Targetted offer: 2.5% on new deposits May 1, 2020 and September 30, 2020 | Tangerine Bank | Discussion forum

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Targetted offer: 2.5% on new deposits May 1, 2020 and September 30, 2020
May 7, 2020
2:36 pm
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The Tangerine Savings Interest Offer of 2.50% (the “Offer”) is available to existing Tangerine Clients who have received this communication directly from Tangerine and who activate the Offer online by May 31, 2020. The Offer is available on Eligible Deposits made between May 1, 2020 and September 30, 2020 of up to $1,000,000 per Applicable Account Type (in the currency of the Applicable Account).

This is similar to the other post of 2.5% but that one was better as it was on all balances, whereas this is only on new deposits.

May 7, 2020
2:42 pm
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As I only have about $10 CAD and $10 USD in my Tangerine accounts, it's practically the same as the whole balance offer. I'm moving my USD over for sure though.

May 7, 2020
5:48 pm
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To be more clear, this one also applies to USD and that's what I'm moving in. Hubert was where I parked by USD when it was at 0.75%, but it's now dropped down to 0.25%. This 2.5% is the best I've seen currently available for USD.

The Offer is only applicable to Tangerine Savings Accounts (“Savings”), Tangerine Tax-Free Savings Accounts (“TFSA Savings”), Tangerine RSP Savings Accounts (“RSP Savings”), 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, 3 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”).

July 4, 2020
12:05 am
freakonomist
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CIBC seems the best FI to go with for non-registered savings account based in early July 2020 with its promotion at 2.50% for 120 days, best short term option to park some funds with no locked in commitment at the moment in my opinion...

It is very sad however that Tangerine is not even willing to match such rate (2.50%) for comparable time frame for targeted clients, knowing that Tangerine currently advertizes 2.50% for 5 months for ANY new customers... In addition, Tangerine has run several TV ads during the pandemic first wave peak offering 2.80% for several months (5 or 6 months) to ANY new customers again... It appears now that starting in July 2020, Tangerine has not offered more than 2.25% to any existing customer yet... And this offer is only applicable to non-registered savings account, it does not seem that Tangerine is offering any promotional offer applicable also to USD savings, TFSA savings, RRSP savings anymore... This is quite disappointing to me since I have seen other members on the forum posting that Tangerine offered them just in May 2020 2.50% for non-registered savings, USD savings, TFSA savings, RRSP savings until Sept 30 2020... And at such time (May 2020), rates were already slashed significantly globally...

Oh well, may the Tangerine algo Gods be with you for the next few quarters! Experience has shown across the years that Tangerine promotional offers have been very inconsistent / incoherent at many occasions...

July 4, 2020
9:34 am
Alexandra
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freakonomist said
CIBC seems the best FI to go with for non-registered savings account based in early July 2020 with its promotion at 2.50% for 120 days, best short term option to park some funds with no locked in commitment at the moment in my opinion...

It is very sad however that Tangerine is not even willing to match such rate (2.50%) for comparable time frame for targeted clients, knowing that Tangerine currently advertizes 2.50% for 5 months for ANY new customers... In addition, Tangerine has run several TV ads during the pandemic first wave peak offering 2.80% for several months (5 or 6 months) to ANY new customers again... It appears now that starting in July 2020, Tangerine has not offered more than 2.25% to any existing customer yet... And this offer is only applicable to non-registered savings account, it does not seem that Tangerine is offering any promotional offer applicable also to USD savings, TFSA savings, RRSP savings anymore... This is quite disappointing to me since I have seen other members on the forum posting that Tangerine offered them just in May 2020 2.50% for non-registered savings, USD savings, TFSA savings, RRSP savings until Sept 30 2020... And at such time (May 2020), rates were already slashed significantly globally...

Oh well, may the Tangerine algo Gods be with you for the next few quarters! Experience has shown across the years that Tangerine promotional offers have been very inconsistent / incoherent at many occasions...  

I currently have a considerable amount of funds with Tangerine DISA @ 2.5% til end of September. You have heard the old saying, "A bird in the hand is worth two in the bush"? Well, I am going to try a new strategy with them. About a week before the deal ends in September, I am going to call them and ask if they will extend the term at that rate. If they won't or can't I will tell them that I will be moving my funds out to another institution just before the end of the term. In the past I have asked them for their posted rate for "new customers" saying if they will give that to me I will move X amount of funds into the account. Their answer is........"We don't offer deals with funds that aren't already in the bank" Maybe not quite those words but with that meaning. We'll see.

July 4, 2020
10:43 am
savemoresaveoften
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Alexandra said

I currently have a considerable amount of funds with Tangerine DISA @ 2.5% til end of September. You have heard the old saying, "A bird in the hand is worth two in the bush"? Well, I am going to try a new strategy with them. About a week before the deal ends in September, I am going to call them and ask if they will extend the term at that rate. If they won't or can't I will tell them that I will be moving my funds out to another institution just before the end of the term. In the past I have asked them for their posted rate for "new customers" saying if they will give that to me I will move X amount of funds into the account. Their answer is........"We don't offer deals with funds that aren't already in the bank" Maybe not quite those words but with that meaning. We'll see.  

That will be interesting strategy to try. In the past, they will say "wait till current offer is over etc". But it seems like they now started retention offer to their "targeted" customers. So if current offer already expires and you have heard nothing, you probably wont qualify for any new offer anyway.

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