Targeted offer - 5% on new money till June 30, 2023 (extended to September 30) | Tangerine Bank | Discussion forum

Thanks. Got the offer and will use it. I am not proud. Two months longer than the Simplii offer and Tang is nicer to deal with.

No 5% for me. I'm still on the old 4.75% (although I heard some people got 5%) promo until end of May.

Didn't get the offer. Called and was offered 3.75% for 150 days. I turned them down.

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I got that offer too, but I'm holding off on pulling the trigger just yet . . .

I can go for this short-term 5% SA offer, or ... I can go Long-term and lock-in that same 5% (or more) by investing in another GIC. Given that it looks like GIC rates have probably peaked, I'm leaning towards the Long-term option.

My future self may thank me

Dean

Also got this one. Sorta looks like a person gets every 2nd offer or so. They would not give the last offer over the phone, and said it was a random selection. But maybe after you call in, then the next offer might come in?

There are two kinds of offers, one by the phone folks when you call in and then those, like this 5% one, that are sent to selected clients by their marketing dept. Totally separate operations. The latter are usually their best rates.

I find if you call in and say you'd like to have money there but clearly their regular rate is not nearly competitive (they are forced to agree with you, good to start in agreement), do you have anything better?, then the phone folks usually give you some kind of offer, not usually near as good as the current marketing promo for targeted clients. So if you're super positive and grateful for whatever they offer you on the phone, and you make use of it, and you make no complaint about the top promo rate others might be getting, it seems to me you're in their good books and that seems to avoid the longs stretches of no offer of any kind for years that some folks on here refer to. I do think they red flag those who are only interested in being there if they're getting the absolute top rate, that's soon easily identified. Being in their good books gets you sporadic marketing promo offers assuming you're not already on another offer.

That's my best guess today, based on personal experience and reading what others here have said over the years.

I called for a promo rate and was only offered 3.75% for 150 days. My family member checked and got the 5% rate. So, I won't even bother asking for the same household rate. I'll just put it in a joint with my family member. What clowns.

I don't know this Ted Lasso fellow, is it good to be compared to him?

Question: Spouse has a Tang GIC maturing, her 5% offer legalese says "Money transferred from a Bank GIC.........to an Applicable Account" will not qualify for her 5% rate. A savings account is an Applicable Account. But legalese also says money transferred from a Tang chequing account does qualify. So if her GIC maturity instructions say to deposit the GIC funds into the chequing account, not her savings account, and then from chequing it's transferred into her savings account she should then get her 5% on the matured GIC amount. Does that sound right?

Yes, I think interest from a maturing GIC in a checking account is eligible. It is in the checking account and it is new money.