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Email this11:30 pm
October 2, 2025
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Need clarifications on new funds:
I get a lottery special rate from Tangerine. So I moved $50K from Royal Bank to Tangerine. When the Tangerine offer expire, I get an special rate offer from Simplii Financial. I moved the $50K from Tangerine to Simplii.
Next Tangerine came up with a new offer, and I moved the $50K from Simplii to Tangerine. **Is this $50K considered as new funds at Tangerine?** Because few weeks back I had the $50K in the Tangerine account, I took the $50K out and now I'm putting the $50K back to Tangerine to take advantage of the rate offer.
When the Tangerine offer expire, I will withdraw from Tangerine and put the $50K back to Simplii Financial (assume there is a new rate offer), is the $50K back to Simplii Financial considered a ** new funds? **
#1 For Tangerine: Depositing funds back to Tangerine after few weeks has passed, is that new funds?
#2 For Simplii Financial: Depositing funds back to Simplii after few weeks has passed, is that new funds?
1:02 am
November 9, 2025
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Depends on the date you moved the money & the account they were in. Don't deal with Simplii, but imagine it is similar to my Tang offer. They take a "snapshot" of any funds in all eligible accounts as of a specific date. If the funds were moved out of any eligible account prior to the snapshot, then funds moved back in after the snapshot qualify as new funds. If they were moved out after the snapshot was taken, then no. Last time I checked, Tang does not include their checking account as an eligible account, so if funds were in the checking account, then they would count as new funds when moved into an eligible account.
