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Email this2:30 pm
July 25, 2023
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Hey everyone, hope all are well. Merry Christmas and Happy holidays to all of you.
Quick question. I've been playing the move money from Tangerine to Simplii and back and forth game. I'm currently at Tangerine getting 5.25% until 31 December. Simplii has offered 5.35% until 28 February. My question is this.. how long before expiration of the tangerine offer would I hear from them if they were to offer an extension? Guess it's two questions. Would a CSR be able to see/discover if an extension is going to be forthcoming?
Thanks for sharing all of your experiences. Love this forum.
4:26 pm
December 7, 2023
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1 week Prior to the offer expiration, Tangerine may send you an email notification for a new offer, but most of time, Tangerine does not email. If you do not see a new offer like the 7 th of the month, most likely you will not get a new offer.
I do not know CSR knows or not if an extension is going, I called them and asked several times, they always told me to call back after current offer expiration, they may give you a new offer when you call them but the rate is lower.
5:11 pm
July 25, 2023
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Appreciate your response, thanks! Guess I will just move over to Simplii again. Weary of the games but do like the rates.
7:33 pm
September 28, 2023
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If you have a competing offer I would jump ship. Tangerine (and Simplii) will probably give more offers if they notice you have withdrawn a bunch near the end of their last one (shows them they have to compete for your dollars). The whole point of these games is to attract funds into these accounts, then hope we forget it there when the interest rate reverts to the basement.
11:43 pm
February 7, 2019
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Saver602 said
Appreciate your response, thanks! Guess I will just move over to Simplii again. Weary of the games but do like the rates.
Any new or extended offer from TNG is unlikely to be close to 5.25-5.35%.
| CGO |
4:35 am
December 7, 2023
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BOC expected to cut much rates in 2025, I purchased 1 Year Cashable GIC at 3% + 1% Cash Back reward program=4% for the next 1 year. I will have a peace of mind in next 1 year.
I am tired of their games. Actually Tangerine did not offer me, Simplii offered 3.5% till Feb 28.
3:59 am
July 25, 2023
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everhopeful said
If you have a competing offer I would jump ship. Tangerine (and Simplii) will probably give more offers if they notice you have withdrawn a bunch near the end of their last one (shows them they have to compete for your dollars). The whole point of these games is to attract funds into these accounts, then hope we forget it there when the interest rate reverts to the basement.
That's a great summation. I did receive that rather strange email of a forthcoming extension at 4.15% until end of March. Not that it was an offer, just that I would receive an email on 7 January for something that starts on 1 January. Moved my funds to Simplii.
4:06 am
July 25, 2023
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usephrase said
BOC expected to cut much rates in 2025, I purchased 1 Year Cashable GIC at 3% + 1% Cash Back reward program=4% for the next 1 year. I will have a peace of mind in next 1 year.
I am tired of their games. Actually Tangerine did not offer me, Simplii offered 3.5% till Feb 28.
I have 3 GICs all maturing in 2025 all in the 5%+ range. Trying to look ahead and figure out how to keep earning some money when that happens. TBH I get my back up when banks want to use my funds and not pay interest. Guess we all do. I see potential for me to decide to move it all to something like CASH.TO in an unregistered account. Should have bought a cashable as you did.
5:27 am
August 16, 2022
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Be careful of their snake ism. Anything above and beyond your balance will receive the 5.25%. If you have $100,000 on November 15th and still have $100,000 today, maybe because you withdrew the small interest accrued, you wouldn't receive anything. They got me once with this. I lost a full month, no interest accrued. Always have to watch these snakes. Almost like Las Vegas. They're not built on winners. GL
5:33 am
August 16, 2022
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https://acrobat.adobe.com/id/urn:aaid:sc:VA6C2:0b7f31b3-fbc2-4cfa-bc64-3b6e7f4ba5b0
Not sure if this is going to work. Tried attaching a picture where I've circled the fine print but don't see how I can do that. Read legal please from Simplii
1:12 pm
December 7, 2023
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Saver602 said
I have 3 GICs all maturing in 2025 all in the 5%+ range. Trying to look ahead and figure out how to keep earning some money when that happens. TBH I get my back up when banks want to use my funds and not pay interest. Guess we all do. I see potential for me to decide to move it all to something like CASH.TO in an unregistered account. Should have bought a cashable as you did.
We all knew BOC will cut more rates in 2025, when rates are going down, it is better to purchase GIC in order to lock in the rate, but I really do not like non-redeemable GIC in case something wrong, we can not sell the GIC before maturity date. I like to purchase Cashable GIC, when I need money to buy stocks, I can redeem it right away. Now, 1 year Cashable GIC is 2.75%, 1 year non-redeemable is 3.55% in TD Direct Investing. I prefer GICs offered by the BIG SIX banks. Plus TD DI offerred me 1% Cash back, at the time I purchased cashable GIC was 3%, non-redeemable was 3.95% or 3.75%.
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