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Tangerine Bank Targeted promo
May 7, 2022
2:17 pm
implode
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I had the 2.2% offer, but have yet to accept it. Instead, I had pulled out my funds to other banks. No new offer to replace the existing not accepted 2.2% offering.

May 7, 2022
2:43 pm
JohnnyCash
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implode said
I had the 2.2% offer, but have yet to accept it. Instead, I had pulled out my funds to other banks. No new offer to replace the existing not accepted 2.2% offering.  

You will need to wait until the last day to accept before it drops off, then with some luck, be targeted for the next lottery. I'm very much in the same boat as I will not accept 2.2% for six months.

May 7, 2022
2:47 pm
rhvic
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At least this 2.6% offer also includes US$ accounts, which the 2.8% offer which I got a while back did not. As a result my US$ are temporarily parked at EQ.

May 7, 2022
4:32 pm
Nav66
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@rhvic The 2.8% offer DOES apply to US $ accounts. Look for this "Your special rate is active! Nice! You're earning a special interest rate of 2.80% on new deposits to this Account until July 31, 2022." in 'Account Details'

May 7, 2022
4:56 pm
JohnnyCash
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Nav66 said
@rhvic The 2.8% offer DOES apply to US $ accounts. Look for this "Your special rate is active! Nice! You're earning a special interest rate of 2.80% on new deposits to this Account until July 31, 2022." in 'Account Details'  

There was more than one recent 2.8% offer, one included USD, the other did not. So far in the last couple of months they've run offers ranging from 2.20%, 2.25%, 2.40%, 2.60% and 2.80%.

May 7, 2022
6:35 pm
Norman1
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The 2.8% April Savings Offer 2022 I received specifically excludes US$ Savings Accounts:

3. For the purposes of this Offer, “Applicable Accounts” only include Tangerine Savings Accounts and don’t include any other Tangerine Accounts such as (but not limited to) Tax-Free Savings Accounts (“TFSA Savings”), RSP Savings Accounts (“RSP Savings”), RIF Savings Accounts, US$ Savings Accounts, Business Savings Accounts, US$ Business Savings Accounts, or Children’s Savings Accounts.

May 7, 2022
9:29 pm
Vatox
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COIN said

JohnnyCash said

To date, I would say at least 5.  

Anyone targeted for 2 or more of these 5?  

I was on the 2.0% and now the 2.2%. I have no other better offers for savings accounts, so I’ll take it. If something better comes along, bye bye Tang. I have no loyalty to Tang and no respect for them either. 0.1% regular rate doesn’t deserve respect or loyalty.

May 8, 2022
7:16 am
RetirEd
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cgouimet: You say they don't adjust interest rates up or down, but I remember one counterexample.

One of the very first offers I got from them (after calling in) described the offer as a two-parter; a standard rate and a bonus slice. When rates went up, they cut the bonus rate to keep the total constant. When rates went down, they did NOT increase the bonus. It was a one-way ratchet.

That was several years ago... anyone remember more details about this?
RetirEd

May 8, 2022
8:57 am
cgouimet
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RetirEd said
cgouimet: You say they don't adjust interest rates up or down, but I remember one counterexample.

One of the very first offers I got from them (after calling in) described the offer as a two-parter; a standard rate and a bonus slice. When rates went up, they cut the bonus rate to keep the total constant. When rates went down, they did NOT increase the bonus. It was a one-way ratchet.

That was several years ago... anyone remember more details about this?
RetirEd  

All of the TNG HISA offers I have seen were 'two-parters', in that while advertised as say 2.8%, they are really made up with the TNG HISA interest rate (e.g. today's super highly competitive 0.1%) plus a bonus interest (e.g. 2.7% in the case of the 2.8% offer). And the interest and bonus interest are paid separately, the first very late on the last day of the month, the later very early the following day.

As for past offers where the base rate changed (up or down) while the offer was active, I have never heard or experienced one of those ...

CGO
May 8, 2022
10:18 am
COIN
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"As for past offers where the base rate changed (up or down) while the offer was active, I have never heard or experienced one of those .."

Maybe not Tang, but I vaguely remember Manulife and/or HSBC.

May 8, 2022
10:50 am
JohnnyCash
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COIN said
"As for past offers where the base rate changed (up or down) while the offer was active, I have never heard or experienced one of those .."

Maybe not Tang, but I vaguely remember Manulife and/or HSBC.  

Personal experience with HSBC, base rate went up and so did the total interest paid. Manulife on the other hand, base rate dropped which lowered the combined total interest paid. In other words, the bonus interest stays the same.

Tangerine seems to keep the total interest rate payable consistent throughout the promotional period, irrespective of the base rate moving up, or down. I believe Simplii does the same.

May 8, 2022
11:26 am
cgouimet
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The key seems to be the offer itself ...

A Total Interest rate offer from TNG, which is what we've been talking about and what I've seen from TNG vs a Bonus Interest rate offer which some have seen from HSBC and ManuLife.

The devilish details ...

CGO
May 8, 2022
12:32 pm
COIN
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HELP!

I signed up for the 2.80% offer with Tang. Does this mean I get 2.80% come "heck or high water"?

May 8, 2022
12:44 pm
cgouimet
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COIN said
HELP!

I signed up for the 2.80% offer with Tang. Does this mean I get 2.80% come "heck or high water"?  

Read your offer ... Does it say 2.8 or base +2.7?

CGO
May 8, 2022
12:57 pm
cgouimet
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cgouimet said

Read your offer ... Does it say 2.8 or base +2.7?  

Or go to TNG, in the 2.8 account select account details

CGO
May 8, 2022
1:38 pm
suburbs4life
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Just some more info for those that may be interested in the Tang games.

I got the 2% promo then it expired and got the 2.2% new “promo”. I had moved my money out except 1$ prior the 2.2% promo starting this month. I have not accepted it nor plan to. I called the regular CSR on Friday and they offered me 2.25% and they wouldn’t budge any higher. In the past I tend to call and ask for the known best offers out at the time and they usually give me something decent but not always. They claimed they would not give me a higher rate unless I had more money in the account-I had a dollar but when I offered to deposit 75k they refused any higher than 2.25% so I declined and went to simplii.

Are the people getting the 2.8% offers holding low-mid 6 figures in the account? The rep made it seem they would not be interested unless i were to deposit that type of money. Which I obviously declined.

May 8, 2022
2:15 pm
JohnnyCash
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suburbs4life said
Just some more info for those that may be interested in the Tang games.

I got the 2% promo then it expired and got the 2.2% new “promo”. I had moved my money out except 1$ prior the 2.2% promo starting this month. I have not accepted it nor plan to. I called the regular CSR on Friday and they offered me 2.25% and they wouldn’t budge any higher. In the past I tend to call and ask for the known best offers out at the time and they usually give me something decent but not always. They claimed they would not give me a higher rate unless I had more money in the account-I had a dollar but when I offered to deposit 75k they refused any higher than 2.25% so I declined and went to simplii.

Are the people getting the 2.8% offers holding low-mid 6 figures in the account? The rep made it seem they would not be interested unless i were to deposit that type of money. Which I obviously declined.  

You left more in your account that I with 3 cents. Tried calling in yesterday to see if they could do better than the 2.2%, nope. I have no intention of accepting the offer, which is a first. It's too long and too low.

In respect to those getting targeted for the 2.8% offer, there is no rhyme, or reason to it other than it's a lottery. You could have a $1 in your account and receive the offer, while the next person with 5, or 6 figures gets passed over. Of course, if you have 5 figures, or more already on deposit, they may be willing to deal if you call to transfer out on an expired promo.

May 8, 2022
6:16 pm
Loonie
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I think they do try to bid you up over time. They told me once that I had to put in 250K to get the good offer. I pointed out that this is unreasonable as it's beyond insured limits and they are NOT BNS. The CSR seemed slightly embarrassed but it didn't make any difference in the end.
I never got any more offers. That was about 3 years ago.

May 8, 2022
6:54 pm
COIN
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Loonie said
I never got any more offers. That was about 3 years ago.  

As they say in my business, you have been "red flagged".

May 9, 2022
7:15 pm
suburbs4life
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Thanks all. I don't want to be red flagged

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