April 6, 2013
A Canadian couple who are TD Canada Trust customers recently lost hundreds of dollars TWICE in what Global News called an "e-transfer nightmare". Some of you may have heard about this recent incident.
Although Tangerine only permits 3 external links for the slower bank-to-bank transfer option, I think it's the safer and securer option. I've been using Tangerine's bank-to-bank transfer method since several years and didn't have any issue even once.
The Global News story is actually about Interac e-Transfers. That's not the same as those fund transfers done by pushing funds electronically to linked accounts through Payment Canada's retail clearing system.
It is not really possible to have an issue with those push funds transfers unless someone altered the branch, transit, and account number of the receiving linked account on the sender's online banking site.