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Anyone could link 2 Tangerine accounts?
March 13, 2018
8:45 pm
Save2Retire@55
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Hello, This is a funny scenario! I tried to link our 2 Tangerine accounts using Link External option but it tells me the information is wrong 😀

Tangerine doesn't like itself! Is there an option I am missing somewhere to link another Tangerine account?

Thanks

March 13, 2018
11:34 pm
Loonie
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I'm not sure I understand you correctly. Can't you just transfer between Tang accounts? Not sure why you would need another kind of link.

March 14, 2018
12:06 am
Rick
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Not sure. Why would you need to? We never kept separate accounts other than the registered accounts. I think your only option is to move cash from a joint account that you can both access through each of your log-ons. email transfer might work, but seems kind of redundant. Motive has an "other client" option I just enter the account number into when selecting where to send the trf. Couldn't find how to do similar on Tang. Guess they aren't forward thinking that far ahead.

March 15, 2018
7:47 pm
Save2Retire@55
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Loonie said
I'm not sure I understand you correctly. Can't you just transfer between Tang accounts? Not sure why you would need another kind of link.  

The reason is very simple. We get money in my Tangerine account which I want to set up an auto-transfer to transfer a portion of it to the other Tangerine account in a weekly basis. I can't do this without having the accounts linked (Or I couldn't figure out how to do it). We didn't make these accounts joint accounts.

March 16, 2018
12:10 pm
Loonie
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i see. In my experience, the owner of account A can transfer money to account B, owned by another person - at least on the phone. But I only did it on a one-off basis.
Or perhaps you can set up a third, intermediary, joint account, and funnel through there with two transfers.
You may need to phone and get in the queue to find out!

March 16, 2018
12:53 pm
Kidd
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If the future deals at tangerine are only for "new" accounts and not new deposits. Maybe starting a new account, at the right time, might be a good idea. Then link the accounts together to transfer the funds

March 16, 2018
4:59 pm
Save2Retire@55
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Kidd said
If the future deals at tangerine are only for "new" accounts and not new deposits. Maybe starting a new account, at the right time, might be a good idea. Then link the accounts together to transfer the funds  

Isn't it for new accounts and new customers? I am not sure.

March 16, 2018
5:00 pm
Save2Retire@55
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Loonie said
i see. In my experience, the owner of account A can transfer money to account B, owned by another person - at least on the phone. But I only did it on a one-off basis.
Or perhaps you can set up a third, intermediary, joint account, and funnel through there with two transfers.
You may need to phone and get in the queue to find out!  

It is not easy to get someone on the phone to talk to. Anyway, I am doing a work around now. Moving from my Tangerine to Simplii and then have the auto payment setup to pull the fund twice a week from Simplii.

March 17, 2018
4:55 pm
Rick
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Whatever works for you. Don't think I'd like having my funds sitting in limbo while they move between banks twice a week. Turns out the joint checking account I opened works instantaneously, either one of us can access it from our individual log on, and an occasional transfer takes care of the inactive account requirements.

March 18, 2018
4:01 am
Loonie
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I think I'm with Rick, but, of course, it's up to you.
Perhaps, when you have more time to wait on the phone, you might set it up through a Tangerine joint account, so that you wouldn't lose any interest or need to wait for transfers to go through. One person transfers it into joint and the other transfers it out - at least technically. Transfers within Tangerine go through instantaneously.

If you and your spouse have insomnia, I find about 3-5 am is a pretty good time to get through!sf-laugh It would take both of you on the phone to open a joint account.

March 18, 2018
6:57 am
Bill
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Save, your first post indicates you tried via Link EXTERNAL, so there's your answer why that didn't work.

You can set up recurring transfers within any Tangerine accounts you are named on.

And though there are a bewildering (to me) number of ways to transfer money to people, I might be wrong but I don't see how you could ever link non-joint accounts owned by different people, i.e. A could drain B's account.

March 18, 2018
2:59 pm
Save2Retire@55
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True. I should look into having a joint account and it is good to know it works instantly. I think I am doing it wrong but was easier than setting up a new account.

This is a move to their Mutual Funds so there is no real interest lost. I might be ending losing or gaining depends on the market price on that day 🙂

Thank you

March 18, 2018
4:59 pm
Norman1
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Bill said

And though there are a bewildering (to me) number of ways to transfer money to people, I might be wrong but I don't see how you could ever link non-joint accounts owned by different people, i.e. A could drain B's account.  

For that reason, Tangerine, as well as ING Direct in the past, does not allow one to link someone else's bank account.

Long ago, an ING Direct telephone rep mentioned some of the linking crap some people had tried to pull. Deposit a paycheque and try to link the employer's bank account. Deposit an alimony cheque and try to link the ex-spouse's account! sf-surprised

The pre-authorized debits (PAD's) generated for the linked accounts are supposed to be Funds Transfer PAD's, for pulling money from a different account of the same person. They are not the Personal PAD's for billers, like utilities, to pull money from another person's (presumably a customer's) account.

March 19, 2018
4:25 pm
Save2Retire@55
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Norman1 said

For that reason, Tangerine, as well as ING Direct in the past, does not allow one to link someone else's bank account.

 

I don't fully get this argument. Can't they force people to do the same authorization process currently in place for external accounts? Can't they deposit 2 small fees and request confirmation before the link? This argument can be applied to any 2 linked accounts regardless of being within Tangerine or between Tangerin and another bank.

March 19, 2018
6:25 pm
Norman1
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Norman1 said

For that reason, Tangerine, as well as ING Direct in the past, does not allow one to link someone else's bank account.
 

Save2Retire@55 said

I don't fully get this argument. Can't they force people to do the same authorization process currently in place for external accounts? Can't they deposit 2 small fees and request confirmation before the link? This argument can be applied to any 2 linked accounts regardless of being within Tangerine or between Tangerin and another bank.  

The two micro deposits are for confirmation and not authorization.

The authorization required for clearing system Rule H1 is from ratifying a preauthorized debit agreement. The Tangerine customer can ratify the agreement on behalf of the owner of the external account only when the Tangerine customer is also an owner of the external account.

The challenge is that linked accounts with Tangerine allow one to not only push but also pull funds from the linked account.

Some financial institutions allow one to add someone else's account with the same financial institution as a payee. One can then push money to the payee's account. But, one cannot pull money from the payee's account. I think that is commonly used by a parent to send money quickly to a child at university without doing an expensive wire transfer or an Interac e-Transfer.

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