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Another Tangerine Promo for existing customers -- only 2.2%!
April 22, 2022
11:15 pm
HermanH
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Maybe it is a different offer or terms/conditions. I know that I have received Promo interest for offers that were calculated on CHQ balances.

April 23, 2022
10:30 am
RicksBank
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HermanH said
Maybe it is a different offer or terms/conditions. I know that I have received Promo interest for offers that were calculated on CHQ balances.  

I've never seen that, but let me guess at your scenario in case I'm not understanding it.

For example, say you had $10,000 in CHQ and $0 in SAV. Are you saying you got a promo offer but only for new money above $10,000 (total of CHQ and SAV) deposited into a SAV account?

If this isn't correct, if you don't mind, please give me an example of what you saw.

April 23, 2022
3:44 pm
HermanH
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No, I moved all my money out of Tang and received a New Money offer. After putting some money back into my CHQ and SAV accounts, I received the usual interest and Promo interest for both accounts.

I am suggesting that the folks who employ the tactic of shuffling all their money (i.e. $10K) from their SAV to their CHQ account in order to establish a baseline of zero for their SAV account might also be eligible for Promo rates in their CHQ account (with any new funds above $10K), but just not notice it since they are putting all the funds back into their SAV account.

April 23, 2022
4:15 pm
Bill
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Just checked my last 17 promo offers, back to 2015, and every single one applied only to "savings accounts", never my chequing account, never have received promo interest in my chequing account.

April 23, 2022
4:25 pm
AllanB
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Anything less than 3% is a rip off

April 24, 2022
4:36 am
savemoresaveoften
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Subject to the limits and qualifications outlined in these Terms and Conditions, Promotional Interest will be calculated daily and paid monthly. Although all balances for a particular Applicable Account Type are consolidated for purposes of calculating Eligible Deposit, Promotional Interest is paid to an individual Account based on the Eligible Deposits applicable to such Account. The following transactions are examples of what will qualify as Eligible Deposits for which Promotional Interest will apply:

Money transferred from a Tangerine Chequing Account to an Applicable Account.
Money transferred from another financial institution, including the Eligible Client’s linked account, Tangerine email Money Transfer, or Interac e-Transfer, to an Applicable Account.
Money transferred from a Savings Account into a TFSA Savings or RSP Savings Account.
Money transferred from a US$ Savings Account into a TFSA Savings or RSP Savings Account.
Money transferred from a TFSA account, or RSP account at another financial institution to a TFSA Savings or RSP Savings Account.

This is from the T&C on my last new deposit promo. So basically the maneuver from savings to chequing trick works ! Tangerine is just dumb. I never did it that way cuz I overestimate their intelligence... But then they have not offered me top rates for a long time either....

April 24, 2022
2:05 pm
RetirEd
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AllanB: Where would you go today for 3% in a savings account?

RicksBank: you quote...

"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."

Online-only again? The pressure to switch to online banking is incessant.

RetirEd

April 25, 2022
1:08 pm
bb_sam
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I just got another email advising of the pending 2.2% rate promo. It sounds like this promo is a bit different since they seem to be suggesting that I should keep the funds "right where it is". So, it seems like I won't have to transfer the funds out and then in again???

Here’s what’s going to happen:
1. Look out for a message from us dropping in your inbox on May 3, 2022.
2. In that email, activate your offer to earn your special rate.
3. To make the most of your special rate, just keep your money right where it is.

April 25, 2022
1:19 pm
AllanB
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Offered 2.4% 150d savings standard terms. They might bump up from 2.2 if you tell them u'll deposit higher amt.
I prefer shorter term promo 90d rates have more room to run.
Hold the line fellas!

April 25, 2022
1:40 pm
COIN
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I'm currently enrolled in the 2.8% so no offers for me.

April 25, 2022
1:43 pm
JohnnyCash
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AllanB said
Hold the line fellas!  

I'm inclined to ignore the offer and roll-the-dice on a BoC .5% increase on June 1st, which will trigger offers on rates to increase further. Locking in with Tangerine at 2.2% until the end of November is too long. The next BoC rate increase will not be the last.

April 25, 2022
2:24 pm
cgouimet
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JohnnyCash said

I'm inclined to ignore the offer and roll-the-dice on a BoC .5% increase on June 1st, which will trigger offers on rates to increase further. Locking in with Tangerine at 2.2% until the end of November is too long. The next BoC rate increase will not be the last.  

I just got this also. I'm on 2.0% to Apr 30. My wife is on 2.4% to Aug 31.

We'll be getting the official offer May 3 and will have till May 31 to enroll. So, 5 weeks before I 'have' to bite...

CGO
April 25, 2022
6:17 pm
Dean
Valhalla Mountains, British Columbia
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bb_sam said

I just got another email advising of the pending 2.2% rate promo. It sounds like this promo is a bit different since they seem to be suggesting that I should keep the funds "right where it is". So, it seems like I won't have to transfer the funds out and then in again???

Here’s what’s going to happen:
1. Look out for a message from us dropping in your inbox on May 3, 2022.
2. In that email, activate your offer to earn your special rate.
3. To make the most of your special rate, just keep your money right where it is.  

I just received that same emailed message from Tang. Apparently, it will be good through to Nov. 30th, and now there's No mention of a specified time period my money has to stay there with them, to retain the deal (i.e. my money Isn't Locked-In) ❗

Here's the fine print . . .

    "* The 2.20% Interest Rate Offer (the “Offer”) is only available to existing Tangerine Clients who have received this communication directly from Tangerine and who activate the Offer online by May 31, 2022. The 2.20% promotional interest rate (the “Promotional Interest Rate”) is valid from May 3, 2022 to November 30, 2022 (the “Promotion Period”) and is only available for eligible non-registered Tangerine Savings Account(s) (“Applicable Accounts”) to a maximum balance of $5,000,000 in all Applicable Accounts combined (“Eligible Balances”) during the Promotion Period. The Promotional Interest Rate is an annualized rate, calculated daily and paid monthly. This Offer can’t be combined with any other promotional rate offers for non-registered Savings Accounts. This Offer, including interest rates, may change, be extended or cancelled without notice."

.

I guess that's better than; 'A Kick In The Pants'. sf-wink

    Dean

sf-cool " Live Long And Prosper " sf-cool

April 28, 2022
6:47 am
BlueSky
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bb_sam said
It sounds like this promo is a bit different since they seem to be suggesting that I should keep the funds "right where it is".

Dean said

I just received that same emailed message from Tang. Apparently, it will be good through to Nov. 30th, and now there's No mention of a specified time period my money has to stay there with them, to retain the deal (i.e. my money Isn't Locked-In) ❗

  

There are open questions here that hopefully will get cleared out:
a. Does new money after offer activated earn the promo rate? My guess is no, since it's not in the account already.
b. Does the promo rate apply to the balance recorded at the time of activation, and any future withdrawls will reduce the "eligible funds"? My guess is yes.
The terminology used in Tang emails seems to suggest that.

April 28, 2022
7:47 am
RicksBank
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The terms of all previous promos were clearly set to achieve 2 goals: to keep existing money in our accounts and to attract new money. Surely this promo would be set up to do the same, and include all existing and new money?

My concern is that for the first time the announcement doesn't include the actual T&Cs or specify that it's for new money. I don't trust them not to still have that requirement so I'm going to move my money out to my chequing account for a few days prior to May 3rd as I have successfully done for the last few promos. To me, that assurance is worth the loss of a few days interest at my current 2.0% rate.

Thanks to the person who told me that Tang will extend promos to other household members who didn't get the offer email. We phoned and were told to call back after May 3rd and they will activate the promo for my wife too.

April 28, 2022
10:01 am
Dean
Valhalla Mountains, British Columbia
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BlueSky said

There are open questions here that hopefully will get cleared out:
a. Does new money after offer activated earn the promo rate? My guess is no, since it's not in the account already.
b. Does the promo rate apply to the balance recorded at the time of activation, and any future withdrawls will reduce the "eligible funds"? My guess is yes.
The terminology used in Tang emails seems to suggest that.  

I could be wrong, but I think you're reading things into the terms & conditions that just aren't there. For reference, see the Fine Print in Post # 53.

And if it ends up that after it's initiated, we find out there's something wrong with this latest offer (that wasn't disclosed), we can just simply take our $$$ Elsewhere. sf-smile

    Dean

sf-cool " Live Long And Prosper " sf-cool

April 29, 2022
10:03 am
Bill
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Promo rate ending tomorrow, here's the message in Tangerine inbox a few days ago:
"Just a quick note about the special interest rate you have in place for this Account
We hope that the special 2.00% interest rate you’ve been earning has helped you make your money work as hard as you do.
As a reminder, this rate will end on 30-April-2022. After that date, the funds in the Account will earn the posted rate.
You’ll find more information about your Tangerine Savings Account, including your rights and obligations, within your Account Terms (which continues to apply to your promotional offer and to the Tangerine Savings Account after the offer end date).
Remember that you can close your Tangerine Savings Account, at any time if you like, including after the offer end date, and there is no charge to do so. However, there is a fee associated with transferring registered funds to another financial institution, as disclosed in our fee schedule.
As part of your banking experience with us, you have access to many free digital banking features, including money management tools such as Money Rules and Goals.
To learn of any future promotions that might be available to you, keep an eye out for emails from us, and watch for messages on our website and Mobile Banking app."

April 29, 2022
10:09 am
Sammy
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I'm on an old promo (for info I'm in QC) at 1.4% until somewhere in June. These days, 1.4% doesn't make any sense.

Before calling them, I'm wondering if anyone was ever able to have a current promo modified or they just won't move because I'm already on a promo?

Thanks for your input!

April 29, 2022
11:03 am
Patch002
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Bill said
Promo rate ending tomorrow, here's the message in Tangerine inbox a few days ago:
"Just a quick note about the special interest rate you have in place for this Account
We hope that the special 2.00% interest rate you’ve been earning has helped you make your money work as hard as you do.
As a reminder, this rate will end on 30-April-2022. After that date, the funds in the Account will earn the posted rate.
You’ll find more information about your Tangerine Savings Account, including your rights and obligations, within your Account Terms (which continues to apply to your promotional offer and to the Tangerine Savings Account after the offer end date).
Remember that you can close your Tangerine Savings Account, at any time if you like, including after the offer end date, and there is no charge to do so. However, there is a fee associated with transferring registered funds to another financial institution, as disclosed in our fee schedule.
As part of your banking experience with us, you have access to many free digital banking features, including money management tools such as Money Rules and Goals.
To learn of any future promotions that might be available to you, keep an eye out for emails from us, and watch for messages on our website and Mobile Banking app."  

Sheesh, that line:

"Remember that you can close your Tangerine Savings Account, at any time if you like, including after the offer end date, and there is no charge to do so. However, there is a fee associated with transferring registered funds to another financial institution, as disclosed in our fee schedule."

sounds like a dare to leave. No, I think I'll keep the account open as that is where TING's mastercard deposits the 2% cashback on mastercard purchases.

April 29, 2022
11:27 am
Bill
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Agree, no harm in keeping it open, there will come another offer some day.

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