How to Link My Tangerine Account to my EQ Bank Account for Faster Transfers

When I first opened my savings account at EQ Bank they were paying 3% interest and you could not set up to transfer money directly into the account, you had to “pull” it in by requesting the transfer from EQ. I prefer to “push” money rather than “pull” it because it usually reduces how long the funds are “on hold” after they land in the destination account. Sometime along the line, EQ Bank started letting customers push money in so it’s time for me to set up the link to my Tangerine account let me make faster transfers easily.

What Do I Need to Know To Link My Tangerine and EQ Bank Accounts?

To create a link within my Tangerine bank profile, I need to know some info about my account at EQ Bank, specifically

  • the EQ bank institution number
  • the EQ bank transit number
  • the EQ bank savings account number

Since the EQ Bank account is a savings account, I don’t have a cheque for it to get those numbers from. I found them two places, one in a RedFlagDeals post, the other on EQ Banks own site.

To see them on the EQ site, you can

  • Check under the Pay & Transfer link
  • Under the Pay & Transfer link, click on the Pre-authorized transfers link.
    Your account number/s, transit and institution number will be displayed.

Or

  • Click on one of your savings accounts.
  • Within it, you should see a button called Set up direct deposit.
  • Click on the Set up direct deposit button.
  • It will list your account number, transit number and institution number.

As of October 2, 2017:

  • The EQ bank institution number is 623
  • The EQ bank transit number is 80002
  • Your EQ bank savings account number will vary from mine!

How to Create the Link from Tangerine to EQ Bank to Move Money Between Bank Accounts

Sign in to Tangerine.

At the top right side of the screen, click on your name to see the drop-down list of choices.

Click on Profile & Settings.

On the horizontal bar of links across the top of the page select External Accounts.

Click on the Add Account button.

The Add External Account Page
NOTE: No you are not allowed to connect your own personal account to that of a friend, relative, business, or other person.

Type the following information in the appropriate text field:

  • Transit number
    80002 for EQ
  • Institution Number
    623 for EQ
  • Account Number
    your EQ bank account number
  • Account Number to Confirm
    your EQ bank account number, again

Click to select the dot beside

  • “I confirm that the information provided above is for a personal bank account in my name.”

Click on the Next button.

The Review the External Account Information Page

Tangerine will respond with the name and mailing address of EQ Bank and your account number. Check it’s all correct.

If it’s ok, click on the Submit button.

The Account Added Page
Read over the information about the small deposits Tangerine will make into your newly linked account.

Click on the Done button.

If you’ve finished banking with Tangerine for today, under your abbreviated name, click on the Log Out link.

Clear your browser cache and close your browser session, if desired for more security.

And Now You Wait
Once Tangerine makes two deposits into your EQ Bank account you can confirm the link. Until then, you’ll have to wait, just like I’m waiting now!


Related Reading

  • How to Link Your EQ Account to an Account at Another Bank or Financial Institution
  • How to Transfer Money from EQ Bank to Your Linked External Bank Account

Join In
Have you linked your savings accounts to try to get the best interest rate possible? Please share your strategy with a comment.

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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 January 31, 2018, 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.)
Image of Tangerine Orange Key Ad

Watch Out for this PRESTO Card Quirk Before You Miss Your GO Train

I don’t use public transit much because I live within walking distance of my job and many of my activities. I do have a PRESTO Card, though, for when I take transit or take the GO train. It’s handy and slightly cheaper. Not being a frequent PRESTO user, however, had an unexpected downside that nearly caused me to miss my train.

How Can You Add Money to Your PRESTO Transit Card?

The two most common ways to add cash to your PRESTO card are to pay at a transit station or to pay online.

If you’re at a transit station, you just ask the staff to add a certain amount to your card, hand them the cash or pay them by debit or credit card, and voila, your card is updated with the new balance.

If you have registered your card and set up an account for online access, you can also load your card with more cash by paying online.

When Does the Cash You Paid for Online Get Added to Your PRESTO Card?

If you pay for say, $50 more on your PRESTO card using the online program, it does NOT get loaded onto your card immediately. Instead, it gets loaded onto your card in 24 hours at the time you next tap your card on a PRESTO reader. So, when I pay for some more cash for my teenager’s PRESTO card, it gets loaded on the card the next time my teen takes transit.

What Happens If You Load Your PRESTO Card Online But Don’t Tap It for a Long Time?

In my case, I loaded some more cash onto my PRESTO card online but did not ride on transit or tap my card for over a month. (A planned trip was postponed.)

When I received my credit card bill 2 months later, I had received a credit from PRESTO. Because I had not tapped my card, the load had never been finalized, and they refunded my purchase.

I didn’t know that until I got my credit card bill. In fact, I nearly missed a train because of it. When I did go to catch a GO train over a month after I had paid to re-load my PRESTO card, after I paid my fare the device informed me I only had $0.06 remaining on my card — not the $50.06 I had thought would be on my card.

I quickly re-loaded my card when I arrived at my destination before leaving the transit station. But if I had not had just enough left on my card, I would have had to miss my train to line up to add cash to it.

So be careful to tap fairly soon after you make an online PRESTO purchase!


Related Reading

Join In
Have you discovered any PRESTO quirks? Please share your experiences with a comment.