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Tangerine 4.30% targeted new deposit offer, Oct4 to Dec31
October 5, 2022
5:40 am
hwyc
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Look under Insight
Activate by October 16, 2022!!
New money earn 4.30% sf-smile between Oct 04 to Dec 31, 2022

... only 3 months !!! That's the shortest Tangerine offer eversf-confused

October 5, 2022
5:54 am
Bruford
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Eggselent, especially the $US

October 5, 2022
6:34 am
Norman1
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Summary of the terms and conditions:

* The Tangerine Savings Interest Offer of 4.30% (the “Offer”) is only available to existing Tangerine Clients who have received this communication directly from Tangerine and who activate the Offer online by October 16, 2022. The 4.30% promotional interest rate (the “Promotional Interest Rate”) is only available on Eligible Deposits made between October 4, 2022 and December 31, 2022 of up to $1,000,000 per Applicable Account Type (in the currency of the Applicable Account). However, deposits made to registered Applicable Accounts through a T2033 form will not begin to earn the Promotional Interest Rate until the funds are actually received by Tangerine, and will earn interest at the applicable Posted Rate before then. The Promotional Interest Rate is an annualized rate, calculated daily and paid monthly. This Offer can’t be combined with any other offers. This Offer, including interest rates, may change, be extended or cancelled without notice.

The applicable accounts:

The Offer is only applicable to Tangerine Savings Accounts (“Savings”), Tangerine Tax-Free Savings Accounts (“TFSA Savings”), Tangerine RSP Savings Accounts (“RSP Savings”), and Tangerine US$ Savings Accounts (“US$ Savings) (referred to collectively as “Applicable Accounts”) where the Eligible Client is the Primary Account Holder as described in Section 13 below. Multiple Applicable Accounts of the same type (for example, three separate TFSA Savings Accounts) are collectively defined as an “Applicable Account Type”. The Offer is not applicable to any other Accounts, including (but not limited to) Tangerine RIF Savings Accounts (“RIF Savings”), Tangerine Business Savings Accounts, Tangerine US$ Business Savings Accounts, or Tangerine Children’s Savings Accounts (“CSA”).

October 5, 2022
9:26 am
dougjp
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I have a GIC with them that comes due during this period. Technically it seems, that if I don't renew the GIC and instead leave the proceeds in the HISA, this would be "new money" to the specified range of applicable accounts. But it's not "new money" to Tang.

I'd hate to find out a month after that I'm not getting the 4.3%.

The badness of a movie is directly proportional to the number of
helicopters in it.

October 5, 2022
9:49 am
hwyc
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dougjp said
I have a GIC with them that comes due during this period. Technically it seems, that if I don't renew the GIC and instead leave the proceeds in the HISA, this would be "new money" to the specified range of applicable accounts. But it's not "new money" to Tang.

I'd hate to find out a month after that I'm not getting the 4.3%.  

It depends on what it is. If non-registered, it depends on what you do. Read T&C 9a & 10b.

October 5, 2022
12:59 pm
dougjp
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hwyc said

It depends on what it is. If non-registered, it depends on what you do. Read T&C 9a & 10b.  

Thanks for that. I hadn't noticed to move the slider to page 2.

So my summary is - 10b is pretty clear, funds from a maturing GIC don't apply. My options are therefore to renew the GIC or withdraw the funds and invest elsewhere. Because if the deposit from those funds doesn't count, then the withdrawal of all those funds can't count against me. I hope. sf-confused

The badness of a movie is directly proportional to the number of
helicopters in it.

October 5, 2022
1:24 pm
HermanH
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It will count against you. If you remove your GIC balance at maturity and bring in additional funds to take advantage of the promotion, only the funds over and above the value of your GIC will be eligible for the promotional rate.

October 5, 2022
4:28 pm
BK
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hwyc said
Look under Insight
Activate by October 16, 2022!!
New money earn 4.30% sf-smile between Oct 04 to Dec 31, 2022

... only 3 months !!! That's the shortest Tangerine offer eversf-confused  

I'm glad I didn't accept their 3.5% offer last month, because if you are already on a promotion I wouldn't have gotten this one which I now did receive as well. I may activate it, but there is no rush because I'm still on the Simplii rate of 4.75% until Oct. 31st.

October 5, 2022
6:52 pm
Bruford
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That damn $1,000,000 limit just sticks in my craw.

October 5, 2022
6:58 pm
hwyc
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@dougjp There are 3 kinds of people ... Which kind do you think I am? sf-smile Nowhere did you clarify it's registered or non-registered yet.

10b. Money transferred from a Bank GIC, Investment Fund or Line of Credit to an Applicable Account.

10b is pretty clear. Tangerine Chequing Account is not an Applicable Account type. I would mature the Tangerine GIC into Tangerine Chequing Account, then transferred the funds from a Tangerine Chequing Account to an Applicable Account.

Disclaimer - I am not you. You are not me.

October 6, 2022
4:10 am
dougjp
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hwyc said
@dougjp There are 3 kinds of people ... Which kind do you think I am? sf-smile Nowhere did you clarify it's registered or non-registered yet.

10b. Money transferred from a Bank GIC, Investment Fund or Line of Credit to an Applicable Account.

10b is pretty clear. Tangerine Chequing Account is not an Applicable Account type. I would mature the Tangerine GIC into Tangerine Chequing Account, then transferred the funds from a Tangerine Chequing Account to an Applicable Account.

Disclaimer - I am not you. You are not me.  

sf-cool That's meant as a joke signature (below that line), and therefore not part of my reply. I change them from time to time, for something to do. sf-wink

Mine are non-registered funds by the way. Good thought about using a chequing account with them to move funds out (I don't have one of those accounts with Tang), however it seems to me the T&C is misleading.

That's because in a phone call they said how they determine new funds is they add up ALL moneys in all accounts, by category (non-reg, reg) INCLUDING GICs, chequing and savings, and those totals are the existing funds! So maturing GIC funds can't earn the bonus rate in HISA, and can't be moved out of Tang in any manner because that would subtract from any new funds deposited and only the remainder would earn the bonus. I said the T&C was misleading and must be changed. They declined.

The badness of a movie is directly proportional to the number of
helicopters in it.

October 6, 2022
5:02 am
savemoresaveoften
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dougjp said

sf-cool That's meant as a joke signature (below that line), and therefore not part of my reply. I change them from time to time, for something to do. sf-wink

Mine are non-registered funds by the way. Good thought about using a chequing account with them to move funds out (I don't have one of those accounts with Tang), however it seems to me the T&C is misleading.

That's because in a phone call they said how they determine new funds is they add up ALL moneys in all accounts, by category (non-reg, reg) INCLUDING GICs, chequing and savings, and those totals are the existing funds! So maturing GIC funds can't earn the bonus rate in HISA, and can't be moved out of Tang in any manner because that would subtract from any new funds deposited and only the remainder would earn the bonus. I said the T&C was misleading and must be changed. They declined.  

Any existing maturing GIC has to stay in the account and earn the LOW rate without the bonus. That sucks !

Will think twice next time before putting money in their GIC for sure

October 6, 2022
6:28 am
frencols
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If one moves eligible funds between eligible accounts during this promo period, doing so won't negatively affect anything right?

Eg
Oct 10: Move $10 to Savings A/C #1
Nov 10: Move $5 from Savings A/C #1 to Savings A/C #2

Thanks.

October 6, 2022
6:30 am
dougjp
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savemoresaveoften said

Any existing maturing GIC has to stay in the account and earn the LOW rate without the bonus. That sucks !

Will think twice next time before putting money in their GIC for sure  

Actually the one remaining option is, the expiring GIC can be renewed, with them ONLY, hence the same 'existing funds' balance remains. A tricky way of 'locking in' PLUS getting new funds via a short offer.

Unfortunately for them, I have a few more GICs expiring within 5 months and my memory will still be fresh by then about a most unsavory phone call and the most likely intentional 'wording' in the T&C. And obviously I'll be seeing how much daily can be withdrawn, online and/or by phoning in, at that time!

The badness of a movie is directly proportional to the number of
helicopters in it.

October 6, 2022
7:10 am
COIN
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Unfortunately, Tang is not the only institution that treats money from a maturing GIC as "old" money. I ran into the same problem with another institution a few months ago.

P.S. I like Tang because they pay the full interest every month but I hate the BNS ATM's (not very responsive). Also, Tnag shows the actual interest rate when one logs in (unlike Simplii for example).

October 6, 2022
8:57 am
JohnnyCash
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BK said

I'm glad I didn't accept their 3.5% offer last month, because if you are already on a promotion I wouldn't have gotten this one which I now did receive as well. I may activate it, but there is no rush because I'm still on the Simplii rate of 4.75% until Oct. 31st.  

I'm still waiting for another offer after ignoring the one from May for 7 months at 2.2%. I will admit calling them to see if they could remove the offer from my profile to perhaps trigger another, no such luck, guess I've been blacklisted. I'll see what happens in December. Currently have Meridian at 3.95% till mid January, Simplii at 4.75% and 1st Choice Credit Union at 5.45%, last two expiring this month. Will just have to take Manulife up on their 5 month 3.75% offer and hope they up the rate after this months BoC announcement as they did last month.

October 6, 2022
3:46 pm
smayer97
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dougjp said

sf-cool ...
... in a phone call they said how they determine new funds is they add up ALL moneys in all accounts, by category (non-reg, reg) INCLUDING GICs, chequing and savings, and those totals are the existing funds! So maturing GIC funds can't earn the bonus rate in HISA, and can't be moved out of Tang in any manner because that would subtract from any new funds deposited and only the remainder would earn the bonus. I said the T&C was misleading and must be changed. They declined.  

That is not entirely true. It depends on the promo. There have been promos where funds could be moved out of a HISA into a chequing account prior to a new promo and the funds moved back inot a HISA promo from the chequing account WOULD qualify. So, it all depends on the fine print.

I agree though that the fine print T&C's often are tricky to discern.

October 6, 2022
5:21 pm
Norman1
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The 4.3% Tangerine offer doesn't mention combined balances that include ineligible accounts.

I suspect the agent is confusing the Tangerine offer with one of those offers for the Scotiabank MomentumPLUS Savings Accounts. Those MomentumPLUS account offers have had such combined balance conditions.

October 9, 2022
9:07 pm
COIN
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Does anyone know if the BNS ATM's still have a $99,999 limit on deposits (or any limit)?

October 11, 2022
1:28 pm
COIN
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COIN said
Does anyone know if the BNS ATM's still have a $99,999 limit on deposits (or any limit)?  

P.S. Spoke to a BNS CSR to-day was advised that the maximum deposit at their ATM is $99,999.

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