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Tangerine question regarding "A great rate is coming your way" email
May 31, 2024
2:05 pm
AdrenalineTrade
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So last Friday I got an email from Tangerine saying that a great rate is coming my way of 5.25% and they will email me the details when I can activate the rate to earn 5.25% interest.

My current promo ends today on May 31, 2024.

What if they take a month to send me my "activation?". I just sit there with my money earning 0.70%?

Has anyone gotten this email and how long did you have to wait for the rate to kick in?

TIA

May 31, 2024
4:44 pm
The Rock
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I got that email on May 24 but the offer still hasn't been activated. Perhaps they're waiting until midnight. Why would they wait until the last minute?

Fortunately, I moved all my funds out on the 24th and into the RBC 5.5% HISA promo.

May 31, 2024
6:45 pm
MattS
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If it doesn’t apply to current funds and only new funds you might want to get the money out of there temporarily
I’m in the same boat my 5.75% ended today and no new offer yet

May 31, 2024
6:49 pm
Norman1
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Tangerine Bank will wait past the last minute, until a few business days after the original offer expires.

Previously, people started receiving invitations to activate on May 2 for the extension to an offer that was to expire April 30.

May 31, 2024
6:51 pm
HermanH
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MattS said
If it doesn’t apply to current funds and only new funds you might want to get the money out of there temporarily
I’m in the same boat my 5.75% ended today and no new offer yet  

And, if you can't move the money all the way out of Tang fast enough, moving it over to a chequing account 'may' be sufficient to qualify the funds as new money, when they return. Check the actual terms and conditions.

May 31, 2024
6:53 pm
PassiveandWary
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AdrenalineTrade said
So last Friday I got an email from Tangerine saying that a great rate is coming my way of 5.25% and they will email me the details when I can activate the rate to earn 5.25% interest.

My current promo ends today on May 31, 2024.

What if they take a month to send me my "activation?". I just sit there with my money earning 0.70%?

Has anyone gotten this email and how long did you have to wait for the rate to kick in?

TIA  

It's because you still have your money with them. They want you to take your money out so it can be put back in and count as "new money" for the promo. I already had all of mine out when they emailed me and it was a direct activation for the new promo.

June 1, 2024
4:29 am
The Rock
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PassiveandWary said

It's because you still have your money with them. They want you to take your money out so it can be put back in and count as "new money" for the promo. I already had all of mine out when they emailed me and it was a direct activation for the new promo.  

This particular email is an extension of the promo and states that you should keep your money in the account and you will continue to receive the promotional rate for the full balance. There is no need to pull it out and put it back in.

June 1, 2024
2:55 pm
malquin
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Almost 6pm EST June 1st, still no offer to activate.
They send an email a week before end of offer so people leave their money there but they procrastinate to send the offer activation.
I'm starting to think it's intentional to save on a few days interest.

June 1, 2024
4:04 pm
The Rock
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malquin said
Almost 6pm EST June 1st, still no offer to activate.
They send an email a week before end of offer so people leave their money there but they procrastinate to send the offer activation.
I'm starting to think it's intentional to save on a few days interest.  

They'll activate it eventually but you will only get the 0.7% regular rate until then. Pretty shameless tactics.

June 1, 2024
4:36 pm
davidgeorge
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I guess it will come on Monday, June 3rd because today and tomorrow are the weekend.

June 1, 2024
11:13 pm
Top Dogg
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How do you guys get these "A great rate is coming your way" emails. What am I doing wrong..lol?? Ohh to be part of the "club" again!

June 2, 2024
7:33 am
Alexandre
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Top Dogg said
How do you guys get these "A great rate is coming your way" emails. What am I doing wrong..lol?? Ohh to be part of the "club" again!  

I am not getting these great offers, too. The last one I had is quite modest 4.75%.

For that reason, the money that I often park with Tangerine is currently elsewhere, earning 5% or above.

June 2, 2024
11:53 am
Top Dogg
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Alexandre said

I am not getting these great offers, too. The last one I had is quite modest 4.75%.

For that reason, the money that I often park with Tangerine is currently elsewhere, earning 5% or above.  

I used to get offers all the time with Tangerine but no more. I believe the last promotional offer I got from them ended September 30th, 2023 and since then I have received nothing.

June 2, 2024
11:59 am
Alexandre
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Top Dogg said

I used to get offers all the time with Tangerine but no more. I believe the last promotional offer I got from them ended September 30th, 2023 and since then I have received nothing.  

I checked my Tangerine account: I have not had offers between June 2022 and February 2023. Then, they I started getting them again.

I don't know what logic Tangerine applies to their promo offers.

June 2, 2024
2:10 pm
JohnnyCash
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Alexandre said

I checked my Tangerine account: I have not had offers between June 2022 and February 2023. Then, they I started getting them again.

I don't know what logic Tangerine applies to their promo offers.  

Neither does anyone else. I laugh when someone hypothesizes that they think they've figured it out.

June 2, 2024
6:39 pm
suburbs4life
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You don’t think it has to do with how large one’s balance or general deposits are at these institutions? I had small balances, deposits and I got nothing as a student and then once I had larger balances, deposits they seem to be more regular over the last 4 years. Coincidence? I doubt it. It probably plays a role to a certain extent.

June 2, 2024
10:45 pm
Norman1
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Balances makes no difference. Less than $100 total in all Tangerine accounts for months multiple times and I eventually receive a targeted offer.

One person filed a complaint with the Tangerine ombudsman awhile back because he was not receiving targeted offers reported here. The ombudsman investigated and reported the offers are assigned randomly.

One just needs to get added to the pool of candidates and wait to be selected by Tangerine's random number generator.

June 3, 2024
11:17 am
COIN
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To-day is June 3, 2024. Has anyone seen this "great rate"?

June 3, 2024
11:20 am
AdrenalineTrade
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Nothing for me yet...

June 3, 2024
11:38 am
gicjunkie
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I vowed a long time ago not to grovel for better rates at Tang. I got the email about the proposed extension of my promo rate, but no actual extension has been received yet. I moved the money. If something appears in the future, I may move some back. There are other places to invest.

FWIW : If an institution wants to keep our business by extending a promotion, just do it and stop jerking us around!

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