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Tangerine Retention Rates/Winter Promo Q1(Jan) 2018
January 3, 2018
10:50 am
fbeaulie
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I was planning on moving everything out on January 1st but I was away and I came back later than expected 🙁

I moved everything out to my Tangerine Checking account very early January 2nd.

I recall seeing questions as to whether or not it was "end of day" but I don't recall if someone had a definitive answer?

Thanks

January 3, 2018
11:29 am
fbeaulie
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fbeaulie said
I was planning on moving everything out on January 1st but I was away and I came back later than expected 🙁

I moved everything out to my Tangerine Checking account very early January 2nd.

I recall seeing questions as to whether or not it was "end of day" but I don't recall if someone had a definitive answer?

Thanks  

It seems to be impossible to get a definitive answer from Tangerine...

January 3, 2018
11:35 am
Slybanking
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fbeaulie said
I was planning on moving everything out on January 1st but I was away and I came back later than expected 🙁

I moved everything out to my Tangerine Checking account very early January 2nd.

I recall seeing questions as to whether or not it was "end of day" but I don't recall if someone had a definitive answer?

Thanks  

Your balance for Jan 2nd is the last balance that was showing on your account transaction description on the website for Jan 2nd. So your are ok cause the transfers to your Tang checking are immediate.

January 3, 2018
11:36 am
Loonie
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Thanks, Peter, for the necessary instructions!
2.5% to May 31.

January 3, 2018
11:50 am
Bill
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I got the same offer, not my wife, she's not happy - gotta go, needle her some more!

January 3, 2018
12:10 pm
fbeaulie
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Slybanking said

Your balance for Jan 2nd is the last balance that was showing on your account transaction description on the website for Jan 2nd. So your are ok cause the transfers to your Tang checking are immediate.  

Since I did not get a confirmation from Tangerine, I have decided to transfer almost all the money to my wife's account through our joint account (she also got the offer and her balance "at the beginning" of January 2nd was low). I have put some back into my savings account to see if get some "Promotional Bonus Interest" on February 1st.

My question to Tangerine was:

Me: "Could you please confirm what is my balance on January 2nd for the purposes of that offer? (...) I have moved money from my Savings Account to my Checking Account at the beginning of the day on January 2nd. Thanks"

Them: "Unfortunately those funds transferred to the Chequing will not count as a net new deposit to the account."

Not a good start...

Me: Because the balance is calculated "any time on January 2nd" as opposed to "end of day"?

Them: A few moments please.


Them: Net new deposits refers to any additional funds that come into the Account over and above the Account balance on January 2, 2018.

Obviously, the person is good at cut and pasting but not at answering this particular question...

Later (after refusing 1.6% for 90 days):

Me: It would be nice if the offer could be clear as to whether it is "at any time on "D" day" as opposed to "at the end of "D" day".

Them: One moment while I log your feedback on this. (...) We appreciate your feedback it has been logged. Sorry for any inconvenience caused regarding the promotion.

After posting, I realized that the question could have been clearer...: "over and above the highest Account balance at any time on January 2, 2018"?

January 3, 2018
12:14 pm
fbeaulie
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Bill said
I got the same offer, not my wife, she's not happy - gotta go, needle her some more!  

Tell your wife to transfer her money into your Savings account!

January 3, 2018
12:39 pm
Loonie
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fbeaulie - I think your questions were clear enough. They['re the ones who have this condition, so they ought to be able to deal with the questions which obviously arise because of it. Your CSR obviously had no clue.

January 3, 2018
12:42 pm
smayer97
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Peter said
In case anybody has trouble locating the offer in their account: Note that I found my offer under Insights and in one of the slider banners. It did not show up under Profile & Settings > Bonuses & Contests until I activated it, nor under the individual account views (at least on the default Transactions tab; it might have appeared under Account Details, but I didn't check there before I activated it).  

Thanks for the "insight" but no love...not in Insights, not in Bonuses...for either my or my wife's accounts. Been fortunate all these cycles, except this time.

I guess back to EQ...Will not do Simplii because of their in/out limits being WAY TOO LOW.

January 3, 2018
12:44 pm
smayer97
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fbeaulie said
I was planning on moving everything out on January 1st but I was away and I came back later than expected 🙁

I moved everything out to my Tangerine Checking account very early January 2nd.

I recall seeing questions as to whether or not it was "end of day" but I don't recall if someone had a definitive answer?

Thanks  

Next time simply put in a Scheduled transfer to my Tang chqing acct...I set mine for Jan 1 and it was processed at 3 AM Jan 1 AND it is recorded as Jan 1, not next business day, Jan 2.

January 3, 2018
12:49 pm
smayer97
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fbeaulie said

Them: "Unfortunately those funds transferred to the Chequing will not count as a net new deposit to the account."

 

Tang documents that the account snapshot only includes Savings, TFSA, etc but NOT Chequing. And based on other's feedback here, moving to Chqing before the snapshot, then moving back to Savings DID work to qualify. So unless the rules or documentation has changed, I suspect she may be wrong (would not be the first time).

If anyone can confirm/validate, that would be great.

January 3, 2018
12:52 pm
richandafraid
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I moved my money from Savings to Chequing on Jan 2nd. Moved it back today but I swear if Tang doesn't give me the bonus interest on Jan 31 I will never deal with them again.

January 3, 2018
12:54 pm
RicksBank
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The fine print for this latest promo offer still states clearly that funds transfered from a Tang chequing account to savings qualify as new deposits for the promo.

January 3, 2018
12:55 pm
Slybanking
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I can only add that on the last quarter, I moved my money from savings to checking on the day of the snapshot and I got the bonus interest after moving it back the day after. Again, I think you are good but things can change.

January 3, 2018
1:00 pm
savemoresaveoften
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For those that received phone call prior to this promotion and declined their phone call offer, do any of you receive this new offer ? I checked my account and so far nothing. A family member's account who they refused to pay anything better than 1.6% in the past receives this 2.5% 5mth offer.

January 3, 2018
1:01 pm
NorthernRaven
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Right now they probably prefer to keep the money from going out of Tangerine, and also spur people to add chequing accounts. If they ever feel out-transfer gaming is actually messing up their plans, they can always include chequing balances as old money. But they could also just give some of the chequing transfer people lousy promo rates if they want to try things out. Without knowing their goals and actual customer behaviour, there's no real way to guess at any changes they might make.

January 3, 2018
1:11 pm
fbeaulie
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Slybanking said
I can only add that on the last quarter, I moved my money from savings to checking on the day of the snapshot and I got the bonus interest after moving it back the day after. Again, I think you are good but things can change.  

Thanks for confirming that you actually went through the same issue for that last offer. I will confirm on February 1st if it is still the case.

January 3, 2018
1:14 pm
JW
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Thanks Peter. I thought we did not get the Offer. Checked Insights, found the Offer and Activated. Checked Profile and the Promo appeared. Will be staying with Simplii at least to Feb 28. Then will see if I get anything better then 2.5%.

January 3, 2018
1:15 pm
Bill
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smayer97 and savemoresaveoften, I'd try calling them in a couple of days, if you've still got nothing and you want to try, and just say that your last promo ended Dec 31 and you were wondering (just before you're about to transfer your money out which of course you prefer to avoid) if they had any other offers for you because obviously nobody's money's staying there for 1% (no threat or any negativity of any kind, just friendly chat, "surely you can understand that 1% is easily bested elsewhere", etc). That's worked for me every time I've been left out. Worth a try, you've got nothing to lose.

January 3, 2018
1:16 pm
-bsv-
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richandafraid said
I moved my money from Savings to Chequing on Jan 2nd. Moved it back today but I swear if Tang doesn't give me the bonus interest on Jan 31 I will never deal with them again.  

You can always text/call them and ask for the interest. This should not be a problem.

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