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New Special Rate Offers
June 13, 2016
5:42 pm
Loonie
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Maybe the people who moved their money out had more impact than they realize, so Tang's tactics have changed lest others follow suit.
Be prepared, however, for another new twist. I don't know what it will be, but they won't stop here.

June 14, 2016
7:52 pm
Rick
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They only offered me 2.76 but my daughter 3. So I've opened a Tang chequing acct and will link it to EQ so I don't have to bounce the funds around to my other bank. Maybe once they see the link I will get the better offer next time. Still don't know if I should clear out the Tang acct on Jun 29 so I can put it back in as "new funds" in July.

June 15, 2016
5:31 am
Miron
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Rick said

They only offered me 2.76 but my daughter 3. So I've opened a Tang chequing acct and will link it to EQ so I don't have to bounce the funds around to my other bank. Maybe once they see the link I will get the better offer next time. Still don't know if I should clear out the Tang acct on Jun 29 so I can put it back in as "new funds" in July.

The 3% offer starting on Apr. 01 was taking into account the balance on March 25 if I remember well... so June 29 could be too late...

June 15, 2016
6:10 am
Saver-Mom
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Called Tang last week when my 2% rate expired and was offered the same for 90 days, said I would wait a bit and call back. Today I called back and was told the promo is "expired", they will not do better than 0.8%! Asked for supervisor who confirmed no promo for me. Not interested in hearing I plan to transfer in a large amount, nor that I could transfer payroll deposit. I feel I am being punished.

June 15, 2016
6:23 am
Miron
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Saver-Mom said

Called Tang last week when my 2% rate expired and was offered the same for 90 days, said I would wait a bit and call back. Today I called back and was told the promo is "expired", they will not do better than 0.8%! Asked for supervisor who confirmed no promo for me. Not interested in hearing I plan to transfer in a large amount, nor that I could transfer payroll deposit. I feel I am being punished.

Punish them back by moving to EQ to get 2.25 :)

June 15, 2016
6:43 am
Saver-Mom
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Wish I could but they aren't available to Quebec residents.

June 15, 2016
6:50 am
Miron
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Saver-Mom said

Wish I could but they aren't available to Quebec residents.

OK, then go for President's Choice for 1.75% ;)

June 15, 2016
10:00 am
Loonie
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That's a really nasty experience, Saver-Mom.
It is reminiscent of the most crass of marketing manoeuvres, normally restricted to hucksters and door-to-door water heater sales. If there was to be a deadline, you ought to have been informed. Even the showman at the CNE will say, "Today only. Step right up!." (and it's not usually even true).

I appreciate your sharing it with us.

Alterna has 1.95, which is almost 2.0, and you don't have to waste your time arguing about it or be insulted. The comparison chart says it's available to QC. And they do joint accounts.

June 15, 2016
5:56 pm
rfdm4g4g9
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Saver-Mom said

Called Tang last week when my 2% rate expired and was offered the same for 90 days, said I would wait a bit and call back. Today I called back and was told the promo is "expired", they will not do better than 0.8%! Asked for supervisor who confirmed no promo for me. Not interested in hearing I plan to transfer in a large amount, nor that I could transfer payroll deposit. I feel I am being punished.

https://repsourcepublic.manulife.com/wps/wcm/connect/7826f3004c3d1cf78507af6512579e9b/Personal+Advantage+New+Balance+Rate+Promo+-+T%26C_E.pdf?MOD=AJPERES&CACHEID=7826f3004c3d1cf78507af6512579e9b

Manulife bank has a special promo rate of 2.5 % till August 31 st.

But you had to make the deposit by today i.e June 15, maybe they might extend the offer. You have to meet a FA to open the account ( I think ). I don't think you can open it online.

There is no pressure to buy anything else, its a simple form you fill up and can open just the bank account.

June 18, 2016
6:52 am
Saver-Mom
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Thanks Loonie. I am considering Alterna but am disappointed by the low limits on transfers out. Miron, PC is not in QC either! Rfdm, I will look into Manulife but suspect the advisor setup is a way to try and sell you on their many other products/services. Tangerine is punishing me either for moving money out of the account, or declining their 2% offer initially. When I called back planning to accept the 2% I was told there was "no promotional rate available for you". I asked to speak to a supervisor and was told "ok, but they won't do anything". I mentioned that everyone else is being offered 2%, and they said "oh, who?". I responded "everyone on several blogs I read. Supervisor just kept repeating "no promotion available for you". This, after keeping large sums of money with them since the early days of ING. My husband things Scotia is trying to kill Tang.

June 18, 2016
9:25 am
Winnie
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Saver-Mom said

Thanks Loonie. I am considering Alterna but am disappointed by the low limits on transfers out. Miron, PC is not in QC either! Rfdm, I will look into Manulife but suspect the advisor setup is a way to try and sell you on their many other products/services. Tangerine is punishing me either for moving money out of the account, or declining their 2% offer initially. When I called back planning to accept the 2% I was told there was "no promotional rate available for you". I asked to speak to a supervisor and was told "ok, but they won't do anything". I mentioned that everyone else is being offered 2%, and they said "oh, who?". I responded "everyone on several blogs I read. Supervisor just kept repeating "no promotion available for you". This, after keeping large sums of money with them since the early days of ING. My husband things Scotia is trying to kill Tang.

I also was told that there was "no promotional rate available for you" when I called Tangerine on June 15, 2016 after my 2% rate expired.

Tangerine CSR told me that he will consult with "his team" and review my profile. That took him exactly 12 minutes and after that he proudly confirmed to me, that "no promotional rate available for you", period.

I did not bothered to speak to a supervisor and transferred immediately all money out from Tangerine.
I also was one of the first ING customers, opened my account in 1998.
So, you are not alone, Saver-Mom.

June 18, 2016
10:42 am
implode
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My 2% promo with Tangerine expires today on June 18th. I had called in a few days ago to inquire, but was told no promotion available to me. So I initiated 2 transfers out to destined for EQ Bank at 2.25%, but as I only got my account in the past few weeks, I have their lower account balance threshold. Today, I've just set a series of transfer outs to PCF due to Tangerine's maximum daily transfer out amount. I didn't even bother trying to call Tangerine again seeing the above. 1.75% is still better than 0.8%

June 18, 2016
11:51 am
Bill
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implode, not saying this works for everyone but I don't bug Tangerine ahead of time, I wait a couple of days after and then call and ask, hey, what's up now, can you do anything? You know, act all cool and casual with a hint of disinterest - a tactic all guys have used before sf-cool. Plus as long as they're close, they don't have to beat every deal out there. It's worked the last two times. And my previous history is one of extreme disloyalty.

June 18, 2016
1:13 pm
Loonie
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You can get money out of Tangerine by transferring funds to chequing and writing a cheque. I don't think there is any limit there. I don't know, but perhaps you can do the same thing at Alterna by opening a companion chequing account.

I agree with Bill's approach. I don't think there is any point in inquiring ahead of time, as they won't do anything. It's worth asking after the previous deal has expired though.

Spouse was offered 2% x 3 months today, as we anticipated, and accepted it (bearing in mind Saver-Mom's experience). I haven't called yet but would expect to get the same.
Spouse then moved most of it to chequing, and it will then go to Luminus where the offer is 3.5 for same time period (only for Ontarians). It's apples to apples, so why not? This is first major withdrawal from that ING/Tang account, which has been open for a really long time.

I don't know if Scotia is trying to "kill" Tang, and not sure what that would mean, but they're certainly making it more unpredictable and difficult to deal with.
I think they're basically doing what every bank does - trying to figure out how to make the most profit for them by acquiring, keeping and redeploying our money to maximum possible. ING did it in a more even-handed way, treating everyone the same, but Tang thinks it can segment its markets etc. I think it's the lack of transparency that is driving us all nuts. Nobody knows why they are or are not being given a certain rate, and therefore has no ability to improve the odds. I suspect this will ultimately be self-defeating for Tang as it just annoys people and wears them down.

I think the best response to "no promotional rate available for you" may be "then there is money available for you," and move the money out immediately. Carrot-and-stick goes both ways. I am willing to be loyal to a degree, and don't expect to get the absolute maximum promo rate every time, as that is not going to happen in a promo-driven landscape, but if they're not holding up their end, bye!

June 18, 2016
9:25 pm
Miron
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Loonie said

Spouse then moved most of it to chequing, and it will then go to Luminus where the offer is 3.5 for same time period (only for Ontarians). It's apples to apples, so why not?

What is Luminus? 3.5% is very good indeed!

June 18, 2016
10:40 pm
Loonie
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June 19, 2016
4:05 am
3oakwest
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I think Loonie may by on the right tract. Maybe Scotiabank is trying to get rid of TNG. Actually Scotiabank has higher interest rates on some of their accounts, namely Momentum now at 1.5 if kept over three months and Accelerator in the investment division at .9. Both require minimum of $5000.00 however. Both at no fees if you do internet banking.
I'm surprised TNG behaves as they do to customers, I've been with them since early in the ING days and cannot get an offer from them for anything higher than .8. Also, with the launch of their very popular Master Card, I thought they would like to keep customers. I'll soon be done with them!

June 19, 2016
3:08 pm
Miron
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Loonie said

https://www.highinterestsavings.ca/forum/announcements/luminus-financial-promo-3-5/

Thank you, Loonie! Too controversial for me!

June 19, 2016
5:27 pm
Rick
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Miron said
The 3% offer starting on Apr. 01 was taking into account the balance on March 25 if I remember well... so June 29 could be too late...

Funds have been in tang since April. opened the checkng account to move it out quickly if there is no other offer after mine expires on Jun 30. I was wondering if the next promo will be funds already existing or "new" funds only...hence pondering moving it out Jun 29 to count as new funds on July whatever IF I move it back in. Thinking now of trying Bill's approach.

June 20, 2016
5:40 pm
deepcman
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My 2% offer ended on June 17th so I called to see what offers were available. The CSR said there were no promotional rates and didn't flinch when I said I'd move money to Oaken.
I decided to call back and asked the next CSR that since I wasn't eligible for the 2.4% for new customers, was there anything he could do since I've need a long time customer. He offered 2% for 90 days which I accepted and then I put the wife on the phone so she could get the same offer. I tried to push him to get the 2% for 6 months but he declined and said that I just need to call back in 90 days.
Not sure if I got lucky and just got the right CSR.

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