- March 22, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Changes to Linking External Bank Accounts with Tangerine Accounts
It used to be a simple process to link an external bank account to your Tangerine account by entering the institution, transit, and account numbers into a form and waiting a few days. However, that is no longer the case. The feature still appears on the website and in the app, but it now returns an error, indicating that the problem is temporary. In reality, this feature has been completely disabled.
### The New Process
The new process requires mailing a physical cheque for $1 from the external account to Tangerine’s office. This presents several challenges:
– The external bank account may be new and lacking funds, resulting in the $1 cheque bouncing.
– Not all banks provide physical cheques for free or in a timely manner, especially when opening a new account.
### Difficulty in Transferring Money
As a result of these changes, transferring money in and out of Tangerine has become much more challenging. It is important to be cautious and aware of these obstacles when managing your finances.
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