Tangerine Transfer Out Limits? | Page 2 | Tangerine Bank | Discussion forum

Alexandra said
I just did a transfer out today of $25K as well. Tried twice that, but no go. It is possible, if you phone them they will do more but not sure. Don't want to spend and hour waiting for a reply. More tomorrow. One thing though, usually only takes one or two days to arrive at CIBC and they don't ever do a hold of funds with me.  

I haven't tried it myself, but apparently if you also have a chequing account, it too has its own limit of $25,000. That would be $50,000 when combined with a transfer from the savings account.

Per account. So just transfer from one account to another as you need, instantaneous, then you can transfer out from each.

BK said
I was unable to do a transfer today out of my Tangerine savings account because it was over my daily transfer limit and when I called in, the Tangerine representative informed me that the daily transfer limit has been dropped again to only $15,000 per day. This small limit is totally unacceptable, especially with the wait times that you have to be on hold for to get them to withdraw a larger amount.  

I am able to do a $25k scheduled transfer. Call Tang and ask why ur account is limited to $15k only.

I seldom exceed $25k on any transfer only because my faith in the systems only goes so far. If anything goes wrong, I'd rather chase after $25k than say $100k.

Alexandre said
I wonder how many people transferred $25K from Tangerine just to see if they can transfer $25K from Tangerine.
That could make Tangerine bankers unhappy. 🙂

I plan to transfer $25K from Tangerine tomorrow, if limit is lower I'll share it here, too. Last week, my transfers were limited by $25K.  

You could set up the transfer today for Monday, the next business day, without waiting to see what your transfer limit is tomorrow.

Bruford said

I much prefer to have the flexibility to transfer as much as I want without having to call a CSA. Trying to contact one to transfer out when there is an emergency could be risky.  

I don't call. I just transfer from our indidual and joint accounts. So, potentially 75/day.

EQ has a limit of $100K transfer in, and $30K transferring out.

We need to start moving away from the push/pull lingo. It's too confusing.

Tangerine has no limit transferring funds in but I believe the outgoing limit is either $25K day or $50K. Manulife is $50K.

Hmm said
EQ has a limit of $100K transfer in, and $30K transferring out.

We need to start moving away from the push/pull lingo. It's too confusing.

Tangerine has no limit transferring funds in but I believe the outgoing limit is either $25K day or $50K. Manulife is $50K.  

Both EQ and Tang will allow multiple transfers from different accounts.

I was trying to move a large sum from EQ and could have done multiple transfers, but decided to call a CSR instead, to arrange a single transaction.

Both EQ and Tang will also increase the limit, but you must call a CSR.

Probably a silly question… Where does the money go when a Tangerine GIC matures?

In the last week I have made 3 external transfers from Tang to one of the Big Banks (push transactions). In all 3 cases I have entered a postdated transfer amount of $25K and then phoned a Tang CSR to edit the amount, so that they don' t try a trick to change the value date of the external transfer. The first two Tang CSRs just edited the amount based upon my instructions. In the first case the CSR was very nosy and asked why I was transferring the funds. I told the CSR that is was none of their business. Their rebuttal was they wanted to know, so that they might make me a better offer (not likely as I am currently at a promo offer of 4.00%). My rebuttal was to say the transfer had nothing to do with moving funds to another HISA and if it had that I would have emptied my Tang account if it was a superior rate.

On the 3rd transfer, the CSR told me point blank that he could not edit my transfer and that he was going to delete it and enter a new transfer. My transfer was dated for June 5th and he stated that the new transfer would be dated June 4th (the day I called Tang). I insisted that this was disingenuous and explained my two recent transfer experiences. He insisted that this was all he could do. It quickly got elevated to his manager (who I never directly spoke with and the CSR did make a new transfer and deleted the old one, but with a June 5th date, thus preserving an additional day's interest (in this case about $11).

My experience is that the processing by the large recipient bank is like clockwork and my recipient bank posts the Tangerine push transaction at 3:10 pm ET (within about a 10 minute window) on the date of the post dated transfer initiated at Tang. Thus, if you set up the post dated transaction on a business day, Tangerine does not benefit from any extra days of interest (which the 3rd transaction they were clearly trying to achieve). If you initiate a push transaction from Tangerine and don't make it post dated, then you will lose at least 1 day of interest (3 if you do it on a Friday) as if you initiate a push transaction from Tangerine on a business day (without the benefit of it being postdated), it does not get processed by the recipient bank, until the next business day, thus motivating one to use post dated push transactions.

So, not only does Tangerine like wasting my time, they have the audacity to try and screw me out of a day's interest for the pleasure of dealing with one of their minion CSRs. The person is not truly a minion, just placed in such a role by Tangerine. I am of the opinion that this was a rebuttal to my first two transfers, as after the 3rd transfer my Tang balance was roughly 25% of what it was a week earlier. However, what they don't seem to understand, is that just like with their promotional lottery scheme, they just alienate a long standing customer with such "efforts".