Targeted offer - 5.5% on new money from Jul 4th till Nov 30th, 2023 | Page 4 | Tangerine Bank | Discussion forum

enzohu said

If I deposit additional money into my exisiting savings account, will those money get 5.5%?  

If you have a 5.5% offer which you said you didn't get.

The 5½% offer is targeted and not given to everyone.

One is not going to be paid 5½% on new deposits unless one has received an offer invitation and activated:

1. The Tangerine Bank (the “Bank”) Savings Interest Offer of 5.50% (the “Offer”) is available to existing Tangerine Clients who: (1) receive a communication about the Offer directly from the Bank, (2) “Activate” (as defined in Section 4 below) the Offer by July 31, 2023, and (3) receive a confirmation to their online Tangerine Account Message Board that the Offer has been successfully activated (“Eligible Clients”).

The offer is for certain "existing Tangerine Clients". I suspect not everyone is invited because the offer is a marketing exercise and there isn't the marketing budget to pay every existing client 5½% for new deposits.

enzohu said

Correct, I didn't get the 5.5% offer. my current offier is only 5% extension until end of Sept. Wondering how come some people get it and some don't? Is it because the 5.5% offer not available to existing account holders?

While on an existing offer, I've never received a new one (extensions yes, but never a new and improved one).

Receiving a new Tangerine offer seems to be the luck of the draw for most people, as documented here in several threads.

RetirEd said
The people most likely to have an easy and profitable time with them are new customers who make one big hit and never come back.

They never made me an offer through more than 15 years with them, and when I called in to ask I'd get at least 2% less than what others got.
RetirEd  

I am with Tangerine (ING Direct) since 2012. I am getting between 1 and 3 promo offers every year.
When promo ends, I always move all funds out. I am currently on 5% promo that were extended till September 30. My money will leave Tangerine just before September 25th.

I never call banks for promo rates, Tangerine included.

I got this targeted offer but want to make sure i understand the following terms correctly, if i move funds from a saving that i am listed as secondary to the saving that i am listed as primary is that transfer funds qualified for the promo rate? Thanks.
one more question, does anyone know if withdraw from rrsp saving account to chequing can be done via tang online banking? Thanks.

" Where money is transferred from an Account where the Eligible Client is listed second on the statement for an Applicable Account where the Eligible Client is the Primary Account Holder, that transfer will be eligible for Promotional Interest"

The Offer is only applicable to Applicable Accounts where the Eligible Client is the person whose name appears first on the Bank statement (the “Primary Account Holder”). For Applicable Accounts where an Eligible Client is not the Primary Account Holder (example: the Eligible Client is not the Primary Account Holder on a joint Applicable Account and is listed second on the statement for that Account), the Offer won’t be applied to that particular Account. Where money is transferred from an Account where the Eligible Client is listed second on the statement for an Applicable Account where the Eligible Client is the Primary Account Holder, that transfer will be eligible for Promotional Interest.

Alexandre said

I am with Tangerine (ING Direct) since 2012. I am getting between 1 and 3 promo offers every year.
When promo ends, I always move all funds out. I am currently on 5% promo that were extended till September 30. My money will leave Tangerine just before September 25th.

I never call banks for promo rates, Tangerine included.  

Same here.

My only product complaint with TNG has been the need to make GIC's Joint by Phone. This then takes me to my service complaint: Frequently (though not lately) we experience excessive wait times and then frequently get problematic CSR's (especially lately).

karenspring said

Thanks, I just wanted to confirm transfer from saving that I am secondary to saving that I am primary qualifies for promo interest. Anyone knows if rrsp saving withdraw can be done online? Thanks.  

I have no idea on the RSP thing. Have you tried?

Not sure your getting the promo rate just check the account details tab for the applicable savings account.

A primary account holder may see this:
Interest Rate
Current Interest Rate 1.00%
Your special rate is active! Nice! You're earning a special interest rate of 5.50% on new deposits to this Account until November 30, 2023.

****************************************************
For the same account
A secondary account holder will see this:
Interest Rate
Current Interest Rate 1.00%

I received only 5.00% as an extension of an existing one.

cgouimet said

From end of June? Till when?  

Until the end of September.