Transfer Limit | Canadian Tire | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

sp_Feed Topic RSS sp_TopicIcon
Transfer Limit
December 9, 2021
6:05 pm
commonboy
Member
Members
Forum Posts: 9
Member Since:
February 14, 2019
sp_UserOfflineSmall Offline

What is the transfer limit to transfer funds to another bank? I tried to transfer 100,000 out but got an error saying I exceeded the transfer limit.

December 9, 2021
6:51 pm
MG
Member
Members
Forum Posts: 173
Member Since:
February 16, 2013
sp_UserOfflineSmall Offline

I just looked at their Terms and Conditions pamphlet and do not see any limits mentioned. I suggest you break up your transfer request into smaller amounts, say $25K, $35K, and $40K. I like to make them all different so I can "track" the transfers. If that does not work, you will need to call in tomorrow and the customer service rep will arrange it for you over the phone. Good luck!

December 10, 2021
3:12 am
rodeworthy
Member
Members
Forum Posts: 103
Member Since:
February 1, 2016
sp_UserOfflineSmall Offline

commonboy said
What is the transfer limit to transfer funds to another bank? I tried to transfer 100,000 out but got an error saying I exceeded the transfer limit.  

I just did the same thing. Called them for an override. No problem.

December 10, 2021
4:18 am
Alexandre
Member
Members
Forum Posts: 503
Member Since:
November 8, 2018
sp_UserOfflineSmall Offline

I decided to transfer $90,000 from CT Bank last week. Single transfer failed because of transfer limit, but back to back transfers of $50,000 and $40,000 went through without issues.

December 10, 2021
5:01 am
KamWest
Toronto
Member
Members
Forum Posts: 144
Member Since:
December 20, 2019
sp_UserOfflineSmall Offline

commonboy said
What is the transfer limit to transfer funds to another bank? I tried to transfer 100,000 out but got an error saying I exceeded the transfer limit.  

I can tell you from experience there is no ceiling

I have pulled in and transferred out amounts significantly higher and had confirmed that before opening the account.

I use CTF as an intermediate account to move things to other accounts because of how easy it is to move in and out. I use them to push to other financial organizations and also to pull out. Some companies like motus take 3 business days to even initiate a transfer so sometimes its quicker just to pull with CTC.

Also with my history they don't question it anymore.

December 10, 2021
5:51 am
savemoresaveoften
Member
Members
Forum Posts: 868
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

just do multiple clips of $50k, same day works.

Tangerine used to work too but they closed that loop hole.

December 10, 2021
6:10 am
bhuc
Member
Members
Forum Posts: 35
Member Since:
October 5, 2017
sp_UserOfflineSmall Offline

savemoresaveoften said
just do multiple clips of $50k, same day works.

Tangerine used to work too but they closed that loop hole.  

What loop hole did Tangerine close ?
Multiple tranfers max limit per transaction ?

December 10, 2021
6:20 am
savemoresaveoften
Member
Members
Forum Posts: 868
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

bhuc said

What loop hole did Tangerine close ?
Multiple tranfers max limit per transaction ?  

yup. Used to be able to do it. Now have to call in to do amount over 50. Still doable but with online chat never available (they prob have 1 rep for that if its even true) and maybe 1.2 staff for answering the phone, its becoming impossible to get a human's attention....

December 11, 2021
2:33 pm
speedwagen
Member
Members
Forum Posts: 59
Member Since:
April 9, 2013
sp_UserOfflineSmall Offline

KamWest, you evidently haven't used their new platform...what you said is no longer the case.

Not sure what Alexandre is talking about 'cause I tried that end Nov & discovered the $50K limit thru trial & error, but when I tried to transfer the rest, was blocked. I had to call the next day & got a sup to overide & back-date the rest.

What smso suggested works @ EQ & Manulife, but not @ Crappy Tire & Wyth. Furthermore, Wyth won't allow overides either...$50K/day...period!

It's coming to the point that banks want to control our money...if we don't fight back, they will. I do & they listen, but if the rest of you don't, 1 rebel won't make a difference.

December 11, 2021
3:10 pm
KamWest
Toronto
Member
Members
Forum Posts: 144
Member Since:
December 20, 2019
sp_UserOfflineSmall Offline

I will keep you informed... yes you are correct I was using the old site and did significantly higher transfers with no assistance.

Right now the funds are at CTFC so I will have to wait until I transfer again to see if the limits are in place on my account.

Because of the large amounts I usually transfer I hope they have some type of system in place but all in all one phone call is not going to make me see red unless I am on hold for 20 minutes.

December 11, 2021
5:38 pm
Alexandre
Member
Members
Forum Posts: 503
Member Since:
November 8, 2018
sp_UserOfflineSmall Offline

speedwagen said

Not sure what Alexandre is talking about 'cause I tried that end Nov & discovered the $50K limit thru trial & error, but when I tried to transfer the rest, was blocked. I had to call the next day & got a sup to overide & back-date the rest.
 

On December 1st I did two outbound transfers back to back, on CT Bank new web site. First was for $50,000 exactly, second for less. Both are listed as same day transfers in Details, also funds arrived to destination and were deposited.

Perhaps, it were a glitch in the matrix.

December 12, 2021
4:58 am
savemoresaveoften
Member
Members
Forum Posts: 868
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

speedwagen said
KamWest, you evidently haven't used their new platform...what you said is no longer the case.

Not sure what Alexandre is talking about 'cause I tried that end Nov & discovered the $50K limit thru trial & error, but when I tried to transfer the rest, was blocked. I had to call the next day & got a sup to overide & back-date the rest.

What smso suggested works @ EQ & Manulife, but not @ Crappy Tire & Wyth. Furthermore, Wyth won't allow overides either...$50K/day...period!
 

I just did 2 same day transfer each $50k out of CanTire earlier this week and it did it with no issue. That is after I tried to do 1 clip of $100k and was denied. Did 2 clips of $50k each same day transfer within the same login session worked like a charm.
No such luck at Tangerine and most CU's Me-to-me transfer either.

December 12, 2021
5:04 am
KamWest
Toronto
Member
Members
Forum Posts: 144
Member Since:
December 20, 2019
sp_UserOfflineSmall Offline

I have set up my Saven account and am just rying to get it linked to my Canadian Tire account. I phoned in and they assured me I can transfer any amount in and out without limits.

I was holding off moving all funds to saven but I think I will proceed now especially since there are no transfer limits and they have a higher interest rate.

December 12, 2021
6:47 pm
smayer97
Member
Members
Forum Posts: 481
Member Since:
September 29, 2017
sp_UserOfflineSmall Offline

Keep in mind that there are not limits on pulls, only on pushes.

December 15, 2021
3:24 pm
speedwagen
Member
Members
Forum Posts: 59
Member Since:
April 9, 2013
sp_UserOfflineSmall Offline

Contrary to smayer97's assertion, my situation WAS for a pull, so it goes both ways.

Alex & smso, you both accomplished the same thing, which can't be a coincidence. Upon further review, my situation actually arose beg Nov NOT end. I can only assume that my uprising made an impact, which is somewhat surprising since, despite my email to the CEO, which resulted in a courteous & sympathetic PR call from his delegate, I was informed that their restrictions were going to remain in place.

It would appear that they've chosen to relax the daily limit since then & convert to a transactional limit like EQ & Manulife, even though I told them that I won't be doing any sizeable business with them in the foreseeable future unless advised of a change in policy.

I also had a somewhat productive conversation with Wyth's CEO, who took a more open & proactive stance & advised that they would consider adjusting their policy to accommodate big money clients...stay tuned.

December 15, 2021
7:00 pm
smayer97
Member
Members
Forum Posts: 481
Member Since:
September 29, 2017
sp_UserOfflineSmall Offline

Interesting on both counts... that a pull has a limit.... that one is new on me... never seen any bank limit pulls... that is like limiting a chq amount. Odd.

And a limit by CT because they had informed me that there was NO limit.... but things can and do change...

good to know.

December 16, 2021
5:51 am
savemoresaveoften
Member
Members
Forum Posts: 868
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

I think the trend has been and will continue is for all FIs to limit online limit in terms of moving money around. Call me evil but the true reason behind it is "makes it a hassle, chances are people too lazy to do it and keep it there". The advertised reason is "to prevent online fraud, money laundering...."
At the same time, one can always call in to move bigger amount, if you can get the live operator's attention.
Tangerine is the worst, their online chat is now NEVER available, call me back feature is offline half the time, again its the tactics of "make it harder to..."

December 16, 2021
6:02 am
KamWest
Toronto
Member
Members
Forum Posts: 144
Member Since:
December 20, 2019
sp_UserOfflineSmall Offline

I thought about this and decided to move my funds out of Canadian Tire if it restricts my transfers. Now there might be an excemption on my account because of the significant amounts contained inside but seriously if I have to call in I am gone.

Reason...

The lack of cheques in or out means I have no way to move my funds if I cannot get through on the phone lines.

With other banks like motus where it takes 3 business days to even initiate a transfer I simply write a cheque and deposit it to the receiving account. This effectively bypasses that waiting time and I only have to wait for the cheque to clear with no loss of interest.

December 29, 2021
2:21 pm
mechone
Member
Members
Forum Posts: 62
Member Since:
January 28, 2015
sp_UserOfflineSmall Offline

Anyone know how long it takes them to open account, went online, got the package, sent in the cheque, they cashed it 22nd

Please write your comments in the forum.