Targeted offer - 5% on new money till June 30, 2023 (extended to September 30) | Page 3 | Tangerine Bank | Discussion forum

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Targeted offer - 5% on new money till June 30, 2023 (extended to September 30)
June 23, 2023
10:42 am
InterestThis
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Yes they say its extended to Sept 30. But its using the words new deposits. What about the current deposits? Going to read the legal terms.

June 23, 2023
10:48 am
InterestThis
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Sure looks like the end date was just extended, this is from the terms.
----------------
Here’s how it works:
1. We totalled up the balances of your eligible Savings, TFSA, RSP Savings and US$ Savings Account(s) as they were on February 1, 2023 to get your total balances per Account Type
2. From February 2, 2023 to September 30, 2023, you’ll earn your special interest rate on new deposits over your total balances calculated on February 1, 2023

June 23, 2023
11:01 am
Wrayzor
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I just received e-mail notification of the expiry date extension.

From the e-mail: "The Offer is available on Eligible Deposits made between February 2, 2023 and September 30, 2023 of up to $1,000,000 per Applicable Account Type"

June 23, 2023
12:27 pm
Bill
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Same here, extended to Sept 30. On June 9 they had sent an email indicating my promo rate would expire in 21 days but apparently they changed their minds. Keep their deposit base stable?

June 23, 2023
3:19 pm
RetirEd
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InterestThis:

1. We totalled up the balances of your eligible Savings, TFSA, RSP Savings and US$ Savings Account(s) as they were on February 1, 2023 to get your total balances per Account Type
2. From February 2, 2023 to September 30, 2023, you’ll earn your special interest rate on new deposits over your total balances calculated on February 1, 2023

That sure looks like it means the special rate applies only to new deposits, unless something else in the E-mail says otherwise.

Wrayzor:

From the e-mail: "The Offer is available on Eligible Deposits made between February 2, 2023 and September 30, 2023 of up to $1,000,000 per Applicable Account Type"

That also seems to say that only deposits made on or after Feb. 2 are eligible, rather than funds already in the accounts. I urge you both to verify on the phone (if you can ever get through!)

RetirEd

RetirEd

June 23, 2023
3:37 pm
GR
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Peter: I suggest that the heading should be changed to show "extended to September 30, 2023".

June 23, 2023
3:38 pm
InterestThis
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That's right, funds deposited after Feb 2 are eligible. So that means it would apply to current balances, same as the original offer.
For a moment it looked like it was new deposits after today.
So they don't want everyone to move their money out next week, so they extended the offer for 3 months.

June 23, 2023
3:54 pm
Dean
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.
I just saw today's email from Tang, and I logged in to my Tang SA to confirm . . .

The original 5.00% offer (with all it's terms & conditions unchanged) has now been Extended to Sept. 30th, '23.

That's three (3) more months, uva sweet deal ❗ sf-laugh

    Dean

sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

June 23, 2023
4:52 pm
suburbs4life
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Funny thing, I called them today asking for an extension/ new promo as this offer was ending late next week. The CSR offered 3.5% for 150 days. Sure glad I declined that and said I am pulling my sizeable balance out next week if no offer is sent. 2 hrs later we receive this promo extension via email… coincidence?? Perhaps

June 23, 2023
5:39 pm
Gogie
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suburbs4life said
Funny thing, I called them today asking for an extension/ new promo as this offer was ending late next week. The CSR offered 3.5% for 150 days. Sure glad I declined that and said I am pulling my sizeable balance out next week if no offer is sent. 2 hrs later we receive this promo extension via email… coincidence?? Perhaps  

Same thing for me. I called last night and was offered 3.5% (or might have been 3.75%) for 150 days but I declined and got the extension email today.

June 23, 2023
5:52 pm
HermanH
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Didn't get any e-mail notification, but just had the deadline extended from June 30 to Sept 30.

June 23, 2023
6:14 pm
Dean
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suburbs4life said

Funny thing, I called them today asking for an extension/ new promo as this offer was ending late next week. The CSR offered 3.5% for 150 days. Sure glad I declined that and said I am pulling my sizeable balance out next week if no offer is sent. 2 hrs later we receive this promo extension via email… coincidence?? Perhaps  

Tang doesn't always give their CSRs a heads-up of what's about to happen.

And sometimes the CSRs don't get around to reading the memo, until it's
already happened. sf-wink

.
==============================================================
.

HermanH said

Didn't get any e-mail notification, but just had the deadline extended from June 30 to Sept 30.  

Maybe check your email's Junk/Spam file ... it might be there.
.

    Dean

    sf-cool " Live Long, Healthy ... And Prosper! " sf-cool

    June 23, 2023
    6:52 pm
    HermanH
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    Dean said

    HermanH said

    Didn't get any e-mail notification, but just had the deadline extended from June 30 to Sept 30.  

    Maybe check your email's Junk/Spam file ... it might be there.

    Nothing. Maybe tomorrow. 🙂

    June 24, 2023
    5:08 am
    lisa
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    Read the fine print on your extended from June 30 to Sept 30 email. My email says new money is based on my balance as of Feb 1st 2023. And of course I had a high balance on that date, so my new money has to be above that balance. Read the fine print on your offer!

    June 24, 2023
    5:19 am
    lisa
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    Fine Print:
    Here’s how it works:
    We totalled up the balances of your eligible Savings, TFSA, RSP Savings, and US$ Savings Account(s) as they were on February 1, 2023 to get your total balances per Account Type
    From February 2, 2023 to September 30, 2023, you’ll earn your special interest rate on new deposits over your total balances calculated on February 1, 2023 (up to $1,000,000† per Account Type)
    The rest of your Account balance will earn the current posted rate

    June 24, 2023
    6:53 am
    The Rock
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    lisa said
    Fine Print:
    Here’s how it works:
    We totalled up the balances of your eligible Savings, TFSA, RSP Savings, and US$ Savings Account(s) as they were on February 1, 2023 to get your total balances per Account Type
    From February 2, 2023 to September 30, 2023, you’ll earn your special interest rate on new deposits over your total balances calculated on February 1, 2023 (up to $1,000,000† per Account Type)
    The rest of your Account balance will earn the current posted rate  

    I think your best route would be to pull all your money out before the end of your promotional period and wait for them to offer you the newest best rate on all your money, which is 5.25% right now.

    June 24, 2023
    6:57 am
    lisa
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    I did pull all my money out.....and only got the extended offer on new money above the Feb 1st balance. Getting tired of the games at Tangerine.

    June 24, 2023
    7:22 am
    The Rock
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    lisa said
    I did pull all my money out.....and only got the extended offer on new money above the Feb 1st balance. Getting tired of the games at Tangerine.  

    Go elsewhere until/unless they offer you 5.25% on all your money. Park your money in a HISA between 3-3.5%. Rates are expected to go up again in July, so there should be more 5.25% promo offers coming from other banks.

    June 24, 2023
    10:04 am
    InterestThis
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    yeah Tang definitely calculated so many people moving their money out at the end of June was not in their interest. Pun intended.

    June 24, 2023
    10:13 am
    Lodown
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    Tangerine is paying 5.25% to clients with small amouts in their accounts. This is Tang's way of paying 5% instead of 5.25% on your money. So don't be too happy. I wonder if their 5.25% offer would show up after June 30, if funds are pulled before then.

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