Tangerine new deposit offer: 1.50% between April 8 and August 31, 2021 | Page 2 | Tangerine Bank | Discussion forum

I had GICs come due early April and asked about the promotion. I was told it was only new money. They offered me instead 1.1% in their high interest savings for 5 months (1% bonus on the 0.1% savings) At first they wouldn’t offer to my spouse but I escalated to the manager and got the 1.1% for both of us. I’m looking for other options to park these savings including a few ontario based credit unions. Also pulled out all my money from Scotiabank as they only offered .79%. Moved it to Talka in Hamilton at 1.5% (sorry - only for ON residents).

I agree about the waste of time involved by everyone with such Mickey Mouse gimmicks.

I may be old fashioned, but I try to be loyal. My expression of loyalty is to give my business to family, friends, and then current commercial contacts, first. If they cannot match market rates/prices, then I go outside my circle of contacts.

In business, I expect (hope) the same in return. I consider it an extension of simple courtesy. So, I try to give my established relationships the benefit of the doubt by allowing them to match competitor offers before I leave.

Some may be offended, but some appreciate the effort was at least made (instead of just disappearing into the ether.) I try not to have or leave hard behind feelings. It's just business.

Never heard of Tangerine calling to solicit.
Looks like times are changing.

I am also tired of calling them and long wait times and after that being given some b*&^%$#t to not extend the promotion. So I have stopped calling them, I quietly move my money out when the offer expires and be done with them.

If everyone starts to do that, may be they will stop discriminating and outright lying that so and so is the max we can give you or there are no promos for you.

I didn't find a separate thread for the 2.1 % for 5 mts at Tangerine, so I'm posting this here:
https://www.tangerine.ca/en/landing-page/earnmore

It seems its open to anyone who hasn't had a previous account with them, which my wife and I have not. Most of what I've read on the forum re Tang, is the good rates are by Invitation to existing clients, yes ?

Having just begun dealing with EQ, with joint HISA and TFSAs, is it worth pivoting to Tang for the diff in EQ, 1.25% [1.5% 3mth GIC] vs Tang's 2.1%, for the 5 mths ?? Wondering what the likelihood is that we'd get a continuing offer good enough to retain us, without begging, which doesn't work anyway.

I guess I'm just looking for comments, pro and con, from folks who've dealt with Tang for some period of time. Thanks

Jim Sherat said
Wondering what the likelihood is that we'd get a continuing offer good enough to retain us, without begging, which doesn't work anyway.

I guess I'm just looking for comments, pro and con, from folks who've dealt with Tang for some period of time. Thanks  

I have been with Tangerine and ING from the start.
A few years ago I stopped to play Tangerine games, not accepting Tangerine promos.
Tangerine sending to me about 1/2 of all available promos mentioned here, sometimes even 2-3 promos in the row.
For example, I got 2 last offers including this one, but I proudly pressed "Dismiss" button.

Everyone has their own level of tolerance, but I think it is worthwhile for the 2.1% at Tang. To me, it only happened to me twice and I would gladly do it again for such a rate differential.

You are right that sometimes CDIC limits must be temporarily breached but afterwards, there are plenty of similar accounts to which you can re-distribute funds. For example, Neo, CTire, Bridgewater, and Wealth1 are all giving about the same 1.45-1.55 rate at the same time. So, that is $400K (or $800K if you have a joint participant.) You can also drop some at Achieva CU for 1.55% GIC 12-mo. To me, that seems like plenty of coverage.

It's the age-old mystery as to what makes Tang's algorithms tick. However, it's my impression and experience that after a few years they just get tired of us because they have not been able to induce us to expand our business with them any further. They'd rather try with a newer customer.
I can't say this makes a lot of sense to me, but it's all I can make out of it. I think their goal is for us to make them our primary bank, complete with active credit card, PADs, TFSA, GICs, maybe mutual funds, and, importantly, growing deposits.
If you've had five consistent years of offers from them, I think you've done very well, but the party is probably over for at least the foreseeable future.

My current offer of 1.75% at Tangerine runs from Feb 9th - June 30th. I plan on moving the funds to another bank before June 30th. Maybe the offers are down to a maximum of 2 per year.

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I have a very simple arrangement with Tangerine . . .

If they don't give me special offers, they don't get my money.

So far, it's worked out just fine.

Dean

My 1,5% offer just ended now September 1st and at 00h01 all my money was gone to Alterna. Tangerine will be back with an offer within one to two months. I play their game.