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Today's Email From Tangerine
March 19, 2021
4:29 pm
Dean
Valhalla Mountains, British Columbia
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.
Anyone else receive this email from Tangerine today ❓
.

      Tangerine
      .

      Hi Dean,

      We’re always looking for ways to improve and make banking experiences for our Clients even better. And one way we do that is through Tangerine Listens — an online Client panel where you can be part of decision-making at Tangerine by providing your feedback.

      You’re invited to join Tangerine Listens
      We’d love for you to join our exclusive online Tangerine Listens panel, along with other selected Clients. As a part of the panel, you’ll be able to participate in monthly surveys, interviews, and online discussions to help us learn what matters to you.

      Enroll –today – your participation could win you valuable prizes
      We understand that your time is valuable. So each time you participate in a survey, discussion, or activity, you’ll be entered into a draw to win one (1) of eight (8) $50 VISA* gift cards, as our way of saying thanks for your participation.

      Enrolling is Easy

      Excited? So are we! The first step is to get you enrolled. The link below will take you to a simple form asking you some personal questions about you and your lifestyle. We’ll use the information to build your unique, individual profile and tailor activities specific to you. We’ll also separately email you a unique code that you’ll need to copy and paste into the form to confirm and complete your membership in the panel.

      Access the survey

      Use this link to enroll^

      If you have any questions, feel free to send us an email.

      Sincerely,

      The Tangerine Listens Team

      ^The Tangerine Listens panel and platform are administered on behalf of Tangerine by Qualtrics.

I hardly deal with them at all anymore, so I don't think I'll bother.

    Dean

sf-cool " Live Long And Prosper " sf-cool

March 19, 2021
4:40 pm
Vatox
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I would have only one thing to say. Higher interest rates! I also don’t do business with them anymore.

March 20, 2021
12:15 am
Rick
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I received it as well. There is also a message from them giving a heads up it's legit in my account mailbox. Don't know if I'll participate. Though it is a good way to express my disappointment with their policies and practices since ING sold to them.

March 20, 2021
3:13 am
Kidd
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Anyone who fills out the questionnaire, please ask.

Tangerine spend all their time and effort chasing "NEW" clients (2.1%) and "NEW" money (1.5%). Why do they treat their existing financial base like third class citizens (1.2% ~ 1.4%)?

Anyone with an ounce of business sense would know, you appreciate your loyal client, appreciate what you have because you cannot count on someone "NEW" entering your establishment. To chase away banked money in the hope of receiving new shiny pennies seems crazy to me.

March 20, 2021
4:09 am
mordko
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The government is giving the banks free money, Why would they want yours at higher interest rates? What they do want from the public is a growing client base. Hence special deals for new clients.

March 20, 2021
5:30 am
Bill
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You see it on here all the time, customers have zero loyalty, moving their money in a heartbeat for a better deal elsewhere, so company loyalty is obsolete too. Easiest thing in the world to get money in the door whenever you need it, just up your rates and money pours in, so do it only when you need dough. Today's business sense means to target, focus on attracting and keeping those you're making highest margins on, highest CLV clients, forget the general loyalty schtick, it's gone on both sides.

March 20, 2021
6:03 am
Alexandre
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I've got that email, too, and I thought I am the chosen one. Nope.

Yet, something strange happens when I follow the link in this email. I am instantly getting Web page that says:

We thank you for your time spent taking this survey.
Your response has been recorded.

March 20, 2021
6:05 am
dougjp
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The only reason they do limited time specials is to pay 0.1% on whatever lazy or uninterested people forget to withdraw when the special ends.

The panel will be a complete waste of time, as they will have pre-arranged self fulfilling topics and issues, and with the exception of feigning interest and listening, they will ignore the obvious as mentioned by everyone above.

I didn't get the e-mail, and haven't received any rate specials in a long time. I guess they look at the high rate GICs I have there, and nothing in savings with them.

March 20, 2021
6:13 am
bpwest
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Got the invite to 'Client panel' too; really curious how widespread the invite was. And, unsure how 'excited' I am about this opportunity, and therefore undecided as to whether I'll join. Seems to me they have a pretty good idea on how I react to .1% interest rates, and although I don't hate Tangerine for their tactics, I do get somewhat frustrated. So, do I want to answer some questions about 'myself and my lifestyle' etc, ...still thinking

March 20, 2021
7:27 am
Kidd
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There’s an old saying, “A stitch in time” No, thats not it.

“A Bird in the Hand is Worth Two in the Bush”

It’s better to hold onto something one has already than to risk losing it by trying to attain something better.

March 20, 2021
9:12 am
Dean
Valhalla Mountains, British Columbia
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.
Hey Tangerine . . .


.

      Dean sf-wink

sf-cool " Live Long And Prosper " sf-cool

March 20, 2021
6:05 pm
Loonie
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If Tang wanted my advice, they'd have to pay me for it.
My consulting rate is $400/hr. Minimum half hour.
So far, they haven't asked.

I already gave them the 'free' advice part; my accounts are empty.

March 20, 2021
7:06 pm
Canadianbull
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sf-coolsf-laugh
@loonie!

March 21, 2021
3:31 am
User230
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I got a invite to the tangerine survey.

Not filling out the survey. They have had constant change to the downside for sometime. Tangerine is probably looking for ways to downgrade further.

I still use their Mastercard.

If I did not have the Mastercard I would close all of my accounts at Tangerine.

March 21, 2021
10:31 am
rhvic
Victoria, BC
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I get to the point in their preliminary survey where they ask for employment status, and I reply 'retired'. Then I get this:
"Thank you for your interest in joining Tangerine Listens Panel today. We very much appreciate your time. Unfortunately, one of the responses you provided has disqualified you from the enrollment process. As a result, we will be disposing of the information you have provided."

I guess they do not want retired folks to give their opinions. But trust me, I do have opinions about Tangerine which I would like them to hear!

March 21, 2021
11:25 am
Vatox
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rhvic said
I get to the point in their preliminary survey where they ask for employment status, and I reply 'retired'. Then I get this:
"Thank you for your interest in joining Tangerine Listens Panel today. We very much appreciate your time. Unfortunately, one of the responses you provided has disqualified you from the enrollment process. As a result, we will be disposing of the information you have provided."

I guess they do not want retired folks to give their opinions. But trust me, I do have opinions about Tangerine which I would like them to hear!  

Yep, I’ve had the same thing happen with other surveys. They want working age folks because that’s where the big credit borrowers are. Retired people can have huge sums of money, but the big gains, for FIs, are in lending money out or MERs on mutual funds. Not savings accounts. Appealing to working age people is more important to their functionality.

March 21, 2021
1:52 pm
Norman1
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Bill said
… Easiest thing in the world to get money in the door whenever you need it, just up your rates and money pours in, so do it only when you need dough. Today's business sense means to target, focus on attracting and keeping those you're making highest margins on, highest CLV clients, forget the general loyalty schtick, it's gone on both sides.

It is easy now that Tangerine Bank is wholly owned by the Bank of Nova Scotia.

Bank of Nova Scotia has a DBRS long-term debt rating of AA and a short-term debt rating of R-1(high). That's slightly better than the Province of Ontario which has AA(low) and R-1(middle)! That rating allows the parent to borrow at provincial bond rates.

Any time Tangerine Bank needs short term money, it can ask Bank of Nova Scotia to stamp the IOU with the Bank of Nova Scotia guarantee stamp and the rate drops to ¼%.

So, depositors asking 1% to 2% for deposits are not that valuable to Bank of Nova Scotia or to Tangerine Bank.

Many of today's businesses are a lot smarter and are not as easily bamboozled by their marketing people into believing a high number of customers or high market share is desirable.

One can always attract more customers or grab market share by selling to them at below cost. Such customers may help the marketing people hit their targets and earn their bonuses. But, such customers don't help the business.

March 21, 2021
1:56 pm
Alexandre
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Visited some survey site once, they offer few cents for each survey completed. Each survey takes between 30 and 60 minutes. Some are even longer.

They prescreen visitors, if you are saying you are unemployed or retired there are usually no surveys for you to participate. Totally different outcome if you are 30 years old father of three, making 6 digit salary and at least one of kids having health issues.

I laughed at that: do you seriously think 30 years old father of three with well paid job and sick child will spend 1 hour answering survey questions to get rewarded by 15-30 cents?

March 21, 2021
6:11 pm
bpwest
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rhvic said
I get to the point in their preliminary survey where they ask for employment status, and I reply 'retired'. Then I get this:
"Thank you for your interest in joining Tangerine Listens Panel today. We very much appreciate your time. Unfortunately, one of the responses you provided has disqualified you from the enrollment process. As a result, we will be disposing of the information you have provided."

I guess they do not want retired folks to give their opinions. But trust me, I do have opinions about Tangerine which I would like them to hear!  

Thanks for the info rhvic, I shan't waste my time...I thought Tangerine wanted to hear what we (all, or at least all that received the invite) had to say. Whether it was because you're retired, or something other reason, it seems to be they really don't want to know what you, and others, have to say. sf-surprised, not surprised sf-wink

March 22, 2021
1:23 am
Loonie
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They already know how old you are. They shouldn't be surprised to hear you're retired!

My experience has been that most FIs are not particularly interested in retired people. What they want is younger people who are sufficiently well paid that they can carry mortgages, car loans, credit cards, home reno loans, and divert some of their income to investments. They encourage RSPs, not because it is necessarily a good thing for you, but because it means you have more cash in hand to invest with them.
People who are in retirement, spending down their nest eggs on themselves or giving it away, taking vacations, mortgages paid up, buying cars for cash or none at all, reduced income, decumulating, not interested in the latest investment "product:", and no longer naive, are of little interest.
They like us for our credit card spending when traveling, and sometimes for cash deposits in limited amounts, but not much else. We are really only useful to them if they can get us involved in the "Wealth Management" side, preferably multi-generational, with the big fees etc., and Tang doesn't offer that.

Several FIs don't even offer RIFs, and exclude them from promos. That tells you a lot.
They've defined their target market, and we're not it.

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