October 28, 2022
I would like to ask if anyone have encountered the same thing.
I am in Tangerine have newly linked the exteral bank account with HSBC. After linked and confirmed link, I transferred money from tangerine to HSBC, a few days later Tangerine told me my money reversal, the money was transferred back to Tangerine, call them. Tangerine told me It's an HSBC account problem. If it's an HSBC account problem, why can two small money be transferred to the HSBC account when linked? I contact HSBC told me they traced and can't find any transfered out of Tangerine to HSBC. HSBC account status is in good condition. I just suspect that Tangerine in this way hold money.
April 6, 2013
Ask Tangerine for the return reason for the returned item. It will be one of the reasons listed at bottom of page 9 of Standard 007 in the table of return reason codes.
Could be something like CNT (account not found), INA (invalid account number), or FZN (account frozen).
The initial microdeposits could have worked with an invalid account number because the branch manually reviewed them, found the intended account, and redirected them. At worst, HSBC would be liable for the depositing the 20¢ and 41¢, for example, to the wrong person's account. However, they weren't willing to keep doing that, especially when larger amounts are involved, and decided to return subsequent direct deposits with the same incorrect account number.
Make sure one uses transit, institution, and account numbers from a cheque, a direct deposit form, or pre-authorized billing form for the account. Sometimes, the numbers needed for AFT routing are not what one thinks they are. For example, the transit number shown in BMO InvestorLine monthly statements, for that special associated AccountLink chequing account, is missing a digit!
April 21, 2022
I've linked HSBC on a number of occasions when they are running a promo. If the HRSA void cheque has a dash - in the account number, include it when creating the link on the Tangerine banking site. The linking process will automatically correct the account number and remove the dash -. Don't honestly know if it's the reason and explains why a number of folks have been having problems?
April 6, 2013
One person asked an HSBC customer agent for the required info and was given an incorrect account number that had extra digits.
The correct account number was in the prefilled direct deposit/automatic payment form for the account in online banking.