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New Special Rate Offers
June 21, 2016
3:23 pm
rfdm4g4g9
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I got my 2 % extended for 90 days through webchat. But lot of questions were asked.

I had to tell EQ 2.25 % rate, plus was asked lot of questions

1. If that EQ rate is for the entire balance, I said yes
2. Am I planning to move money out, said YES. How much are you planning to move, Said entire balance
3. How did I get the initial 2 % promo from Tangerine ? Told them some agent gave it to me, and if they extend the same I will stay with them, otherwise NO
4. How long the EQ rate is for ? I said NO time limit and its their permanent ongoing rate

All this on Web Chat ! Finally after 10 mins of web chat was given 2 % for 90 more days.

June 21, 2016
5:16 pm
Rick
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rfdm4g4g9 said

I got my 2 % extended for 90 days through webchat. But lot of questions were asked.

I had to tell EQ 2.25 % rate, plus was asked lot of questions

1. If that EQ rate is for the entire balance, I said yes
2. Am I planning to move money out, said YES. How much are you planning to move, Said entire balance
3. How did I get the initial 2 % promo from Tangerine ? Told them some agent gave it to me, and if they extend the same I will stay with them, otherwise NO
4. How long the EQ rate is for ? I said NO time limit and its their permanent ongoing rate

All this on Web Chat ! Finally after 10 mins of web chat was given 2 % for 90 more days.

Good for you. I will give it a try in July when my promo rate expires. Have to be a pretty close rate match for me to stay.... 2 vs 2.25 is only 10 bux a month for 50K.... 500K makes the .25% difference not worth keeping it with Tang.

June 21, 2016
8:15 pm
Miron
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rfdm4g4g9 said

I got my 2 % extended for 90 days through webchat. But lot of questions were asked.

I had to tell EQ 2.25 % rate, plus was asked lot of questions

All this on Web Chat ! Finally after 10 mins of web chat was given 2 % for 90 more days.

I would have said: I am already getting 2.25% from EQ with NO time limit and it's their permanent ongoing rate so, if you want me to stay with Tangerine give me at least 2.5%! What is the point to negotiate for a lower rate and for just 3 months? Of course they are happy to give you 2% only...

June 22, 2016
1:37 pm
rfdm4g4g9
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Miron said

rfdm4g4g9 said

I got my 2 % extended for 90 days through webchat. But lot of questions were asked.

I had to tell EQ 2.25 % rate, plus was asked lot of questions

All this on Web Chat ! Finally after 10 mins of web chat was given 2 % for 90 more days.

I would have said: I am already getting 2.25% from EQ with NO time limit and it's their permanent ongoing rate so, if you want me to stay with Tangerine give me at least 2.5%! What is the point to negotiate for a lower rate and for just 3 months? Of course they are happy to give you 2% only...

Based on numerous posters and other forums, their best rate right now for existing clients for entire balance is 2 % for 90 days. They are not matching EQ rate or any other higher rate. Or giving 120 days, 180 days etc.

Even people with $ 500 K are not getting anything more than that when they are calling in. Some have actually moved money out , a large chunk, not just bluffed or threatened to move, but actually moved out and yet they were not given anything more than that .

Some are not even getting their existing 2 % extended and are only being offered 1.6 %..or worse NO more promotion for you ! See Saver-Mom's experience a few posts above.

So knowing all that I knew 2 % is all that I am going to get no matter what I do from Tangerine, heck they might even not give me that and just give me 1.6 %, so right off the bat I asked for my cuurent expiring 2 % for 90 more days (extension). And took it, when I got it.

I can always move it somewhere else later on if I want, but cuurently its better to have it parked at 2 % with Tangerine rather than 0.8 % or 1.6 % with Tangerine.

June 22, 2016
3:44 pm
Miron
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If this is the situation what is the point to negotiate? Move the money to EQ without wasting your time. I am getting 3% until the end of the month and if they don't give me 2.5% I am moving to EQ... although I have very little money available, it is a matter of principle! They should understand they are not doing us a favor by offering this peanuts...

Meanwhile I am opening a Smart Chequing Account with CIBC to get the gift of $300 :) Good opportunity to see again how hard it is to work with a regular bank... one has to beg them to take your money sf-frown

June 22, 2016
4:07 pm
rfdm4g4g9
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Miron said

If this is the situation what is the point to negotiate? Move the money to EQ without wasting your time. I am getting 3% until the end of the month and if they don't give me 2.5% I am moving to EQ... although I have very little money available, it is a matter of principle! They should understand they are not doing us a favor by offering this peanuts...

Meanwhile I am opening a Smart Chequing Account with CIBC to get the gift of $300 :) Good opportunity to see again how hard it is to work with a regular bank... one has to beg them to take your money sf-frown

EQ doesn't have Joint accounts.

What if you are maxed out at the CDIC 100 K limit with EQ..and don't want to go above it ?

Maybe you need a debit card and cheques.

Maybe you need things consolidated and streamlined, and don't want 10 accounts with 10 different banks for a few points more. Lot of time can be wasted in opening, closing, monitoring and managing different accounts at different places.

So if Tangerine comes very close to EQ's rate, its worth staying in one place for the convenience. Ofcourse if the difference it too great, its worth it, otherwise not so much atleast for me.

The point of negotiation is ALL the above plus getting 2 % as oppossed to their paltry 0.8 % which becomes your default rate if you don't negotiate.

June 22, 2016
6:54 pm
Rick
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The key to whether or not to move out of Tang is what will the NEXT promo be after this one expires at the end of the month and will it be on new funds only?

June 23, 2016
5:17 am
Miron
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rfdm4g4g9 said

EQ doesn't have Joint accounts.
What if you are maxed out at the CDIC 100 K limit with EQ..and don't want to go above it ?
Maybe you need things consolidated and streamlined, and don't want 10 accounts with 10 different banks for a few points more. Lot of time can be wasted in opening, closing, monitoring and managing different accounts at different places.

All of the above are legitimate reasons... unfortunately I never had the problem of too much money above 100k.

rfdm4g4g9 said Maybe you need a debit card and cheques.So if Tangerine comes very close to EQ's rate, its worth staying in one place for the convenience.

I never thought to use ING or Tangerine for my daily banking... they did not have chequing accounts or billing payments until a few years ago. Speaking about convenience... they just have a few ATMs and their cheques are not free! I think the best daily virtual bank is President's Choice... I use them since 2001... too bad their rates are so low most of the time.

June 27, 2016
4:45 pm
rfdm4g4g9
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Rick said

The key to whether or not to move out of Tang is what will the NEXT promo be after this one expires at the end of the month and will it be on new funds only?

Move it out to Tangerine chequing or EQ right now and chance it, in case its only for New deposits.

Doesn't look like NEXT promo will be any good, due to Brexit. Rates are probably going down or remaining the same for the next while.

June 28, 2016
7:29 am
rhvic
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I just tried the web-chat approach with Tangerine. I am currently getting 3% untill June 30. I asked for 2% for an additional 90 days but was told that I could only get 2% if I agreed to take it effective IMMEDIATELY. In other words, I have to give up the 3% rate for the last three days of the earlier promo, and switch now to 2% until Sept 25. Which I did, but not until first asking why they would not keep to their earlier committment of 3% to June 30 - he said it just could not be done! So I gave up about $8 in interest over those three days, in dropping by 1%.

The agent told me this was the only way they can do a new offer. Seems dodgy to me.

Suggest that others who wish to try this approach wait until the last day of their current promo to try for an extension.

June 28, 2016
10:48 am
Rick
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rfdm4g4g9 said
Move it out to Tangerine chequing or EQ right now and chance it, in case its only for New deposits.

Doesn't look like NEXT promo will be any good, due to Brexit. Rates are probably going down or remaining the same for the next while.

I'll wait till the 30th. Never occurred to just move it to my tang chequing, but if I am not mistaken, it is not one of the accounts eligible for bonus rates, so moving it back into HISA from Tang chequing should count as "new" funds come July?

rhvic said

I just tried the web-chat approach with Tangerine. I am currently getting 3% untill June 30. I asked for 2% for an additional 90 days but was told that I could only get 2% if I agreed to take it effective IMMEDIATELY. In other words, I have to give up the 3% rate for the last three days of the earlier promo, and switch now to 2% until Sept 25. Which I did, but not until first asking why they would not keep to their earlier committment of 3% to June 30 - he said it just could not be done! So I gave up about $8 in interest over those three days, in dropping by 1%.

The agent told me this was the only way they can do a new offer. Seems dodgy to me.

Suggest that others who wish to try this approach wait until the last day of their current promo to try for an extension.

Won't settle for 2 when EQ is at 2.25. That is another 7 bux a month Tang is "costing" you @ 2%. My account is all linked up and ready to move if need be. That .25% is all that is keeping that EQ account open right now, so hope they don't have plans to lower it anytime soon.

July 1, 2016
5:38 am
malquin
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Long time ING/Tangerine client. My 2%/90 days promo ended this week. Called and asked if they could offer me something. 5 minutes on hold, told me there wasn't any promo available for me.

Said thanks and mentioned politely I would me moving my savings elsewhere. Rep sounded surprised/hurt sf-surprised , asked me to wait again to talk the a superior. Came back and offered me... 2%/90 days/entire amount.

I'll keep on doing it but this game is getting to be tiresome...

July 1, 2016
5:55 am
Miron
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malquin said

Long time ING/Tangerine client. My 2%/90 days promo ended this week. Called and asked if they could offer me something. 5 minutes on hold, told me there wasn't any promo available for me.

Said thanks and mentioned politely I would me moving my savings elsewhere. Rep sounded surprised/hurt sf-surprised , asked me to wait again to talk the a superior. Came back and offered me... 2%/90 days/entire amount.

I'll keep on doing it but this game is getting to be tiresome...

I tried yesterday, at the end of my 3% period, the chat approach. After a few failed attempts and waiting times as all reps were busy, finally someone answered and said there is nothing else for me! I told her that I already have a 2.25% offer but she did not seem to care... then added: usually new offers are coming after the end of the previous one! I thanked her for the great help and started to move out some money :) I really see this game similar to those well hidden items on sale in a store... or items on sale with no displayed price! sf-confused

July 1, 2016
6:06 am
rfdm4g4g9
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Rick said

I'll wait till the 30th. Never occurred to just move it to my tang chequing, but if I am not mistaken, it is not one of the accounts eligible for bonus rates, so moving it back into HISA from Tang chequing should count as "new" funds come July?

Depends on their promo. Their last promo for " New Deposits " the Tangerine Chequing account qualified for New Deposits, so any money transfereed from that to Savings were considered to be new deposits for the promo interest. GIC, TFSA, RRSP , RRIF as usual didn't qualify, but I was surprised Checking qualified !

But the promo before that Checking account also didn't count ! So they slightly reword their promos, even though they look almost identical.

July 1, 2016
6:15 am
rfdm4g4g9
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rhvic said

I just tried the web-chat approach with Tangerine. I am currently getting 3% untill June 30. I asked for 2% for an additional 90 days but was told that I could only get 2% if I agreed to take it effective IMMEDIATELY. In other words, I have to give up the 3% rate for the last three days of the earlier promo, and switch now to 2% until Sept 25. Which I did, but not until first asking why they would not keep to their earlier committment of 3% to June 30 - he said it just could not be done! So I gave up about $8 in interest over those three days, in dropping by 1%.

The agent told me this was the only way they can do a new offer. Seems dodgy to me.

Suggest that others who wish to try this approach wait until the last day of their current promo to try for an extension.

Yes the 90 days start immediately and over rides the existing promo. They don't run 2 promos concurrently on the same account and don't let things over lap. Whatever new promo you accept starts immediately and overrides their old promo irrespective of the day till which the old promo is valid.

Now you will get 3 interest lines today on your account - showing regular interest, promo 1 interest for 27 days, promo 2 interest for 3 days.

July 1, 2016
6:18 am
rfdm4g4g9
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The key is to take the 2 % at 90 days from Tangerine anyways and not to decline it, as they might not even have that in future !

Then to move the money to EQ at 2.25 % anyways. So if tomorrow EQ reduces the rate less than 2 % , you can move it back to Tangerine.

Or if Tangerine has something better than 2.25 % for New deposits or entire balance to move it back from EQ :)

July 2, 2016
6:09 am
rfdm4g4g9
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Rick said
I'll wait till the 30th. Never occurred to just move it to my tang chequing, but if I am not mistaken, it is not one of the accounts eligible for bonus rates, so moving it back into HISA from Tang chequing should count as "new" funds come July?

Their last Net New Deposit promo which got over on June 30, Tangerine Chequing account deposits to Savings counted and qualified as Net New deposits.

Offer was 3 % for Net New Deposits from April 5 - June 30 for the Savings Account.sf-smile

Spring Savings Sale – Full Terms and Conditions

https://www.tangerine.ca/en/landing-page/springsavings2016/termsandconditions/234.html

9.The following transactions are examples of what will be considered to be Eligible Deposits for which Additional Interest will apply:

a. Money transferred from a Tangerine Chequing Account to Applicable Accounts.
b. Money transferred from another financial institution, including the Eligible Client’s linked account, to an Applicable Account.
c. Money transferred by Tangerine Email Money Transfer or Interac e-Transfer to Applicable Accounts.

July 4, 2016
4:26 pm
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My mom's 3% rate expired, I called in with her requesting an extension or better rate on her sizeable account. Three times sorry, no, so I said, "Well I guess we will have to move the money out then". Suddenly told to hold on, and after a short wait the response changed to, "Yes OK we can give you 2% for three months". I then asked if it could be extended to my account and after a longer wait was pleasantly surprised they said yes. This after two prior calls and an on-line chat had refused me. Strange, random decisions going on there. My kids were given 1.6% when they called, it was No to extending their 2%.

July 4, 2016
10:53 pm
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Congrats, Saver-Mum! No harm in asking again.. and again... and again... until you get a decent offer!

I think its time Tang started improving their TFSA and RSP rates. They just let them sit for years on end. Spouse moved the TFSA out quite a while ago, but Tang has not blinked.

July 5, 2016
5:54 am
Miron
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Same here, I called them and was offered right away the 2% which I accepted but I decided to move out half of the money to ZAG TFSA because I think that 1.65% tax free is better than 2%!

I still don't understand who on earth needs all these phone/chat 'games'? Give one rate to all customers and be done with it! How much are they paying these people to answer thousands of useless phone calls? sf-confused

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