Tangerine Retention Rates/Winter Promo Q1(Jan) 2018 | Page 5 | Tangerine Bank | Discussion forum

savemoresaveoften said

To give an update, even tho I still have not received any email offer, I actually saw rates promotion under the "Insight" tab after I log in. Like others mine is also 2.5% until May31 and looks like they decided to just standardize the rate offer.

Their web site is a little quirky right now and I have to log out and log back in to see any changes I made (so as cancelling pending transactions etc). If you click on Activate offer more than once, it will show offer no longer avail but you can see it being added under ur profile/settings/ bonus.

Will see what Simplii does end of Feb given everyone has Tangerine 2.5% as a back up rate Mar thru May.  

Yes, also got the 2.5% offer. Unlike Tangerine and every other bank, Simplii only pays a minority of its interest monthly, so their offer rate at the end of February has to beat 2.5%, or be for a noticeably longer time frame than Tangerine, or they will lose massive deposits.

smayer97 said

Of course, Ideal has very restrictive limits for moving money in and out, to a max of $25K in/month and $10K out/month via Interac e-transfer only (other than via mail).
Details here: https://idealsavings.ca/extras/online-services/

Not "Ideal" for folks with larger sums to move.  

This is not my experience with Ideal! I have pulled monies from Ideal, and pushed it back to Ideal, from a number of institutions using the normal electronic funds transfer, up to 100K in one day! Interac is not your only option. Yes, setting up transfer accounts from the Ideal end is not good, but one can easily link to Ideal from other institutions (e.g. Tang, Hubert, EQ).

Yes the csr did say I was a rate chaser, I wasn't offended though, as some of my fellow bloggers have said on this topic, we are all rate chaser and do our homework to get a better return. It's all about the rate and we as a group are motivated to search it out or phone and ask for it. I'm going to take it as a compliment!

theodor said
Happy New Year all:

wanted to share that I received an offer of 2.5% for 3 months after talking to an agent at Tangerine. What I don't understand is the discussion about existing funds not qualifying unless they have been removed before a certain "snap shot" date?
I transferred funds from Scotiabank to Tangerine Chequing account January 2, 2018 and was surprised to see a good portion of the funds "on hold". I phoned and asked the agent why the hold when the funds came from their sister company Scotiabank and how I felt it unfair to not be able to earn interest. It was then the agent transferred the funds to our savings account at 2.5% interest for 3 months. When I read through the terms of the offer there is no mention of any existing funds being excluded from the promotion, certainly not the funds I had sitting in my chequing account as of January 2, 2018. Has Tangerine changed the terms?  

There are 2 different offers - the targeted one for 2.5% until May 31 for all savings accounts, including TFSA & RRSP, and the retention offer for 3 months typically only for non-registered savings.

Even though some of Tangerine savings account. It sounds as though you were not targeted for the May 31 offer. The CSR transferred your funds and effectively enrolled you for the 3 month retention offer, as far as I can tell.

DOES ANYONE KNOW WHERE TO GO ON TANGERINE'S SITE IN ORDER TO FIND OUT WHAT RATE YOUR ACCOUNTS ARE GETTING?

Got the same 2.5% Jan 3- May 31 targeted offer as those who received offers.

Although most of my money was already at Simplii, I essentially drained out 99% of the remainder from my expiring 2.75% Tang offer, in late Dec., just to be safe, as we never really know the 'snapshot' date until it happens.

Receiving targeted offer saved me from calling Tang to ask for a retention offer, although I am well served @ Simplii until Feb 28.

My wife called today, on hold for 35 minutes, got 2.5% retention offer for 90 days.

Based on past experience, Simplii won't make an effort to keep my money after Feb 28 but this general 3% promo for everybody is different so they might start playing the Tangerine-style game.

CHUCK21, if your wife and you each have your own savings account you each have to get your own offer from Tangerine. Sometimes they give an offer to one spouse and not the other. If a person gets an offer, it also applies to a joint account on which they are the primary holder.

2of3aintbad said
Simplii has been around only for a few months. What experience did you have? It may be useful for us to know as Feb 28 approaches.  

That's simply not accurate. This is their 20 year anniversary, or close to it, perhaps more than. They only underwent a name change and made slight changes in terms of account opening procedures.

Cheers,
Doug

fbeaulie said
I was planning on moving everything out on January 1st but I was away and I came back later than expected 🙁

I moved everything out to my Tangerine Checking account very early January 2nd.

I recall seeing questions as to whether or not it was "end of day" but I don't recall if someone had a definitive answer?

Thanks  

Deposit balances are captured start of day, I believe, even though your rate of interest is paid for the day is calculated on end of day balances. I believe you would be ineligible.

With the stat holiday, I think they likely planned this somewhat "early start" to their promo, thinking people wouldn't initiate a transfer till Dec. 29th or later to capture the extra several days of interest. You might get a retention rate but, as I spoke with Tangerine before, they said that they were "pretty sure" that the Marketing Department looks at people who've received "retention rates" in their determination of new promo rates or even new promo eligibility.

Those that transferred out on or before Dec. 28th would likely be eligible. 🙂

Cheers,
Doug