Tang promo | Page 4 | Tangerine Bank | Discussion forum

Ooh, logged into Tangerine and the promotion has finally appeared on my account:

Loonie said
This was discussed briefly earlier. I think most of us felt 3.15 x 4 months was the better deal on the assumption that rates might go up between now and then. It depends though on how much cash is involved. On a smallish amount, it doesn't matter so much and you may prefer the security of longer term.  

Alexandre said

I took 3% for 6 months - which ends mid-May for me. I would rather keep money for extra 2 months at a good enough rate.
.  

I did end up taking the 3.1% for 4 months (up to $1M balance). But after I hung up I had doubts for the same reason you mentioned Alexandre, and called back to change to the 3% for 6 months. Long wait time, so requested a callback. At the same time the callback came, a delivery I was expecting arrived so i hung up. Then I did some Googling and saw that rates were expected to rise - as you said Loonie - and read when BoC wold be announcing possible rate changes and decided to just leave things as they were.

MG said

May I ask how you received the two offers? Was it by email or did you call in and get verbally presented with the two offers? Thx.  

Hey, MG. So I did not receive any calls or email. I called in and said my offer is about to expire and I had a 3% offer and could they do better. Rep asked from where and I told her RBC. Rep said best she could do was 2.5%. There was a convo that followed that I won't get into now because of time but fast forward, I asked to speak with a supervisor, got cut off, called back, new Rep offered me 3%, I said I was interested, still wanted to speak to a supervisor - re a CS issue - after which I brought up the possibility of the 3.15% rate. I did mention I heard some people were getting that rate. She said she would check and came back and said ok to 3.15 for 4 months on the full balance starting immediately.

Kidd said
GoHabs.

For every $100,000, 0.15% makes... ballpark $50 in 4 months. The old ontario government would call that a rounding error.

By the way, i agree. The Habs should go but to where?  

Thanks for doing the math, Kidd - and first I've heard of rounding error. Re: the Habs - I know, right? But I basically lost interest after they traded Plekanec to the Leafs. Watched some when they brought him back but now he's gone for good, so not really following them. My new obsession (well, last 2.5 years) is the Golden State Warriors.

implode said
I'd go with 3.15% for 4 months which matches Simpli's rate.
  

Simplii isn't available in Quebec, Implode (great user name). i was surprised actually when Tangerine agreed to 3.15. Haven't checked but I'm not aware of any banks here offering higher than 3%.

Thanks everyone for weighing in.

Vatox said
Lol, the 2.5% that I was referring to, is Hubert. You take the 2.75 and if you fall below 50k, you move what's left to Hubert. Hopefully you stay above the minimum, but 2.5% is better than Tang's fallback rate.

You can also make the argument that Tang should offer you 2.5% if your balance does drop, or you will transfer it to Hubert. You can even wait to push that on them until it actually happens(if it happens at all).

There is no need to ever get less than 2.5% as I see your situation. Did I miss something?  

Agreed, I am just going to stick with the 2.75% and if for whatever reason I fall below the $50K mark, I will call Tang back and see if they will at least honour me the same 2.5% rate that Hubert offers and if they don't, then swoosh! there goes my $ over to Hubert!

Cheers!

I just recently worked out that over the last four years of haggling, frustration, and hour-long waits on hold with Tang, including a period when i just couldn't be bothered, we've averaged 2.35% on HISA with them. I really can't complain, although it did take work and a certain amount of cunning - with a little help from my friends here. I am literally thousands of dollars richer than I would otherwise have been (even after taxes and CPI, pace Bill). Thx to all who have shared!

Still, I don't expect it will last indefinitely, and I much prefer the customer service at most of the credit unions, not to mention the 3.75% and 4% GIC deals at Meridian and Ganaraska.

Somebody on this forum said a couple of years ago that Tangerine had increased the number of possible links. I have not verified this, but perhaps it's worth inquiring, if it matters to you.

The best promos might be offered by their Marketing Department (such as 3.25% for a 1 year GIC). Try phoning 1-888-600-9890 (for example ext. 55322 or 51168).

Does anyone have any insight into why, unlike Tang, Simplii Fin. doesn't offer anything beyond their (so called) HISA for TFSAs ?

For non-registered funds they seem to have similar rates for various GICs, and since Simplii surely considers Tang. a direct competitor, its a mystery to me why they don't offer more options for TFSA customers ? When I've asked about it, all I get is "Maybe sometime in the future..." Duh!