I did remove the bonus interest from my calculations, just in case, but there was still a difference between calculated and received; however, in looking back through my spreadsheet, my balance had dropped below my Aug 25 closing balance - the snapshot balance for this promotion. I had failed to work that fact into my calculations. Oops.

jorno319 said
Here is a question for those who are participating in this offer:

Is your "Promotional Bonus Interest" for September correct?

There is a tiny difference between the amount I received and the amount I calculated. The itchy part of my brain is trying to figure out where the difference lies.

Thanks.  

I believe the small difference is due to Tangerine not paying bonus interest rate on bonus interest earned previous months.

Is your "Promotional Bonus Interest" for September correct?

There is a tiny difference between the amount I received and the amount I calculated. The itchy part of my brain is trying to figure out where the difference lies.

Thanks.

As for my self, I much prefer the 'Numeric Keypad' method ... it's Easy & Fast, and gets the job done with no issues (@ Tangerine & elsewhere).

Whatever works, eh❗

Dean

Anyway, I do not know why the voice says the digits so quickly - only at Tangerine, not the other FIs.

I too find the numeric keypad much easier (and faster) to use, than the number keys on top of the main keyboard.

Dean

1.) I've only had one dead call from them, and that was about 6 months ago.

2.) If we can't understand the spoken code the first time, we are given an option to have it repeated (which I've never had to use).

To each, their own.

Dean

Two issues with their TFA, which I am wondering if others have problems with.

1. About half the time, the call from Tang ends up as a dead call - I say hello, but no response from Tang; the line just goes dead. So I have to try again. And sometimes again!

2. When the female robotic voice does respond, it rattles off the 6 digit code so quickly that it is hard to keep up. (other FIs I deal with are much slower in relating the code) I wish they would slow down!

This makes it a real chore to sign into Tang!

Dean

These are marketing exercises. Tangerine Bank's parent, Bank of Nova Scotia, has a AA DBRS debt rating. It doesn't need to pay junk bond rates, direct or indirectly, for short term deposits.

There's likely a marketing budget for a certain number of 3.9% offers and a certain number of 4.5% offers. The offers are randomly distributed to some in a pool of customers who have shown interest in such unadvertised offers.

One person filed a complaint a while back about these unadvertised targeted offers. The bank explained that there is randomness in how the offers are given out.

Alexandre said

Probably some algorithm where bank enters "Amount of new money we want to raise" and it plays with interest rates until funds goal is achieved. Maybe even some sort of AI.

I had 4.0% promo which ended on August 31st. I promptly moved my funds out by the end of August. You just got 3.9% promo starting in September. If you deposit funds, it is win-win situation for you (really nice HISA rate) and for bank (have to pay 0.1% interest less to you vs. they paid me).  

Same here, but got no new offer on Sept. 5th as other folks. The guess is that they target for large balances.

whyz said
Tangerine has removed the option to manually create a link to an external account.
It was replaced with Plaid.

I tried linking an account from FI that is not known to Plaid/Flinks, on EQ and on Tangerine web sites.
EQ flatly refused, telling to call customer support. Tangerine switched me to manual method and allowed to link account with their old microdeposits method.

I like Tangerine approach better. It is also better for Tangerine, because calls to customer support are expensive.