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WARNING - Canadian Tire Bank
February 22, 2022
12:38 pm
COIN
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smayer97 said
Yes, works with Enbridge and Toronto Hydro and Toronto Property Tax. Even for Toronto Water -- TIP : look for Toronto Taxes for property and TOR UTL for water. 

I also tried adding a Mastercard and VISA credit card account and it didn't work.

February 22, 2022
1:03 pm
Norman1
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The Triangle MasterCard biller list is not the full list of billers one finds elsewhere.

One won't be able to bill pay another bank's credit card to get Canadian Tire money on such a credit card payment. That's done on purpose.

I suspect Scotia iTRADE is also not in their list. So, one can't bill pay to one's Scotia iTRADE TFSA account and collect Canadian Tire money on one's TFSA contribution.

February 22, 2022
1:23 pm
semi-retired
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Signed up for their credit card back in November.100.$ bonus.Supposed to get the bonus after using the card for even a minimum purchase.Used it early in Dec.Called middle of Jan wondering where the 100$ was.Was told should be there by Jan18th.Called again yesterday wondering where the 100$ was.Was on hold for about 10 minutes.Was told she just added it into my Canadian Tire money account.Will check my receipt when I purchase next item at CTC.If anyone else on here signed up for the same promo,check to make sure you got the 100$.

February 22, 2022
1:41 pm
savemoresaveoften
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semi-retired said
Signed up for their credit card back in November.100.$ bonus.Supposed to get the bonus after using the card for even a minimum purchase.Used it early in Dec.Called middle of Jan wondering where the 100$ was.Was told should be there by Jan18th.Called again yesterday wondering where the 100$ was.Was on hold for about 10 minutes.Was told she just added it into my Canadian Tire money account.Will check my receipt when I purchase next item at CTC.If anyone else on here signed up for the same promo,check to make sure you got the 100$.  

u may have a happy surprise and see the 'original' $100 to hit ur account as well. I know someone who was missing it, called in and they credit manually. Then later on the system finally generate $100 and add to the account again 🙂

February 22, 2022
1:52 pm
Bill
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Re Norman1's observation, my home and car insurance is with TD Insurance, I couldn't find it on their biller list.

February 22, 2022
2:14 pm
COIN
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semi-retired said
Signed up for their credit card back in November.100.$ bonus.  

I mentioned to the Board a while back that I was offered $150 only to find out that one (some?) people were offered $250. I called CTC and asked for the $250 bonus and was told "no".

February 22, 2022
9:39 pm
smayer97
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Norman1 said
The Triangle MasterCard biller list is not the full list of billers one finds elsewhere.

One won't be able to bill pay another bank's credit card to get Canadian Tire money on such a credit card payment. That's done on purpose.

I suspect Scotia iTRADE is also not in their list. So, one can't bill pay to one's Scotia iTRADE TFSA account and collect Canadian Tire money on one's TFSA contribution.  

iTRADE and TFSA's are NOT bills. Trying to process this on ANY card would be considered a cash advance, not a bill payment. So it makes sense it is not listed.

February 22, 2022
9:47 pm
smayer97
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COIN said

smayer97 said
Yes, works with Enbridge and Toronto Hydro and Toronto Property Tax. Even for Toronto Water -- TIP : look for Toronto Taxes for property and TOR UTL for water. 

I also tried adding a Mastercard and VISA credit card account and it didn't work.  

The point is that you can use the CT MC for a lot of places that DO NOT accept credit card payment OR charge a fee for using one.

Again the way CT does this is that they make it appear to the receiver as it if the payment is from a bank account. They do this on the back end, transparently to you the cardholder and the receiver. So when you make a payment to one of these places using your CT MC, the receiver has no idea it is a credit card payment.

The key to setting this up is NOT by contacting the biller and giving them the CT MC. Instead, you set up manual or scheduled payments to the biller via the CT website. CT handles the rest behind the scenes.

February 22, 2022
10:17 pm
smayer97
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Bill said
Re Norman1's observation, my home and car insurance is with TD Insurance, I couldn't find it on their biller list.  

Sadly, I cannot find the TD or even Tor Dom, etc.

But for reference, pwr1019 created a list of all payees available, as of 2018. It is a little out of date (it does not even show Toronto Taxes or Tor UTL for water and SWM) but it can still help find some entries that may be entered in an obscure way.

https://docs.google.com/spreadsheet/ccc?key=0AmcxFWIi-6fNdEx0RVdwNW8zN0U5SWRxWGE5NmZaNlE#gid=0

original post: https://www.highinterestsavings.ca/forum/credit-card-reward-programs/paying-tax-utility-and-insurance-bills-with-canadian-tire-credit-cards/#p61904

February 23, 2022
5:14 am
Norman1
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smayer97 said

iTRADE and TFSA's are NOT bills. Trying to process this on ANY card would be considered a cash advance, not a bill payment. So it makes sense it is not listed.

Scotia iTRADE is a biller. I bill pay it, like a utility bill, to add funds to my Scotia iTRADE brokerage accounts, including RRSP and TFSA accounts.

It can be done through online banking at many financial institutions. Just not through that special bill pay service for the Triangle MasterCards.

June 12, 2022
8:19 am
gicbits
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I have become suspicious of Canadian Tire Bank ever since I received a notice in the mail detailing changes they are making to their TOS.

One of the additions is this:

We can close your account for any of the following reasons:

We choose to.

That was literally one of their reasons. No reason behind it. So I drastically reduced the amount I keep in my savings account with them.

June 12, 2022
9:32 am
tottori88
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same here, when you see them giving to be competitive---sign to move $ away from them.

June 12, 2022
9:40 am
Bill
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Canadian Tire is all about their credit card, google their bank and all you'll get is credit card info. I keep my accounts there only for the roughly 5-10% of the time they've temporarily had top tier rates, every few years they seem to want HISA money for a while for some reason, I'd never use it for anything other than that.

June 12, 2022
10:02 am
Loonie
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While I am not a fan of Cdn Tire, it seems to me that any CC company can withdraw their card at any time anyway. They all periodically remind customers that the cards are the property of the CC company. I don't really think that this is any different, but perhaps more explicit.

June 12, 2022
5:21 pm
Bill
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gicbits, the way I read the new terms is the "we choose to" refers not to account closure but to stopping access to your account. It's in the section dealing with fraudulent or unusual activity, etc, i.e. seems like they want to be able to freeze your account quickly if they feel the need.

Re account closure they say they can do so without providing a reason upon giving you 30 days written notice. So not much different.

But I personally wouldn't see keeping a bunch of money in the savings account as being under threat by these terms, and I assume a bank can't just keep your money if they do arbitrarily close your account.

June 12, 2022
10:05 pm
AltaRed
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Based on family members in the banking system, an account would normally only be closed if account privileges have been abused, e.g. writing bad cheques, or the account holder no longer meets the conditions qualifying for an account, e.g. residency. Notice is given and the account holder can move funds voluntarily, or the institution writes the account holder a cheque for the balance of the account.

June 12, 2022
11:24 pm
Norman1
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That is not out of the ordinary. EQ Bank can "choose to" do the same according to their Savings Plus Account Agreement:

Suspension or termination of Account or Services

You acknowledge that we [Equitable Bank] may, in our sole discretion, suspend or terminate your [Savings Plus] Account, or your access to your Account. In the event your Account is suspended or terminated, or your access to your Account is suspended or terminated, we will notify you in writing to the email address we have on file for your Account. …

June 13, 2022
12:35 am
Loonie
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EQ might as well have added, "under no circumstance will we send you a signed document by Canada Post or courier to confirm this arrangement and inform you of how you will get YOUR money back."

EQ's excessive reliance on email is pathetic. It's one of the reasons I don't deal with them much. I sure hope they don't all go down this path.

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