Tangerine - January 2020 Offer | Page 4 | Tangerine Bank | Discussion forum

cruzinalong said

When interest rates crashed last month I removed most of my money. Bonus or no bonus. I received no bonus interest for May. My income is deposited automatically to Tangerine. Money comes. Money goes. One friend says it seems to go faster than it comes. I like the Alert feature. Get an email when money is withdrawn/deposited.  

Transfer funds out, the transfer is initiated by about 1:30AM the next business day. It arrives at external account the same business day. Transfer USD funds out, it takes two business days to arrive. I have no USD.

guzman said
Can anyone give some insight on this.
I have a Tangerine HISA with a promo rate of 2.3% that expires at the end of this month. My wife just signed up for a Tangerine savings account and can get a bonus interest rate (2.5%) for 5 months. Neither accounts are joint. Can I simply transfer the money from my account to hers so we can earn this rate? What's the best method of going about this? Thanks in advance 🙂  

Yes you can

guzman said
Can anyone give some insight on this.
I have a Tangerine HISA with a promo rate of 2.3% that expires at the end of this month. My wife just signed up for a Tangerine savings account and can get a bonus interest rate (2.5%) for 5 months. Neither accounts are joint. Can I simply transfer the money from my account to hers so we can earn this rate? What's the best method of going about this? Thanks in advance 🙂  

Eh... write a cheque to her? She can deposit it through smartphone app.

I know it is old fashioned way of doing things, but if you've got checkbook from Tangerine when you opened an account, you could finally put it to use.

gicjunkie said
Why don't you ask your wife to open a joint account with you? Then you will have 2 accounts with the higher rate and you can use it as a transfer vehicle or for additional savings.  

Those two joint accounts,together, only qualify for 100K CDIC. I just mention this because it can be easy to get confused - I did!

OK. I may have misunderstood. I think I was just thinking ahead to the next step I would take.

You can open 2 joint accounts, one in each name as primary, and then push the money back and forth between them according to who has the better offer, just as long as they don't exceed 100K altogether. If you're going to open one, might as well open both. I was able to do this profitably once.
At one time, Tang told me that they would give the same offer to both parties in a couple, but they have not stuck to that.