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Just offered 3% (!!!) at Tangerine for 180 days
June 28, 2015
3:44 pm
2of3aintbad
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Loonie, I agree that weasel words such as changing terms any time is not appealing or guaranteed, but Tangerine pays the bonus monthly, so if you will know on July 1 and Aug 1 if you got the expected interest. That is different than PCF, for example, who pays out bonus interest at the end of the promotion, months later.

June 28, 2015
4:31 pm
Bill
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taxed, I'm surprised by your experiences with Canadian Direct, mine have been nothing but positive. I called them last time, told them I was moving money out due to PC's 2.6% offer and they didn't quite match it but gave me a promo rate that, unlike PC, also included registered accounts, with term deposits/GICs to June 30 - so I said ok, that's even better, thanks. I'll call them in a few weeks again to see what they can do re current promotions out there, and if they won't budge I'll just move it wherever. (And I'm not that busy or proud that I can't make a 10-minute phone call to make a few bucks!) Also, I just moved money out of PC to get my accounts back to their usual $5 level, until the next promo, and I've not received the 1.5% email offer your brother got.
In general, I don't know why I'd ever be "loyal" or expect it in return - corporations, banks, etc are fictional, legal entities, in business for one purpose (they are not a "public service"), as am I "in business" to maximize my dough. Plus, not just banks but pretty much every business specializes, doesn't target everybody, they target specific niches they think they can best mine for profit. They are free to pursue the folks they're interested in, and I'm free to deal with the ones that best serve my interests. I feel very fortunate to have the choice I do here in Canada.

June 28, 2015
8:33 pm
Loonie
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2of3aintbad said

Loonie, I agree that weasel words such as changing terms any time is not appealing or guaranteed, but Tangerine pays the bonus monthly, so if you will know on July 1 and Aug 1 if you got the expected interest. That is different than PCF, for example, who pays out bonus interest at the end of the promotion, months later.

Yes, I quite agree. This is one of the reasons I have not dealt with PCF so far. It's not a matter of the amount of time it takes. I can, if necessary, take the time. My concern is that sometimes I really am not absolutely sure what PCF's offers consist of, and I find it difficult to be sure that I have taken all their "if's and but's" into account. It's not worth the headache, to me.

June 29, 2015
6:08 pm
SlowPoke
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Called back today for the promo as I transferred more than the minimum required amount into our accounts today. Without question they gave us the promotion now extended to Friends and Family. Our offer period is Good until Dec 25th , Merry Christmassf-cool

June 29, 2015
7:47 pm
Loonie
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Congrats, SlowPoke. Money talks.

I did some calculations, and I think I might come out slightly ahead of taxes and inflation at 3% rate. That's rare these days. So the difference between 3.0 and 2.6 is significant. It might mean that you get to keep some of it - however small!

June 30, 2015
7:23 am
SlowPoke
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@Loonie nice to at least get a wee bit ahead of inflation. Sadly this offer is variable so if their savings rates go down the 3% will also drop by the same. The thought that they may be aware of an upcoming rate drop has crossed my mind. Yet we are also not locked in if it does.

July 1, 2015
6:51 am
rs
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July 1, 2015
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I just got in before the offer expired at midnight on the June 30th....fantastic rate....thanks for the posting!

rs

July 1, 2015
6:55 am
rs
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The 3 % rate is guaranteed for 180 days UNLESS you drop below the initial balance you started with. The rate is indicated on your account page by clicking on the "Account Info" drop down.

July 1, 2015
9:17 am
2of3aintbad
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rs, where do you see the initial minimum balance restriction? By the way, the promotional interest for June has been posted in my account - separately for the 2.10% portion and the 3%

July 1, 2015
10:04 am
Norman1
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Tangerine's 3% for 180 days offer may not have expired yesterday, June 30th.

Some people reported that they called Tangerine this Canada Day morning and got accepted for the offer: Page 19 of the RedFlagDeals.com thread [Tangerine] Targeted offer: 3% for 6 months on Saving Account.

July 2, 2015
8:10 am
linux4ever
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I did call them the second time and they offered me the 3%. Before I called them, I initiated the transfer. I do not know if they noticed or they knew I am about to do it, but I got the rate. Happy puppy!sf-wink

July 2, 2015
5:20 pm
JustMe
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I do not think there is a condition to have 3% unless you go 'initial balance'. 3% is for the entire balance, even if you drop to $1. Condition to get 3% was to have at least 10K.
Under account info, interest is still 1.05% same at it was when promotion was 2.1%.
This is a Special - bonus rate not reported on Account Info.

July 2, 2015
9:16 pm
Norman1
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There should be an indication under Account Info if one has the 3% offer.

It should say that your current interest rate is 1.05% and the special offer that is in effect:

Your current interest rate: 1.05%

Special offer: Earn 3% interest on your Account until [date that's 180 days from offer acceptance], 2015. Learn more

July 3, 2015
4:54 pm
JustMe
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You are correct. Tang rep has pointed out that to me when I inquired 'I do not see my 3%'. Duh. Wording should be more clear or to the point. Something like 'You ARE currently earning 3%...' As they have now it looks like you Could earn...
To get this offer you have to speak to somebody; it is not automatic.

July 3, 2015
6:26 pm
Norman1
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I agree. The wording could be much better. Maybe something like the following:

Your current interest rate: 1.05%

Your currently active special offer: Earn 3% interest on your Account until [date that's 180 days from offer acceptance]. Learn more

July 3, 2015
9:34 pm
Loonie
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I agree, the Profile should state the rate that is currently in effect clearly. I have to wonder what the reason is for not doing this. It doesn't inspire confidence in the rate.

Has anyone successfully done the math on this offer for the July 1 interest deposit? I have tried and am hopelessly confused. Even in the account where there was no activity during June, I can't seem to make it work out to the amount they have given me.

I have decided not to bother about it further. Will wait for Aug 1. But I would love to hear some reassurance that others have found the calculations to be accurate.

Further, I was told the rate would kick in immediately, which was June 23, but as best as I can figure out, it really kicked in on June 26. On that basis, it should last 3 days longer than I was told. It's not a big deal as long as they honour the 180 days. I may have to phone, but am not confident of good answers.

July 4, 2015
3:11 am
2of3aintbad
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Loonie, under My info and options, My contest entries and Bonuses, I see a Start Date for 'Limited Time Offer' of 24-June. What date do you see? My calculation of 1.95% for 7 days indeed matches the 'Promotional Bonus interest' in the Transaction History deposited 1-July

July 4, 2015
4:51 am
JustMe
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Hair splitting if interest kicked off +/-1 or 3 days has no point. Unless you deposited max 0.5M generating about $40/day, everything else is pocket change not worth typing comments.

July 4, 2015
11:59 am
Norman1
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Loonie said

I agree, the Profile should state the rate that is currently in effect clearly. I have to wonder what the reason is for not doing this. It doesn't inspire confidence in the rate.
....

I suspect that's probably because their marketing department is coming up with offers faster than IT staff can safely make changes to their web site!

Has anyone successfully done the math on this offer for the July 1 interest deposit? I have tried and am hopelessly confused. Even in the account where there was no activity during June, I can't seem to make it work out to the amount they have given me.

I have decided not to bother about it further. Will wait for Aug 1. But I would love to hear some reassurance that others have found the calculations to be accurate.
....

Did your Additional Interest calculation only include Eligible Deposits?

According to this offer condition, Additional Interest is paid only on the part of the balance that is made up of Eligible Deposits. That doesn't not include any of the balance that is Additional Interest from previous months or is regular 1.05% interest from previous months:

12. Any interest paid into an Applicable Account, including Additional Interest, will not be treated as a new deposit for subsequently calculating Additional Interest payments.

July 4, 2015
7:01 pm
Loonie
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I don't see how they could possibly go back through all the interest ever deposited and declare it not subject to additional interest This would be even more difficult when there have been withdrawals. Who's to say whether a withdrawal is from principal or interest?

In any event, it is beyond me to sort this out. I just want to know if anyone else has done the math and found it to be correct.

If nobody is able to verify their numbers, or nobody has tried successfully, then I have to ask myself if we're really getting what we thought we were getting, or did we miss something in the T&C? It's possible that they could make it so complicated that very few people could follow it. I just want to know that I have understood the offer correctly, and that they are giving us what they said they would.

When they arrange it this way, with offer upon offer, each a little different, rather than just a straight rate throughout, it can be very difficult to follow - particularly when as with my account, the online version does not specify any details yet, although clearly some interest was posted related to this offer. If it's subject to change at any time, how would I know if it has changed? - unless I called them every day to inquire.

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