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Data Point: Sept 16 retention offer
September 26, 2016
8:29 pm
Bill
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moneyman, a few weeks ago my old Tangerine promo expired so I called, said I would move it out if it went to their regular non-promo rate, so they offered me 2% for another 90 days and I accepted. Then about 10 days later, after reading about some people here getting 2.5% and PC coming out with its 2.25% promo, I called back to tell them about those two new factors and, after they confirmed with me that at least some of my money was on the move to PC unless something changed, they offered me 2.5% for another 90 days, so I accepted. So in my case (and with my wife included it's 3 accounts) I got bumped up while I already was on a promo. I look forward to the opportunity to call Tangerine anytime, it's usually a money-making few minutes.

September 27, 2016
3:35 am
3oakwest
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I had 3.07 to Sept. 30. I called a couple of days ago and was offered 2.5% for three months, so I took it!

September 27, 2016
5:36 pm
moneyman
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Thanks Bill that's good to know just shows the tangerine reps are like roulette you either get a winner or have to play again. I think the fact that they knew there were better offers out there for you forced their hand with the ultimatum you gave them. I guess if you are a Scotia bank stockholder you like how they do business. Their dividends probably come from the money they should have paid their depositors.

Follow up from TD used their chat line said I'm a client since 1985, multi product etc got the same line from their rep it's a targeted program can't do anything for me. My branch manager was better said show me the email and I will call who I have to to get it. We all know the bank managers are bonused at year end if they grow their deposits. Still holding hope somebody might have the actual email.

For those real sophisticated investors something odd happened on the last round of selling US treasuries. The central banks of Japan and China didn't buy any US bonds. Looks like the central bankers are also getting leary of IOU notes. Meaning rates may need to go up to gain back interest. Hoping they pull the deposit rates up with them.

September 27, 2016
6:59 pm
Loonie
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I don't know anything about the state of affairs (or the affairs of statesf-wink) in China and Japan, but perhaps they are diversifying out of USD. Perhaps they're holding off until after the election to see what the lay of the land is at that time.

September 27, 2016
7:13 pm
moneyman
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Looks like tangerine is interested in why they are going down hill since They were ING
I'm not sure if it's worth giving them 20mins of my life

We're doing some research to better understand our Clients' outlook and thoughts on investing. We know that you may not have investments with us, but we'd really appreciate it if you'd share your opinions by completing an online survey.

To conduct the survey on our behalf, we've partnered with DIG Insights, a trusted research firm. The survey will take approximately 20 minutes to complete and will remain open for 1 week. Your answers will be kept strictly confidential. To begin, please click here*.

Thanks in advance for taking the time to complete the survey.

Sincerely,

The Tangerine Research Team

September 27, 2016
8:53 pm
Rick
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moneyman said

Looks like tangerine is interested in why they are going down hill since They were ING
I'm not sure if it's worth giving them 20mins of my life
The Tangerine Research Team

Can't find any message/link when I log in. Be happy to tear em a new one in their survey.
sf-yell

September 28, 2016
10:15 am
bpwest
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bpwest said

I am wondering if anyone who has the targeted 'summer rate' (new money only) varying between 2.37-3.25% expiring Sept 30 has received a 'retention' offer...It appears some in this thread have had various rates that were expiring mid month, and not specifically the summer rate that was in effect July 5- Sept 30...Thanks in advance...

Called Tangerine yesterday, referred to PC Financial offer of 2.25% (new money only) Sept 1-Dec 31, and indicated I would move money if I had to...was put on hold briefly, and offered 2.50% for 90 days, entire balance...
I will likely now have to find a third, high interest savings option, as both Tangerine and PC Financial offers will be expiring in late December, and I may want to have an option to 'park' my money, waiting for next Tanga/PC Financial offer...Cheers

September 28, 2016
5:06 pm
Save2Retire@55
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So for those who call and get a good rate, does it matter how much money is saved there? With these banks I don't put over 100K but wanted to check before calling them. Thx

September 28, 2016
6:34 pm
moneyman
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Yas said

So for those who call and get a good rate, does it matter how much money is saved there? With these banks I don't put over 100K but wanted to check before calling them. Thx

They don't tier their rates if that's what your asking. For those of us transferring In and out based on promotions you know they've checked the past balances so they have an idea what size of account you bring.

September 28, 2016
10:24 pm
slow_n_steady
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moneyman:
Call the TD 1-8XX number for customer service and ask about the targeted offer. I received bonus interest from TD in the past and the branch staff couldn't explain where it came from and told me to call the 1-8XX number on the bank card to speak with a rep. They informed me I had been targeted for a 90 d bonus interest offer at the time. It seems to me the branch level has no knowledge or role in these targeted TD offers so I think you would have better luck calling their central customer service. Good luck.

September 29, 2016
5:04 am
Bill
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Yas, I've never exceeded the $100K limit per account and I get the promo rates. They always put me on hold for a minute before they give me the offer so I'm sure they go off and review my history with them. Also I'd imagine they have a field on a screen with a "flag" so their employees can quickly see how desirable a client (from their point of view) they're dealing with.

September 29, 2016
8:06 am
mr P. Pincer
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Looks like everyone that has phoned in for this 2.5% retention offer has got it so far.

I think, like Howie, I'll wait & see if they come up with a better 'new money' fall offer instead, we'll see.

Currently at PFC @ 2.25% (didn't have anything with Tang aside from monthly CC payments because their last offer to me was only 1.6%, they wouldn't budge on it either).

September 29, 2016
5:03 pm
moneyman
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Thanks again slow n steady.

I didn't open up a high interest savings with TD b/c I was told it's a $5 withdrawal fee. Now I see its waived with balances over 25k. I'll open the account then call. Appreciate the tip.

Has anyone seen the new offer from meridian? It's 1.5% + 1% cash bonus. Have to look at the details.

September 29, 2016
6:00 pm
Loonie
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Details from Meridian aren't very forthcoming.
It's on new money only; and "Offer ends soon", whatever that means.
https://www.meridiancu.ca/personal-banking/Offers/OOP/1percent.aspx
I am quite sure the offer hasn't been there too long - maybe a couple of weeks, maybe less.

Apart from the timing issue, it's unclear what they're offering. What does "cash bonus" mean? Does it mean that if I deposit 100K, they will immediately give me 1K, and then I earn 1.5% until.....?

I'm maxed out with them for now anyway, on a 3% deal, but perhaps there is something in this for someone who is maxed at Tang. I would just want to know more about the terms of the offer if it were me, and I would be annoyed that it's not in writing on the website (as far as I can see).

September 29, 2016
8:18 pm
Norman1
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Meridian has the fine print for the 1% bonus offer in footnote † at the bottom of the page: Terms & Conditions

This is a partial excerpt:

…To qualify as New Assets, the assets must not have been transferred out of a Qualifying Account at any time within the previous twelve (12) months. The transfer of New Assets from a financial institution into a Qualifying Account must be initiated no earlier than September 19, 2016 at 9:00 a.m. Toronto time (the specific date of transfer is referred to as the “Transfer-In Date”). New Assets must be received into a Qualifying Account not later than 4:00 p.m. Toronto time by February 28, 2017. The 1% Cash Bonus Offer will be paid as described herein on New Assets. New Assets received on or before February 28, 2017 must remain in the Qualifying Account until December 15, 2017 (the “Hold Date”). Transfers between Qualifying Accounts are permitted. The Member must transfer in a minimum of $10,000 per Member from an account held at another financial institution. …

… The maximum bonus payable is $500 per Member. …

September 29, 2016
9:04 pm
Loonie
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thanks, Norman. My vision isn't up to the challenge of finding these things any more.

Interesting that it's available to all types of accounts, registered and not.

However, you have to leave the money there for 15 months, and, at present, they are only paying 1.5% (which could decline or increase during that period).
With a maximum of $500 on the 1% deal per member, you wouldn't want to deposit more than 50K anyway.

Overall, it doesn't seem like a very attractive deal, to me.

September 30, 2016
12:57 pm
bpwest
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bpwest said

bpwest said

I am wondering if anyone who has the targeted 'summer rate' (new money only) varying between 2.37-3.25% expiring Sept 30 has received a 'retention' offer...It appears some in this thread have had various rates that were expiring mid month, and not specifically the summer rate that was in effect July 5- Sept 30...Thanks in advance...

Called Tangerine yesterday, referred to PC Financial offer of 2.25% (new money only) Sept 1-Dec 31, and indicated I would move money if I had to...was put on hold briefly, and offered 2.50% for 90 days, entire balance...
I will likely now have to find a third, high interest savings option, as both Tangerine and PC Financial offers will be expiring in late December, and I may want to have an option to 'park' my money, waiting for next Tanga/PC Financial offer...Cheers

Further, on another consumer website with a "tangerine" thread, there are those reporting that they were able to receive 3.00% from Tangerine, 90 days, upon suggesting that they would move monies unless Tanga beat PC Financial 2.25%... some of these folks had an expiring 3.1% or 3.25 % Tangerine rate...Hmm!!??sf-surprised...what's a fellow to do...

September 30, 2016
5:36 pm
moneyman
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i agree the meridian offer limited at $500 gain over 15 months is not really an offer. It's all in how you market.

I'm at a loss to understand why tangerine would give 3% when their 2.5% rate is already tops and beats PC. If your already the highest bidder why would you out bid yourself?

September 30, 2016
11:45 pm
Loonie
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...of course, we don't have any actual proof that anyone was offered 3%+...

However, if they were, one possible reason is so that Tang can get you to show them your cards. If they offer you a very high rate, you are more likely to pull ALL your liquid cash and move it there for a few months, even exceeding CDIC limits. This is very valuable information to them.

October 1, 2016
10:56 am
implode
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So my summer promotion of 3.25% expired yesterday. I just called, mentioned about PCF's 2.25% and others had 2.5% offers from Tangerine. I was told there was no promo for me after being put on hold. I then asked for help to transfer out all my money leaving only a few hundred dollars, and was put on hold once more while they check with backend. Upon returning, I was offered 3% on the entire balance for 90 days until Dec 29th 2016. Looking at my account bonuses, it is OfferSeqID=5 It seems I skipped OfferSeqID=4 with the summer promotion.

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