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Email this9:06 pm
October 4, 2018
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Vatox said
Yes, it’s just an extension, not a new promo! My money is staying. The csr’s are tards, I never call in.
Hi Vatox,
Thanks for the reply. You gave me some relief with this..lol. I guess I will just leave my money in there as well.
I hate how Tangerine operates. When my previous promo before this one ran out with Tangerine, I moved my money to Oaken Financial. Prior to moving my funds, I had called Tangerine to see if they could offer me a better more competitive rate before moving my money out and the CSR that I spoke with over the phone said that there was nothing they could offer me at this time. Then lo and behold just over a week after I move my money out of there, they offer me the current promotional rate that I'm currently on right now. Like you could have just saved me the time of transferring my funds out by just giving me the new promotional rate but I guess that's how they operate their business and or business model. I think they're banking (pun intended) on people forgetting about their promotional rate and then just leaving their money in there and getting stuck with a terrible interest rate.
I wonder if the CSR's are told to confuse the client on purpose. It's either that are they're just totally inept and from what people are saying on this forum it seems like the latter.
9:21 pm
October 4, 2018
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InterestThis said
It says right in the account, the offer is just extended to Sept 30. There is not one word about July 1, etc. The key is check your balance on Feb 1, that is the baseline."From February 2, 2023 to September 30, 2023, you’ll earn your special interest rate on new deposits over your total balances calculated on February 1, 2023 (up to $1,000,000† per Account Type)
My balance on February 1, 2023 was basically $0 if not $0. It wasn't until February 4, 2023 that I moved all my funds back in.
11:01 pm
April 14, 2021
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I think they're banking (pun intended) on people forgetting about their promotional rate and then just leaving their money in there and getting stuck with a terrible interest rate.
It's a common business model in other industries like online streaming subscriptions. It's common because it works.
3:17 am
September 11, 2013
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Yes, Top Dogg, as my Feb 1 balance was zero I'm getting 5% until Sept 30 on any money I choose to keep in my account. Maybe they'll extend it again, for me that would be the 3rd extension of the original offer.
6:24 am
October 4, 2018
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HermanH said
I think they're banking (pun intended) on people forgetting about their promotional rate and then just leaving their money in there and getting stuck with a terrible interest rate.
It's a common business model in other industries like online streaming subscriptions. It's common because it works.
Yup for sure. You can always count on people to fall asleep at the wheel.
8:21 am
February 7, 2019
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Yes Tangerine can be confusing and sometimes guilty of poor communications. There are others that don't even communicate rate changes, like EQ Bank.
That's why each of us have our own set of preferred FI's that we monitor routinely for rate changes and and special offers and the T&C's associated with them.
Kinda like monitoring Grocery flyers and posted prices and receipts to make sure we're in the right transactions.
Also, not all offers/transactions are equally attractive to all of us ...
| CGO |
9:39 am
November 5, 2022
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The CSR's are very hit and miss. Its better to just very carefully read the legal doc attached to each offer. Last year Simplii also extended and even raised the interest rate in the middle of an offer. So it can happen.
They could also lower the interest rate in the middle of an offer if they wanted to.
Was about to move the Tang deposits out, but with the extended offer will leave them there for now.
11:45 am
March 15, 2019
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I think Tangerine (or was it Simplii?) recently had something like 3-4 overlapping promos.
They should have just have one promo at a time open to all, like a sane institution.
12:19 pm
February 7, 2019
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COIN said
I think Tangerine (or was it Simplii?) recently had something like 3-4 overlapping promos.They should have just have one promo at a time open to all, like a sane institution.
TNG definitely have numerous offers in play. I'm OK with it all. I've been a willing participant in their games and I have profited nicely.
One issue with TNG is the variability in customer service; usually good but occasionally you get a really miserable CSR like I did last week. Which brings me to the other issue... The need to call in to complete the purchase of joint GIC's; if it weren't for that I wouldn't have experienced bad customer service.
| CGO |
12:26 pm
October 4, 2018
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cgouimet said
Yes Tangerine can be confusing and sometimes guilty of poor communications. There are others that don't even communicate rate changes, like EQ Bank.That's why each of us have our own set of preferred FI's that we monitor routinely for rate changes and and special offers and the T&C's associated with them.
Kinda like monitoring Grocery flyers and posted prices and receipts to make sure we're in the right transactions.
Also, not all offers/transactions are equally attractive to all of us ...
cgouimet: Your last statement is very true. I think most (such as myself) are looking for the best savings interest rate in the market at the time. If not the best, at the very least in the top 3 savings interest rates in the market.
12:33 pm
February 7, 2019
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Top Dogg said
cgouimet: Your last statement is very true. I think most (such as myself) are looking for the best savings interest rate in the market at the time. If not the best, at the very least in the top 3 savings interest rates in the market.
All true IMHO, not just the last bit ...
LOL
| CGO |
10:25 am
November 5, 2022
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The overlapping promos are just part of how it all works, as they are responses to changing market conditions, similar to GIC's. If the banks math tells them to bring in more savings, they raise the promo rate over a period.
It sure would be interesting to know how much savings money comes in when they do a promo. Its probably somewere in a disclosure.
But of course, they also want to get people to open an account, and then leave thousands in the account when the offer expires.
There are plenty of people with 80K just sitting in a crummy savings account.
11:32 am
December 22, 2022
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Last day for the promo. Tangerine is witnessing a mini bank run today.
11:43 am
November 3, 2022
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The Rock said
Last day for the promo. Tangerine is witnessing a mini bank run today.
Which direction is the bank run? In or out?
12:40 pm
December 22, 2022
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Rail Baron said
Which direction is the bank run? In or out?
Out. Alot of money being pulled this week.
1:00 pm
November 3, 2022
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The Rock said
Out. Alot of money being pulled this week.
I ran the other way, opening 2 GICs @5.5%.
1:16 pm
December 22, 2022
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Rail Baron said
I ran the other way, opening 2 GICs @5.5%.
Sweet. LBC Digital has 5.6% for one year.
https://www.lbcdigital.ca/investing/guaranteed-investment-certificates#gic-rates-table
2:27 pm
September 11, 2013
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TheRock, you didn't get an extension beyond June 30 at Tangerine?
2:44 pm
April 27, 2017
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The Rock said
Last day for the promo. Tangerine is witnessing a mini bank run today.
You have no basis for this claim.
9:30 am
September 30, 2017
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ertyu said on June 23rd
I have this promo and just got a notice they've extended mine till Sep 30
Since Tangerine didn't ask, I wonder is it possible to say NO to an extension & let the promo ends on June 30th. Normally there would be no reason to do so. But in a rising rate environment, people may want that choice of being released back to the lottery pool sooner.
... just saying in hind sight, I probably would have passively accept 
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