New Tangerine Offer from Sept. 7, 2021 to Jan 31,2022 | Page 3 | Tangerine Bank | Discussion forum

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New Tangerine Offer from Sept. 7, 2021 to Jan 31,2022
January 28, 2022
5:38 pm
Loonie
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LK said
I checked Tangerine today, and it says that my 1.4% promo -- which was scheduled to end on January 31 -- has been extended to March 31. I didn't ask and had no notice of such -- just saw it when I checked the "account details" tab.

It now says this:
Your special rate is active! Nice! You're earning a special interest rate of 1.40% on new deposits to this Account until March 31, 2022.

Anyone else notice this? Did you get notice of the extension?  

No such luck on spouse's account.
We withdrew the money 2 days ago, and it wasn't very much anyway.

January 28, 2022
8:45 pm
maGIC
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Loonie
“Your special rate is active! Nice! You're earning a special interest rate of 1.40% on new deposits to this Account until March 31, 2022.”

Does this mean that the balance that existed prior to this message drops to .1% on January 31st and only “new deposits” receive 1.4%?

January 28, 2022
9:19 pm
Loonie
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I can't say for sure. I would hope it refers to new deposits since the offer began several months ago, and I think that is likely. Are there any T&C that you can find?
It depends on whether they view this as a new offer or an extension of the previous one. If the latter (my hunch), you're OK.

I don't have an account with them any more but spouse does.

January 28, 2022
9:21 pm
Norman1
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For the extension I received, it was an amendment of the previous offer. The end date of the "Offer Period" was changed:

2. The Offer is only available to Eligible Clients between September 7, 2021 and March 31, 2022 (the “Offer Period”). If the Offer is not Activated between September 7, 2021 and September 30, 2021, Tangerine Clients will not be eligible for the Offer and will not receive Promotional Interest.

The date in the definition of "Eligible Deposits" was not:

5. “Promotional Interest” is the interest earned on Eligible Deposits made to Applicable Accounts each day during the Offer Period. “Eligible Deposits” for any day during the Offer Period is the excess of (i) the sum of end-of-day balances in all Applicable Accounts per Applicable Account Type (excluding Promotional Interest) over (ii) the sum of end-of-day balances in all Applicable Accounts per Applicable Account Type as at September 6, 2021, to a maximum of $1,000,000†, subject to the exclusions in Section 10 below.

January 28, 2022
9:28 pm
Norman1
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If one has the offer, one can look at the offer's fine print in the usual place under "Bonuses & Contests".

February 4, 2022
11:22 am
hwyc
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I heard rumor that February targeted offer (2%) is out.
I checked but got nothing. Please start a new thread if anyone has the details.

Thanks in advance

February 4, 2022
11:31 am
cgouimet
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I'm on a TNG 2% offer now (Dec 1 to Apr 30).

Just keep checking your email and Insights to see if you're in their aim ...

I get 1-2 offers per year. But they're not always good enough to justify shuffling $ around ...

CGO
February 4, 2022
1:38 pm
bpwest
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hwyc said
I heard rumor that February targeted offer (2%) is out.
I checked but got nothing. Please start a new thread if anyone has the details.

Thanks in advance  

I received 2% new money offer, Feb 4 - June 30

(if someone else starts a separate thread, I will contribute there)

February 4, 2022
3:26 pm
Norman1
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January 1, 2023
9:28 am
hwyc
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... This is a very old thread. Yes sf-confused

There are currently discussions on end-of-year transaction dates. Then I realized regular interest is paid last day of month it is earned. However, Tangerine choose to date promo interests on the first day of the following month.

As a result, the regular interest earned in December 2021 was reported on 2021 T5 but the promo portion is yet to be reported on 2022 T5.

... I didn't do the math, I only read the dates.

January 2, 2023
4:01 am
RetirEd
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Yeah, it's a sleazy trick to avoid paying one month's earnings on the promo interest.
RetirEd

RetirEd

January 2, 2023
8:19 am
Norman1
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There's no avoidance.

Regular interest is paid on the last day after the closing time for the day and doesn't earn interest until the next day. Bonus interest is paid the next day before closing time of that day and starts earning interest the same day as well.

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