Targeted 2.8% on new money, April 3 to August 31, 2020 | Page 3 | Tangerine Bank | Discussion forum

Please consider registering
guest

sp_LogInOut Log In sp_Registration Register

Register | Lost password?
Advanced Search

— Forum Scope —




— Match —





— Forum Options —





Minimum search word length is 3 characters - maximum search word length is 84 characters

No permission to create posts
sp_Feed Topic RSS sp_TopicIcon
Targeted 2.8% on new money, April 3 to August 31, 2020
May 1, 2020
2:02 pm
rhvic
Victoria, BC
Member
Members
Forum Posts: 392
Member Since:
May 28, 2013
sp_UserOfflineSmall Offline

Curious - I had received no communications from Tangerine about my 2.5% rate which ended on April 30, but when I went to look today at the terms of that offer which started in November, they had already unilaterally extended it to July 31! And they will still use the bank balances of last November 4 to determine what is 'new money'. So, my money stays with Tang for another 3 months. And right now, Tang is the best place I can find to park US$, which also earn the 2.5% rate.

May 1, 2020
2:17 pm
chamnic
Member
Members
Forum Posts: 17
Member Since:
December 18, 2018
sp_UserOfflineSmall Offline

Got 2.5% offer today until July 31rst 2020, for any money (new or existing).

I actually received the notice ahead of time, on april 23 saying the 2.5% offer would be coming on May 1rst.

May 1, 2020
5:03 pm
smayer97
Member
Members
Forum Posts: 448
Member Since:
September 29, 2017
sp_UserOfflineSmall Offline

I just checked and received the 2.5% rate for ALL savings accounts, including USD (WOW) but my wife did not. The rate offer is from May 1 to Sep 30, 2020.

May 2, 2020
6:47 am
savemoresaveoften
Member
Members
Forum Posts: 689
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

I had 2.5% expired Apr30. Never activate that one. Rec 2.5% till Sep30 for new deposits. This time it includes the US savings too (which I had promotions before but not the last one which I chatted and complain about it).
It definitely feels like declining their offers (when its shitty) increases your chance of getting new offers with better terms may be
This lines up well with Simplii 2.8% which ends Apr30 and they wont budge offering me anything at all, even tho they extend 2.8% to "selective" client.

May 2, 2020
2:01 pm
Alexandra
British Columbia
Member
Members
Forum Posts: 228
Member Since:
September 24, 2019
sp_UserOfflineSmall Offline

I also got offer of the 2.5% from 01May2020-30Sept2020 on new money. I was on to them this time. So I transferred all the money out of my savings with them to Oaken a few days ago then transferred it back with more to Tangerine today. Otherwise, the funds in there on April 30th would have only got .3%.

Unfortunately, the only "savings" type account they are not giving the 2.5% is on RIF savings accounts.

I see they are still offering 2.8% for new clients.

May 3, 2020
7:37 am
chamnic
Member
Members
Forum Posts: 17
Member Since:
December 18, 2018
sp_UserOfflineSmall Offline

Many people seem to be getting 2.5% from May 1rst till sept 30th, I only got it until July 31rst sf-frown

I hate Tangerine sometime ...

May 3, 2020
8:03 am
MG
Member
Members
Forum Posts: 164
Member Since:
February 16, 2013
sp_UserOfflineSmall Offline

chamnic said
Many people seem to be getting 2.5% from May 1rst till sept 30th, I only got it until July 31rst sf-frown

 

Hi Chamnic,
You are not alone. I got the same offer. Better than nothing, right?

May 3, 2020
8:08 am
Peter
Admin
Forum Posts: 1237
Member Since:
May 15, 2007
sp_UserOfflineSmall Offline

My offer expired on April 30 and I did not receive a new offer.

May 3, 2020
10:21 am
pooreva
Member
Members
Forum Posts: 277
Member Since:
April 2, 2018
sp_UserOfflineSmall Offline

Mine expires on May 31. Money will go out in anticipation of 2.8% offer.

May 6, 2020
9:00 am
ann
Newbie
Members
Forum Posts: 1
Member Since:
May 6, 2020
sp_UserOfflineSmall Offline

I have a checking account with Tangerine. I asked for the rate 2.8% but they said the promo does not apply to TFSA and must be a new customer? Is it right? Thanks

May 6, 2020
10:56 am
Norman1
Member
Members
Forum Posts: 4283
Member Since:
April 6, 2013
sp_UserOfflineSmall Offline

That depends on the offer.

There are at least three different Tangerine offers:

  1. 2.80% for 5 months for any new clients who join and open first savings account by July 30.
  2. 2.50% until July 31 on all money for certain targeted clients.
  3. 2.80% on new money until August 31 for certain targeted clients.
May 6, 2020
11:34 am
smayer97
Member
Members
Forum Posts: 448
Member Since:
September 29, 2017
sp_UserOfflineSmall Offline

4. Another offer is 2.5% on most savings accounts, including USD, TFSA, & RSP, for SELECT / TARGETED clients, from May 1 to Sep 30.

May 6, 2020
11:43 am
Vatox
Member
Members
Forum Posts: 956
Member Since:
October 29, 2017
sp_UserOfflineSmall Offline

smayer97 said
4. Another offer is 2.5% on most savings accounts, including USD, for SELECT / TARGETED clients, from May 2 to Sep 30.  

Hopefully something similar to that on June 01 when my existing offer ends.

August 31, 2020
8:51 am
GreatWhiteNorth
Member
Members
Forum Posts: 32
Member Since:
March 21, 2017
sp_UserOfflineSmall Offline

Good while it lasted, bye bye Tang & your 0.2% 🙂

August 31, 2020
9:19 am
AltaRed
Member
Members
Forum Posts: 1477
Member Since:
October 27, 2013
sp_UserOfflineSmall Offline

FWIW, big banks can borrow at 0.1-0.2%. No reason for Tangerine to pay more. Simplii is in a similar situation.

I think they play the promo games as a study in customer psychology. May help in building algorithms.

August 31, 2020
10:01 am
Vatox
Member
Members
Forum Posts: 956
Member Since:
October 29, 2017
sp_UserOfflineSmall Offline

GreatWhiteNorth said
Good while it lasted, bye bye Tang & your 0.2% 🙂  

Yep, I’ve been a client since the ING Direct days, but now my money has moved out. There has been pretty low savings interest before (0.8%), but the GICs were decent so I just bought them and left minimal money in the savings. But now everything stinks!

Edit: this the first time, ever, that I’ve only had a couple dollars, total, across all my Tang accounts!

September 3, 2020
6:59 am
Heddie
Member
Members
Forum Posts: 9
Member Since:
May 9, 2012
sp_UserOfflineSmall Offline

AltaRed said
I think they play the promo games as a study in customer psychology. May help in building algorithms.  

It will be interesting to see if Tangerine sends future rate offers to those of us that moved money in and then out only for this 2.8% offer.

September 3, 2020
12:08 pm
AltaRed
Member
Members
Forum Posts: 1477
Member Since:
October 27, 2013
sp_UserOfflineSmall Offline

There is no reason for Tang or anyone else to offer 3-4-5 month promos for more than the current 'competitive' HISA rate, e.g. circa 1.5-1.8%. People likely already know how HISA rates have trended down the last 3 months.

September 3, 2020
12:26 pm
GreatWhiteNorth
Member
Members
Forum Posts: 32
Member Since:
March 21, 2017
sp_UserOfflineSmall Offline

AltaRed said
There is no reason for Tang or anyone else to offer 3-4-5 month promos for more than the current 'competitive' HISA rate, e.g. circa 1.5-1.8%. People likely already know how HISA rates have trended down the last 3 months.  

Apparently there is 🙂 ... they've been doing it for # years, just targeted, not open to everyone.

September 3, 2020
1:39 pm
Righand
Member
Members
Forum Posts: 82
Member Since:
December 15, 2016
sp_UserOfflineSmall Offline

AltaRed said
There is no reason for Tang or anyone else to offer 3-4-5 month promos for more than the current 'competitive' HISA rate, e.g. circa 1.5-1.8%. People likely already know how HISA rates have trended down the last 3 months.  

Perhaps you should send TING a note and advise them to quit offering new clients 2.5% and give them 1.5% instead?sf-laugh

No reason you say ?? Imo, there are also other reasons that they keep on playing their silly games that we and you are unaware of.

No permission to create posts

Please write your comments in the forum.