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Tangerine Summer 2017 promotion
September 12, 2017
1:59 pm
MG
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DavidAlta13 said
Tang chequing account, which would avoid the holds but would pay no interest.  

Actually, Tangerine chequing DOES pay interest, albeit not a high rate. It is as high as 0.65% on balances over $100K.sf-cool

September 12, 2017
2:19 pm
Rick
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CHUCK21 said
HELLO,
I TRIED TO WITHDRAW 50K FROM TANGERINE AND THEY WOULD NOT ALLOW IT OVER THE INTERNET. I HAD TO CALL TO FIND OUT THAT MY WITHDRAWAL LIMIT IS 25K PER DAY. THIS COULD BE TROUBLE IF YOU WAIT TO LATE. ANY SUGGESTIONS?  

Don't think there are any limits on transferring funds between Tang accounts. That's why I opened a checking at Tang...to avoid losing interest while it's in limbo between institutions. Or have you tried "pulling" from the receiving bank instead of "pushing" from Tang?

Bill said
Rick, this is unclear to me: "I've been moving it out to Tang checking on the 3rd of the month of the next promo, then back in on the 5th."

Do you mean to say "out of Tang" instead of "out to", i.e. you've been moving your money out of Tangerine before the end of every quarter? And how have you been checking on the 3rd - your email? your online account? calling them? 

Out of Tang savings into Tang chequing, then back to Tang savings via online transfer

September 12, 2017
2:28 pm
Rick
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DavidAlta13 said
I am now assuming they are using an algorithm that looks for savings accounts with significantly lower balances on the 3rd or 4th versus something like the previous 30 days' average. It can't be the qtr end balance, as that's zero for so many of us.  

That theory makes the most sense I've heard so far to explain Tang 's seemingly random offers.

September 12, 2017
2:39 pm
moneyhelp
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CHUCK21 said
HELLO,
I TRIED TO WITHDRAW 50K FROM TANGERINE AND THEY WOULD NOT ALLOW IT OVER THE INTERNET. I HAD TO CALL TO FIND OUT THAT MY WITHDRAWAL LIMIT IS 25K PER DAY. THIS COULD BE TROUBLE IF YOU WAIT TO LATE. ANY SUGGESTIONS?  

Hi Chuck21,

I had the same issue when I tried this Tangerine "maneuver" where sending $50K FROM Tangerine to another FI, blocked me because I was told later that the daily limit is $25K, but then read on another post/thread that you should try and initiate the transfer from the OTHER FI and I did that last time and it worked, I was able to transfer $50K without issues.

September 12, 2017
3:36 pm
DavidAlta13
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Rick said
Don't think there are any limits on transferring funds between Tang accounts. That's why I opened a checking at Tang...to avoid losing interest while it's in limbo between institutions. Or have you tried "pulling" from the receiving bank instead of "pushing" from Tang?

Tang: Can Push& Pull to/from TD chq or EQ but not Hubert (they only have one member number for all accounts like High Interest Savings, each separate Term Deposit, $US savings @ 0.75%, TFSA & RRSP)
Hubert: Can Push& Pull to/from TD chq, Tang or EQ
For Tang to Hubert tsf’s, pull from Hubert & gain two days’ “double” interest
For Hubert to Tang tsf’s, must go via TD Chq: first push from Hubert to TD Chq, then pull into Tang from TD Chq, lose two days’ interest.
Net: For Sep 27-Oct 6, I will earn 2 day’s 2.69%interest at Tang, 7 days’ 1.7% interest at Hubert and one day’s unknown interest (3.19%? We’ve had two BoC increases of 0.25% during the qtr) at Tang, effectively earning high interest for all 10 days.
If I had a Tang Chequing, I would earn 2 day’s 2.69%interest at Tang, 6 days’ low interest on a balance reduced by $100K and two day’s unknown (3.19%?) interest at Tang, earning high interest for only 4 days. In my case, this would be about $70 less than the above tsf’s to & from Hubert.
I am not currently using EQ as with their $100K max and extra day’s hold vs. Hubert, their 0.6% high rate would only get me an extra $10 for all the additional work.

September 13, 2017
8:43 am
CHUCK21
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THANKS ALL, LOTS OF HELPFUL INFO.
CHUCK

September 18, 2017
8:03 pm
Bill
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A relative's Tangerine 90-day 2% promo ended today so she called and said as .8% doesn't cut it her money would be leaving without another offer - they gave her 2.5% for 90 days. No problem, 5 minutes and done.

September 18, 2017
9:00 pm
Rick
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Bill said
A relative's Tangerine 90-day 2% promo ended today so she called and said as .8% doesn't cut it her money would be leaving without another offer - they gave her 2.5% for 90 days. No problem, 5 minutes and done.  

For .2% difference for 15 days, I think I would have moved it to EQ and waited to see if I was offered a Fall promo. If not just to align my "offers" with their quarterly offers. Seems, this year anyway, they have been slightly better than the CSR's can do. It's Tang. No guarantees, so bird in the hand I guess. I did have to move it all out when I didn't get an offer at all. Good luck!

September 19, 2017
9:40 am
Peter
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I've closed this thread so we can continue any related discussion in a new thread for Q4 2017.

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