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2.5% promotion rate extension to Nov 30 - being rolled out now
May 17, 2018
7:02 pm
DavidAlta13
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Tang caught me in Jan: by changing their date for "new deposits" to $'s over the balance Jan 2 (the first business day) from the 2017 practice of using the third business day of each new quarter:
I still had $35K in my Tang High Interest on Jan 2, and so won't get the promo rate on that $35K for Jan 3 - Nov 30.

To do better than Tang's 2.5% on my balance less $35K, I would need to get 2.3% at Hubert, where I'd get interest on the full balance (both the $35K Tang is not paying promo rates on plus anything over $100K, which would not get EQ's 2.3%).

As Hubert is already at 2.1%, I'll be watching as interest rates go up later this year.

May 17, 2018
8:03 pm
Bill
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As fine print says you have to activate offer I called in to do so, friendly young guy said no need to activate, when I pointed out the fine print requirement he went away and checked, came back and said (despite what fine print indicates, I guess) no need to activate, check on June 1 (day after my current promo expires) and if I don't see the 2.5% extension to Nov 30 under my promos call them back. Sounds like maybe nobody there at 11:00 pm knows about the fine print requirement so this is their response. I've received no email, the offer just shows up, like for others here, when I sign in.

May 17, 2018
8:39 pm
Saver-Mom
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Hello Kage,
In response, my opinion only: if you are not offered extension spontaneously I would move funds to chq acct several days prior to May 31st, I do not think having RSPs with Tangerine has affected the outcome, there is no need to move to another FI as it is just as effective to move funds within Tangerine, from Savings to Chequing, I have never moved every penny out and have gotten offers regularly, calling in should be last resort as it only works some of the time and not seemingly related to when one calls.
Good luck

May 17, 2018
9:01 pm
Norman1
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Bill said
As fine print says you have to activate offer I called in to do so, friendly young guy said no need to activate, when I pointed out the fine print requirement he went away and checked, came back and said (despite what fine print indicates, I guess) no need to activate, check on June 1 (day after my current promo expires) and if I don't see the 2.5% extension to Nov 30 under my promos call them back.… 

I don't think it is a new, separate offer that needs to be activated separately.

The fine print I posted earlier seems to be amended/updated fine print for the existing 2½% new-deposits offer that was originally from January 2 to end of May.

I see the notification as a modification or extension of the 2½% offer I activated in January previously.

That also implies that one needs to have the original 2½% offer in January to qualify for this extension of that offer to November.

May 17, 2018
9:14 pm
Loonie
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Spouse got this 2.5% offer, same as others.
Phoned for clarification about activation earlier in the evening than Bill but got similar response.
CSR said no need to activate, and suggested an email might follow but didn't know for sure.
Supervisor also said no need to activate.
Spouse pointed out that Profile still says expiry May.
CSR and Supervisor both suggested that all will be updated in due course and advised to wait for this.
Spouse asked to put on record that offer was accepted, just in case, and CSR said they would do this.

I suspect the activation request is a holdover from the January offer and does not really apply here, should have been removed, as Norman has suggested. Sloppy on the part of Tang.

Conclusion: check Profile again on June 1. It's possible that their system can only portray one offer at a time, and that the first one has to expire before it is replaced. This is suggested by the difficulty we have had in the past in getting them to guarantee a new rate before old ones have exired.

May 17, 2018
10:06 pm
semi-retired
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I received an email this afternoon confirming the 2.5% offer till the end of November.

May 17, 2018
11:17 pm
Joe
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Tangerine....was, and still is, the best bank in the world !sf-cool

Tangerine....Canada's best bank. LBC.............Canada's 2nd best bank.
Hubert.....worst bank in Canada.

May 18, 2018
12:09 am
GoHabs
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I also received an email about this offer and it does show in my Tangerine account. Coincidentally, I got an email offer for a 2.5% rate from RBC just the day before (fine print says for existing clients only):

"At RBC, we’re always looking for ways to help you grow your savings faster. Here's your chance to earn a great rate! Move your money from another bank to an RBC High Interest eSavings Account and earn 2.50% interest[1] on all new deposits until August 15, 2018."

I do wonder if Tangerine knew about this and it was a factor in extending the winter promo...

May 18, 2018
6:14 am
savemoresaveoften
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The game is slowly evolving. Simplii now offers 1y 2.5% GIC which means unlikely they will offer rate promotion on savings account any time soon. And my guess is FI are gravitating towards promotional rates on GIC only as it is much easier for them to manage deposit base (compared to flood wave of money leaving and reentering).

EQ now also offers GIC so they will build a stable deposit over time as well, instead of relying on high yield savings account too..

For those who keeps a decent size in cash for liquidity and safety purpose, its not the right trend unfortunately.

May 18, 2018
6:17 am
Top It Up
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savemoresaveoften said
The game is slowly evolving. ... For those who keeps a decent size in cash for liquidity and safety purpose, its not the right trend unfortunately.  

+1

May 18, 2018
7:44 am
Loonie
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I agree that the banks are now apparently more interested in our longer-term cash, for the most part.

I think it may be related to the loan business. People are looking to lock in for longer terms on their mortgages now that interest rates are visibly going up. Earlier, they were happy with variable or short terms.
So, even though the housing market is said to be "down", there will be a lot of owners looking for longer terms as well as new buyers, bumping up the demand.

May 18, 2018
7:45 am
bpwest
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Loonie said
Spouse got this 2.5% offer, same as others.
Phoned for clarification about activation earlier in the evening than Bill but got similar response.
CSR said no need to activate, and suggested an email might follow but didn't know for sure.
Supervisor also said no need to activate.
Spouse pointed out that Profile still says expiry May.
CSR and Supervisor both suggested that all will be updated in due course and advised to wait for this.
Spouse asked to put on record that offer was accepted, just in case, and CSR said they would do this.

I suspect the activation request is a holdover from the January offer and does not really apply here, should have been removed, as Norman has suggested. Sloppy on the part of Tang.

Conclusion: check Profile again on June 1. It's possible that their system can only portray one offer at a time, and that the first one has to expire before it is replaced. This is suggested by the difficulty we have had in the past in getting them to guarantee a new rate before old ones have exired.  

RE: your conclusion....
FWIW, this is what happened to me: I rec'd 'Winter Savings 2018' offer, Jan 3- May 31 2.50% (new money), all good, then in early April I rec'd 2.75% (full balance) 270 days offer by phone, and under 'bonuses and contests' the Jan 3-May 31 was immediately amended to Jan 3- April 3, and the 2.75% 'Limited Time Offer' was added, April 4-Dec 29/2018

So, in my case, the Jan 3-May 31 didn't expire, or run it's course, it was superceded by the phone solicited 2.75% 270 day offer...

May 18, 2018
8:34 am
Norman1
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bpwest said

RE: your conclusion....
FWIW, this is what happened to me: I rec'd 'Winter Savings 2018' offer, Jan 3- May 31 2.50% (new money), all good, then in early April I rec'd 2.75% (full balance) 270 days offer by phone, and under 'bonuses and contests' the Jan 3-May 31 was immediately amended to Jan 3- April 3, and the 2.75% 'Limited Time Offer' was added, April 4-Dec 29/2018

So, in my case, the Jan 3-May 31 didn't expire, or run it's course, it was superceded by the phone solicited 2.75% 270 day offer...  

Tangerine may do something similar for those of us who received the extension to our 2½% new-money 'Winter Savings 2018' offer.

Instead of amending it from Jan 3-May 31 to Jan 3-April 3, Tangerine may amend the offer period to Jan 3-Nov 30 sometime before the end of this month (May).

I would have preferred the call you received to immediately supersede my 2½% new-money offer with a 2¾% entire-balance offer!

May 18, 2018
10:50 am
Bill
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I've got no real problem moving some of my liquidity money to 1 year GICs (and some are cashable if you really need the money), it's pretty easy to predict what you'll need in the next 12 months and I've tended to keep more liquid than I would ever really need anyways because for a while HISA rates have been just as good if not better than 1-year GICs.

May 18, 2018
12:01 pm
kitkat
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Am I the only one who hasn't received the offer of extension to Nov? My account is still only showing the end of May in the banner and no Nov offer in insights.

May 19, 2018
12:58 am
Kidd
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GoHabs said
I also received an email about this offer and it does show in my Tangerine account. Coincidentally, I got an email offer for a 2.5% rate from RBC just the day before (fine print says for existing clients only):

"At RBC, we’re always looking for ways to help you grow your savings faster. Here's your chance to earn a great rate! Move your money from another bank to an RBC High Interest eSavings Account and earn 2.50% interest[1] on all new deposits until August 15, 2018."

I do wonder if Tangerine knew about this and it was a factor in extending the winter promo...  

For the RBC to offer 2.5% on savings... WOW, Canada must be on the verge of financial collapse. This is a sign of the Impending Apocalypse. The Europeans use the acronym P.I.G.S. for their deadbeat countries, Portugal, Italy, Greece and Spain. What should Canada be known as... caustic, catastrophic, corrupt?

Canada's federal debt. $654 billion. http://www.debtclock.ca/?gclid=EAIaIQobChMI8rnfpKGR2wIVzrXACh385wx6EAAYASAAEgKKFfD_BwE

Ontario's provincial debt. $310 billion http://www.debtclock.ca/provincial-debtclocks/ontario/ontario-s-debt/

Toronto's city debt. In 2011, $4.4 billion https://www.thestar.com/news/gta/2011/06/27/toronto_debt_44b_and_rising.html

Canada's Personal debt. $1.8 TRILLION http://toronto.citynews.ca/2018/03/12/canadian-household-debt-hits-1-8t-as-report-warns-of-domestic-risk/

May 19, 2018
2:34 am
DavidAlta13
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Kidd said

For the RBC to offer 2.5% on savings... WOW, Canada must be on the verge of financial collapse. This is a sign of the Impending Apocalypse. The Europeans use the acronym P.I.G.S. for their deadbeat countries, Portugal, Italy, Greece and Spain. What should Canada be known as... caustic, catastrophic, corrupt?

Canada's federal debt. $654 billion. http://www.debtclock.ca/?gclid.....gKKFfD_BwE

Ontario's provincial debt. $310 billion http://www.debtclock.ca/provin.....io-s-debt/

Toronto's city debt. In 2011, $4.4 billion https://www.thestar.com/news/gta/2011/06/27/toronto_debt_44b_and_rising.html

Canada's Personal debt. $1.8 TRILLION http://toronto.citynews.ca/201.....-risk/  

Reality check: Canada ranks in the top 10 best countries for: best countries overall (#2), most business-friendly, entrepreneurs, most modern, entrepreneurship, quality of life, retiring comfortably, starting a business, most forward-looking countries, headquartering a corporation, transparency, green living, education & women.
https://www.cnbc.com/2018/02/06/us-news-world-report-2018-top-10-best-countries-to-raise-children.html
https://www.usnews.com/info/blogs/press-room/articles/2018-01-23/switzerland-is-the-best-country-in-the-world-says-2018-best-countries-report

How's the world really doing? Some highlights are:
Life expectancy has lengthened from 31 in 1900 to 48 in 1950 to 72 in 2016;
Extreme poverty has gone from 60.2% (2,220 million) in 1970 to 9.6% (706 million) in 2015, while total population grew from 3.69 billion to 7.35 billion;
https://ourworldindata.org/grapher/world-population-in-extreme-poverty-absolute
Mortality rates for children under 5 have been reduced by more than half since 1990, from 9.34% in 1990 to 4.08% in 2015.
https://data.worldbank.org/indicator/SH.DYN.MORT
There are many more facts available about how well we are doing; google Bill Gates' interviews or reasons for optimism for more.
We can all chose to be optimistic & grateful or pessimistic & whiny, if we base the decision on opinions or feelings.
If we use facts, the only rational conclusion is that overall, people are far better off than than ever, and the trend is likely to continue.

Please forgive me for digressing from this forum's topic.

I am grateful to Tang for paying me more than anyone else, and for having the money to lend them.

May 19, 2018
6:09 am
Bill
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Well said, DavidAlta13. One of the most unexpected observations I've had in my life is the lack of gratitude many people express the more they are given or are able to obtain (the exact opposite response to what I'd expect) - expressing gratitude's just not cool I guess. (It's certainly changed my behaviour re financial generosity.) Along with my surprise at the willingness of many folks to chase capitalism, the main driver of our historically unprecedented prosperity, health and life of leisure, from Canada in favour of a return to a state-controlled and managed economy. Oh well, guess that's why they say history repeats itself.

May 19, 2018
9:05 am
Norman1
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kitkat said
Am I the only one who hasn't received the offer of extension to Nov? My account is still only showing the end of May in the banner and no Nov offer in insights.  

The extension of the 2½% offer to November is targeted.

I received the extension. But, davidgeorge reported earlier that he did not receive the extension yet.

On RedFlagDeals.com, reports in discussion [Tangerine] Extended Tangerine 2.50% Promo also indicate a mix of people who received the extension and people who did not.

May 19, 2018
11:37 pm
Vatox
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I too did not receive the extension.

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