5:30 am
June 20, 2023
JenE said
When I click on the big orange square containing the $50 cash back offer it takes me to a page that says “no such offer”??? Peter’s original post link has the same result. Any answer?
Hi JenE,
See Peter's post #15 here https://www.highinterestsavings.ca/forum/tangerine-bank/50-cash-back-for-minimum-500-gic/#p87619
1:55 pm
August 8, 2022
June 22/23: I clicked on the cashback offer link, completed the process, chose e-transfer for the cashback options, and was given a 22 digit number for my offer. I was transferred to Tangerine, and completed the usual type of GIC form. I was given a GIC confirmation 14 digit number, and 15 days to fund the GIC from my account. I transferred money from another institution to Tangerine. I took screenprints throughout.
June 27/23: Completed transfer to appropriate account. There was no record of the GIC. I called Tangerine.
CSR, name noted: could only repeat that Tangerine only offers cashback to new clients and credit cards and the GIC does not exist. I noted that I had screenprints. I asked for escalation to a supervisor.
SUPERVISOR, name noted: contentious, dismissive and quite aggressive. Spoke over me rapidly and loudly throughout, would not listen. He declared the offer non-existent and that highinterestsavings .ca likely is a dubious site. I referred to my screenprints and confirmation numbers. Not interested. I gave him the URL to check the offer information, with reference to Peter's post of June 23 (the Tangerine system update affecting cashback). He used the posts of other users who queried the methods of cashback to boost his argument that it didn't exist. He quoted 'cross your fingers' from one post as definitive of the scam, and maintained repeatedly and vociferously that I have to speak to Peter about this, as the offer has nothing to do with Tangerine, and ended the call abruptly. So stylish. Complaint in process.
The Tangerine reps are mostly right in that the cash back offer has nothing to do with their department. But that is a separate concern from the opening of the GIC itself. The only part the cash back offer has to play there is that the click ID is used to later confirm that the GIC was in fact opened in order to pay the cash back. The actual opening of the GIC follows the Tangerine process since it happens on the Tangerine website.
There is a notice on each offer that says something like: "The $50 cash back and $50 Amazon.ca gift card are not funded by Tangerine. If you have any queries related to this offer, please contact High Interest Savings Cash Back."
Tangerine hires affiliate marketing companies, who then set up offers with "publishers" like High Interest Savings. Tangerine pays the affiliate marketing companies, who then pay the publishers, who then pay the cash back to the end customers. (And we've had our cash back website for almost 5 years with over 1,300 individual cash back payments.) Why this separation? The short answer is that I presume that this expands on the type of marketing that financial institutions are able do. I wouldn't expect any particular Tangerine rep to know about High Interest Savings, but for them to outright call the cash back offer a scam is a surprise.
The most concerning question to me is: were you able to open the GIC?
6:02 pm
August 8, 2022
No GIC, no record of the GIC. However, an embarrassing question arose when I reviewed the screengrab in hwyc's new Tangerine thread "15 days to fund a GIC is a bogus process (or not)?". That form reads similarly to mine, but - did we click "DONE"? Or did we screenprint and forget it, after the extra step?
Edit: hwyc reports clicking DONE.
(And thanks, Peter, for the information about the cash-back process.)
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