Time to spin the wheel again on the Tangerine lottery | Page 2 | Tangerine Bank | Discussion forum

InterestThis said
Now Tang posted a new Insight about tiered savings rates for a $6.99/month fee, Scotiabank style.
 

I hope that the paid tiered savings rate is not mandatory. Until now there was no option to opt out from tiered rates "offers". That is why I have been having it for almost 9 months now. At least it did not cost me anything.

This is the first time I've felt really anti-Tangerine. Up to now it's been decent.
It does have bank machines etc which are handy.

But this paid-tier nonsense is Scotiabank level stuff, it totally destroys Tangerine's brand. How many people are going to pay Tangerine $7 a month to save your money?
The reviews of Tang have really tanked.
Maybe Scotia wants to ruin Tang, like CIBC keep Simplii stagnant, as it doesn't make enough profit for them.
Oh well, am done with Tang unless by fluke something useful is offered.

RaySee said

You can often see these promos under the "Insights" tab... if you are selected. But I'm sure they will always send an email as well.

Here's the details on the tiered rate offer.

Hmm... image is not showing. Here's the rates:

Total Daily Balance Interest rate*‌‌‌‌‌‌‌‌‌
$0-$49,999................... 2.00%
$50,000-$99,999.......... 2.50%
$100,000-$499,999...... 300%
$500,000+ ................... 3.50%  

I don't have those promos, I have not had an "offer" for a while. I keep have to calling them and bug them, it's really annoying that they don't reward their loyal clients who keep good balances with them vs getting new clients.

I don't see any 3.75% either. nada. Never get promos.

How long does the up to 3.5% last ? and is it on all existing money on all acounts ?

What is this thing i hear about some particular promos that have fees (7$) i don't see any of that either. ??

Tangerine is offering everyone something different, probably coming from its AI algorithm, for maximizing each account for Tang's benefit. It's all done through quantitative models and mathematical formulas for capital requirements and risk management.
Tangerine bank is cooked, from the standpoint of the end user counting on HISA offers.

COIN said

Please tell me that my 4.25% offer is unaffected.  

Looks like the Tang AI likes you.

RaySee said
Has anyone been given the 3-month promo lottery rate after being migrated to tiered interest rates? Or am I stuck with this uninspiring "promo" forevermore?  

I am on tiered rates until December 31st. I just received promo offer of 4.0% till August 31st, for new deposits.
Which means, even for people on tiered rates there could be promo offers.

From email I received:

Here’s how this works:‌‌‌‌‌‌‌‌‌
• Earn 4.00% on new deposits (up to $1,000,000 per account type).
• Your Tangerine Savings, Tax-Free Savings, RSP Savings, and US$ Savings Accounts are eligible.
• This special rate applies from May 26 to August 31, 2026.
Note: Existing balances will keep earning the applicable Tiered Savings Rate.

No, I do not have joint accounts with Tangerine.

After numerous months with nothing but tiered nonsense, finally got an email with a 4% rate to August 31. Didn't even have to accept it. My savings account was adjusted to 4%. Go figure.

Nice to see decent promos showing up again. I've been tiered since September with nothing new offered since then. Hopefully, when the time is up there will be something for me.

I consider it a different way than me being in "Tangerine Jail" (although that is a catchy term). I gave them a 9 month sentence for their transgression. We'll see if they have been successfully rehabilitated or not once they are out on parole.