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Link Motive savings account from Tangerine?
July 30, 2019
7:43 pm
commonboy
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From Tangerine, can I setup a link to my Motive savings account and pull funds from Tangerine side without incurring fees from Motive (i.e. using the bank number/transit from the Motive PAD form and my Motive savings account number), or do I need to setup another chequing account with Motive for this to do the pull?

July 30, 2019
9:20 pm
Canadianbull
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Yes you can. Where is the confusion?
Log In to Tangerine
Click on profile and settings
Click on External link
Enter Motive...
transit #, Institution # & account #.
Within 3 days Tangerine will deposit 2 small amounts into your Motive account.
Log in to Tangerine
Verify both deposits.
After verification you should be able to transfer funds from Tangerine to Motive and vice versa. There is no fee.

July 31, 2019
4:40 am
file
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Just be aware that it depends on which Motive Savings account you have as to cost. The normal one (earning 1.5% interest) has unlimited transactions while the Savvy one (earning 2.8% interest) has 2 free withdrawals a month (internal transfers don't count against this).

This means that if your account is the Savvy one you can only pull funds twice for free, before the $5/transaction fee kicks in.

July 31, 2019
6:08 am
MG
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Well I never had any luck linking the old Canadian Direct Financial (predecessor to Motive) from my Tangerine account. Actually I was able to link originally and even verified the two micro deposits but when it came to actually moving my funds, the transfer always got bounced back. Both sides blamed each other. In the end, Tangerine basically said that not every bank can be linked in. sf-confused

So I would be interested to hear if you can now link Motive Financial.

July 31, 2019
7:05 am
Norman1
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It is possible for a financial institution to allow electronic direct deposits to an account but not pre-authorized debits.

The electronic direct deposits from the micro deposits would be posted. But, the electronic pre-authorized debits from a pull attempt would be bounced with reason 907 (No debit allowed - NCP).

Another possibility is the payor or payee name on the subsequent pre-authorized debits is off and doesn't exactly match the name on the account. The financial institution could bounce such pre-authorized debits with reason 914 (Incorrect payor/payee name - INP).

July 31, 2019
7:07 am
Peter
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I've always had Tangerine linked to my chequing account at Motive. The chequing account is free and I don't mind the hassle of having to transfer between accounts internally at Motive. (I know this doesn't answer the question about whether I've linked directly to the Motive savings account; I've never tried.)

July 31, 2019
7:19 am
Canadianbull
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MG said
Well I never had any luck linking the old Canadian Direct Financial (predecessor to Motive) from my Tangerine account. Actually I was able to link originally and even verified the two micro deposits but when it came to actually moving my funds, the transfer always got bounced back. Both sides blamed each other. In the end, Tangerine basically said that not every bank can be linked in. sf-confused

So I would be interested to hear if you can now link Motive Financial.  

I linked tangerine with Motive last week and it is working fine.

July 31, 2019
8:23 am
Nehpets
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How many external accounts are permitted to be linked to a Motive account?

Stephen

July 31, 2019
10:17 pm
Canadianbull
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Nehpets said
How many external accounts are permitted to be linked to a Motive account?

Stephen  

I am sure how many. So far I have 4 and looking forward to linked 1 more.

August 1, 2019
9:43 pm
mubulon3
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Motive's limit is 5 linked accounts.

August 1, 2019
10:01 pm
Norman1
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That is Transfers FAQ #7:

7. How many external bank accounts can I link to my Motive account?

You can link up to five (5) external Canadian financial institution accounts with your Motive account.

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