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Targeted offer 5.50
February 28, 2024
6:01 pm
Bill
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You can call them, tell them your money's leaving unless they have an offer for you, they may give you a retention offer. Then you can decide if you want to accept or not.

Or you can withdraw your money and just wait until you get the next general promo offer they're giving out, it could be in a few days or months or years, you never know. But those rates are usually higher than the retention offers they give you on the phone to keep your money there.

In my experience.

February 28, 2024
6:38 pm
HermanH
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zgic said
Can someone share their experiences about Tangerine, where they received a good offer before expiry of the current one. I did not get any such offer till date.

Should I withdraw my funds right now?  

Sometimes an offer is extended.
However, beware we personally were on a 5.5% offer when it expired at the end of Jan. I moved the funds, but had to leave $2500, since it was still on hold. I did not think much of it.

Lo and behold, a second 5.5% offer was given, but the date of the initial balance was different. In short, because I left $2500 in the account (I could have shifted it elsewhere), the money I am bringing back for the 5.5% Promo is only earning bonus rate on everything above $2500.

I'm double-sc*****

Save yourself some heartache and move the funds well before the end date. Don't be greedy over a few dollars more.

February 29, 2024
5:59 am
InterestThis
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And if you forget to do things in time, at least you can move the money into the chequing account at the end date for that day.
Because sometimes an offer can come out backdated, and if you have a large balance then the offer is negated. Of course the chequing acct interest is basically zero.

All these banks do these promo's to make more profit of course, so its in their favour.
Similar to how they do low-rate balance transfers, they make a killing when people make a mistake.

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