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Tangerine daily transfer limit to external accounts
September 23, 2020
4:58 am
Alexandre
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It appears, Tangerine now enforces $50,000 daily transfer limit to external accounts. Trying to send more in a single transfer generates an error message.

Error found
This transaction would put you over your daily limit. Please give us a call at 1-888-464-3232 or 416-756-2424 for further help.

I remember Tangerine had $50,000 transfer limit before, but it was easily bypassed by making multiple transfers under $50K each. Not any longer, it appears.

Also, this is combined daily limit, not per each external account. An attempt to send any amount to a different external account, after $50,000 transfer was successful, results in same error message.

September 23, 2020
5:53 am
JPenterprise
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Thanks for letting us know that we can only transfer max. of $50,000 online per day. The only way is to call agent to make the transfer if more than $50,000.

September 23, 2020
10:48 pm
Rick
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JPenterprise said
Thanks for letting us know that we can only transfer max. of $50,000 online per day. The only way is to call agent to make the transfer if more than $50,000.  

....or pull it from the receiving FI instead. I did 2 pulls from Tang Sep 1. Both in excess of 50K and both went through to separate accounts without issue. Plus I received double interest for the day it took to process.

https://www.highinterestsavings.ca/forum/tangerine-bank/push-pull-limits-from-tangerine-questions/

https://www.highinterestsavings.ca/forum/tangerine-bank/eft-transfer-limit/

September 24, 2020
4:31 am
topgun
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Rick said

....or pull it from the receiving FI instead. I did 2 pulls from Tang Sep 1. Both in excess of 50K and both went through to separate accounts without issue. Plus I received double interest for the day it took to process.

https://www.highinterestsavings.ca/forum/tangerine-bank/push-pull-limits-from-tangerine-questions/

https://www.highinterestsavings.ca/forum/tangerine-bank/eft-transfer-limit/  

Double nothing is still nothing.

Have a Great Day

September 25, 2020
9:31 am
Rick
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topgun said

Double nothing is still nothing.  

While .15% for an extra day won't help pay off your mortgage, the few cents interest on a six figure transfer was not the point... bypassing their transfer limits was. The only downside is the funds are on hold when pulled instead of pushed.

September 25, 2020
10:33 am
topgun
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Rick said

While .15% for an extra day won't help pay off your mortgage, the few cents interest on a six figure transfer was not the point... bypassing their transfer limits was. The only downside is the funds are on hold when pulled instead of pushed.  

I try to push when possible to avoid HOLDS.

Have a Great Day

October 1, 2020
1:43 am
implode
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But an advantage of pulling is you can earn interest on both source and destination accounts for a short duration.

That said, I did a push today as I need the funds not to be held. Besides the amount is also over the limit so I needed a Tangerine agent to help me do the transfer out.

October 1, 2020
5:34 pm
Rick
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Since it's mostly savings that get shuffled, not usually concerned about holds. If I need the money immediately...yeah..push. Otherwise, a call to a CSR will move the funds on hold to where they need to be.

October 1, 2020
10:30 pm
rfdm4g4g9
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Alexandre said
It appears, Tangerine now enforces $50,000 daily transfer limit to external accounts. Trying to send more in a single transfer generates an error message.

Error found
This transaction would put you over your daily limit. Please give us a call at 1-888-464-3232 or 416-756-2424 for further help.

I remember Tangerine had $50,000 transfer limit before, but it was easily bypassed by making multiple transfers under $50K each. Not any longer, it appears.

Also, this is combined daily limit, not per each external account. An attempt to send any amount to a different external account, after $50,000 transfer was successful, results in same error message.  

What if you have 2 Savings account under the SAME client number, both of which you are the primary holder, is it
$ 50,000 per account or per Client ID.

I have 1 checking account and 2 Savings account with Tangerine. I am the primary holder on ALL 3 of them, and they are all under the same user/client ID.

When I login - I see all 3 accounts.

Can I transfer $ 50,000 from each account for $ 150,000 - total? Or only $ 50,000 combined for all 3.

October 1, 2020
10:33 pm
rfdm4g4g9
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topgun said

I try to push when possible to avoid HOLDS.  

Whatever money you need, you can push, the rest you can pull.

So push $ 50,000 from Tangerine the daily limit. And pull the rest from the other institution, let that be on hold for 4-5 days.

It doesn't have to be either or. It can be a combination of both pull and push.

October 1, 2020
11:22 pm
Rick
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implode said
But an advantage of pulling is you can earn interest on both source and destination accounts for a short duration.  

It's nice to get double interest instead of no interest while it's in limbo on a push. And if you want to play the long weekend game, you can get 4 days worth. Still not enough to pay off the mortgage, but better than nothing.

October 3, 2020
12:43 am
implode
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My push has been received at my brick and mortar bank. No hold on it as expected. I'll need it next week for home completion, so it's better I get it pushed. Besides I don't think I can pull it from my brick and mortar bank as there's no link on that end.

October 3, 2020
4:29 am
Kidd
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implode said
My push has been received at my brick and mortar bank. No hold on it as expected. I'll need it next week for home completion, so it's better I get it pushed. Besides I don't think I can pull it from my brick and mortar bank as there's no link on that end.  

Implode, i've set mine up the same way. My main bank (central hub) has no ability to push or pull to any other institution. I've never experienced a push or pull problem with tangerine. Outlook has restrictions on transfer limits, even on a verbal command, so i wrote myself a cheque to get around that (a hold on funds was experienced).

I have never experienced a "HOLD" on a push or pull transaction. The funds need to be at the source before being moved, so the destination shouldn't be questioning the legitimacy.

October 3, 2020
6:27 am
topgun
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Kidd said

Implode, i've set mine up the same way. My main bank (central hub) has no ability to push or pull to any other institution. I've never experienced a push or pull problem with tangerine. Outlook has restrictions on transfer limits, even on a verbal command, so i wrote myself a cheque to get around that (a hold on funds was experienced).

I have never experienced a "HOLD" on a push or pull transaction. The funds need to be at the source before being moved, so the destination shouldn't be questioning the legitimacy.  

I setup connection with two chequing accounts with Outlook. I would say there is no transfer limit at Outlook. Setup transfer at least three days before transfer date. The funds should be in pull account at least one day before transfer date. No holds on pull.

Have a Great Day

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