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Tangerine Retention Rates Q4 (Oct 4) 2017
October 3, 2017
5:14 am
Joebart
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I just pulled (a few days ago) 250k from Tangerine to Eq bank in the form of three 80, 80 and 90k chunks in one day initiated on the EQ site with no problems whatsoever....and I am just waiting as everybody else to get lucky.

October 3, 2017
9:08 am
Rick
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Joebart said
I just pulled (a few days ago) 250k from Tangerine to Eq bank in the form of three 80, 80 and 90k chunks in one day initiated on the EQ site with no problems whatsoever....and I am just waiting as everybody else to get lucky.  

Thanx. Good to know. With the new limits @ Tang, not sure why anyone would push funds out. Mine is sitting in Tang checking waiting to see if there will be an offer.

October 3, 2017
9:21 am
Joebart
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Thanx. Good to know. With the new limits @ Tang, not sure why anyone would push funds out. Mine is sitting in Tang checking waiting to see if there will be an offer.

I am not 100% convinced that having money in the checking accounts is good enough. I have done that 6 months ago and got " no soup for you" zero so I prefer transfer all money out, but that is just me. We will know very soon....

October 3, 2017
9:36 am
theodor
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Just learned that Scotiabank Premium Plus Savings Account is offering a bonus rate of 0.6% in addition to their regular rate of 0.8% and Premium interest rate of 0.9% for a time period of 360 days. For shorter periods the Premium rate decreases, 90 days 0.75% for a total of 2.15%, 180 days Premium interest rate of 0.80% total 2.20%. Kind of a nice feeling to walk into a brick and mortar bank and chat up the nice looking tellers:-)

October 3, 2017
10:18 am
RicksBank
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Joebart said
I am not 100% convinced that having money in the checking accounts is good enough. I have done that 6 months ago and got " no soup for you" zero so I prefer transfer all money out, but that is just me. We will know very soon....  

Neither was I but I took a chance last time and got the offer. I did it again last week on the 29th.

October 3, 2017
11:08 am
Doug
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Perhaps I'm not navigating the new website design, which I more or less like but has some major issues of which I won't get into, but I've not seen a fall promo offer yet. Can someone post the Terms & Conditions PDF as I have done in the past?

It would seem to me if you've received an offer, it's a "retention offer," one received via calling or e-mailing in. 🙂

Cheers,
Doug

October 3, 2017
11:15 am
RicksBank
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I've never called or emailed and I've always reveived an offer. My wife as well. My account has always been 6 figures; hers never more than $10k.

October 3, 2017
11:32 am
Doug
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RicksBank said
I've never called or emailed and I've always reveived an offer. My wife as well. My account has always been 6 figures; hers never more than $10k.  

Me too, Rick. However, I've not received an offer for the first time ever and, like you, my funds were in my "chequing" account for the past couple days in advance of the expected offer and were "in the six figures". Neither I, nor my parents, received offers. I suspect CEO Rideout is taking a "gamble" and ending the Savings Sales...for now. 🙂

More being discussed here: https://www.highinterestsavings.ca/forum/tangerine-bank/calling-it-tangerine-ending-quarterly-promo-rates/

Cheers,
Doug

October 3, 2017
11:42 am
RicksBank
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Doug...I'm confused. It's only the 3rd. Offers don't come for a couple more days. What am I missing?

October 3, 2017
12:07 pm
Slybanking
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Same here, all my previous offer arrived on the 5th of the month.

October 3, 2017
1:11 pm
bpwest
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Slybanking said
Same here, all my previous offer arrived on the 5th of the month.  

Yes, as the last two folks have mentioned, Tangerine 'snapshot' of total Savings acct(s) balance (s) generally occurs end of day on the 4th (Jan 4, Apr 4, July 4, and (hopefully) Oct 4, and bonus rate would take effect Oct 5 (Oct 5- Dec31), on new money, above and beyond your 'snapshot' balance, presumably.

One can check on the 5th to see if they have received a new 'special rate offer', by logging on to their online banking, and clicking on their name @ top right of page, clicking on 'profile and settings', then 'bonuses and contests'.

Hopefully there will be an offer waiting. This offer may present itself upon logging on, as well, as a 'banner' announcement?, and one will quite likely receive an email, announcing the offer, but that may well arrive later in the day, or following days?

Or course, there may be 'no soup for you' as these are targeted.

Here's hoping Tangerine continues this time honoured tradition of 'special rate' offers, and best wishes to one and all!!

October 3, 2017
4:00 pm
GoHabs
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Rick said

Thanx. Good to know. With the new limits @ Tang, not sure why anyone would push funds out. Mine is sitting in Tang checking waiting to see if there will be an offer.  

My primary bank is BMO and I see no way to pull. It appears the only accounts I can list are BMO-related accounts. If there's a way, please someone educate me!

October 3, 2017
9:07 pm
Rick
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GoHabs said

My primary bank is BMO and I see no way to pull. It appears the only accounts I can list are BMO-related accounts. If there's a way, please someone educate me!  

Each bank has different rules for linking accounts. I don't see anything on the BMO site about linking. May have to send yourself an Interac E-Transfer or write yourself a check. Best to check with them.

October 3, 2017
10:44 pm
Norman1
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Rick said

Each bank has different rules for linking accounts. I don't see anything on the BMO site about linking. May have to send yourself an Interac E-Transfer or write yourself a check. Best to check with them.  

We've been spoiled by online financial institutions, like Hubert, Tangerine Bank, and EQ Bank.

Ability to originate a direct deposit to push money or a pre-authorized debit to pull money is not offered to retail accounts by full-service bricks-and-mortar financial institutions, like BMO and RBC. Such ability is considered by them to be a service for commercial or business accounts.

October 4, 2017
12:05 am
DavidAlta13
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GoHabs said

My primary bank is BMO and I see no way to pull. It appears the only accounts I can list are BMO-related accounts. If there's a way, please someone educate me!  

First, none of the big 5/6 chartered banks allow linking to other FI's.

Second, there are two strategies for getting the Tang special offers as described in this topic's 1st post:

#1. Open both Tang Savings & Chequing accounts; on the 4th of the new qtr, move $ from Savings to Chequing, then on the 5th, move it back. This means earning Tang's normal posted Savings rate for the 1st - 3rd and nil on the 4th.

#2. Open a high interest savings account at one of the listed FI's on on this site's Comparison Chart and link it to your Tang Savings. Then, usually a couple of business days before the new qtr, Pull the $ into the other FI from Tang. Next, usually on the 4th of the new qtr, Push it from the other FI back into Tang so it arrives there on the 5th. These timings are general & need to be adjusted for both the other FI's holding period, and for weekends &/ stat holidays.

The difference between the two approaches is marginal. For example, suppose Tang's normal posted Savings rate was 1% for all of 2017 & 2018, the special promo rate from the 5th day of the qtr until the end was 2.69%, and Hubert had a 4 business day hold and paid 1.85%. Then the 2017 quarterly extra interest for option #2 vs. #1 would have been 0.0138%, 0.0115%, 0.0300% & 0.0185%. 2018 works out a bit better at 0.0277%, 0.0304%, 0.0273% & 0.0401%.
In $ terms, if you had $100K, you would have made an extra $74 in 2017 and $126 in 2018. To see if the extra work for #2 is worth it, adjust these extra interest amounts to your level of deposits. For someone with $10K, it seems like a lot of work to make $7.40 & $12.60. If you have $500K, then maybe you want the extra $369 / $630.

October 4, 2017
12:20 am
Loonie
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Norman1 said

We've been spoiled by online financial institutions, like Hubert, Tangerine Bank, and EQ Bank.

Ability to originate a direct deposit to push money or a pre-authorized debit to pull money is not offered to retail accounts by full-service bricks-and-mortar financial institutions, like BMO and RBC. Such ability is considered by them to be a service for commercial or business accounts.  

The Big Banks do offer pre-authorized debit, but only for paying bills.

They will have to do it eventually, I expect, because they are becoming increasingly peripheral to the needs of increasing numbers of Canadians. Or maybe they will get out of the savings/chequing/debit business altogether. Most likely they will keep taking over the smaller banks and dilute their value to us.

October 4, 2017
4:05 am
Joebart
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Something is happening....................................! -:)
In my folder today, there is an offer for fall 2017 but the click on it is not working yet so no details so far...

October 4, 2017
4:37 am
fbeaulie
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Joebart said
Something is happening....................................! -:)
In my folder today, there is an offer for fall 2017 but the click on it is not working yet so no details so far...  

Same here (and for my wife as well).Tangerine-offer-Fall-2017.JPG

October 4, 2017
4:55 am
fbeaulie
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DavidAlta13 said

Second, there are two strategies for getting the Tang special offers as described in this topic's 1st post:

#1. Open both Tang Savings & Chequing accounts; on the 4th of the new qtr, move $ from Savings to Chequing, then on the 5th, move it back. This means earning Tang's normal posted Savings rate for the 1st - 3rd and nil on the 4th.
  

Unless what I'm currently seeing in my account is an error (can't open the details yet), it seems that it would be one day too late this time.

October 4, 2017
5:28 am
Rick
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Joebart said
Something is happening....................................! -:)
In my folder today, there is an offer for fall 2017 but the click on it is not working yet so no details so far...  

Ditto

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