Targeted offer - 5.5% on new money from Jul 4th till Nov 30th, 2023 | Tangerine Bank | Discussion forum

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Targeted offer - 5.5% on new money from Jul 4th till Nov 30th, 2023
July 4, 2023
5:08 am
hwyc
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July on-line only targeted offer is out. Good luck to all!

From Jul 4th until Nov 30th, 2023, earn 5.50% on new deposits over total balance(s) calculated on July 3rd.

Activation required by July 31st

July 4, 2023
9:02 am
kesa
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Screenshot-2023-07-04-at-12.01.41-PM.png

ok then.

July 4, 2023
10:30 am
Warwick111
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I also saw this offer on my insights when I logged in today. No email from Tangerine though.

July 4, 2023
10:48 am
cgouimet
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We're on a 5.0% from Dec and a 5.25% since Mar, both thru Jul. I'll be pulling the $ out late this month. Perhaps one or both will be extended again or perhaps 1 or 2 even better offer(s)...

CGO
July 4, 2023
10:58 am
Norman1
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Same here. I saw the offer among my insights before any e-mail notification. However, I did receive a confirmation e-mail after I activated.

July 4, 2023
11:05 am
Norman1
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Some of the fine print of the offer:

3. The Offer is only applicable to Tangerine Savings Accounts (“Savings”), Tangerine Tax-Free Savings Accounts (“TFSA Savings”), Tangerine RSP Savings Accounts (“RSP Savings”), and Tangerine US$ Savings Accounts (“US$ Savings) (referred to collectively as “Applicable Accounts”) where the Eligible Client is the Primary Account Holder as described in Section 13 below. Multiple Applicable Accounts of the same type (for example, three separate TFSA Savings Accounts) are collectively defined as an “Applicable Account Type”. The Offer is not applicable to any other Accounts, including (but not limited to) Tangerine RIF Savings Accounts (“RIF Savings”), Tangerine Business Savings Accounts, Tangerine US$ Business Savings Accounts, or Tangerine Children’s Savings Accounts (“CSA”).

5. “Promotional Interest” is the interest earned on Eligible Deposits made to Applicable Accounts each day during the Offer Period. “Eligible Deposits” for any day during the Offer Period is the excess of (i) the sum of end-of-day balances in all Applicable Accounts per Applicable Account Type (excluding Promotional Interest) over (ii) the sum of end-of-day balances in all Applicable Accounts per Applicable Account Type as at July 3, 2023, to a maximum of $1,000,000 (in the currency of the Applicable Account), subject to the exclusions in Section 10 below.

8. A Promotional Interest Rate of 5.50% will apply to Eligible Deposits under this Offer. Eligible Clients will receive Promotional Interest in two separate interest payments: (1) interest calculated at the Posted Rate, (2) an additional interest payment that represents the excess of Promotional Interest over Posted Rate interest (“Additional Interest”). For clarity, Promotional Interest equals the sum of Posted Rate interest and Additional Interest. Payment of Additional Interest will be made to the Applicable Account at the start of the month following the month in which it was calculated. The Posted Rate may change at any time without prior notice, resulting in a corresponding change to the Additional Interest rate so that the Promotional Interest Rate remains unchanged. Notwithstanding the above, the Bank may change the Promotional Interest Rate at any time without prior notice.

Exclusions

10. Notwithstanding the above, the following are examples of the types of transactions that won’t qualify as Eligible Deposits and therefore won’t earn Promotional Interest:

  1. Transfers or money deposited to a RIF Savings, CSA, Business Savings Account, or US$ Business Savings Account.
  2. Money transferred from a Bank GIC, Investment Fund or Line of Credit to an Applicable Account.
  3. Transfers made to any new RSP Savings Account from an existing RSP Savings Account or RSP GIC resulting in no change to the total Applicable Account balances in RSP Savings from July 3, 2023.
  4. Money deposited to an RSP Savings Account and then transferred to an RSP GIC resulting in no change to the total Applicable Account balances in RSP Savings from July 3, 2023.
  5. Transfers made to any new TFSA Savings Account from an existing TFSA Savings Account or TFSA GIC resulting in no change to the total Applicable Account balances in TFSA Savings from July 3, 2023.
  6. Money deposited to a TFSA Savings Account and then transferred to a TFSA GIC resulting in no change to the total Applicable Account balances in TFSA Savings from July 3, 2023.
  7. Money transferred from an RSP, TFSA or RIF Account to any Applicable Account.
  8. Money transferred from a CSA to an Applicable Account.
  9. Direct or indirect transfers from Tangerine Business Savings Accounts and Tangerine US$ Business Savings Accounts to Applicable Accounts.
July 4, 2023
11:41 am
mustang
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Yes, no email, but it popped right up, immediately after login. (Didn't even need to go insights).
And, it's applicable to USD, as well
Woo Hoo!
(Also got immediate email confirmation)

July 4, 2023
12:41 pm
COIN
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No heads up email. The offer was only in Insights.

Got confirmation email and also shows in setting.

July 4, 2023
3:32 pm
Norman1
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An e-mail arrived:
5.5% offer banner
Looks like the web site was updated first and the e-mails were still being sent. sf-laugh

July 4, 2023
3:39 pm
cgouimet
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Is everyone getting this as a new offer or are some getting this as an extension of an existing one?

CGO
July 4, 2023
4:12 pm
suburbs4life
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I just got this offer. Anyone know how these promo rules apply to joint accounts? Recently, I moved funds well before the start date for this offer to a joint account where I am not the primary account holder. I never got the promo interest but the other joint account holder did after this. It appeared like this money was considered new money from tang. I’d rather not wait a month to see if anything is paid out or not but it appears like that’s my only option. Any insights ?

July 4, 2023
4:53 pm
mustang
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If you Activate, then click on Account Details, it will show you the rate you are getting

July 4, 2023
4:59 pm
COIN
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I deposited a physical cheque at my local BNS ATM.

Does anyone know if the BNS ATM's still have a $99,999 limit per deposit?

Update: I did get an email notification at 6:20PM but I had already accepted the offer from Insight at around 2PM. Should I also activate the email offer?

July 4, 2023
5:10 pm
suburbs4life
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mustang said
If you Activate, then click on Account Details, it will show you the rate you are getting  

My concern is more so will the “balance” be considered new from the other joint account after today as per Tangs terms. Was just wondering if anyone else had been in a similar situation and what the outcome was. I figured i cant be alone in this situation.

July 4, 2023
5:22 pm
Bill
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My experience in the past is moving money from one joint account (I'm primary) to another (I'm not primary), and vice-versa, counts as new money in the receiving joint account.

July 4, 2023
5:51 pm
cgouimet
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suburbs4life said

My concern is more so will the “balance” be considered new from the other joint account after today as per Tangs terms. Was just wondering if anyone else had been in a similar situation and what the outcome was. I figured i cant be alone in this situation.  

Your offer is for the accounts for which you are the primary holder; balances in those accounts is what matters.

CGO
July 4, 2023
6:35 pm
Norman1
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Paragraph 14 describes how the offer applies to joint accounts, including transfers from joint accounts:

14. 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 Applicable Account and is listed second on the statement for that Account), the Offer won’t be applied to that particular Account. Where money is transferred from an Account where the Eligible Client is listed second on the statement for an Applicable Account where the Eligible Client is the Primary Account Holder, that transfer will be eligible for Promotional Interest.

July 4, 2023
7:01 pm
savemoresaveoften
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wouldnt it be cheaper for them to extend the existing jul31 expiry at 5.255, instead of offering this new round of 5.5%??

July 4, 2023
7:08 pm
suburbs4life
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Thank you! Much appreciated everyone 🙂

July 4, 2023
9:24 pm
moneyhelp
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Warwick111 said
I also saw this offer on my insights when I logged in today. No email from Tangerine though.  

Interesting, for me it was the exact opposite. I got the email, but did not activate it through the email. So I logged into account, and no promo banner on insights showed up, so I went to profile and settings under Bonus and contests and also not there.

Once I activated it by clicking the "activate" button in the email, then it confirmed the offer was officially activated and also received an confirmation email as well.

Anyway, glad I got this, money now being pushed back into Tangerine from Achieva! Poof!

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