October 10, 2017
Re: why pulling money from Tangerine failed
I ended up finding the CT small pamphlet on their site (so much harder to find my hard copy of it!), and it mentioned nothing about daily limits.
CT does say the money has to be there at the time of initiating. Newbie mistake here: I thought I was fine, but I had forgotten that it was linked to my chequing acct at Tangerine, whereas my money was in my Tangerine savings account.
I figured a few seconds wouldn't matter; so on Tangerine I transferred my amount from savings to chequing. That internal transfer should happen right away I figured.
The couple of business days later, I got the tangerine email saying the transfer failed (I have all my email alert options set on Tangerine). Another business day later, Tangerine charged me a $45 NSF fee. I was pretty confused - I figured if anyone would charge me, it'd be CT
Tangerine couldn't find a reason for the NSF charge, though said some of my account was still on hold, and because all my transactions were done several days ago, and I didn't expect problems, I can't recall why, and he couldn't tell why either. So they did waive the NSF and so far still I have no penalty charge from CT.
FWIW EQ Bank does have a limit on what you can transfer in. It might be because they only allow any account to hold $200K max. Weird right?
September 29, 2017
To my best knowledge, PUSHING money from FI A to B has no limit at receiving end (B). ...
that is what I said. Correct that it may only be the pushing bank that places a limit, at least via their self-serve online functionality. And some may even limit it even if you call in, e.g. Tangerine has started to do that.
September 29, 2017
Ask if the Canadian Tire Bank savings account has a direct deposit information form instead.
The info would be the same. But, one still has to be cautious. It is possible for a financial institution to accept direct deposits for an account but reject pre-authorized debits for the same account. That could result in a returned item fee at the originating financial institution.
Yes, case in point is that DUCA has recently blocked pushes for SOME of their accounts where they previously had no block, because of conditions of those accounts. So YMMV.