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Strategic thinking at Tangerine
July 30, 2016
10:23 pm
Loonie
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https://ca.finance.yahoo.com/news/canadas-tangerine-bank-targets-million-customers-160002850--sector.html
It says they expect a million new customers over the next few years in addition to the current 2 million.
They especially want you to open a chequing account apparently, as that is seen as the key to getting hold of more of your business. They are also pushing the credit card.
And they have their eyes set on wealth management, where they figure they can replace the advisors at the other banks. Perhaps they could start with offering decent rates on their RSPs - then we might consider believing them!

So, perhaps, if you want to get a better savings rate from them, you might consider opening a chequing account if you don't already have one there. Its very existence seems to excite them to no end! Just a thought...

July 31, 2016
6:10 am
xxxx
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Sounds very progressive. I hope Tangerine eventually issues an IPO of common shares - I would really like to buy their shares as I think Tangerine being already quite profitable is certainly on track to be even more so in future as it grows its base. At present, Tangerine is 100% owned by Scotia Bank so Scotia gets all profits.

July 31, 2016
11:22 am
Rick
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Loonie said
So, perhaps, if you want to get a better savings rate from them, you might consider opening a chequing account if you don't already have one there. Its very existence seems to excite them to no end! Just a thought...

Opened a chequing account in June. My reward was I didn't get a promo rate for my savings account when the old one expired on June 30.

July 31, 2016
11:42 am
Loonie
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Well, so much for that theory!
I guess they just want NAIVE chequing account customers!sf-frown

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