Tangerine Retention Rates Q4 (Oct 4) 2017 | Page 7 | Tangerine Bank | Discussion forum

rhvic said

Joebart, if I saw $225 laying on the sidewalk, I would bend over and pick it up. Heck, I even pick up nickels and dimes! My money goes to the highest rate (up to the deposit insurance level for that FI)  

No need to bend over I have already picked it up. 🙂

My wife and daughter both got the same 2.75% offer. Neither has had any activity in their accounts in the last quarter. Their balances are $5000 and $10.

Seems too bad for me as this is the first time I have NOT received ANY offer. Always received them in the past, and usually the highest rates offered (in Ontario). So sad.

Good thing I removed my $, though they did offer a retention rate of 2.5% when I had to call in. Oh well...not a big loss.

I emptied my Tang savings account ~450K (transferred to EQ from EQ end) on Oct 2. I was receiving the promotional rate of 3.22% at Tang up to Sep 30. At 1 PM today, I received this e-mail offer from Tang for 2.75% Oct 4 to Dec 31.
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Full Offer Terms and Conditions - General
The Tangerine Bank (the “Bank”) Savings Interest Offer of 2.75% (the “Offer”) is available to existing Tangerine Clients who: (1) receive the Offer by email directly from the Bank; and/or (2) receive a notification that they are eligible to participate in the Offer when they log in on the Bank’s website (“Eligible Clients”).
The Offer is only available to Eligible Clients between October 4, 2017 and December 31, 2017(the “Offer Period”).
The Offer is only applicable to Tangerine Savings Accounts (“Savings”), Tangerine Tax-Free Savings Accounts (“TFSA Savings”) and Tangerine RSP Savings Accounts (“RSP Savings”) (herein referred to collectively as “Applicable Accounts”) where the Eligible Client is the Primary Account Holder as described in Section 17 below. A number of similar Applicable Accounts (for example, 3 separate TFSA Savings) is defined as an “Applicable Account Type”. The Offer is not applicable to any other Accounts, including (but not limited to) Tangerine RIF Savings Accounts (“RIF Savings”), Tangerine US$ Savings Accounts, Tangerine Business Savings Accounts, Tangerine US$ Business Savings Accounts, Tangerine TFSA Kick Start or Tangerine Children’s Savings Accounts (“CSA”).
“Additional Interest” is 1.75%. During the Offer Period, the Bank will calculate Additional Interest for new deposits to Applicable Accounts each time the sum of the daily balances in each Applicable Account exceeds the corresponding Applicable Account Type balance as at October 3, 2017 to a maximum of $500,000 per Applicable Account Type (“Eligible Deposits”). Additional Interest will only apply to net new Eligible Deposits that raise the Applicable Account Type balance above the October 3, 2017 balances and the balances in an Applicable Account Type that are equal to or less than the Applicable Account Type balances as at October 3, 2017 will not earn Additional Interest.
All balances in Applicable Accounts that are not eligible for Additional Interest will be paid the Bank’s applicable posted rate of interest listed on the Bank’s website (the “Posted Rate”).

FMC, no, my comment had nothing to do with your post - I was just looking at all the offers and reactions and it came to mind as a general comment.

moneyhelp said
Received 2% from my summer 2.97%. Kinda sucky that it went down, but still better than Achieva or Hubert's 1.85%, so looks like I'll be sending my money back to Tangerine, to enjoy the incredible 2%

Question. Does anyone think if I called in the rate might be better?  

I think it probably couldn't be worse. Never hurts to ask.

Loonie said

The Big Banks do offer pre-authorized debit, but only for paying bills.

They will have to do it eventually, I expect, because they are becoming increasingly peripheral to the needs of increasing numbers of Canadians. Or maybe they will get out of the savings/chequing/debit business altogether. Most likely they will keep taking over the smaller banks and dilute their value to us.

Those utility or property tax bill pre-authorized debits are actually pulls originating from the biller's bank. We provide the utility company or the municipality with the transit, institution, and account number of our bank account for them to set the PAD up.

For some reason, they created a new method, Interac e-Transfers, for personal use instead of just letting us initiate direct deposits and PAD's as the online banks do.

moneyhelp said
Received 2% from my summer 2.97%. Kinda sucky that it went down, but still better than Achieva or Hubert's 1.85%, so looks like I'll be sending my money back to Tangerine, to enjoy the incredible 2%

Question. Does anyone think if I called in the rate might be better?  

Isn't that a waste of time ? The difference between the the two offers would only be about $ 37 per $100,000 for the entire 90 day promo period.

In the summer I moved my money out of Tangerine and into Eq Bank for 2.3% and Tangerine sent me an email offering 2.3%.This time I moved money out of Tangerine into Duca for 2.75% and now Tangerine sends an email offering 2.75%.

The email offer arrived at 7am this morning. I'm in AB.