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Email this5:42 am
November 8, 2018
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Sorry, can't figure better topic name.
So, here is the summary: if you pull funds from another FI to your Tangerine account, the date Tangerine considers these funds to be in your account is the day you requested the pull. Not when funds actually appear in Tangerine account.
Which could be significant difference, of more than a week, if you pull TFSA or RRSP.
Why does it matter? For me, it did.
I have pulled my RRSP from another FI in expectation of Tangerine promotion, but requested pull before promo start date.
On promo start date pull has not gone through yet, funds did not arrive.
I applied for promo and got confirmation.
Funds appeared in Tangerine account few days later.
I expected to see promo interest applied to my funds, but it weren't. Called Tangerine, was told that funds were considered in my account when I made transfer request, which is few days before promo start.
I've lost few hundred dollars in promo interest waiting till end of month when I have found promo does not apply.
There is also good news for someone: if you requested funds pull immediately after the day your promo started, you should be getting bonus interest from that day, not from the day funds appeared in your Tangerine account.
8:14 am
December 18, 2024
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Alexandre said
Sorry, can't figure better topic name.So, here is the summary: if you pull funds from another FI to your Tangerine account, the date Tangerine considers these funds to be in your account is the day you requested the pull. Not when funds actually appear in Tangerine account.
SAME AS OAKEN. AND PULL FROM SHOWS THE MINUS A FEW DAYS LATER.Which could be significant difference, of more than a week, if you pull TFSA or RRSP.
YOU HAVE TO CREATE AND SIGN “TRANSFER” FORMS FOR TFSA, RRIF OR RRSP.I have pulled my RRSP from another FI in expectation of Tangerine promotion, but requested pull before promo start date.
On promo start date pull has not gone through yet, funds did not arrive.
YOU MIGHT WANT TO CONTACT TANGERINE AND THE OTHER FI OF THE PROCESS AND ANY TRANSFER FEES.
9:06 am
November 5, 2022
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Tang counts the money in the account the day the pull was initiated.
9:13 am
January 12, 2019
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.
@InterestThis ⬆️
. . . and so does Oaken, and several others.
- Dean
" Live Long, Healthy ... And Prosper! "
10:25 am
November 8, 2018
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Yes, learned my lesson.
And yet, this is what promo says: "We’ve totalled up the balances of your eligible Savings as they were on June 5, 2025 to get your total balances per Account Type."
According to my Tangerine account page, funds from pull weren't there on June 5. The balance reported to me was $0.
Yet, somewhere in back office the balance on my account was non-zero. I must say, substantially non-zero.
Out of these two, Tangerine chooses to use account balance which is invisible to me.
Will convert funds to GIC from Tangerine, just upset I lost almost one month waiting for bonus interest which was not there. If I knew that rule, I would have bought GIC as soon as funds appeared for me in my Tangerine account.
12:34 pm
September 30, 2017
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Obscure it may be. It is written in a section in the promo T&C of mine.
7. In the case of deposits made to Applicable Accounts by means of a T2033 form, those deposits will earn interest at the Posted Rate payable on the Applicable Account from the time the transfer request is submitted to Tangerine and while the funds are in transit. Upon receipt of the transferred funds by Tangerine, those funds will be included in the calculation of Eligible Deposits as explained above, provided that the Offer Period hasn’t already ended when the funds are received.
1:50 pm
December 12, 2009
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This is pretty standard, unless I'm misunderstanding things here, and is a feature not a bug. 🙂
It's similar to when you make an online banking bill payment, billers will usually use the transaction date of the bill payment, not the date the bill payment was received by the payee, when crediting your account with them.
Cheers,
Doug
3:58 pm
April 6, 2013
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Direct RRSP transfers are not the same as pulling funds from a non-registered chequing account or savings account. There's no pre-authorized debit involved with a direct RRSP transfer. RRSP accounts are usually not allowed to be debited using pre-authorized debits.
When I pull funds into my non-registered Tangerine savings account, the funds are credited to the account the next business day, not the day I submit the pull request.
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