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Tangerine Retention Rates/Winter Promo Q1(Jan) 2018
December 26, 2017
5:54 pm
howiemandel
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Happy Holidays fellow savers,

The Q4 2017 thread was at 17 pages and there is a lot of useful data in there. In order to keep things up to date and current, I've started the latest round for data point gathering and information sharing.

I'll start:

Called in on Dec 27th around 6pm PST to initiate a transfer out in order to be eligible for a potential winter 2018 promo. CIBC is currently offering 2.3% on the esavings account. I figure I can park my funds there while gambling to see what the next promo is. The current 2.75% promo I am on ends Dec 31st, I'd be out 45bps for about a week or so.

The Tang rep attempted to retain my funds with a 2.5% rate for 90 days. I politely declined, the 20 bps differential vs CIBC is worth the sacrifice to see what first week of Jan brings.

Please post your offers and or retention rates as they come in.

Many thanks and best wishes for 2018.

December 26, 2017
7:03 pm
bpwest
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Thanks for refreshing the Tangerine retention/promo rate discussion.

I rec'd the Tang Q4 Oct 4 -Dec 31 promo rate of 2.75%, but was happy to take advantage of Simplii's 3% offer, and as a PC Financial customer, I did not have to endure the frustrations of setting up as a brand-new customer of Simplii.

I plan on letting my money 'ride' at Simplii until Feb 28ish, but will keep an eye to what Tangerine may offer...

December 26, 2017
8:27 pm
rfdm4g4g9
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howiemandel said
Happy Holidays fellow savers,

The Q4 2017 thread was at 17 pages and there is a lot of useful data in there. In order to keep things up to date and current, I've started the latest round for data point gathering and information sharing.

I'll start:

Called in on Dec 27th around 6pm PST to initiate a transfer out in order to be eligible for a potential winter 2018 promo. CIBC is currently offering 2.3% on the esavings account. I figure I can park my funds there while gambling to see what the next promo is. The current 2.75% promo I am on ends Dec 31st, I'd be out 45bps for about a week or so.

The Tang rep attempted to retain my funds with a 2.5% rate for 90 days. I politely declined, the 20 bps differential vs CIBC is worth the sacrifice to see what first week of Jan brings.

Please post your offers and or retention rates as they come in.

Many thanks and best wishes for 2018.  

You called in too early .

Call on December 29 to transfer the money. The money won't be out till Jan 2, since Dec 30, Dec 31 & Jan 1 are holidays. But Tuesday - Jan 2 the money will be out of Tangerine.

So you will earn interest till Jan 1, 2018 on that money, even though you initiate the transfer on Dec 29.

They will take a snap shot of your balance for Jan 3 for the promo rates.

December 26, 2017
10:22 pm
Loonie
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I find it amazing how self-confident people can be about what Tangerine is going to do next, with exact dates. But it's Tang that's in control, not us.
No marketing approach lasts forever; none.
It's like the stock market. We only know what has happened in the past, and we can only make our best guess about what will happen in the future.

December 27, 2017
8:45 am
Bill
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Family member had 2.5% promo until Dec 16, she called Dec 26 and got another 90 days at 2.5%.

December 27, 2017
10:06 am
Saver-Mom
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I don't understand calling in when they may be making offers higher than that in a few days...are you afraid it will all end?

December 27, 2017
11:03 am
rhvic
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I'm going to wait for the new Tang offers which may come in January. On the 29th I will move Tang savings over to Tang chequing and park it there. If Tang does not come up with something better than 2.5% then I will transfer to Ideal (since already maxed to CDIC at Simplii).

December 27, 2017
11:37 am
Brimleychen
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I will remain with Simplii for 3%, unless Tangerine offer a bit more.

With the rising US$ funding cost, the US treasury yield is on the rise, and there is no reason C$ Interest rate can stay low like last three years. Otherwise, C$ will tank like Peso.

I will stay in daily saving in 2018 without renewal of any matured GIC

December 27, 2017
11:57 am
Slybanking
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rhvic said
I'm going to wait for the new Tang offers which may come in January. On the 29th I will move Tang savings over to Tang chequing and park it there. If Tang does not come up with something better than 2.5% then I will transfer to Ideal (since already maxed to CDIC at Simplii).  

Why Dec 29th. I will move everything from saving to checking on January 2nd.
Its an instant transfer.

December 27, 2017
12:16 pm
Bill
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Saver-Mom, I didn't question the family member as to her motivation for doing what she did but I don't get the vibe that she's the fearful type so I don't think she was afraid of the consequences, she's just not into the game as enthusiastically as a few folks here. But you're right, anything can, and ultimately will, end.

December 27, 2017
1:39 pm
richandafraid
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Slybanking said

Why Dec 29th. I will move everything from saving to checking on January 2nd.
Its an instant transfer.  

Is there a limit to how much you can transfer out of Tang Savings to Tang Checking account via online transfer?

December 27, 2017
5:20 pm
Saver-Mom
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Not in my experience

December 27, 2017
6:43 pm
rhvic
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Slybanking said

Why Dec 29th. I will move everything from saving to checking on January 2nd.
Its an instant transfer.  

Well, just in case Tang decides to count the balance as of the end of December.

December 28, 2017
6:08 am
Bill
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rhvic, I agree - I always have my money in position about a week before any real or possible deadline if it's going somewhere else, if it's going to chequing I agree what you're doing is the prudent course.

December 28, 2017
9:29 am
Slybanking
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rhvic said

Well, just in case Tang decides to count the balance as of the end of December.  

I have transferred large amount before (online) and don't think there is any limit to internal transfer. Yes the prudent course is to transfer at the end of December but we have other good options at the moment and we can also call Tangerine and ask if we missed the special offer.

In any case good luck to everybody.

December 28, 2017
12:42 pm
moneyhelp
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richandafraid said

Is there a limit to how much you can transfer out of Tang Savings to Tang Checking account via online transfer?  

I don't know if there is a limit from one account to another within Tangerine, I would imagine there isn't.

However, EFT limit from Tangerine to another FI, was $25K and now is at $50K. Anything above that, you have to call in and request it over the phone.

December 29, 2017
10:14 am
jettcoco
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December 27, 2017
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Simplii is doing nothing to keep me there, they will not give me an extension on 2017 high interest promotion. I have an appointment to open a CIBC eadvantage account on Jan 2, take advantage of 2,3% til end of March. Then i'll see what new promos pop up.

December 29, 2017
11:53 am
Bill
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My experience with Simplii over the years is once a promo is over that's it for me, they don't try to keep my money there, so I just keep the account open and sooner or later, sometimes after years, they come out with a new promo.

December 29, 2017
12:14 pm
CHUCK21
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I GOT A CALL A FEW DAYS AGO OFFERING THE 2.5% FOR 6 MONTHS. I DECLINED AND WILL MOVE MY FUNDS MANYANA. NOTHING LIKE GAMBLING.

January 1, 2018
9:54 am
smayer97
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You all do know that you do not have to wait to have your funds moved on Jan 1, right? You can actually schedule it well in advance so you do not have to babysit it...

I did that...funds got transferred to chequing at 3 AM today...

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