Another Tangerine Promo for existing customers -- only 2.2%! | Page 2 | Tangerine Bank | Discussion forum

Agreed. Someone on RFD mentioned that Tang probably got quite a lot of deposits from the 2.8/2.4 cohort that they don't need to incentivize more people at this point. Makes sense, but also sucks for us haha.

My 1.35% for both CAD & USD a/c would be ended in mid-April. Tangerine called me last week and offer 2.25% for 150 days (5 months). The good thing is 2.25% will apply to both CAD & USD a/c, all existing and new fund. I have 6 figures in USD a/c, 2.25% is the best rate I can find. I accepted the offer.

hwyc said

We now have the full T&C for the March email pre-offer. It serves as a base for my post in this thread. Hope that helps.  

Clearly, from this link, the requirement is to keep the funds in the account during the promo period. However, this recent pre-promo email offer, May-Nov., doesn't stipulate that funds must be kept in the account at all time, only to say that while one keep funds in the account, this interest rate will apply upon activation. Now, the real email promo of May 3rd might just be similar in its wording to the one that appear though the link. The waiting game...

Once again that confusing wording "you’ll have to keep the funds in your Account" that came with the 2.8% April offer. In that case, and I read the terms very carefully, you did not have to keep a minimum balance equal to the date when the promo started.

A whole month before you can even activate this offer? I'm guessing their doing what they can to keep people from moving money.

It says "Remember, you’ll have to keep the funds in your Account between April 1, 2022 to August 31, 2022 (the “Promotion Period”) to keep earning your special rate."

I haven't been in school in quite a while so I'm not sure how they're teaching reading comprehension these days, but that doesn't at all say to me anything about having to keep it there the whole time to get the promo rate, i.e. "to keep earning" is not the same as "to earn". So I'm betting heavily that you'll get the promo rate, on a daily basis, for whatever days during the promo period the money is there.

I dont like how they have worded it. Will wait to see what the actual offer is. Hoping for something much better elsewhere with the anticipated BoC rate increases.

OK, I also recently received the 2.2% email offer saying "stay tuned until May 3".

I'm currently getting 2.0% until the end of April. Definitely seems to be the pattern.

I don't trust them so I'm going to move my money from savings to chequing just before the end of the month, then move it back on May 3rd along with a bunch of new money from a recent property sale.

My wife and I have individual TANG savings accounts. She never gets these bonus offers. I've gotten every one for many years except for a gap from 04/2021 to 11/2021. We need to add a joint savings account. Do people with joint accounts get these bonus offers as "easily" as individual account holders?

RicksBank said
I don't trust them so I'm going to move my money from savings to chequing just before the end of the month, then move it back on May 3rd along with a bunch of new money from a recent property sale.

My wife and I have individual TANG savings accounts. She never gets these bonus offers. I've gotten every one for many years except for a gap from 04/2021 to 11/2021. We need to add a joint savings account. Do people with joint accounts get these bonus offers as "easily" as individual account holders?  

Are you certain that a transfer from Savings acct to your Chequing account is sufficient to make those funds qualify as new funds for future offers?

Also, your wife should be able to get the same offer as you do (provided you are under the same household address). Any Tang offer to one member of a household can be extended to any other member under the same household address. Call a rep and demand it. Sometimes, you may have to approach different reps or ask for supervisor attention, but it is an acknowledged Tang policy.

HermanH said

Are you certain that a transfer from Savings acct to your Chequing account is sufficient to make those funds qualify as new funds for future offers? 

I've been playing the Tang bonus game since 2015. In the early years I'd move my money to EQ, Hubert, etc, a few days prior to the end of the bonus period, and then back again for the next bonus. People here on the forum braver than I discovered that simply moving it to chequing and back was "good enough", so I've been doing that successfully for a few years now. However, all anybody can ever say is "It worked last time".

HermanH said
Also, your wife should be able to get the same offer as you do (provided you are under the same household address). Any Tang offer to one member of a household can be extended to any other member under the same household address. Call a rep and demand it. Sometimes, you may have to approach different reps or ask for supervisor attention, but it is an acknowledged Tang policy.  

Wow, I missed hearing about this. Good to know, thanks!

HermanH said

RicksBank said
I've been playing the Tang bonus game since 2015. In the early years I'd move my money to EQ, Hubert, etc, a few days prior to the end of the bonus period, and then back again for the next bonus. People here on the forum braver than I discovered that simply moving it to chequing and back was "good enough", so I've been doing that successfully for a few years now. However, all anybody can ever say is "It worked last time".

I think that this is how it works. When I got new Tang offers for New Money Savings Campaign, they would usually be good for new money in Savings/Chq/TFSA and, sometimes, USD accounts. Therefore, if you moved the money into your CHQ account and the new offer started, then the balance in your CHQ account would not get the new promo. Only new money above the balance in your CHQ would qualify. However, it seems that if you transfer the money from your CHQ to your SAV, then it qualifies because the SAV was at zero. This probably explains why members report success in the technique. No one expects to make any interest in their chequing accounts. After reading my latest Terms and Conditions, I think that I could have done the same.

I think that if the funds are moved out of SAV and into another bank (instead of just a shuffle to Tang CHQ), then any new balances in either the SAV or CHQ would qualify for the promo rate.  

Sorry, I have to disagree with that. I've never seen CHQ money included in the "eligible account types" for these promos in any way at all. That's why it works to move the money there before they take a snapshot of your eligible account balances to determine what the balance is to define "new deposits".

For example, from the email for may last promo of 2% that ends at the end of this month (the T&C of course is more detailed, but the list of account types is the same):

"Now with this online-only offer, you can earn a 2.00% interest rate* until April 30, 2022 on new deposits to your Tangerine Savings Account(s), including TFSA, RSP, and US$, up to $1,000,000 per Applicable Account Type."