Negotiating with Tangerine on rates | Page 6 | Tangerine Bank | Discussion forum

I can't so easily move my money to EQ with a single click as I don't have a direct link from Tangerine to EQ due to the 3 link limitation. I have to do a double move. Furthermore, I have a 100k limit at EQ due to me being waitlisted at the time and when my account got created, I had this low limit. Tangerine holds onto my money for another 90 days. If Tangerine screws me over with a new promo after I accepted the 2% offer aleady, and they won't give me the increased rate, as I will hold a grudge, I will likely move out my money from Tangerine and probably won't look back. From posts to these forums, I think I may be joining into this small community giving up on Tangerine and its games.

moneyhelp said

I often wondered:

If I am an existing Tangerine customer and withdrew my money, and then a promo comes out, doesn't the promos usually target "new" customers, that is, non-existing Tangerine customers ONLY? Or does moving your money back considered a "new" customer again?
…

That true as far as the promos publicly advertised on Tangerine's web site. Those offers are usually targeted to new customers only. As Loonie described, moving money out and back does not make one a new customer again.

Many of the offers discussed here, like the 2% for 90 days on entire balance, are not publicly advertised. Such offers are given out to people who call in and ask if Tangerine can do better than the regular 0.8% rate.

Not everyone who calls in gets a better rate. Some who did were offered 1.6%. Others were offered 2%.

madmoney said

I was on a 3.0% promotional rate until Dec 31. Called in today and the best rate they would offer was 1.6% so I had them transfer all funds. The agent was really nice and I asked him why they wouldn't even match the 2.0% from EQ and he just said that they can't be in the game of matching every promotional rate that is out there. Volume of funds surely matters, at just under $100k thought they would at least offer 2% but no dice.

I can only assume that they have had enough people / $ accepting 1.6% or 2% that their model says 'no more at 2%'. So it doesn't matter if you have 100K or 1K, or if you quote 2% from EQ or 2.25% from PCF. I have tried 3 different strategies with 3 family accounts, but I'm not holding my breath for an offer from them, and I'm not calling in for 2%.

I got the same 1.6% offer. I pulled all my money to Alterna And Eq.
They don't care about loyalty at all. I've been there for many years through them and ING.
I will think twice before going back, they'll have to be much better!

1. I told them I was leaving and they said they would not give me more than 1.6.
I mentioned that others were given 2% and they said the amount offered to all customers is system generated and they could not go any higher.

2. I let EQ and Alterna transfer the money because it gains interest from that day, which is already in the accounts now.

I don't know if I will go back to Tangerine, they'll have to be much better than Alterna or EQ for me to go through that grovelling again.

threeoakwest said

1. I told them I was leaving and they said they would not give me more than 1.6.
I mentioned that others were given 2% and they said the amount offered to all customers is system generated and they could not go any higher.

2. I let EQ and Alterna transfer the money because it gains interest from that day, which is already in the accounts now.

I don't know if I will go back to Tangerine, they'll have to be much better than Alterna or EQ for me to go through that grovelling again.

Were you already either an EQ and Alterna customer or did you make an account in advance of your Tangerine promo ending in anticipation you were going to leave Tangerine?

Do you know how both the EQ and Alterna online banking interface is like? Or even their respective iOS mobile apps are? I'm big on technology ease of use and how it looks (I work in tech), and I have to say Tangerine is quite amazing when it comes to that, that's why come mid February when my promo ends, if I leave, that's what will make me miss Tangerine interface; including their online live chat feature, which is great!

Not trying to defend Tangerine, but you can see they have made a huge investment in their online experience with the customer focus in mind (granted I was never an ING customer, so I can't compare them to before, can only compare to other banks/credit unions), I say this because I also have an account with Achieva Financial and they are okay, but no where near as "nice" as Tangerine.

As I don't have a chequing account with Tangerine, moving temporarily to the chequing account isn't an option. I suppose the 2% on the balance might work better than the various 2.59% to 3.25% that I wasn't even offered on new deposits unless if I had moved money out of Tangerine a few days before Jan 5th.

portfoliostrat said
Just transferred back my 'new deposits' for the next quarter now at 1.96% down from 2.96% last quarter. The rate has droppedvquite a bit, but still roughly competitive with my benchmarks; Oaken, and Equitable.  

Just curious, but why did you transfer back for only 1.96%, effectively locking yourself out of any new offers from TING. JMO,but by showing your satisfaction with a lower rate than EQ provides, you'll now have to phone in and beg at the end of the "promotion" when your deposit reverts back to the 0.80%

Hey All,

My time has arrived. My 2.4% promo ended yesterday and wanted to seek advice here, as to what any of you think the best option for me would be.

Should I call Tangerine and ask for a better rate or should I withdraw my money and see if their "system" will allocate a better rate in my Tangerine message inbox?

Any feedback would be appreciated.

Cheers!

"It is very simple.
If you will call right now, you will only get max 2% for another 90 days, but not guaranteed.
If you will not call and move all your money out from Tangerine right now, you most likely will get better than 2% on April 5, 2017, but that also is not guaranteed.
Good luck!"

Why April 5th? How did you come up with that date?