moving money out of TD easily...same with the other Big 5 banks (Scotia is a little different that they have pull, but that also reinforces my point).
I am pretty sure that on the back-end, all of the big banks in Canada are still using systems developed in the 1980s.

Just because the user interface looks modern doesn't change how the back-end operates.
Sr. Member
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Oct 19, 2016
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Toronto
Agreed, surely all of them use very old systems with different programs all having to talk to each other.

renoldman wrote: I am pretty sure that on the back-end, all of the big banks in Canada are still using systems developed in the 1980s.

Just because the user interface looks modern doesn't change how the back-end operates.
Last edited by mrtrump on Aug 31st, 2017 1:58 pm, edited 1 time in total.
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Mar 23, 2004
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renoldman wrote: I am pretty sure that on the back-end, all of the big banks in Canada are still using systems developed in the 1980s.

Just because the user interface looks modern doesn't change how the back-end operates.
Sure, let's say that you are right. But I really doubt that will hinder implementing EFT to be honest.

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