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Tangerine will match Motive's 3.0% on Savings
July 20, 2022
9:37 am
toto
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Im on the 2.6 offer but called and no problem changing it to 3 percent. Thanks bloggers for the heads up !

July 20, 2022
10:25 am
MG
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I am on the 2.25% offer at Tangerine and I also just called in. The highest they would go was 2.6% for 150 days. I politely declined and am spreading my funds amongst Motive, Hubert and DUCA. I will also do a couple small 1 year GICs, which I typically do not do.

July 20, 2022
11:59 am
AdrenalineTrade
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I can't quite figure out their tactics. In the past I have called in and essentially been told to pound sand. Yesterday, however, I was only on hold for 30 seconds before the customer service agent came back on and said it was no problem to give me the 3% until Dec 15, 2022. I also parked some cash in a one year 4.25% GIC.

July 20, 2022
12:30 pm
blahuenga
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Dean said
.
I also gave up on the 'Tangerine Tango' ... I don't Dance with them anymore.

For Short-Term, Hubert's special 1Yr GIC is now my Fave

And if needed, you can get yer money outa there, anytime you want. sf-smile

    Dean

  

Damn, that's awesome. Totally doing that.

July 20, 2022
1:37 pm
COIN
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AdrenalineTrade said
I can't quite figure out their tactics. In the past I have called in and essentially been told to pound sand.  

One never knows with Tang. A week, a month, 3 months from now they might tell you to go pound sand again.

July 20, 2022
2:41 pm
rhvic
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I am currently on the 2.80% rate until August 31 (CAD HISA only, not US$). I phoned and asked if they would match the 3% at Motive - NOPE, all they would do is offer me 2.85% - a 'whopping' 0.05% increase. I declined. Tangerine really knows how to insult their clients!

July 20, 2022
2:47 pm
dougjp
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This unequal treatment at the same time and same circumstances is a customer relations disaster for Tangerine, even more than if they offered a worse rate, IMO.

" We may never pass this way again " - Seals & Crofts

July 20, 2022
3:34 pm
piggybank
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Dean said
.
I also gave up on the 'Tangerine Tango' ... I don't Dance with them anymore.

For Short-Term, Hubert's special 1Yr GIC is now my Fave

I have a question about this.

The good news? You’re not locked in for the entire year — you can redeem your term after three, six, or nine months (and keep the interest that’s already been paid to you). The even better news? If you keep your funds in place for the entire year, you’ll earn an average rate of 4.10%* for the year (with compounded interest). Not too shabby, is it? Here’s what you will earn:

The first three months: 3.95%*
Months four to six: 4.05%*
Months seven to nine: 4.15%*
The last three months: 4.25%*

Does this mean if I pull it on day 30, I still get the 3.95? Because if that's the case, there's no reason to keep my money in a regular savings account.

July 20, 2022
4:16 pm
Loonie
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This is the same question you asked in another thread. https://www.highinterestsavings.ca/forum/hubert-financial/what-happens-if-you-take-your-money-out-of-a-one-year-gic-before-you-reach-3-months-do-you-still-enjoy-the-3-month-interest-rate/#p75715
Please ask your question once only as that is part of the rules of this forum and reduces clutter.

July 20, 2022
8:02 pm
Canuck
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dougjp said
This unequal treatment at the same time and same circumstances is a customer relations disaster for Tangerine, even more than if they offered a worse rate, IMO.  

I go back and forth on this. I think that a good middle ground would be for them to offer their best rate to customers who call them up and ask for it. This way, those of us who pay attention to what's going on with the rates and who put in the extra work can get the best rate that they're offering. If they want to further restrict it based on minimum amount in the relevant savings accounts and/or based on how long someone has been a customer (longer is better), then that might be okay too, as long as the same policy applies to everyone. But yeah, unequal treatment under similar circumstances is very frustrating, especially when long-time customers get the shaft.

July 20, 2022
8:03 pm
Canuck
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I am currently on a 2.8% promotion which expires on July 31. I am using this for my TFSA account.

If I call Tangerine and they offer me 3%, will it apply to my TFSA account? Or will it only apply to non-registered savings accounts?

Thanks in advance.

July 21, 2022
12:44 am
iotama
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I find this a depressing thread.

So essentially Tangerine appears to have even outsourced their offers to their customers to work out... for the clients to call and beg them... so that only the squeaky wheels get greased.

It's a vicious cycle isn't it. By accepting their matched offer, we are actually encouraging this practice... because we'd rather have the convenience of not moving funds to a different FI. But who is to blame? 🙁

HISA hunger games or HISA Squid Game and it's the big fat banker who is the ultimate winner as always 😀

July 21, 2022
12:55 am
Loonie
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iotama said
I find this a depressing thread.

So essentially Tangerine appears to have even outsourced their offers to their customers to work out... for the clients to call and beg them... so that only the squeaky wheels get greased.

It's a vicious cycle isn't it. By accepting their matched offer, we are actually encouraging this practice... because we'd rather have the convenience of not moving funds to a different FI. But who is to blame? 🙁  

You only have to move your money out once, and you can be done with them. I did.sf-smile
My banking life has been less stressful since then.

Spouse decided to keep an account, so we can use that if needed for some obscure reason, but we haven't found a need, and it's bee over a year. Spouse got the 3% offer a week or so ago as a pop-up, and regarded it as a nuisance interruption.

July 21, 2022
3:09 am
HermanH
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Called Tang to ask for the 3% promo to match Motive and they told me that no such thing existed. No luck for me. sf-frown

July 21, 2022
3:05 pm
calderbennett
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iotama said
I find this a depressing thread.

So essentially Tangerine appears to have even outsourced their offers to their customers to work out... for the clients to call and beg them... so that only the squeaky wheels get greased.

It's a vicious cycle isn't it. By accepting their matched offer, we are actually encouraging this practice... because we'd rather have the convenience of not moving funds to a different FI. But who is to blame? 🙁

HISA hunger games or HISA Squid Game and it's the big fat banker who is the ultimate winner as always 😀  

I'm on a 2.2% special offer to November 30th. Called yesterday and was told to pound sand. Explained I'd be moving most of my account to Motive, but nothing could budge their position. So I transferred $20k with a few keystrokes and told them what I thought of their inconsistent customer relations when I filled out their follow-up "satisfaction" survey. I don't find moving $$ back and forth inconvenient. I'm retired and this latest move earns me an extra $50 or so by my calculation. Yes, that's before taxes.....but I don't actually mind paying taxes, either.

July 24, 2022
7:10 am
frugal lady
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I'm on 2.8% offer until July 31st. Called today to make a transfer out exceeding daily limit. Offered me 2.85% for 150 days on all balances. Would not match Motive at 3.0%. I declined their offer.

July 24, 2022
7:53 am
dougjp
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Bizarre, all over the map results when in contact with them on the subject of promotional rates, as reported by everyone here. Same thing happened in the past too, I recall.

Doesn't sound like banking to me. Begs the question, as there doesn't seem to be anything dictated to the employees, are call center employees free to make "deals" without direction, ie; is there some sort of commission "deal" for reducing what rate is given out, if funds are retained?

" We may never pass this way again " - Seals & Crofts

July 24, 2022
10:11 am
JohnnyCash
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dougjp said
Bizarre, all over the map results when in contact with them on the subject of promotional rates, as reported by everyone here. Same thing happened in the past too, I recall.

Doesn't sound like banking to me. Begs the question, as there doesn't seem to be anything dictated to the employees, are call center employees free to make "deals" without direction, ie; is there some sort of commission "deal" for reducing what rate is given out, if funds are retained?  

Tangerine is living up to their reputation of putting all their customers into a lottery pool driven by an mysterious internal algorithm that determines what a client is to be offered. I don't believe their reps have any say in the matter and are likely looking at client profiles which have predetermined offers already set. Many applicants for their credit card experience the same thing, rejections for applicants with excellent credit history and sufficient income relative to existing credit. What would normally be an approval on the different issuers card is declined and approvals given out to students and homemakers with no income.

July 24, 2022
10:24 am
Bill
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Last time I called the rep upped the offer after I thanked him for the initial offer but said it wouldn't keep my money there. So there's some rep latitude, at least sometimes. I'm guessing it's driven by AI, probably changing from moment to moment, even for same person, depending on outflows and inflows of funds, etc at that moment.

I enjoy calling them, been a profitable exercise, mostly.

July 24, 2022
11:47 am
Norman1
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Tangerine has acknowledged, through their ombudsman, that randomness is part of the selection criteria. Someone filed a complaint a while back and that was in the reply.

One is not always going to receive the best "unofficial" offer available because of randomness.

The reply indicates the offers are marketing promotions. I suspect there just isn't the marketing budget to give the best offer to everyone who calls in and asks.

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