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Tangerine - Targeted Offer - 3% for 180 days (Oct 4/18)
November 3, 2018
11:20 am
Righand
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I agree completely, it doesn't take days to decide what rate they are willing to give you. When I phoned the 1-888 # they tried to sell me a 3% GIC and when I said that I wasn't interested they told me to phone back just before my 2.5% offer expires.
I phoned back later the same day and simply asked them to move all of my funds out, mid 6 figures.
They just said fine, so in your file their system probably already has a range that they are willing to offer.sf-frown

November 3, 2018
1:53 pm
moneyhelp
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So the question I have is, in the past we've always had to play the money out a few days before your promo rate ends so Tangerine can take a "snap shot" of your zero balance account in order to be offered the new rate. Now, it appears that they have changed their routine and you either have to call in or wait for a call?

If I follow the previous game plan (withdraw funds) do you think that the new offer will be given (regardless of rate)?

I'm debating which to do, but I am willing to withdraw and then put back in if needed.

November 6, 2018
7:22 pm
rfdm4g4g9
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Chatted with a Tangerine rep online, told them about Simpllii's 3.15 % rate.

She immediately told me, I will get our promo team to call you back and see, what they can do. I said sure, and she said is it OK, if they call you back in a couple of hrs? I said sure.

She didn't say NO or YES, but immediately said our team will call you back. The web chat lasted less than 1 minute.

Their promo team then called me back in 90 minutes and gave me 3 % for 180 days, the call was less than 2 minutes.

November 7, 2018
7:26 am
moneyhelp
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rfdm4g4g9 said
Chatted with a Tangerine rep online, told them about Simpllii's 3.15 % rate.

She immediately told me, I will get our promo team to call you back and see, what they can do. I said sure, and she said is it OK, if they call you back in a couple of hrs? I said sure.

She didn't say NO or YES, but immediately said our team will call you back. The web chat lasted less than 1 minute.

Their promo team then called me back in 90 minutes and gave me 3 % for 180 days, the call was less than 2 minutes.  

2 Questions:

1) Was your current promo rate the one ending this November 30th? (I am, the 2.5% until Nov/30th).
In other words, trying to see if you were in a current promo if they offered this or will they only offer it if you're currently NOT in a promo period.

2) I'm wondering if they made this "exception" if your dollar amount is in the 6 figures and those of us with 5 figures may not be enough to sway them.

Cheers.

November 7, 2018
9:52 am
Rob59
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I have 6 figures earning the 2.5% promo until Dec 31. I called last night enquiring whether I could get the 3% offer and after being put on hold for a short while I was informed I couldn't. It was suggested (I think) that it was partly because I wasn't getting the promo rate on my full balance. (I had 5 bucks in the account when I moved the net new monies in in February!) Just a little irritating, although I'd already instigated a transfer of some funds for the Simplii 3.15% offer (thanks for the heads up folks), and after the call I moved some more over to EQ to eventually purchase their 3.33% GIC (thanks again!). After I get the last cash back deposit from my Tang credit card in December I'll drain the account and see what offer the new year holds.

November 7, 2018
11:11 am
Loonie
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We just negotiated a rate match at Tangerine with the Simplii offer for both of us. Same rate, same term as Simplii. Did not require a callback.

We were initially offered 3% for 6 months but asked for better. We felt more interest for four months was a better deal under current circumstances. I hope we're right!

There was no talk of regular vs promo rate, so perhaps this will all come in on the last day of the month?

November 7, 2018
5:34 pm
murph
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Just phoned in on their regular line and asked them to match what I would get at Simplii. The rep checked with her manager, came back on the line a minute later and said she could give me 3% but wasn't sure if it was 3 or 6 mos. and was going to check with her manager again.
She dropped the phone again and in a few moments came back on the line with an even better offer matching Simplii's offer of 3.15% for 4mos. I accepted. This replaced the 2.5% offer that was to expire Dec16/18.
The rep was very polite and courteous. No haggling or yelling required.
Murph

November 7, 2018
7:01 pm
Bill
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Rob59, I always call during the day - I figure all the folks with the authority to give offers are there then, maybe not so much on the night shift.

November 7, 2018
8:02 pm
rfdm4g4g9
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moneyhelp said

2 Questions:

1) Was your current promo rate the one ending this November 30th? (I am, the 2.5% until Nov/30th).
In other words, trying to see if you were in a current promo if they offered this or will they only offer it if you're currently NOT in a promo period.

2) I'm wondering if they made this "exception" if your dollar amount is in the 6 figures and those of us with 5 figures may not be enough to sway them.

Cheers.  

Yes..both

Was already on 2.5 % but ending on Nov 30 and 6 figures.

Upto Nov 7, I will still get the 2.5 % and from Nov 8 onwards I will get the 3 %.

2.5 % offer which was ending on Nov 30 was for net new deposits, but the new 3% offer which they gave me in the middle of my already existing 2.5 % promo is for Entire balance, both existing balance and any new money I bring in.

November 7, 2018
8:12 pm
rfdm4g4g9
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Loonie said
We just negotiated a rate match at Tangerine with the Simplii offer for both of us. Same rate, same term as Simplii. Did not require a callback.

We were initially offered 3% for 6 months but asked for better. We felt more interest for four months was a better deal under current circumstances. I hope we're right!

There was no talk of regular vs promo rate, so perhaps this will all come in on the last day of the month?  

Yes it will come on the last day of the month and first day of the following month, even though they didn't mention the reg v/s promo rate.

Nov 30 - Regular Interest will be posted
Dec 1 - Promo bonus interest will be posted

And so on for the rest of the months.

Yes 3.15 % for 4 months is better than 3% for 6 months in todays environment.

I took 3 % for 6 months as I don't want to deal with them for the next 6 months. Lot of time and energy is wasted going back and forth with them and playing their silly games.

November 7, 2018
8:32 pm
Loonie
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Thanks, rfdm4g4g9, for the details.

I agree that it's a pain to call them any more than necessary, but this one was relatively painless, no arguing or talking to supervisors required. Also, I get my spouse, who minds it far less than I, to make the initial call, then I chime in at the end of the conversation when it has become easier, to make sure I get my deal too.sf-smile

November 8, 2018
5:27 am
gamgam
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Loonie said
We just negotiated a rate match at Tangerine with the Simplii offer for both of us. Same rate, same term as Simplii. Did not require a callback.

We were initially offered 3% for 6 months but asked for better. We felt more interest for four months was a better deal under current circumstances. I hope we're right!

There was no talk of regular vs promo rate, so perhaps this will all come in on the last day of the month?  

Just curious as to which phone number you used? Thanks

November 8, 2018
7:19 am
rfdm4g4g9
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Tangerine Limited Time Interest Offer Terms & Conditions
General:

1. The Tangerine Bank (the "Bank") Limited Time Interest Offer of 3.00% (the "Offer") is available to existing Tangerine Clients who receive notification that they are eligible for the Offer from a Tangerine Contact Centre Associate and who verbally accept the Offer ("Eligible Clients"). The Offer is available to Eligible Clients on all eligible deposits for a period of 180 days from the date they accept the Offer (the "Promotion Period") to a maximum of $500,000 in deposits to all Tangerine Savings Accounts combined (CDN dollar, non-registered Accounts only; herein referred to as "Applicable Accounts") where the Eligible Client is the Primary Account Holder as described in section 9 below. It is not applicable on any other Account types, including (but not limited to) the Tangerine RSP Savings Account, Tangerine Tax-Free Savings Account, Tangerine RIF Savings Account, Tangerine US$ Savings Account, Tangerine Business Savings Account, Tangerine US$ Business Savings Account, or Tangerine Children's Savings Account.

Additional Interest:

2. "Additional Interest" is 1.75%. Additional Interest is added to the applicable posted rate of interest listed on the Bank's website (the "Posted Rate") to calculate the total amount of interest payable under this Offer. (For example, if the Posted Rate were 1.05% and the Additional Interest were 0.45% then: Posted Rate of 1.05% + Additional Interest of 0.45% = Offer of 1.50%). Any change to the Posted Rate will result in a corresponding change to the Offer. Additional Interest and/or Posted Rates may change at any time without prior notice. Eligible Clients will receive the Offer in two separate interest payments, one based on the Posted Rate and a second based on the Additional Interest rate.

3. Subject to the limits and qualifications outlined in these Terms and Conditions, Additional Interest will be calculated daily and paid monthly during the Promotion Period in Applicable Accounts.

4. After the 180 day Promotion Period ends, all balances will earn interest at the Posted Rate payable on the Applicable Account(s).

5. The Offer will be automatically applied to all existing Applicable Accounts that the Eligible Client has when the Promotion Period begins, and any subsequent Applicable Accounts opened by the Eligible Client during the Promotion Period will also earn Additional Interest. The Offer will end on the same date for all Applicable Accounts.

6. Additional Interest will be paid on the first $500,000 of deposits in Applicable Accounts. This is a combined total across all of the Client's Applicable Accounts. Any balances greater than $500,000 will earn interest at the applicable Posted Rate of interest payable.

7. Interest is calculated daily and paid monthly for both the Posted Rate interest payments and the Additional Interest payments. Additional Interest will not be paid and will not be payable until the start of the month following the month in which it was calculated, and the calculation for that month will not include interest on top of Posted Rate interest for the previous day (Example: If the month ends on July 31 the Bank's applicable Posted Rate of interest will be paid to that Applicable Account on July 31, and any Additional Interest will be paid to that Applicable Account the next day on August 1. Both Additional Interest and Posted Rate interest payments will be calculated based on the same balance for the month of July, despite the fact that the Posted Rate interest is paid on July 31, one day before the Additional Interest is paid.). Any Applicable Account closed prior to the payment of Additional Interest will forfeit any Additional Interest calculated during the month in which the Applicable Account is closed.

Eligibility:

8. This Offer is non-transferable and only for Eligible Clients. Clients who receive the Offer and/or these Terms and Conditions from any source other than the Bank, and who are not Eligible Clients as described in Section 1 above, will not be eligible for this Offer.

9. The Offer is only applicable to Applicable Accounts where the Eligible Client is the person whose name appears first on the Bank statement (the "Primary Account Holder"). For Applicable Accounts where an Eligible Client is not the Primary Account Holder (Example: the Eligible Client is not the Primary Account Holder on a joint Account and is listed second on the statement for that Account), the Offer will not be applied to that particular Account. Where money is transferred from an Account where the Eligible Client is listed second on the statement to an Applicable Account where the Eligible Client is the Primary Account Holder, that transfer will be eligible for Additional Interest.

Limitations:

10. This Offer cannot be combined with other promotional rate offers. Where an Eligible Client qualifies for more than one promotional rate offer from the Bank, and the Eligible Client accepts this Offer, this Offer will be applied to the Eligible Client's Applicable Account(s) to the exclusion of any other promotional rate offer unless otherwise arranged.

11. The Bank reserves the right at its absolute discretion to vary, delete or add to any of these Terms and Conditions from time to time without prior notice.

12. If the Bank is unable to run the Offer as planned for any reason, including infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes beyond the reasonable control of the Bank which corrupt or affect the administration, security or proper conduct of this Offer, the Bank reserves the right at its sole discretion to, without advance notice, terminate or suspend the Offer, in whole or in part, or modify it in any way.

13. The Bank reserves the right to withdraw the Offer in whole or in part, or to vary any of these Terms and Conditions at any time and from time to time without notice at its absolute discretion. The Bank reserves the right to end the Offer earlier or to extend the Promotion Period further at its absolute discretion.

14. The Bank reserves the right, at its sole discretion, to suspend, disqualify, limit or revoke this Offer to any Account holder it finds or believes to be manipulating or otherwise abusing the process, fairness, or integrity of the Offer.

15. This Offer may be suspended, modified or withdrawn at any time without notice for any reason including, but not limited to, an error or mistake on behalf of the Bank.

16. To the extent that these Terms and Conditions are inconsistent with any other communication, advertisement, promotional material or statement, whether written or oral, (collectively a "Message") from the Bank, these Terms and Conditions will supersede all other Messages.

17. You agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice offered by us with respect to this Offer is deemed to be provided on the day it is posted on our website.

Last updated on July 28, 2018

November 8, 2018
8:11 am
Kidd
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Rfdm. Wow... is there a coles notes version?

Tangerine has changed #1, as for the rest... i don't know. $1,000,000 is the new deposit norm tangerine uses AND if asked, they will go well beyond that million dollar mark.tnt-frustrated.png

Added edit.

https://www.tangerine.ca/en/landing-page/save-money/termsandconditions/index.html

November 8, 2018
8:54 am
Loonie
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gangam, We used the regular customer service number.

November 8, 2018
10:07 am
gamgam
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Called 1-888-826-4374 with no success. No offer at all. Asked while on online chat, was offered 2.5% for 6 maths. Not interested. They forwarded my request to match Simplii to another dept. Have to wait 2-3 days for a call?

November 8, 2018
3:24 pm
Patch002
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In my case, I asked for a matching rate (3.15% at Simplii and Meridian) and inform Tang. that if I cannot get that rate then I will be moving my money out. They usually say no. I move my money out. They may or may not come back with an offer, but I don't care as I am not in the habit of rewarding bad behaviour. I am puzzled that Tang. would spend so much time & effort to attract new customers (with an attractive rate) yet spend minimal effort at retaining existing customers. I once read a book which stated "don't be grateful for what the bank is offering" but ask "what can you (bank) do for me in order to have my money deposited there".

November 8, 2018
4:45 pm
Alexandre
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I am on Tangerine 2.5% offer till November 30. Called their regular 1-888 line today, November 8, during business hours afternoon. Got nice rep, asked her for 3% for 6 months for my savings account, which currently has close to CDIC insured maximum in it.

She went with me through their standard stuff: suggested 1 year 3.1% GIC, for which I replied I'd like to have money readily available in case of emergency. Mentioned that 3% offer is for new customers - for which I replied that there is different offer for existent customers.

Then, she told me she'll talk to her manager and put me on hold for about 5 minutes. On return, she told me that I'll have 3% for 6 months. Also noted it'll take up to 2 business days to have it reflected in my account.

November 10, 2018
2:13 pm
Alexandre
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Alexandre said
...
Then, she told me she'll talk to her manager and put me on hold for about 5 minutes. On return, she told me that I'll have 3% for 6 months. Also noted it'll take up to 2 business days to have it reflected in my account.  

Was checking my account frequently, and last hour (on Saturday afternoon!) the new rate has been applied to my saving account.
Will have it till May 8, 2019.

New-3-percent-rate.JPG

November 10, 2018
3:28 pm
Rob59
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Bill said
Rob59, I always call during the day - I figure all the folks with the authority to give offers are there then, maybe not so much on the night shift.  

Didn't even think about that Bill, thanks for the idea. I'll definitely call during the day next time.

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