Targeted offer to some customers from Tangerine including on US Funds: 2.75% on new deposits until November 30, 2019 | Page 2 | 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 offer to some customers from Tangerine including on US Funds: 2.75% on new deposits until November 30, 2019
June 13, 2019
10:48 am
Good
Member
Members
Forum Posts: 10
Member Since:
September 18, 2018
sp_UserOfflineSmall Offline

They must be losing business. Manulife Bank is still better at 3.25% for 6 months. Plus you are not restricted to three linked accounts like Tangerine

June 13, 2019
12:25 pm
cgouimet
Member
Members
Forum Posts: 30
Member Since:
February 7, 2019
sp_UserOfflineSmall Offline

AlainJF said
With DUCA offering 3% and Manulife offering 3.25% (for example), I am not sure I understand the excitement around this offer from Tangerine. (?)

I received this offer from Tangerine as many others, but I am not sure if I will turn it on. I would have expected something like 3%.

The main reason why I hesitate to turn it on is because I do not want to miss another (future) better offer from Tangerine because I am already on this special (non-competitive) offer. I experienced this situation in the past... frustrating.

Thoughts ?  

DUCA maxes out at $100k. So 2.75% through Nov 2019 looks quite good.

June 13, 2019
1:22 pm
cgouimet
Member
Members
Forum Posts: 30
Member Since:
February 7, 2019
sp_UserOfflineSmall Offline

Good said
They must be losing business. Manulife Bank is still better at 3.25% for 6 months. Plus you are not restricted to three linked accounts like Tangerine  

I have 1 account linked to ML but attempts to link anything else fails. So, I'll use the 3.25% for a while and then go elsewhere ...

BTW, the initial setup is kind of slick ...

June 13, 2019
1:49 pm
Yatti420
Canada
Member
Members
Forum Posts: 308
Member Since:
July 10, 2011
sp_UserOfflineSmall Offline

No offer from Tangerine. Guess I'll just keep moving $$$ elsewhere.. Their new Scotia envelope free ATMs are also slower at doing deposits now go figure..

June 13, 2019
3:43 pm
moneyhelp
Member
Members
Forum Posts: 199
Member Since:
December 1, 2016
sp_UserOfflineSmall Offline

implode said
Check your USD account and see what it says. Chances are unlikely you have the promo rate of 2.75% on your USD account.Screenshot-2019-6-12-Savings-Account-Details-Tangerine.png  

So, I don't have a US account with them. I hold my US cash at Hubert since they have the best (consistent) rate. However, 2.75% for 6 months, I wouldn't mind transferring it, however, the 2.75% I'm currently on I've been on for a few months now which ends the same day as this current promo.

I contacted Tangerine (via chat) and asked if I could take advantage of this US rate if I opened a US account, and they, not surprisingly, said no.

She did, however, say that she will make a note on my file that I am interested in a US account with a special offer, so hopefully that will one day offer me the same (or better) promo rate, we'll see.

June 15, 2019
10:02 am
implode
Member
Members
Forum Posts: 70
Member Since:
April 2, 2015
sp_UserOfflineSmall Offline

I held my USD cash at Hubert too as they had the best rate I could find then (0.75%) I moved the USD over to Tangerine when they had upped their rate to 0.8%. When I did that, Tangerine also offered a 1 year GIC at 3% so then I locked the bulk of that for a year. When Tangerine dropped their USD rate to 0.7% I moved back the liquid cash to Hubert, but now that Tangerine is giving me 2.75% on USD too, the liquid USD is back to Tangerine. I'm a rate chaser with no loyalty to any of the FIs.

June 18, 2019
5:53 pm
AlainJF
Member
Members
Forum Posts: 127
Member Since:
January 16, 2017
sp_UserOfflineSmall Offline

dougjp said
Like Vatox, I feel like taking an offer now may negate what might be made available later. And as their current offer is nothing special and not needed, I'll get interested again in seeing a highly competitive offer from them, or someone, around October or perhaps September.

Last time around I was given a rate lower than others with similiar balances on the same date, and naturally that treatment still doesn't sit well with me.  

I am curious to know if there are many others "not accepting" the offer ? Or, accepting the offer, but not moving any money to Tang ?

With some other FI offering better rates, but quickly putting a limit to $100K (ex: DUCA, and now Manulife), obviously, they get huge flow of money in with their 3%+ rate !

June 18, 2019
6:15 pm
Kidd
Member
Members
Forum Posts: 385
Member Since:
February 27, 2018
sp_UserOfflineSmall Offline

Alain, i DID activate tangerine's 2.75% offer.  I have not moved any new funds into that savings account but i will be, when a gic matures in August.  Until then my balance is $400 making 1.2% because it's old money... not new money.

June 18, 2019
6:18 pm
moneyhelp
Member
Members
Forum Posts: 199
Member Since:
December 1, 2016
sp_UserOfflineSmall Offline

Kidd said
Alain, i DID activate tangerine's 2.75% offer.  I have not moved any new funds into that savings account but i will be, when a gic matures in August.  Until then my balance is $400 making 1.2% because it's old money... not new money.  

Was that the 2.75% including US account funds or was that the "new" client promo rate?

June 18, 2019
6:26 pm
Kidd
Member
Members
Forum Posts: 385
Member Since:
February 27, 2018
sp_UserOfflineSmall Offline

Money help. yes, my offer included us accounts. Post #4 in this tread are my terms and conditions.

June 18, 2019
6:51 pm
Joe
Member
Members
Forum Posts: 115
Member Since:
June 3, 2015
sp_UserOfflineSmall Offline

implode said
I held my USD cash at Hubert too as they had the best rate I could find then (0.75%) I moved the USD over to Tangerine when they had upped their rate to 0.8%. When I did that, Tangerine also offered a 1 year GIC at 3% so then I locked the bulk of that for a year. When Tangerine dropped their USD rate to 0.7% I moved back the liquid cash to Hubert, but now that Tangerine is giving me 2.75% on USD too, the liquid USD is back to Tangerine. I'm a rate chaser with no loyalty to any of the FIs.  </block

Winning-Rhymes-with-winning.jpg

June 18, 2019
11:47 pm
GoHabs
Member
Members
Forum Posts: 19
Member Since:
August 1, 2017
sp_UserOfflineSmall Offline

So I did get the 2.75% offer for new deposits - notified via email. My offer includes US funds. I do have a US SA with them with a 0 balance. I haven't used it in years.

June 19, 2019
5:53 am
savemoresaveoften
Member
Members
Forum Posts: 139
Member Since:
March 30, 2017
sp_UserOfflineSmall Offline

I dont think there is any harm to activate the offer even if your intention is not to move money in. Very very slim chance they will offer anything better than 2.75%.
The USD 2.75% is the reason I accept and move some $ over. Thats the best rate and an area where CU wont touch as there is no funding need in USD for them.

July 12, 2019
5:00 am
Good
Member
Members
Forum Posts: 10
Member Since:
September 18, 2018
sp_UserOfflineSmall Offline

I received a offer also yesterday 2.75 % on new deposits .Also on US and Tax free accounts From July 11,19 tell December 31,19. Activated it.

Lots of competition .They must have lost deposits as promotions ran out for other customers and they moved their deposits.

July 12, 2019
7:47 am
gicjunkie
Ontario
Member
Members
Forum Posts: 283
Member Since:
November 7, 2014
sp_UserOfflineSmall Offline

Good said
I received a offer also yesterday 2.75 % on new deposits .Also on US and Tax free accounts From July 11,19 tell December 31,19. Activated it.

Lots of competition .They must have lost deposits as promotions ran out for other customers and they moved their deposits.  

I just noticed my offer as well. I don't check the account daily so I don't know when I got it.

July 12, 2019
11:02 am
Doug
West Kelowna
Member
Members
Forum Posts: 2682
Member Since:
December 12, 2009
sp_UserOnlineSmall Online

Brimleychen said
I believe the better offers exist out there, eg you can still get promotion rate from Manulife bank@3.25 for 6 months, and Peoplestrust 3% GIC for 15 months  

I believe the Manulife Bank offer is limited to CAD HISAs, not USD. Still, they've got a good regular, industry-leading rate on USD HISAs. OP asked about USD HISA bonus offers, of which 2.75% seems to be the best.

Interestingly, USD HISAs, USD GICs, and Business deposits seems to be Tangerine's new focus area.

Cheers,
Doug

July 13, 2019
9:13 am
hwyc
GTA
Member
Members
Forum Posts: 65
Member Since:
September 30, 2017
sp_UserOfflineSmall Offline

Good said
I received a offer also yesterday 2.75 % on new deposits .Also on US and Tax free accounts From July 11,19 tell December 31,19. Activated it.

Lots of competition .They must have lost deposits as promotions ran out for other customers and they moved their deposits.  

Looks like Tangerine is almost doing targeted offer in monthly waves now. From forum thread subjects, there was one in March, April, then June. Now July. I think the July offer should also be in its own thread.

. . . May be I'll get lucky in August sf-frown

July 17, 2019
11:13 am
Dean
Member
Members
Forum Posts: 39
Member Since:
January 12, 2019
sp_UserOfflineSmall Offline

Good said
I received a offer also yesterday 2.75 % on new deposits .Also on US and Tax free accounts From July 11,19 tell December 31,19. Activated it.

Lots of competition .They must have lost deposits as promotions ran out for other customers and they moved their deposits.  

I just received the same ^ offer from them today (July 17), via email.

It's a good rate for a savings account, but I don't have a lot of uninvested cash available right now. Most of my $$$ is in GIC's and dividend paying blue chip stocks, so I may not bother with it.

July 18, 2019
7:12 pm
Loonie
Member
Members
Forum Posts: 5213
Member Since:
October 21, 2013
sp_UserOnlineSmall Online

Tangerine hit a new low with me today.
I was offered 2% on existing or 2.75% on new.

However, here's the kicker: They would give me 2.75 on existing IF I would carry a balance of $250,000!!! (yes, that's two hundred and fifty thousand.) This is asking me to deposit beyond CDIC limits! I just about spilled the proverbial coffee all over myself (I don't actually drink coffee.) I never have, and I never will give them 250K. For $250,001, I can get 2.85% at Steinbach CU and have it ALL insured, although I'm not planning on doing that either. I can also get 2.85 at Luminus for six months if I wish, but not keen on Luminus based on past experience; or 2.8 at Motive. The Tangerine money will go to one of these, I think.

Consequently, I moved ALL my personal money out of Tangerine as there are endless places where I can get a better rate than 2.0%! I've never done this before. Spouse is getting 2.75, so I moved my joint account deposits to spouse's joint account, total still within CDIC.
It will be interesting to see if and when I ever get another offer. In the meanwhile, I will be relieved of the huge nuisance of talking to them.
Even this much took two phone calls, about a half hour on hold, and neither of the people I spoke to spoke clear English, plus they both made several errors in what they told me. I had to ask them to repeat things more times than I could count.

As an aside, some of us have noted that the mortgage business seems to be pleading for customers and that the banks are awash in deposits. That being the case, (presumably), why are Steinbach and Tangerine offering top rates only for very large deposits? Surely they wouldn't need to offer this incentive if they had enough of our cash; I would expect, instead, that they would offer a consistent rate or even a lower rate for higher amounts, which would not be unprecedented.

July 18, 2019
11:45 pm
Kidd
Member
Members
Forum Posts: 385
Member Since:
February 27, 2018
sp_UserOfflineSmall Offline

I have no worries about the cdic.... when or if we need it, it will NOT be there for us.  The Canadian courts are the most lax in the world when it comes to holding corporations accountable.

As for the 2.75% on a minimum deposit of $250,000.  I would try to tweak the terms a little before accepting that offer.

A) on ALL money, not just NEW money.
B) for 365 days, NOT 180 days.

Then, unlike a gic your money remains liquid.

No permission to create posts

Please write your comments in the forum.