Recently, I wanted to stop making automatic contributions to my Tangerine, formerly ING Direct, savings account using their ASP Automatic Savings Program. I thought cancelling the contributions would be easy, but it wasn’t: That’s because I’m an idiot.
I misunderstood the purpose of one of the buttons on the screen. In case it’s not immediately clear to anyone else, here are the instructions for how to cancel a monthly transfer from another bank to Tangerine
- Log in to your Tangerine Account.
- From the list on the left side of the screen, click on
View my accounts, then
click on the account in which the Automatic Savings are being deposited.
- From the left side of the screen, click on Pending Transactions.
- If the desired pending automatic savings program transfer is listed, click on the Pencil button beside the listing.
- Click on the Delete button.
This is where I was stupid. I thought that was to delete what you had typed, like a Reset button. It isn’t. It is a “CANCEL this transaction” button.
(The Cancel button just takes you out of the Edit screen. It doesn’t cancel the transfer.)
- A confirmation message will be posted listing the
From this account:
To this account:
Start Date: and
End Date (optional):information for the ASP. If it’s the right transaction, confirm the cancellation by clicking on the Confirm button.
- You will receive a confirmation message that the transaction has been deleted. You can print off the confirmation by clicking on the Print button. There is no true confirmation number like there is for most Tangerine transactions.
PS Kudos to Tangerine’s
customer service line for not calling me an idiot. They promptly and very politely explained how to cancel my contribution plan.
- How to Set Up Automatic Transfers to an ING Direct Account
- RRSP Strategies Part 1: How to Best Get your RRSP Money Contributed Before the Tax Deadline (Hint: Tangerine offers a good option!)
- Comparing US Dollar Accounts from Tangerine, BMO, CIBC, Royal, ScotiaBank and TD
- Buy Your US Dollars at Tangerine
Am I the only idiot out here? Have you ever been confused by a relatively simple transaction on a bank screen? Please share your experiences with a comment.
Yes, we bank with Tangerine.ca among other places. If you open your first account ever with Tangerine (or ING Direct) using our Orange Key below, and deposit $100 before August 31, 2017, you and we will both get a cash bonus of $50 each. (Yes, they did extend the promotion for another few months!) All you have to do is enter the Orange Key 46470587S1 when you are opening your Account, and you’re set to go.
Just copy our Orange Key, then click on this Tangerine link to see the details and apply for an account. (Note: it only applies to people with no existing or previous accounts with Tangerine or ING Direct.)