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Tangerine - January 2020 Offer
February 2, 2020
2:28 pm
ReX
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Loonie said
[...]
However, if you're satisfied with 2.5% or less and a whopping $125 transfer fee on registered funds, then go for it!  

Transfer fee for registered funds was $45 last year. They increased it to $50 this year...pay and you will still be ahead by investing somewhere else.

February 2, 2020
4:27 pm
2of3aintbad
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moneyhelp said

I agree, but I will say the one thing Tangerine does have better than even the large 5 banks is the UI in their online banking and mobile apps. Far superior with respect to aesthetics and intuitiveness. I say that with a large respect, because I work in IT and I always look at that; and although I would agree that's the least important aspect compared to rates, features, options, etc., but I do believe that is a VERY important part of it...you can see they have invested largely in tech, I just wish they would invest in customer's loyalty with better sustainable rates...just needed to add that.  

To each his own. Don't use the mobile app but when I sign in to online banking, why do I need to see 'Insights' taking up most of the screen? Why do I need to scroll down through a bunch of stuff to see details and balances?

At RBC, I can see, without scrolling, the balances of 3 accounts and my credit card and also 'Quick Payments & Transfers' on the right. At BMO, I can see the balances of 12 accounts. The balance of an account is almost always the first thing I am interested in.

February 2, 2020
4:34 pm
dougjp
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I agree. I find Tangerine's site design inefficient and annoying. All about colours, "lifestyle" pictures, more clicks than necessary and BIG letters/numbers. Kind of a navel gazing organization, to me.

And their scatterbrained off and on promotional rate offering system is just a turn off, the longer anyone gets experience with them.

February 2, 2020
8:26 pm
Loonie
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ReX said

Transfer fee for registered funds was $45 last year. They increased it to $50 this year...pay and you will still be ahead by investing somewhere else.  

I was quoting someone's post on another thread which has since been corrected in regards to the transfer fee.

I think they should all get rid of their transfer fees and make it an even playing field.

February 4, 2020
3:27 pm
moneyhelp
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2of3aintbad said

To each his own. Don't use the mobile app but when I sign in to online banking, why do I need to see 'Insights' taking up most of the screen? Why do I need to scroll down through a bunch of stuff to see details and balances?

At RBC, I can see, without scrolling, the balances of 3 accounts and my credit card and also 'Quick Payments & Transfers' on the right. At BMO, I can see the balances of 12 accounts. The balance of an account is almost always the first thing I am interested in.  

Yea, I would agree, the insights to get annoying at times, but taking up most the screen? I'd say its more like a quarter of the screen, remember, a true screen aspect ratio is if you scroll the page in its entirety, not what is showing on your screen (ie. 13" monitor vs a 24").

But I would disagree with dougjp being that it is inefficient. Yes, there are a few more clicks than necessary, but you can find what you're looking for, which is most important because at the end of the day they still are a business and need to advertise their products to the consumer, so we take fluff and look at the rest. If things were missing in its entirety than yes, but I don't believe so.

February 4, 2020
4:03 pm
dougjp
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moneyhelp said

Yea, I would agree, the insights to get annoying at times, but taking up most the screen? I'd say its more like a quarter of the screen, remember, a true screen aspect ratio is if you scroll the page in its entirety, not what is showing on your screen (ie. 13" monitor vs a 24").

But I would disagree with dougjp being that it is inefficient. Yes, there are a few more clicks than necessary, but you can find what you're looking for, which is most important because at the end of the day they still are a business and need to advertise their products to the consumer, so we take fluff and look at the rest. If things were missing in its entirety than yes, but I don't believe so.  

Well I actually agree with the gist of what you are saying, and yes its ultimately possible to find what you are looking for.

However your comment " Far superior with respect to aesthetics and intuitiveness " is exactly what has set everybody off with the negative comments about them. It got people in here venting, saying YES i understand that's their problem in reverse!

You see, from a customer standpoint as opposed to your IT/Marketing view, their advertising fluff, phony lifestyle photos etc. are actually what is sending people away from them. Customers are attracted by what they actually want, as opposed to what they are forced to put up with.

RBC, BMO and many more "get it" and deliver with don't insult my intelligence type web sites. Unfortunately what they don't get is people are also interested in getting competitive rates!

February 4, 2020
5:16 pm
moneyhelp
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dougjp said

Well I actually agree with the gist of what you are saying, and yes its ultimately possible to find what you are looking for.

However your comment " Far superior with respect to aesthetics and intuitiveness " is exactly what has set everybody off with the negative comments about them. It got people in here venting, saying YES i understand that's their problem in reverse!

You see, from a customer standpoint as opposed to your IT/Marketing view, their advertising fluff, phony lifestyle photos etc. are actually what is sending people away from them. Customers are attracted by what they actually want, as opposed to what they are forced to put up with.

RBC, BMO and many more "get it" and deliver with don't insult my intelligence type web sites. Unfortunately what they don't get is people are also interested in getting competitive rates!  

I agree with the last statement, as I mentioned that in mine as well, however, I still do think that the UI is better than RBC and TD (can't speak about the rest) as I have accounts with those other banks; and yes, they don't have the fluff advertisements, but their UI is definitely not as intuitive, at least not RBC. In fact, RBC "insults" their customers by applying "lipstick" at the beginning part of their online banking, and once you go into the details, it reverts back to their previous (over 10 years look). Again, this is the least important part, I agree and again as I've mentioned before, but from an IT background, efficiency to me is important.

That said, yes, I agree, they do advertise and definitely more than RBC (maybe even TD) but even more so I agree with you that I wish they would maintain (sustain) better rates.

February 6, 2020
7:53 am
Winnie
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I also received the 2.75% on new monies offer till June 30.
Savings, TFSA, RRSP and US accounts included.
No minimum balance requirement.

February 6, 2020
10:46 am
Yatti420
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No offer for me for Feb.. Mine expired end of Jan.. I moved whatever was there to EQ for a bit..

February 6, 2020
12:19 pm
Alexandre
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Winnie said
I also received the 2.75% on new monies offer till June 30.
Savings, TFSA, RRSP and US accounts included.
No minimum balance requirement.  

Same here. Should it be "February 2020 offer?"

February 6, 2020
2:34 pm
Yatti420
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Alexandre said

Same here. Should it be "February 2020 offer?"  

It could have been offered starting in January which makes sense I didn't get a new offer.. I'm ok with moving it around for a bit..

February 7, 2020
10:38 am
Alexandra
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My offer with Tangerine is still at 2.3% for HISA so I moved all but $50 from my account to EQ bank until they offer me something better. I have never been offered the 2.75% despite the fact I have been a good customer with them since the beginning and before that ING direct. Also, can't stand the 1/2 hr to 3/4 hr wait when trying to get in touch by phone. They play that irritating music over and over again while waiting. Always, "we are getting a higher volume than usual" routine. Talk about turning great customers off!!

February 7, 2020
5:49 pm
Bill
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Alexandra, they have an option to leave a request for a callback, I used it yesterday and the machine called back within 20 minutes and then put me on hold for another 5 before a live agent came on.

February 9, 2020
1:26 pm
Winnie
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Alexandra said
... I have never been offered the 2.75% despite the fact I have been a good customer with them since the beginning and before that ING direct. ...  

Alexandra, as you probably know, Tangerine has no respect for good and loyal customers. I also was with ING from 1999. I didn't liked those Tangerine "promo games" from the beginning and a few years ago decided not to participate in those games. Also, I actively started complaining about not fairness of those "promo games" - called Tangerine many times (I have a lot of free time), wrote a few letters to Ombudsman and received a standard pointless reply (we doing whatever we want, you are free to close your accounts with Tangerine, if you don't like it).
I decided not to close my accounts and waiting until Tangerine will close them for me. But, instead, for the last few years, I received almost all "promo games", except 2 or 3. I'm still refusing to deposit my money to Tangerine - I have no respect for them at all and I prefer to earn sometimes a bit less in another friendly institution, like Hubert, for example.

February 9, 2020
2:09 pm
Alexandra
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Winnie said

Alexandra, as you probably know, Tangerine has no respect for good and loyal customers. I also was with ING from 1999. I didn't liked those Tangerine "promo games" from the beginning and a few years ago decided not to participate in those games. Also, I actively started complaining about not fairness of those "promo games" - called Tangerine many times (I have a lot of free time), wrote a few letters to Ombudsman and received a standard pointless reply (we doing whatever we want, you are free to close your accounts with Tangerine, if you don't like it).
I decided not to close my accounts and waiting until Tangerine will close them for me. But, instead, for the last few years, I received almost all "promo games", except 2 or 3. I'm still refusing to deposit my money to Tangerine - I have no respect for them at all and I prefer to earn sometimes a bit less in another friendly institution, like Hubert, for example.  

Thanks Winnie

I know what you mean about Tangerine, and I have just about had it with them as well. Yikes, I mean they are offering 2.2% on five yr GIC, and they don't bend. I have a small RRIF with CIBC still and it just came due. They offer on-line a 5yr GIC for 2.1%, but when I called my guy at the bank, he gave me 2.5%. Not great, but at least they usually will accommodate a good customer by doing the best they possibly can for them. i.e. if the customer asks them. Many of the "big 5" will give you more than their posted rate if you ask for an increase. sf-kiss

February 28, 2020
4:12 pm
rk
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My offer (2.75%) ended Jan. 31st. It is end of February now and I did not get a new offer from them - so far. This is a first in many years. Not complaining, just trying to understand their game. True, I did not use their last offer (as we had so much better choices from LBC, Duca, etc...). I agree with those who said that Tangerine is not what ING used to be (e.g. the best Canadian bank in this millennium), but we can still use them when/if the offer is good. We only have some GICs left there (all paying over 3%), but we are moving our funds out fast, as these GICs mature.

February 29, 2020
8:29 am
moneyhelp
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rk said
I agree with those who said that Tangerine is not what ING used to be (e.g. the best Canadian bank in this millennium), but we can still use them when/if the offer is good. We only have some GICs left there (all paying over 3%), but we are moving our funds out fast, as these GICs mature.  

I agree, that's the attitude I have towards Tangerine. I wasn't offered anything right after my last promo rate ended, so I moved my cash out to Achieva and about 2 months later, they offered me a new rate for another 5 months.

Where are you planning on diverting your Tangerine GICs when they mature?

February 29, 2020
9:40 am
Alexandra
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I have a lot of GIC's coming due this year (approx $500K). With this COVID-19 virus who knows what will happen. Even if it dies down in the Summer it could come back in a really bad way come the fall. So rates probably won't be going up anytime soon. I think as my GIC's come due I will put many in Oaken (Home Bank & Home Trust) for 5yr term payable yearly. But only have so much room in all the banks/CU's I deal with so I think I'll probably stick with HISA with Motive, Outlook and EQ until things improve. I have over the max in Peoples Bank & Trust right now but 3 GIC's coming due in April, so will probably re-invest with them if they come out with another good rate.

June 8, 2020
7:28 pm
picassocat
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I got the 2.5% interest till May 31st. The next day, my money was on its way to Alterna bank and that's where it stands. I will not beg Tangerine for a special offer, besides, Alterna is a much more functional bank.

With Tangerine if you e-transfer, I think 100$ or more, be ready to wait at least half an hour to get it.
If you send money via an EFT to another financial institution, be ready to wait 2 business days. Your money just sits there waiting to be transferred, but if you pay a bill, it leaves in no time, go figure.
Accounts are not updated when you pay a bill or send an EFT, it's only updated when the money physically leaves Tangerine.
A REAL BANK doesn't allow this to happen.

June 8, 2020
7:55 pm
cruzinalong
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picassocat said
I got the 2.5% interest till May 31st. The next day, my money was on its way to Alterna bank and that's where it stands. I will not beg Tangerine for a special offer, besides, Alterna is a much more functional bank.

With Tangerine if you e-transfer, I think 100$ or more, be ready to wait at least half an hour to get it.
If you send money via an EFT to another financial institution, be ready to wait 2 business days. Your money just sits there waiting to be transferred, but if you pay a bill, it leaves in no time, go figure.
Accounts are not updated when you pay a bill or send an EFT, it's only updated when the money physically leaves Tangerine.
A REAL BANK doesn't allow this to happen.  

When interest rates crashed last month I removed most of my money. Bonus or no bonus. I received no bonus interest for May. My income is deposited automatically to Tangerine. Money comes. Money goes. One friend says it seems to go faster than it comes. I like the Alert feature. Get an email when money is withdrawn/deposited.

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