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Tangerine Summer 2017 promotion
July 4, 2017
10:57 am
NorthernRaven
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laura77 said
Curious to know - is there a promotion EVERY quarter? (whether one gets the offer or not)

Today I called Tang saying I wanted to move my money out to get higher interest elsewhere, and was offered 2.5% for 3 months. I took it as it's better than EQ and I'm maxed out there anyways.

However, I'm wondering if I should have just moved the money out and waited to see if there was a new money promo like the 3.21% I was enjoying for the last 3 months.

I guess I will find out in the next few days!

Now that I've basically forfeited any summer promo by taking the 2.5 retention offer, I will definitely be pulling out at end of September. Hoping for another juicy 4th quarter promo like last year. ...What a ridiculous game we play.  

They seem to have the targeted promos every quarter, but whether most people are getting multiple consecutive offers isn't clear.
From what I've seen, your 2.5% retention (not targeted promo) rate is fairly good - the chatter I've seen in previous quarters seemed to indicate that human agents offered 1.6%-2% max. They may have raised this in some cases with EQBank now offering 2.3%.

Everyone grumble about Tangerine's games, but no-one has suggested something preferable that doesn't require them to pay high rates to ALL their deposit base, which isn't going to happen.

July 4, 2017
11:07 am
Winnie
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Rick said

You missed one:
Tangerine Chequing Account
$0.00 - $49,999.99
0.15%
$50,000.00 - $99,999.99
0.55%
$100,000.00 or more
0.65%

Stupid question. Do you get .15 on the first 50K and .55 on remainder up to100K or once you cross the 50K mark you get .55 on the entire balance? Either way...less than 1% is "virtually nothing"  

Yes, I omitted 0.15% (under $50,000) on purpose sf-wink

Once you cross the $50,000 mark, you will get 0.55% on the entire balance and once you cross the $100,000 mark - 0.65%.

Yes, less than 1% is "virtually nothing", I agree.
But, it's better to get 0.55-0.65% for 2-3 days, than move money out during long weekend holiday.

July 4, 2017
11:09 am
Rick
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Winnie said
But, it's better to get 0.55-0.65% for 2-3 days, than move money out during long weekend holiday.  

I agree as well

July 4, 2017
11:27 am
laura77
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Rick said

Here's the offers I have received:
Spring Savings 2017 - view Terms and Conditions 5-Apr-2017 30-Jun-2017
Winter Savings 2017 - view Terms and Conditions 5-Jan-2017 31-Mar-2017
Fall Savings 2016 - view Terms and Conditions 5-Oct-2016 31-Dec-2016
Spring Savings 2016 - view Terms and Conditions 5-Apr-2016 30-Jun-2016
Winter Savings 2016 - view Terms and Conditions 6-Jan-2016 31-Mar-2016
Tangerine 2015 Summer Savings Sale - view Terms and Conditions 2-Jul-2015 30-Nov-2015
Savings Interest Offer - view Terms and Conditions 1-Apr-2015 30-Jun-2015

I have been with them since ING... Sep 2003. Notice I haven't gotten the Summer promo for 2016...don't know why. Yes... It is a silly game.  

Thanks for sharing Rick. Good to know they can be so regular for some of us. I just went and looked at my historical offers as well. Twice now (including today) I've taken the "retention offer" at 2.5%. Probably a mistake as I can see that the seasonal offers are always higher. I should have pulled out and waited!

Unlike you, I did get the summer 2016 offer, but I didn't get the winter 2017 offer.

July 4, 2017
11:32 am
laura77
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NorthernRaven said

They seem to have the targeted promos every quarter, but whether most people are getting multiple consecutive offers isn't clear.
From what I've seen, your 2.5% retention (not targeted promo) rate is fairly good - the chatter I've seen in previous quarters seemed to indicate that human agents offered 1.6%-2% max. They may have raised this in some cases with EQBank now offering 2.3%.

Everyone grumble about Tangerine's games, but no-one has suggested something preferable that doesn't require them to pay high rates to ALL their deposit base, which isn't going to happen.  

Thanks NorthernRaven.

I believe I get the 2.5% because I have EQ in my list of accounts, as you suggest. They have to beat that 2.3 for me to stay. Also, I keep a large balance.

2.5 is nice but I think I may be kicking myself when I see the summer bonus rate come out. sf-confused

July 4, 2017
11:36 am
Rick
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NorthernRaven said
Everyone grumble about Tangerine's games, but no-one has suggested something preferable that doesn't require them to pay high rates to ALL their deposit base, which isn't going to happen.  

Why not? The fact that ING offered consistently higher rates than the competition for years until Scotia took over would negate that statement . One would be a fool to take a promo offer and leave it in @ .8%. Is that their game...trying to catch the stupid people with lots of money and trick them into leaving in at less than 1%? Generally, stupid people don't have a lot of spare cash to keep in savings, so not a big customer base there. Here's your suggestion (I have been saying it since they started playing these games): Just go back to offering above average rates ala ING. Don't necessarily have to be the highest, but at least in the ballpark would stop all the fluctuating and ticking people off. Their deposit base has done nothing but drop since they started this foolishness. Looking at the posts here, it looks like people are tired of the games and the migration out continues. My prediction is the will just eventually be a Scotiabank clone, if they don't just absorb Tang all together.

July 4, 2017
11:54 am
Winnie
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laura77 said
...
2.5 is nice but I think I may be kicking myself when I see the summer bonus rate come out. sf-confused  

The "beauty" of this stupid game is, that we do not know exactly what rules they use to play it sf-confused

Some people received 2.5% retention.
Other people, who called and asked, did not received.

Summer promotion probably will start tomorrow, but not everyone will receive it.

After tomorrow, if someone will call and ask for retention/promotion, they may get that nice 2.5% rate or 1.6% or nothing at all sf-smile

July 4, 2017
12:32 pm
Loonie
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If they're losing deposits, they're going to have to come up with another strategy than the current crap-shoot.
And I think they will, sooner or later.
Best to grab what you can while you can if it's better than whatever else you have on offer. 2.5% is a very decent rate. I wouldn't grumble about that. 3.21 etc is not sustainable in the current market - that was NR's point. You will get a set-back sooner or later, and you may get written off entirely as a promo candidate.
My feeling now is that I treat them the way they treat me - as totally dispensable. I was very loyal during all the years when ING was around and had superior rates. Now, I have no loyalty at all. I just follow the money.

.65 on 100K for 3 days is over five bucks. I'll take it! And it's likely to involve more than 3 days if you moved the money in advance and then had to wait for a decent offer and wait for it to transit both directions.

July 4, 2017
10:31 pm
moneyhelp
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Does anyone know if you don't get the summer promo offer, is calling in any better than chatting online with a live agent? Meaning, will a phone call likely yield a better rate versus getting on the online chat?

Guess I'll find out tomorrow morning...

July 5, 2017
4:40 am
jellym
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When I login to my account this morning, I didn't get any notification saying that I've been selected for the promo rate. However, when I check my savings account details, this appears under "Account Details" :

Special offer: Earn 3.1% interest until September 30, 2017 on up to $500,000 in new deposits to your Tangerine Savings Account(s) and Tax-Free Savings Account(s) made between July 05, 2017 and September 30, 2017.

I guess I got it sf-cool

July 5, 2017
5:28 am
Joebart
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I got 2.97% but wife got nothing so far..I had all money removed from Tangerine a few days earlier, I guess it will go back.

July 5, 2017
5:35 am
Sammy
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I thought I had nothing before you guys said to look into the account details! I got 2.25% (I live in QC)

July 5, 2017
5:40 am
fbeaulie
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Nothing for me - First time not getting an offer since they started making such offers (my wife got 2.3%).

July 5, 2017
5:49 am
FMC
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After moving my money to the Tang Chequing account on the 1st of July I see no offer in my account details. Have moved my money to EQ. If get and participate in an offer from Tangerine in the future will move my money to EQ at the end of the offer period - instead of fooling around with the swap to Tang Chequing. Of those that got an offer did anyone flip to the Tang Chequing account?

Thanks.

July 5, 2017
6:23 am
fbeaulie
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FMC said
(...) Of those that got an offer did anyone flip to the Tang Chequing account?

Thanks.  

Did it for my account and my wife's account (29-Jun-2017 for me and 28-Jun-2017 in her case). I did not get an offer (first time ever) and she did but the amounts are significantly higher in my case.

July 5, 2017
6:53 am
FMC
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fbeaulie said

Did it for my account and my wife's account (29-Jun-2017 for me and 28-Jun-2017 in her case). I did not get an offer (first time ever) and she did but the amounts are significantly higher in my case.  

Thx for the reply.

July 5, 2017
7:14 am
Bill
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jellym, sharp eyes - thanks for the tip! It was there this morning for spouse and me, 2.97% until Sept 30. (Plus I got a happy birthday email from them too - quite the day!) We'd been on a rotating 90-day 2% offer for about a year, just left it there, then only got offered 1.6% mid-June so we moved it all out. So we're friends again, everybody's happy - funny how our affections and allegiances ebb and flow based on how financially beneficial a relationship is - now I like Tangerine better than PC who I was quite happy with, giving us 2.5% until Aug 31. (Though maybe I should be upset that jellym's getting 3.1%! I remember reading once that most people would prefer a gift of $500K to everyone instead of a gift of $1 million to them and $2 million to everybody else - envy, a most powerful force!)

July 5, 2017
7:18 am
Rick
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FMC said
After moving my money to the Tang Chequing account on the 1st of July I see no offer in my account details. Have moved my money to EQ. If get and participate in an offer from Tangerine in the future will move my money to EQ at the end of the offer period - instead of fooling around with the swap to Tang Chequing. Of those that got an offer did anyone flip to the Tang Chequing account?
Thanks.  

You posted this @ 0549. I checked Tang @ 0600... no offer. Was also going to move it out but decided to wait. Checked again @ 0630 and was offered 3.22 until Sep 30. Was definitely not expecting a better rate than the spring promo. Wife did not get an offer this time. Yes...I parked it in the checking from Monday until today.

July 5, 2017
7:18 am
Peter
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No bonus offer for me this time. I had moved most of my money outside of Tangerine (that is, not just to chequing) last week.

July 5, 2017
7:21 am
Rick
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laura77 said
2.5 is nice but I think I may be kicking myself when I see the summer bonus rate come out. sf-confused  

So are you kicking yourself? Just wondered if they offered you the summer promo

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