Tangerine new deposit offer: 1.50% between April 8 and August 31, 2021 | Page 2 | Tangerine Bank | Discussion forum

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Tangerine new deposit offer: 1.50% between April 8 and August 31, 2021
April 21, 2021
8:54 pm
Sonz
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I had GICs come due early April and asked about the promotion. I was told it was only new money. They offered me instead 1.1% in their high interest savings for 5 months (1% bonus on the 0.1% savings) At first they wouldn’t offer to my spouse but I escalated to the manager and got the 1.1% for both of us. I’m looking for other options to park these savings including a few ontario based credit unions. Also pulled out all my money from Scotiabank as they only offered .79%. Moved it to Talka in Hamilton at 1.5% (sorry - only for ON residents).

April 22, 2021
5:55 am
dougjp
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I guess 'time is money' doesn't apply these days, but aggravation does. I don't understand why Tang feels they have to, IMO, play carnival barker slight of hand games to short change customers, and waste their time too - probably over an hour each including on hold, transfer to supervisor etc. I suppose they think its good for their margins, but when people pull all their money out, how does that pay off for them?

I don't understand why anyone would go through the aggravation of dealing with them when there are better rates easily available at multiple places that are covered by CDIC.

The main accomplishment of almost all organized protests is to
annoy people who are not in them.

April 22, 2021
7:29 am
HermanH
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I agree about the waste of time involved by everyone with such Mickey Mouse gimmicks.

I may be old fashioned, but I try to be loyal. My expression of loyalty is to give my business to family, friends, and then current commercial contacts, first. If they cannot match market rates/prices, then I go outside my circle of contacts.

In business, I expect (hope) the same in return. I consider it an extension of simple courtesy. So, I try to give my established relationships the benefit of the doubt by allowing them to match competitor offers before I leave.

Some may be offended, but some appreciate the effort was at least made (instead of just disappearing into the ether.) I try not to have or leave hard behind feelings. It's just business.

April 22, 2021
8:46 am
Ed
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Got an unsolicited call from a CSR at Tangerine in the Retention Dept. who offered me a high rate if I agreed to answer some security questions. I told him that I didn’t know who he was and asked him what the rate was. He said 1.35% was the highest rate that they were offering, but that it depended on a customer’s personal situation and that the offer was good till the end of the month. I asked him to send me an email or post a notification on my website account and he said that I could call the Tangerine number and that there would be a note there regarding the offer. I told him that I was getting a better rate at EQ. He said that it was only 1.25% and I replied that the GIC rate was 1.5% and that CT’s rate was 1.5%.
Has anyone else been solicited over the phone with the promise of a high rate?

April 22, 2021
11:19 am
DevPatel
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Never heard of Tangerine calling to solicit.
Looks like times are changing.

I am also tired of calling them and long wait times and after that being given some b*&^%$#t to not extend the promotion. So I have stopped calling them, I quietly move my money out when the offer expires and be done with them.

If everyone starts to do that, may be they will stop discriminating and outright lying that so and so is the max we can give you or there are no promos for you.

April 22, 2021
11:31 am
topgun
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I will move ALL my money in Tangerine savings before my promo expires. My problem is I had a high balance so the bonus interest is very small. If many clients did this, I think they would raise rates to a competitive rate.

Have a Great Day

April 22, 2021
1:48 pm
Jim Sherat
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I didn't find a separate thread for the 2.1 % for 5 mts at Tangerine, so I'm posting this here:
https://www.tangerine.ca/en/landing-page/earnmore

It seems its open to anyone who hasn't had a previous account with them, which my wife and I have not. Most of what I've read on the forum re Tang, is the good rates are by Invitation to existing clients, yes ?

Having just begun dealing with EQ, with joint HISA and TFSAs, is it worth pivoting to Tang for the diff in EQ, 1.25% [1.5% 3mth GIC] vs Tang's 2.1%, for the 5 mths ?? Wondering what the likelihood is that we'd get a continuing offer good enough to retain us, without begging, which doesn't work anyway.

I guess I'm just looking for comments, pro and con, from folks who've dealt with Tang for some period of time. Thanks

April 22, 2021
1:54 pm
rhvic
Victoria, BC
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Jim Sherat said
I didn't find a separate thread for the 2.1 % for 5 mts at Tangerine, so I'm posting this here:
https://www.tangerine.ca/en/landing-page/earnmore

It seems its open to anyone who hasn't had a previous account with them, which my wife and I have not. Most of what I've read on the forum re Tang, is the good rates are by Invitation to existing clients, yes ?

Having just begun dealing with EQ, with joint HISA and TFSAs, is it worth pivoting to Tang for the diff in EQ, 1.25% [1.5% 3mth GIC] vs Tang's 2.1%, for the 5 mths ?? Wondering what the likelihood is that we'd get a continuing offer good enough to retain us, without begging, which doesn't work anyway.

I guess I'm just looking for comments, pro and con, from folks who've dealt with Tang for some period of time. Thanks  

I have been with Tang (and ING before them) for a couple of decades. That said, that is not enough for them to give me continuous promo offers. I am lucky if I get one per year, for maybe a three or four month promo rate. The rest of the year, with no promos coming to me, my money moves elsewhere.

April 22, 2021
2:13 pm
Winnie
Ontario
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Jim Sherat said
Wondering what the likelihood is that we'd get a continuing offer good enough to retain us, without begging, which doesn't work anyway.

I guess I'm just looking for comments, pro and con, from folks who've dealt with Tang for some period of time. Thanks  

I have been with Tangerine and ING from the start.
A few years ago I stopped to play Tangerine games, not accepting Tangerine promos.
Tangerine sending to me about 1/2 of all available promos mentioned here, sometimes even 2-3 promos in the row.
For example, I got 2 last offers including this one, but I proudly pressed "Dismiss" button.

April 23, 2021
3:24 am
Jim Sherat
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thanks for the responses .... I'm still pondering whether to go through all the hassles of setting up one more FI, the accounts, external links, etc..
With interest rates as low as they are, unless one is willing to put all, or most of your cash into these promos, and exceed CDIC limits, it's hardly worth the bother.

April 23, 2021
11:34 am
HermanH
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Everyone has their own level of tolerance, but I think it is worthwhile for the 2.1% at Tang. To me, it only happened to me twice and I would gladly do it again for such a rate differential.

You are right that sometimes CDIC limits must be temporarily breached but afterwards, there are plenty of similar accounts to which you can re-distribute funds. For example, Neo, CTire, Bridgewater, and Wealth1 are all giving about the same 1.45-1.55 rate at the same time. So, that is $400K (or $800K if you have a joint participant.) You can also drop some at Achieva CU for 1.55% GIC 12-mo. To me, that seems like plenty of coverage.

May 11, 2021
12:47 am
RicksBank
Alberta
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I've gotten every promo since July, 2015.

Last fall the offer didn't come right away. I had to let the money sit in my Tangerine chequing account for a month and then I got the offer from Nov 4 until March 31.

Now it's been over a month and no offer.

I've never had to phone them to beg, and I'm not going to bother. I just moved my money to EQ for now. I don't have a Cdn Tire or Neo account, and EQ was already set up to pull from Tangerine.

Until the last year or two, I used to move my money to another bank while I waited for a new offer. A year or two ago it became known (others here probably knew all along) that one could just move it to their Tangerine chequing account, so I've done that. I wonder if they check for this behaviour now and that's why I wasn't given an offer?

May 11, 2021
3:40 am
Loonie
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It's the age-old mystery as to what makes Tang's algorithms tick. However, it's my impression and experience that after a few years they just get tired of us because they have not been able to induce us to expand our business with them any further. They'd rather try with a newer customer.
I can't say this makes a lot of sense to me, but it's all I can make out of it. I think their goal is for us to make them our primary bank, complete with active credit card, PADs, TFSA, GICs, maybe mutual funds, and, importantly, growing deposits.
If you've had five consistent years of offers from them, I think you've done very well, but the party is probably over for at least the foreseeable future.

May 11, 2021
6:15 am
Alexandre
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RicksBank said
Until the last year or two, I used to move my money to another bank while I waited for a new offer. A year or two ago it became known (others here probably knew all along) that one could just move it to their Tangerine chequing account, so I've done that. I wonder if they check for this behaviour now and that's why I wasn't given an offer?  

I moved everything from Tangerine Savings to another bank two weeks before end of previous offer I had, and haven't got new offer either.

May 11, 2021
6:47 am
topgun
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My current offer of 1.75% at Tangerine runs from Feb 9th - June 30th. I plan on moving the funds to another bank before June 30th. Maybe the offers are down to a maximum of 2 per year.

Have a Great Day

May 11, 2021
2:13 pm
rhvic
Victoria, BC
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topgun said
My current offer of 1.75% at Tangerine runs from Feb 9th - June 30th. I plan on moving the funds to another bank before June 30th. Maybe the offers are down to a maximum of 2 per year.  

Two per year? I am lucky to get one per year, and I've been a Tang (and ING) customer for two decades.

May 11, 2021
4:24 pm
Dean
Valhalla Mountains, British Columbia
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.
I have a very simple arrangement with Tangerine . . .

      If they don't give me special offers, they don't get my money.

So far, it's worked out just fine. sf-laugh

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

May 11, 2021
6:07 pm
topgun
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Some customers were clients before special offers became common. Tough to change sometimes.

Have a Great Day

August 31, 2021
11:03 pm
picassocat
Québec
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My 1,5% offer just ended now September 1st and at 00h01 all my money was gone to Alterna. Tangerine will be back with an offer within one to two months. I play their game.

September 1, 2021
7:18 am
malquin
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My last offer expired March 31st.
Like you, all my money was moved out before the end of the month.
I did not call them to inquire about a new offer.
I log on Tangerine website every week and nothing was offered since.

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