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Tangerine Summer 2017 promotion
July 6, 2017
11:12 am
SlowPoke
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Had moved funds to Chequing a day or 2 before the end of the month
Was offered 3.1 % for both of us this time
The last spring round was the 2.83 %

July 6, 2017
11:20 am
RicksBank
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Sorry...sloppy writing and reading on my part. The 2.83% was indeed at Tang for the last quarter, not EQ. I didn't trust just moving it to Tang chequing so I moved it to EQ before Dec 31. It was a bit of a pain so this time on June 30 I just moved it to Tang chequing and got a 3.1% promo just now.

July 6, 2017
12:03 pm
Slybanking
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My son only has $5,000. He opened a checking account online on sunday and just transfer his balance from saving on the same day. Tuesday he got the 3.22% offer... We know that the amount is not by itself a yes or no criteria for who gets what offer.

July 6, 2017
12:33 pm
Nav66
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More info..... I did move all of my money directly to my linked EQ acct on June 30th and moved it back today (had to wait for the hold period at EQ). Amount is 335K.

July 6, 2017
12:40 pm
RicksBank
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Nav66 said
More info..... I did move all of my money directly to my linked EQ acct on June 30th and moved it back today (had to wait for the hold period at EQ). Amount is 335K.  

In January when I moved mine back I could only do $30k at a time. What did you do just now to move it back?

July 6, 2017
1:29 pm
Nav66
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For RicksBank - I simply called Tang and had them initiate a deposit transfer from my linked EQ account. BTW - By doing it from the TANG end (I could also do the transfer from the EQ website), the funds won't be withdrawn from the EQ acct 'til Monday but the deposit will be credited at Tang TOMORROW!!. I'll get 2.3% on the funds Fri, Sat & Sun at EQ PLUS 3.22% at Tang for those days. The point is that it takes EQ 2 banking days to complete a transaction and Tang only takes one day.....a very useful difference (particularly over weekends) which allows you to 'double dip' on earning interest as I have described.

July 6, 2017
1:53 pm
Nav66
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Those with Tang & EQ acnts might find this interesting: First, log into your Tang acnt and create a link to your EQ acnt then log into your EQ acnt a create a link to your Tang acnt. When moving $$ from Tang to EQ, do it from the EQ website. EQ will pay interest on the $$ starting THAT day! AND Tang will continue to pay interest that day and the next! YES...the $$ earns interest at both banks for two days. When moving $$ from EQ to Tang, do it from the Tang website. Tang starts paying interest the next day while EQ doesn't STOP paying interest 'til 2 BANKING days later. (which means 2 extra days of double interest on weekends). Hope some find that helpful. Cheers

July 6, 2017
2:10 pm
Nav66
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For RicksBank - Correction..I did call Tang but they told me I could do it myself (no limit on deposit amounts) so, thats what I did (used the 'Move my Money' feature).

July 6, 2017
4:24 pm
dpks
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No promo rate offer for either my account or my wife's.

Kind of expected for mine since I had an existing 2% retention offer that only just expired today, but my wife's has had nothing (no retention or promo offers since July 2016).

I just called them and got the same 2% retention on my account extended for another 90 days.

July 6, 2017
4:49 pm
Rick
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dpks said
No promo rate offer for either my account or my wife's.

Kind of expected for mine since I had an existing 2% retention offer that only just expired today, but my wife's has had nothing (no retention or promo offers since July 2016).

I just called them and got the same 2% retention on my account extended for another 90 days.  

As usual, Tang's method for who gets what rate is a mystery, but I'm starting to think that the people that have actually moved their money out of Tang at one time or another are the ones that get better promo offer rates. Kind of make sense. Why give a better rate to anyone who will settle? Not saying that is your case, but have you ever drained the account for equal/better rates elsewhere? Just curious.

July 6, 2017
4:57 pm
AlainJF
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I have been reading all post about the "Tang Promos" for many months and I concluded that nobody knows for sure their "algorithm" (if any) to offer or not a 3%+ promo.

I personally gave up trying to get a 3%+ offers by removing all my $ in the account. Been there, done that, but for some reasons ("algorithm ?"), it has never worked for me. i.e. "No soup for you, come back three months"

Alternatively, each time I call Tang, I get 2% in 1 minute of discussion....even with a 0$ balance... So they do no hate me, at least.

One thing that I do not have is a "cheque account" with Tang. In fact, I have only one HISA and nothing else. (???... perhaps this is part of the "algorithm " ???)

So: Is there anyone here who got a 3%+ offer and who only has ONE HISA with Tang and nothing else ?

July 6, 2017
5:21 pm
RicksBank
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Rick said
I'm starting to think that the people that have actually moved their money out of Tang at one time or another are the ones that get better promo offer rates.

My wife has never moved or drained her account and got a 3.1% offer yesterday.

Alain: she has only 1 HISA and nothing else. The balance is currently $5500 and has never been more than $12,000. Her linked account is a no-interest TD chequing account only.

July 6, 2017
5:30 pm
Cents11111
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Because there was a change to Tangerine's fees in the last quarter to start charging for an unused chequing account (forgotten over what period), I closed my chequing account (my wife never had a chequing account). Neither my wife nor myself received an offer from Tang. I had called on June 30 (was getting 3.21%) and moved the cash to TD. I didn't ask for nor did they make any retention offer.
So I am also now wondering about the chequing account as we had both received the offer every time up to now and we both have over $100k our saving accounts accounts. So I would also like to know if the chequing account is required. Anybody else?

July 6, 2017
5:54 pm
RicksBank
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I have a Tang chequing account but my wife doesn't. We both got 3.1% yesterday.

I've yet to notice one attribute that is common to everyone who gets an offer or everyone who doesn't. That perhaps implies a list of attributes maybe even with varying weights to arrive at a point total. Kinda like how some spam filters are designed. Pretty tough to reverse engineer their algorithm with the data we have.

I decided not to take it personally if I don't get a promo eventually, but since the difference between EQ and a good promo can be near 1% and it's easy and so far successful to move the money to the Tang chequing account and back, I'll happily continue to play the game.

Is anyone tempted to pull their money back and forth between Tang an EQ continually to nearly double their return with the overlapping interest days? 😉

July 6, 2017
7:38 pm
dpks
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Rick said
As usual, Tang's method for who gets what rate is a mystery, but I'm starting to think that the people that have actually moved their money out of Tang at one time or another are the ones that get better promo offer rates. Kind of make sense. Why give a better rate to anyone who will settle? Not saying that is your case, but have you ever drained the account for equal/better rates elsewhere? Just curious.  

Never drained my account, because all the options with better rates have something that's a deal breaker for me (e.g. EQ doesn't support joint accounts, Hubert doesn't support account renaming, etc.).

But yeah, based on all the replies over the past several quarters, it seems more like Tangerine is in the data gathering phase of a randomized controlled trial.

Meaning they're randomly giving everyone different offers on purpose, with the eventual goal that once they have enough data points they'll be able to mine it for patterns on customer behaviour so that they can better target offers in the future.

July 6, 2017
9:05 pm
Slybanking
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As mention before, my wife and I both got the 3.22 offer. I have a checking account, she does not and her saving account has been at 0 for almost 2 year. I only use the checking account to transfer from saving at the end of the special rate offers. I keep a good amount at tang cause I have been getting good special rates from them. I also have the tang credit card.

July 7, 2017
2:33 am
Twotons
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Curious to see how their algorithm worked so opened new customer account with 6 month promo including chequing account and CC. I kept deposit amount small @ $10,000 and chequing at $100. New client promo ended in middle of quarterly promos so pulled all funds out and cancelled CC. HISA and chequing at zero balance until July 4th. Offered 3.22%. I'll deposit CDIC limit this round, cancel the chequing account and pull all funds bf promo ends. Curious to see next offer. Yes, I have to find better things to do with my time. Lol.

July 7, 2017
5:30 am
AlainJF
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Twotons said
...Curious to see how their algorithm worked so opened new customer account with 6 month promo including chequing account and CC... 

You can own multiple accounts at Tang ? I can imagine that you can have multiple email addresses, and change your name slightly (Charles / Charlie), but what about your Social insurance number (SIN) ? Don`t they ask for that ?

July 7, 2017
5:39 am
DavidAlta13
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Loonie said

DavidAlta13 said

Hubert is insured by gov't of Manitoba w no limit, so no worries there

Correction: Hubert is not insured by govt of MB. It is insured by the Deposit Guarantee Corp of Manitoba which is legislatively regulated by MB govt but not funded by them. See various previous threads on this topic.  

Thanks, Loonie. I should have simply said that since Hubert has no limit on the amount insured, I have no worries depositing my $300K-$400K there.

July 7, 2017
5:43 am
DavidAlta13
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Bill said

DavidAlta13, you say you can transfer from Tangerine into Hubert on one day - does Tangerine not have daily transfer out limits?  

If Tangerine has daily limits on transfers out, they must only apply to transfers initiated on their website, and not to transfers initiated on other websites like Hubert or EQ. So when I said I Pull $ into Hubert from Tangerine, I meant I go to Hubert's website and transfer $ in from Tangerine. That avoids any Tangerine limits, and also gets an extra day's interest as Hubert begins paying interest right away but it takes a day to come out of Tangerine.

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