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PC Financial launches 3.1% "new net deposit" promo
November 5, 2014
8:25 pm
Loonie
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Ellen Roseman's article describing the experience of 2 customers confirms my fears as discussed in posts 4 and 37 above. It seems that the customers in question did not make the obligatory (but very confusing) personal contact with a CSR, and thus did not receive the promo bonus.

By complaining to the journalist, they were able to get this rectified. PC rep is quoted as saying that PC prides itself on "helping to make their customers' lives simpler". I'd hate to see what the complex version would look like.sf-surprised

It may pay to complain if you got stung on this one. For the 2 people in question, it was worth total $585.

November 6, 2014
9:18 am
Bill
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There's nothing "confusing" or trap-like about the condition requiring you to contact PC. Read the terms carefully and you'll have no problem. I always ask for and get a confirming email from PC and have never had any problems getting the bonus rate.

November 6, 2014
10:07 am
Greg Franklin
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Bill, caveat emptor, buyer beware remains true today as it did thousands of years ago. The problem is many consumers are not as proactive and have experience on always keeping track and staying on top of things.

Just don't take anyone's word for it and check and recheck to make sure that you are getting what they are promising in their promo, offer.

November 10, 2014
10:58 am
Doug
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Loonie said

Ellen Roseman's article describing the experience of 2 customers confirms my fears as discussed in posts 4 and 37 above. It seems that the customers in question did not make the obligatory (but very confusing) personal contact with a CSR, and thus did not receive the promo bonus.

By complaining to the journalist, they were able to get this rectified. PC rep is quoted as saying that PC prides itself on "helping to make their customers' lives simpler". I'd hate to see what the complex version would look like.sf-surprised

It may pay to complain if you got stung on this one. For the 2 people in question, it was worth total $585.

They all use "gimmicky" things for these "teaser" rates and Tangerine is no different. They may not require you to "call in" to "activate" a promo rate but they do set arbitrary rules on which your "net deposit balances" are calculated for the purposes of "net new money" calculations. The key with these things is to: (a) be a stickler for details and (b) not only read, but re-read, the "fine print" Terms & Conditions to ensure you fully understand. And, where there's any "fuzziness" in comprehension, call them and ask for clarification via recorded conversation. It may seem anal but ensures you fully take advantage of these promo rates. :)

Cheers,
Doug

November 10, 2014
3:21 pm
Loonie
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You're right, Doug. I use email to "get it in writing", but if that is too slow I use ChatLines where available and take a screenshot of the conversation. Sometimes I actually tell them I will be referring to the email later, so that they will be sure to get it right.

December 16, 2014
11:39 am
james1900
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Hi guys, have you received the promotion interest today?

December 16, 2014
1:50 pm
Bill
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The bonus part will be paid sometime in December - still got 15 days!

December 16, 2014
4:21 pm
Greg Franklin
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I believe their regular higher interest savings account rate is 1.30% and there was another PC Financial promo for TFSA savings accounts only that ends February-28-2014 paying 2.50% on new deposits.

I think Bill is right, they will pay the bonus interest regarding their 3.10% rate at the end of December-2014.

December 16, 2014
4:37 pm
Norman1
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George had posted the full text of offer earlier.

Condition #5 describes when and into which account the bonus interest will be paid. Allow several days after December 15 for them to calculate and credit the interest. For one of their previous offers, the bonus interest was paid around a week after the end date:

George said
...
3.1% Non Registered Rate Promo Offer Terms and Conditions (September 6, 2014 – December 15, 2014)
...
5. The Promotional Interest will be paid in December 2014 into a single Eligible Account held by a primary account holder. Promotional Interest will not be paid unless at least one of the primary account holder’s Eligible Accounts is active and in good standing as at December 15, 2014. If a primary account holder holds more than one Eligible Account, Promotional Interest will be paid to an Eligible Account in the following priority sequence:

  1. to the primary account holder’s Interest Plus savings account, if it is active and in good standing; otherwise
  2. to the primary account holder’s Interest First savings account, if it is active and in good standing; otherwise
  3. to the primary account holder’s no fee bank account, if it is active and in good standing.

Eligible Accounts will continue to earn Regular Interest on balances, calculated daily and paid monthly.
...

December 19, 2014
9:52 am
Bill
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Bonus interest deposited to my account today. Last time PC had this offer another person I know got theirs a day before me so may take a few days for everyone to get it.

December 19, 2014
10:41 am
james1900
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Cheers! I got mine too.

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