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New Special Rate Offers
July 5, 2016
7:03 am
3oakwest
Ontario, Canada
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I just received the Tangerine offer to Sept. 30. 3.07%
I'm moving from Alterna and EQ and will move back in October.

July 5, 2016
7:21 am
Peter
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I just played the silly "ask for a better rate" game with Tangerine via their chat system:

Me:
Hi, I had a 2% savings account promo that expired near the end of June. That rate applied to my entire balance. Now I see there is a new deposit promo only. Is there any promo that can apply to my entire balance?
Me:
Otherwise I'm being punished for not having moved my money out before this new deposit promo
Tangerine:
Let me check for you.
Tangerine:
Hi, we do not have any new promotions at this time that would apply to the entire balance.
Me:
Even if I move my money out? Canadian Direct Financial's regular rate is 1.5%, and EQ Bank's is 2.25%. Tangerine's 0.8% rate is simply a non-starter now.
Tangerine:
Let me find out for you. Give me a moment please.
Tangerine [less than 1 minute later]:
I can offer you 2.00% for the next three months.

July 5, 2016
7:24 am
Miron
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threeoakwest said

I just received the Tangerine offer to Sept. 30. 3.07%
I'm moving from Alterna and EQ and will move back in October.

Are they completely out of their mind? Nooo... we are stupid to accept their game!

I am happy I moved my money... I will soon move all of them from these guys! Thieves!

July 5, 2016
12:05 pm
rfdm4g4g9
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threeoakwest said

I just received the Tangerine offer to Sept. 30. 3.07%
I'm moving from Alterna and EQ and will move back in October.

Wow. Good for you. They are giving 8 Targeted offers starting from 1.75 % to 3.25 % !! For Net New Deposits starting from July 5 - Sep 30.

I got Nothing :(

See 3.25 % OFFER link below - Targeted and Net New Deposits only.

https://www.tangerine.ca/en/landing-page/summersavings2016/101.html

July 5, 2016
12:19 pm
rfdm4g4g9
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rfdm4g4g9 said

threeoakwest said

I just received the Tangerine offer to Sept. 30. 3.07%
I'm moving from Alterna and EQ and will move back in October.

Wow. Good for you. They are giving 8 Targeted offers starting from 1.75 % to 3.25 % !! For Net New Deposits starting from July 5 - Sep 30.

I got Nothing :(

See 3.25 % OFFER link below - Targeted and Net New Deposits only.

https://www.tangerine.ca/en/landing-page/summersavings2016/101.html

Even money transferred from Tangerine Checking qualifies for the 3.25 % offer. I am kicking myself, could have transferred to the checking in an instant.
-----------------------------------------
The following transactions are examples of what will be considered to be Eligible Deposits for which Additional Interest will apply:

1.Money transferred from a Tangerine Chequing Account to Applicable Accounts.
2.Money transferred from another financial institution, including the Eligible Client's linked account, to an Applicable Account.
3.Money transferred by Tangerine Email Money Transfer or Interac e-Transfer to Applicable Accounts.
4.Money transferred from a Savings Account into a TFSA.

July 5, 2016
5:11 pm
reality
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Yeah, if they didn't lie to you...

July 5, 2016
5:44 pm
davidgeorge
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My previous 2.64% rate expired on June 30, so I moved my fund out on July 4. Now I was offered 3.25% rate, if I move the fund back, will the fund be qualified for the 3.25%? I guess, even I ask a CSR and get a "yes" answer, it is still too risky. Any thought?

July 5, 2016
6:46 pm
Norman1
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davidgeorge said

My previous 2.64% rate expired on June 30, so I moved my fund out on July 4. Now I was offered 3.25% rate, if I move the fund back, will the fund be qualified for the 3.25%? I guess, even I ask a CSR and get a "yes" answer, it is still too risky. Any thought?

Were the funds out on July 4 and the closing July 4 balance reduced? sf-smile Or did you initiate the transfer on July 4 and the funds were debited July 5. sf-frown

Check the terms of the 3.25% offer you received. The Tangerine 2.54%-on-new-deposits offer I received says Additional Interest will be paid on the part of the total balance that exceeds the sum of "balances as at July 4, 2016".

July 5, 2016
6:52 pm
davidgeorge
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Norman1 said

Were the funds out on July 4 and the closing July 4 balance reduced? sf-smile Or did you initiate the transfer on July 4 and the funds were debited July 5. sf-frown

The funds were out on July 4 and the closing July 4 balance reduced. sf-cool

July 5, 2016
7:45 pm
Norman1
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davidgeorge said
The funds were out on July 4 and the closing July 4 balance reduced. sf-cool

Looks good!

Check the fine print in the Full Terms and Conditions link at the bottom of the offer page they sent you and you should be all set!

July 5, 2016
8:28 pm
rfdm4g4g9
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Norman1 said

davidgeorge said
The funds were out on July 4 and the closing July 4 balance reduced. sf-cool

Looks good!

Check the fine print in the Full Terms and Conditions link at the bottom of the offer page they sent you and you should be all set!

It just says July 4. So they are a bit vague about it. It doesn't mention July 4 opening or closing balance.

So the snapshot could be 12.01 AM July 4 morning or 11.59 PM July 4 night. So the OP is OK if its the latter and not the former.

I would advise him to web chat with the CSR , and confirm that in writing for his record (chat transcript ), plus ask the CSR to leave a note on his file regarding the same. So if he gets a nasty surprise on August 1, when nothing is paid, he can dispute that.

July 5, 2016
8:36 pm
rfdm4g4g9
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davidgeorge said

My previous 2.64% rate expired on June 30, so I moved my fund out on July 4. Now I was offered 3.25% rate, if I move the fund back, will the fund be qualified for the 3.25%? I guess, even I ask a CSR and get a "yes" answer, it is still too risky. Any thought?

It just says July 4. So they are a bit vague about it. It doesn't mention July 4 opening or closing balance.

So the snapshot could be 12.01 AM July 4 morning or 11.59 PM July 4 night. So Its OK if its the latter and not the former.

I would advise you to web chat with the CSR , and confirm that in writing for your record (chat transcript ), plus ask the CSR to leave a note on your file regarding the same.

So if you get a nasty surprise on August 1, when nothing is paid, you can dispute that i.e the bonus net new deposit rate of 3.25 %, if its not paid.
This way you are covered and have proof.

Once they didn't give me a $ 100 bonus for some promotion they had. So I had to chat with them 3 times, and each time they told me I qualify and should have received it. Finally when I showed them the records of the chat they gave it to me :) , plus a $ 25 bonus as a good will gesture.

July 5, 2016
8:38 pm
Miron
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Peter said

I just played the silly "ask for a better rate" game with Tangerine via their chat system:

Me:
Hi, I had a 2% savings account promo that expired near the end of June. That rate applied to my entire balance. Now I see there is a new deposit promo only. Is there any promo that can apply to my entire balance?
Me:
Otherwise I'm being punished for not having moved my money out before this new deposit promo
Tangerine:
Let me check for you.
Tangerine:
Hi, we do not have any new promotions at this time that would apply to the entire balance.
Me:
Even if I move my money out? Canadian Direct Financial's regular rate is 1.5%, and EQ Bank's is 2.25%. Tangerine's 0.8% rate is simply a non-starter now.
Tangerine:
Let me find out for you. Give me a moment please.
Tangerine [less than 1 minute later]:
I can offer you 2.00% for the next three months.

I can see once again how well they know to lie! Yes, no, yes, no... not for you, yes for you!
The rule is: there is no rule! One got to love them... for 3 months only!

July 5, 2016
8:43 pm
Miron
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rfdm4g4g9 said

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

4.Money transferred from a Savings Account into a TFSA.

This is a surprise... my TFSA has a few cents for years :) I might call them in the morning...

July 5, 2016
8:47 pm
Loonie
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I would be wary of the TFSA offer. It doesn't sound like it would apply to transfers-in.
You would have to cash out your existing TFSA first, which would make you ineligible (according to CRA rules) for depositing it to Tangerine TFSA during 2016 - in other words, you couldn't do it any which way unless you already have contribution room available to you which can be used this year.
Be careful!

If you ARE eligible, be sure to factor in Tang's transfer-out fee, which you will surely have to pay in due course.

July 5, 2016
8:50 pm
Miron
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Loonie said

I would be wary of the TFSA offer. It doesn't sound like it would apply to transfers-in.
You would have to cash out your existing TFSA first, which would make you ineligible (according to CRA rules) for depositing it to Tangerine TFSA during 2016 - in other words, you couldn't do it any which way unless you already have contribution room available to you which can be used this year.
Be careful!

Thank you, I do have available room! I wish I would have more money to fill up the room ;)
The same goes for RRSP, I have a huge empty room...

July 5, 2016
8:55 pm
Miron
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Loonie said

If you ARE eligible, be sure to factor in Tang's transfer-out fee, which you will surely have to pay in due course.

Yes, that is a good point... I believe it is $50 but I can avoid that at any time waiting to get it back in January... just 3 months away!

July 5, 2016
10:01 pm
Norman1
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Money directly transferred from a TFSA at another financial institution to a Tangerine Tax-Free Savings Account could be eligible under 10.b:

3. The Offer is only applicable to Tangerine Savings Accounts and Tangerine Tax-Free Savings Accounts ("TFSA") (herein referred to collectively as "Applicable Accounts") where the Eligible Client is the Primary Account Holder as described in section 14 below. ….

10. 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.
d. Money transferred from a Savings Account into a TFSA.

July 5, 2016
10:32 pm
Loonie
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I think it's best to get clarification from Tang in writing - by email etc. You may be right, Norman, but seems a bit vague because it doesn't sound to me like the kind of language normally used to describe TFSA transfers - e.g. no reference to the CRA transfer form, does not use the word "direct" etc.

July 6, 2016
1:26 am
implode
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Ooh, I got offered 3.25% when I logged in :) Time to start moving money back into Tangerine from PCF and EQ Bank.

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