New Offer from Tangerine ( Nov.5, 2024 to Jan.31, 2025) | Tangerine Bank | Discussion forum

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New Offer from Tangerine ( Nov.5, 2024 to Jan.31, 2025)
November 5, 2024
9:46 am
Warwick111
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Our offers expired on Oct. 31. I received nothing and my wife received 4.75%. No email yet but the offer is on Insight.

This special rate is our way of helping you work towards your savings goals faster. Here’s how you can start earning 4.75% interest* on new deposits to your eligible Tangerine Savings Account(s):

1. Click the ‘Activate Now’ button below by November 30, 2024
2. Deposit new money into your eligible Accounts from November 5, 2024 to January 31, 2025 (up to a maximum of $1,000,000.00 per Applicable Account Type*) to earn your special 4.75% rate on those deposits.
Once you’ve activated, here’s how it will work:
3. We’ll total up the balances of your eligible Savings as they were on November 4, 2024 to get your total balances per Account Type
4. From November 5, 2024 to January 31, 2025, you’ll earn your special interest rate on new deposits over your total balances calculated on November 4, 2024 (up to $1,000,000.00† per Account Type)
5. The rest of your Account balance will earn the current posted rate

November 5, 2024
10:20 am
Bill
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I received same offer, spouse same except 4.25%.

Previously Insights had shown a 180 day GIC for 4.4% available until Nov 7 offer for me but it was gone today, pushed out maybe by the new 4.75% offer. But when I went in and pretended to buy a GIC my 4.4% offer was still there. I've noticed previous instances where Insights had offers disappearing and then coming back again, sometimes just by refreshing the page, maybe you have to poke around a bit to see all that's on offer.

November 5, 2024
12:20 pm
rhvic
Victoria, BC
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No such offer for me. My promo also ended Oct. 31. My money is not staying at Tang at 0.30%!

November 5, 2024
1:34 pm
Dean
Valhalla Mountains, British Columbia
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.
My new offer from Tang came in 2day as well.

4.75% on new $ Jan 31.

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

November 5, 2024
2:15 pm
Peter
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No offer for my wife or me this time!

November 5, 2024
4:36 pm
mordko
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5.35%. They must use a random number generator.

November 5, 2024
4:44 pm
Bill
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Our offers fit our pattern I've noticed, i.e. we usually get offers but never the top rates being offered. I've always accepted a reasonable offer, not worried about getting top rate, that's my pattern, and sure enough that's what we always get offered for a couple of years now. Their program has learned I will be bought as long as it's reasonable.

November 5, 2024
5:41 pm
Dean
Valhalla Mountains, British Columbia
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.
. . . Ditto ⬆

Anything @ (or above) 4% is pretty Sweet these dayz.

By the time these latest Tang offers are over (Jan. 31, '25), we'll probably be lucky to see much above 3% going forward.

This 'High Interest Rate Party' is coming to an End. By this time next year (Nov. '25), some of us will revert to keeping their $$$ in an Old Sock. sf-wink

C'est La Vie ❗

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

November 8, 2024
4:34 am
dentgal
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are you getting these offers AFTER your existing offer expired?
Did you pull your money out prior to the period ending, as they are only offering this special rate on NEW money?
What do you suggest? Should I pull the money out about 5 days before the end of y promo, hoping for a new promo?
I have 6 figures there and my promo ends at the end of Nov. I also have a promo at Simplii ending Nov 15.
Thank you for your help!

November 8, 2024
4:50 am
savemoresaveoften
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dentgal said
are you getting these offers AFTER your existing offer expired?
Did you pull your money out prior to the period ending, as they are only offering this special rate on NEW money?
What do you suggest? Should I pull the money out about 5 days before the end of y promo, hoping for a new promo?
I have 6 figures there and my promo ends at the end of Nov. I also have a promo at Simplii ending Nov 15.
Thank you for your help!  

Tang varies it with some being new money only, some are essentially an extension of existing money. Your best strategy is to always pull BEFORE current offer expires. If everybody does that ALL the time, it will force their hands to offer better rates overall and be more consistent.
And you WILL not receive new offer with an existing offer, unless its an extension, however new rate may NOT be same as what you currently has.
Also keep in mind once you accept an offer, they can NOT cancel it for you even if you change your mind.

November 8, 2024
8:23 am
mustang
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Yes, that has always been my strategy:
Make sure to pull everything out a few days before offer expires
For this past year, I believe we have always gotten a new offer a week or so later
Of course, there is no guarantee of that happening, but if you have already pulled your money out, and don't get a new offer, no harm, no foul.

November 8, 2024
8:50 am
Norman1
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New Tangerine offers are after one's current offer expires. As savemoresaveoften described, one won't receive another offer while one is on an offer.

Sometimes, before one's offer expires, Tangerine will let one know that one has been selected for a subsequent offer and one can leave the money in the account.

November 8, 2024
3:28 pm
elephantinroom
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TLDR: A mini tale of woe about Tangerine reneging on a promo offer instead of fixing a simple problem.

Last week (see previous posts) I was waiting to receive an "Nov 1" activation email for a 5.25% Nov 1 - Jan 31 promo that was promised in a targeted Oct 30 email. I found out today (after a few misleading calls in the meantime) that Tangerine is reneging: the activation email is not coming after all.

What I didn't mention last week is that I called Tangerine on Oct 30 intending to move my funds out (due a previous promo expiring Oct 31), unaware that, literally minutes before I called, I received an email announcing that I had been selected for a new 5.25% promo (which would have applied to all new funds in my account since Aug 7, meaning I wouldn't have to move anything at all from Tangerine!). However, the Tangerine rep (also apparently unaware that I was already selected for the new 5.25% promo), instead offered me 3.95% for 120 days --- which I accepted since it was competitive with where I was going to park the money temporarily while looking for something better if no offer was to be forthcoming from Tangerine. Needless to say, once I saw the 5.25% promo email a few minutes later, I called Tangerine back and was told not to worry: the 5.25% activation email that I should expect to receive on Nov 1 would over-ride the 3.95% 120-day rate.

So, as per my previous post, I called again on Nov 1 asking about my activation email (retelling my story) and was told again not to worry: there were apparently technical difficulties and some "Nov 1" activation emails would have to be re-sent; they said to give it until Nov 4.

So I give it until Nov 6 and call again. After I re-told the story, the rep thought that the 5.25% activation e-mail wouldn't come automatically but that someone "on the backend" would like have to do something to make the 5.25% activation available to me. So they opened a ticket/request and thought it'd take a few days to resolve. It sounded plausible and promising.

Yesterday (Nov 7) I got an email from Tangerine saying that "the request is now completed" but there was no indication that anything had changed. So I called again today (Nov 8) and the representative initially said to disregard the "completed" email --- that that just meant that the request was still being processed internally --- but they'd check up to on the "real" status of the request. That's when they settled on the story that once I accepted the 3.95% rate that I was no longer eligible for the longer-term 5.25% rate --- even though I'd (unknowingly) already been targeted/selected for the 5.25% rate.

Aside from the time spent, this is not a big deal: I've since noted that Motive Financial has a 5.35% rate for 120 days (for new accounts) so I've opened an account and am moving the funds there in the next few days. What's disappointing is getting the false-hope run-around from well-intentioned front-line Tangerine staff that are some combination of being un-informed and/or un-empowered to make simple things right; at least everyone was polite. As a final step I escalated beyond the front line to ensure they know what happened. At the very least perhaps some better training will emerge.

November 9, 2024
6:38 am
dentgal
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Mustang, you say no harm no foul. If I keep my money at Tangerine, they have been offering me a pretty good rate for the last number of years. But it is not as good as the promo rates that everyone are talking about. If I pull my money out, and don’t get a promo rate, the base interest-rate right now is .3%. So the question is, do you accept a perhaps 3.5 rate and keep the funds there, (I’m just guessing that number), or do you pull it all out and hope that you get the promo. But if you don’t, you’re back to .3. I have an account with Simplii and I have the same problem. My promotion is ending November 15. I don’t have motive or any of the other online banks.

November 9, 2024
8:24 am
frugal lady
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Took awhile to get a new offer of 5.1% Nov 5 to Jan 31,2025

Last offer ended September 30, 2024

November 9, 2024
8:49 am
Norman1
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dentgal said
… If I pull my money out, and don’t get a promo rate, the base interest-rate right now is .3%. So the question is, do you accept a perhaps 3.5 rate and keep the funds there, (I’m just guessing that number), or do you pull it all out and hope that you get the promo. But if you don’t, you’re back to .3. …

One will be able to do much better than 0.3% if one doesn't accept a Tangerine offer and transfers the money out.

RBC Royal Bank offers one-year variable-rate GIC's that are cashable after first 30 days with no penalty. One can park money there between offers:

Term $5,000 to
$49,999.99
$50,000 to
$99,999.99
$100,000 to
$249,999.99
$250,000 to
$999,999.99
$1,000,000 and
over
1 year P - 2.45%
[3.50%]
P - 2.25%
[3.70%]
P - 2.00%
[3.95%]

For larger amounts of money, it could be worthwhile for the overhead of having an RBC chequing or savings account to move the money through.

November 9, 2024
1:00 pm
Bill
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I'm not totally surprised at different departments at Tangerine giving different information.

This week my wife, who's had an account since initial ING days and has for some time now had a number of various active accounts with them, received a snail mail package welcoming her as a new client with a supposedly new savings account, citing the same client number she's had forever.

The only business she's done lately was last week she called in to be added as secondary joint holder of a gic I'd just purchased online, we figure that's what triggered this baffling mail package.

November 20, 2024
12:03 pm
HermanH
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Got a 5.1% offer until January.

I had problems activating the rate, though. Every time I clicked on the 'Activate Now' button, I got a blank/white area and no confirmation. I checked my accounts and the offer was not activated. I finally had to call a CSR and she did it manually.

November 20, 2024
4:50 pm
Moneyman2
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My 5.50% rate expired Nov/15/24 from Simplii, I waited until the 16th to push it to Tangerine @5.10% which is still not bad. Just received another offer from Simplii @5.25% until February 28, 2025. Still have to wait until money clears at Tangerine and no holds. Will immediately move my money back to Simplii. They must really want my $250k. GL

November 20, 2024
8:23 pm
frugal lady
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Moneyman2 said
My 5.50% rate expired Nov/15/24 from Simplii, I waited until the 16th to push it to Tangerine @5.10% which is still not bad. Just received another offer from Simplii @5.25% until February 28, 2025. Still have to wait until money clears at Tangerine and no holds. Will immediately move my money back to Simplii. They must really want my $250k. GL  

You better read the Terms of the new 5.25% Simplii offer carefully before you transfer it back. i.e. promo interest paid on funds that exceed the closing balance as at November 15th.

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