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Negotiating with Tangerine on rates
December 5, 2016
6:34 pm
Bill
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Thanks, Winnie, I've never been contacted by email or had any offers present themselves when I sign in, I always have to call the day after a promo expires. Maybe I should try the "disinterest with a dash of disdain" approach! All I see now is under My Info & Options, My Contest Entries and Bonuses there's a history of the promos I've had previously plus the current one, so maybe they look at that when I call and can see that I'm "easy" so they know that 2% or so is enough to keep me from straying. I've been a customer since pretty much day one too.

December 6, 2016
4:08 pm
ronsuperior1
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Bill said

Yes, it is possible. As we all know from personal experience, it's way easier to blow off someone via text than by having a verbal conversation. Try it, be positive and charming, and let us know.

Well I had to call Tangerine for something else, so I asked if they could match. Their answer: No way, we never offer more than 2%.

So I guess you guys are right about the computer algorithms. In about 2 weeks i'm going to take out about 75% of my money from Tangerine. We'll see how they react.

December 6, 2016
8:06 pm
moneyhelp
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ronsuperior1 said

Bill said

Yes, it is possible. As we all know from personal experience, it's way easier to blow off someone via text than by having a verbal conversation. Try it, be positive and charming, and let us know.

Well I had to call Tangerine for something else, so I asked if they could match. Their answer: No way, we never offer more than 2%.

So I guess you guys are right about the computer algorithms. In about 2 weeks i'm going to take out about 75% of my money from Tangerine. We'll see how they react.

Yes, please let us know, I'm very curious myself :)

December 7, 2016
4:55 am
Saver-Mom
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At one point Tang downgraded the offer to my kids to 2%, while mainintaing my offer at 2.5%. Is this because I have a larger amount, or have transferred out, not sure. But it is annoying.

Bill, I have never been contacted either, despite being a customer from early ING days, and from having a lot of transfers in my history.

I suspect Tang will start offering max of 2% at this point. Let's see.

December 7, 2016
2:23 pm
trinitrotoluene
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So I just got off the phone with Tangerine. I asked if they could increase my rate (RRSP savings account and TFSAs) - they said no. I clarified with them I will be looking to move my money away from Tangerine, again, they repeated they could do nothing for me (there are no bonus offers at this time).

Looks like I will be moving my money away from Tangerine, which is unfortunate, as they have been good to me in the past. sf-cry

December 7, 2016
3:08 pm
Rick
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trinitrotoluene said
Looks like I will be moving my money away from Tangerine, which is unfortunate, as they have been good to me in the past. sf-cry

I feel your pain. I was with them since the beginning and have been left out of promos, dinged with transfer fees, lost interest and just got tired of feeling unappreciated by having to beg for a decent rate. I still have an account, but it will have to be worth my while to move it out of EQ or PC just to have to move it back after the promo. Too bad. They are certainly no ING.

December 12, 2016
12:22 pm
gooch
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December 12, 2016
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Phoned today as I have my promo offer of 2.5% ending tomorrow. Was offered 1.6% on 100K. Told them I would move to Pres Choice for 2.25%. They said I was welcome to do so. I just did. In the past 3 months I have pulled 200K out of their bank because I can get better interest rates at PC Financial. Doesn't look like they are as hungry for business as they used to be. Won't go back until offers improve.

December 12, 2016
12:57 pm
bpwest
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gooch said

Phoned today as I have my promo offer of 2.5% ending tomorrow. Was offered 1.6% on 100K. Told them I would move to Pres Choice for 2.25%. They said I was welcome to do so. I just did. In the past 3 months I have pulled 200K out of their bank because I can get better interest rates at PC Financial. Doesn't look like they are as hungry for business as they used to be. Won't go back until offers improve.

Interesting and illuminating, as always, the experiences of members of the collective...I was recently encouraged by Tang CSR to call back closer to the expiration of my promo rate (last week of December), and they would see what they could do...one shouldn't get their hopes up when spinning the Tangerine roulette wheel, I supposesf-wink

December 12, 2016
1:51 pm
Bill
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In my case, Tangerine likes patience. They seem much more agreeable if I call a day or two after the promo ends instead of a day early or on the last day, i.e. when they can actually do something for me that moment. bpwest's comment suggests the same. Maybe they have a harder time turning me down when I can say, hey, I'm now getting .8% so you can certainly understand why my money is itching to move to my other higher interest accounts. Plus, no matter what I betray zero negativity, it's always positive and lighthearted, I act like I love the place, and it's worked for me. My promo ends soon - now that I've said this I'll probably be crying the blues on here then!

December 12, 2016
7:42 pm
Loonie
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The last time my rate at Tang came up for review, I had recently moved money to 3% deal at Meridian for 3 months, which was too good to pass up. That is ending soon. I'm going to wait and see who offers what in January. If nothing good, I'll put it in staggered cashable one year GICs at Hubert. In fact, I think I'll start this month on that project.

December 13, 2016
1:49 pm
dentgal
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I guess i'm one of the lucky ones--i'm getting 2.5% until january 13th; then i'll be scrambling again (maybe)). At the last "expiry date", when I was getting 2%, I called in and they immediately offered 2.5%. I guess they've seen from my history that I'll pull the money if the rate isn't high enough. But, it's getting harder and harder to find these rates. I put a fair chunk of change into Oaken for 2.5 X 2 years and X3 years--so at least I don't have to chase rates with some of the money.
p.s. did anyone else get the yummy box of chocolates from Oaken for the holidays?? I ate 1/2 of it the first night:(

p.s. "moneyhelp": i think that many of us switch between President's Choice (PC) and Tangarine--whoever is offering the best rates! It's not the "posted" rates; they will offer more to some clients if you call. I do not know what the dollar threshold is for this.

December 13, 2016
4:04 pm
deepcman
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My 2.5% offer ended yesterday so I called today. At first the CSR told me that there were no available offers but asked if I was considering moving funds. I told him that I was going to move to Alterna (1.95% rate) and he asked if I wouldn't mind holding while he checked on retention offers. He came back and offered me 2% for 90 days on mine and the wife's accounts.
This calling every 3 months is getting old but it's worth the money given its a 5-10 minute call.

December 13, 2016
5:27 pm
moneyhelp
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deepcman said

My 2.5% offer ended yesterday so I called today. At first the CSR told me that there were no available offers but asked if I was considering moving funds. I told him that I was going to move to Alterna (1.95% rate) and he asked if I wouldn't mind holding while he checked on retention offers. He came back and offered me 2% for 90 days on mine and the wife's accounts.
This calling every 3 months is getting old but it's worth the money given its a 5-10 minute call.

Can you tell us what the "tone" of that conversation was like? Meaning, did you have to really fight for that rate or was it a simple,

you: Any available offers for a better rate?
Tang: I'm sorry, there is not.
you: that's disappointing, because other places offer a better rate.
Tang: you're thinking of moving your funds elsewhere?
you: yep
Tang: ok fine, here's 2% for you and your wife.

Sorry for the comedic relief there, but I'm also wondering if we are talking about funds in the 6 digits? Just thinking if the amount is a factor here.

Thanks

December 14, 2016
5:13 pm
Slybanking
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My 2.5% offer ends December 24th, I will let you know what happens. As an option, CIBC offers 1.75 over a minimum of 5,000$ till March 31st 2017. Could be an option if Tangerine gives me nothing.

December 14, 2016
7:20 pm
Loonie
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Why not take Alterna at 1.95 or EQ at 2.0 instead of short-lived 1.75 at CIBC? - unless you're already maxed out at those and still need more savings accounts. Alterna and EQ have held these rates for quite a few months now.
Or maybe something better will come along...

December 15, 2016
7:48 am
JW
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Came off 2.5% yesterday. Best offer Tan could do 1.6% for 90days. Just moved about $300K to PC at 2.25%. CSR process was to log-in to my account and see if any online offers. I confirmed none. CSR consulted back office and best could do was 1.6%. CSR was well aware we would move out if could not do better than 1.6%. They were not interested in keeping our business, so we moved.

December 15, 2016
8:06 am
JW
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Some further info. We initially moved to Tan April 2015 for initial offer. They renewed 4 times since at competitive rates when we phoned. This time they no longer were interested in our deposits. So we moved to 2.25%.

December 15, 2016
8:49 am
toto
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You might still get targeted to come back when they start a new promotion

December 15, 2016
8:52 am
Slybanking
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You got it right, I am max out at Alterna and Oaken, also EQ and PC are not yet available in Quebec. I am waiting on EQ and PC for a while now. Will see what Tangerine has to say in a couple of weeks but it does not sound promising with what JW just said.

December 15, 2016
1:38 pm
Loonie
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Tang may be a better bet in the new year. A lot of people still have good active promos that don't expire until the end of the month, so they may not need your money right now. "toto" may be right.
Ask again later.

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