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Canadian Tire 1.8% HISA
February 25, 2021
3:25 pm
HISAhopper
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Opened the HISA months ago and haven't had a chance to use it.
Can't get passed the security question, I have to call them.
Is there a canadian tire bank app for cheque deposit?
Or do we need puss/pull to bring funds in?
Will the 2 micro deposits from Tang work for Canadian tire HISA?
Thanks

February 25, 2021
3:40 pm
Nehpets
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HISAhopper said
Is there a canadian tire bank app for cheque deposit?
 

No app....only option is to pull funds into CdnTire Bank, and push funds out on their website banking portal. You can add additional FI's as external links in addition to the FI used for your initial deposit. Account is credited immediately on a pulled transfer deposit.

Will the 2 micro deposits from Tang work for Canadian tire HISA?

If you are referring to the initial deposit check you submitted with your application documentation, that is the account to which they will create your external link.

Stephen

February 25, 2021
4:19 pm
HISAhopper
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Will the 2 micro deposits from Tang work for Canadian tire HISA?

If you are referring to the initial deposit check you submitted with your application documentation, that is the account to which they will create your external link.

Stephen  

Tang will deposit 2 micro deposits to Can tire HISA, and upon confirming the 2 deposits the link is established. Then one can now push or pull money at the Tang side. Not sure if that works for Can Tite HISA.

February 25, 2021
4:47 pm
Ed
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Canadian Tire allows unlimited links to external banks. However, you’re required to mail in or fax a request form and a void cheque for each FI. There is no limit on how much you can transfer out using the link. This would not work for EQ because it does not use cheques. On the other hand, you can link external banks to Canadian Tire if you initiate the link from the external FI.

February 25, 2021
8:40 pm
smayer97
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Ed said
Canadian Tire allows unlimited links to external banks.

Actually, I have been told by CDN Tire that there is a maximum of 5. Can someone confirm otherwise?

Ed said
This would not work for EQ because it does not use cheques.

Actually, you can get VOID cheques from the EQ site and use that.

Ed said
On the other hand, you can link external banks to Canadian Tire if you initiate the link from the external FI.  

I was told by CDN Tire that is not possible. Has anyone been successful in doing this?

February 26, 2021
6:12 am
HISAhopper
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smayer97 said

I was told by CDN Tire that is not possible. Has anyone been successful in doing this?  

I looked at the old thread, and there were talk of Can Tire Bank inst#338 and Transit# 01012 but there was no confirmation that it worked with push/pull at an external site.
Also wondering whether or not the interac e-transfer works with CT HISA so one can at least transfer in some small fund.

February 26, 2021
7:49 am
smayer97
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HISAhopper said

I looked at the old thread, and there were talk of Can Tire Bank inst#338 and Transit# 01012 but there was no confirmation that it worked with push/pull at an external site. 

Without an account number, it is a non-starter, since CDN Tire does not display those. BUT even with an account #, it is not a guarantee as the receiving bank can still reject the transaction.

HISAhopper said

Also wondering whether or not the interac e-transfer works with CT HISA so one can at least transfer in some small fund.  

CT is not listed on the list or participating banks on the Interac site so it looks like that is not even possible:
https://www.interac.ca/en/about/network-participants/

February 26, 2021
7:58 am
Ed
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I set up a link in my Tangerine account to the Canadian Tire Bank using the following information:
Institution # 338
Transit # 01012
Account # ~~~~~~~~~~~~
Requested a transfer of funds out of Tangerine to the CT Bank on a Monday. Funds left Tangerine on Tuesday and we’re deposited the same day at the CT Bank. Did that twice.

February 26, 2021
8:37 am
Norman1
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In April 2019, someone wrote on RedFlagDeals how the account number and other necessary direct deposit info for their Canadian Tire Bank HISA was available online:

mouseswimming (Apr 6th, 2019 10:51 am) #33

sauro88 wrote:

This is silly... where do you find the HISA account number, I only see my customer number.

go to: account services -> direct deposit request.

type any information, and continue, you will see all information you needed.

The two microdeposits from Tangerine Bank did show up in the Canadian Tire Bank HISA. But, they were returned by Canadian Tire Bank!

February 26, 2021
11:27 am
smayer97
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smayer97 said
... even with an account #, it is not a guarantee as the receiving bank can still reject the transaction.  

Case in point:

Norman1 said
...
The two microdeposits from Tangerine Bank did show up in the Canadian Tire Bank HISA. But, they were returned by Canadian Tire Bank

February 26, 2021
11:28 am
smayer97
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Ed said
I set up a link in my Tangerine account to the Canadian Tire Bank ...
Requested a transfer of funds out of Tangerine to the CT Bank on a Monday. Funds left Tangerine on Tuesday and we’re deposited the same day at the CT Bank. Did that twice.

So did your deposits stick or did CT Bank return them like they did for Norman1?

February 27, 2021
10:48 am
Ed
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smayer97 said

Ed said
I set up a link in my Tangerine account to the Canadian Tire Bank ...
Requested a transfer of funds out of Tangerine to the CT Bank on a Monday. Funds left Tangerine on Tuesday and we’re deposited the same day at the CT Bank. Did that twice.

So did your deposits stick or did CT Bank return them like they did for Norman1?  

So far, so good, knock on wood! In my case, the amounts transferred were the maximum on both days. CT Bank would have been foolish to return them.

February 27, 2021
1:01 pm
smayer97
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Ed said

So far, so good, knock on wood! In my case, the amounts transferred were the maximum on both days. CT Bank would have been foolish to return them.  

So that presumably means that the micro-deposits from Tangerine were accepted? This would be unlike the experience by Norman1. I wonder how that did not get rejected?

February 28, 2021
9:26 am
Ed
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smayer97 said

So that presumably means that the micro-deposits from Tangerine were accepted? This would be unlike the experience by Norman1. I wonder how that did not get rejected?  

Norman1 cites a case that happened almost a year ago. My micro-deposits were made two weeks ago. Best way to find out who’s right is to give it a try. Doesn’t cost anything and you may even make a few cents. Aha...

February 28, 2021
11:46 am
Norman1
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It looks like linking a Canadian Tire Bank account at Tangerine was hit-and-miss!

About six days after mouseswimming reported in that RedFlagDeals discussion that his Tangerine microdeposits were returned, another person reported a successful link with his Tangerine microdeposits:

Darkman (Apr 12th, 2019 11:56 pm)

In any case ... I was initially thinking that it [the Canadian Tire Bank account] got locked cuz of "Tangerine linking" business...

Supervisor kept on telling me ... Canadian Tire bank can NOT be linked ... and if it "gets linked" ... LOL ... then it's "hit and miss" basically ... with no guarantee it will work ... or if it will work forever ... or if it will work sometimes but not other times... haha

Bottom line is ... 2 Tangerine deposits were there ... I verified them ... and Tangerine said it's successfully linked now ...

Should check later maybe ... if Canadian tire reversed it and cancelled it ...

But even supervisor told me ... if it's in .. it should be ok ...

So not sure why they'd cancel the person's [mouseswimming's] tangerine [microdeposits] (as they stated in earlier posts).

Could have been something off about the microdeposits from Tangerine Bank. Maybe a mismatch in the account owner names between the Tangerine Bank account and the Canadian Tire Bank account?

If the Tangerine Bank account was for "Bob Smith" and the Canadian Tire Bank account was for "Robert James Smith", then the incoming microdeposits from Tangerine Bank would be for payee "Bob Smith". That would not match exactly the owner "Robert James Smith" of the Canadian Tire Bank account.

February 28, 2021
12:32 pm
Loonie
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I don't think they look that closely at names, if at all. If they did, a lot of us would have a lot more problems.
I have the impression these transactions are all done by numbers.
You can't take everything everyone posts at face value.

However, i have known CTB to be a PITA before, so nothing would surprise me.
When my stepfather died a few years ago, they required an original death certificate to close the credit card account, but they never sent the refund owed to him. We did not know there was money owing to him (well over $1000) until we had access to more of his papers recently. WHEN ASKED, they sent a cheque for reimbursement. This should have been automatic. You can be sure that if he'd owed them, they would have been actively pursuing it.

February 28, 2021
3:52 pm
Norman1
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Payee name is a mandatory part of the "C" record segment for the direct deposit, described in the Payments Canada Standard 005.

I think it's up to the receiving financial institution what to do when the payee name in the incoming direct deposit doesn't exactly match the name on the receiving account. Reason 914 (INP - Incorrect Payor/Payee Name) is provided should the financial institution decide to bounce the direct deposit.

mouseswimming wrote that he was going to contact Canadian Tire Bank to find out why the bank returned his two Tangerine microdeposits. But, he never followed up with what he found.

February 28, 2021
7:09 pm
Loonie
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The name may be required but I doubt very much that they ever look at it after the initial link has been set up. That's why they have numbers, to avoid confusion over names.
Or perhaps they just programme their system to accept the names given to them at the linked FI.

Most of my tax slips give my first and last names but some give middle initial as well. Cheques differ similarly. No transfer has ever been rejected except a couple that were over the dollar limits for transfers.

March 1, 2021
10:12 am
Norman1
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Yes, for those reasons, it is more complicated for the receiving financial institution than just checking for an exact match between the payee name and the name on the receiving account. It wouldn't look good if the institution returned direct deposits for "A D James", "Alice James", or "Alice D. James" to an account for "Alice Diana James".

Tangerine did originate the microdeposits with the correct institution, transit, and account number in the failed link attempt. mouseswimming uploaded a screen capture that shows the 7¢ and 11¢ Tangerine microdeposits credited to his Canadian Tire Bank HISA. They were followed by matching same-day debits for returning them back to Tangerine.

March 1, 2021
11:06 am
Alexandra
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All tax slips have your Social Insurance Number. All slips have your current mailing address with postal code. When clarifying ID in a bank call, they pretty well ask you your address with postal code & the last three or four digits of your SIN number any many times your birth date. There are many John and Jane Smiths, Browns and Jones' out there to rely just on a name.

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