Targeted offer to some customers from Tangerine including on US Funds: 2.75% on new deposits until November 30, 2019 | Page 2 | Tangerine Bank | Discussion forum

Good said
They must be losing business. Manulife Bank is still better at 3.25% for 6 months. Plus you are not restricted to three linked accounts like Tangerine  

I have 1 account linked to ML but attempts to link anything else fails. So, I'll use the 3.25% for a while and then go elsewhere ...

BTW, the initial setup is kind of slick ...

implode said
Check your USD account and see what it says. Chances are unlikely you have the promo rate of 2.75% on your USD account.  

So, I don't have a US account with them. I hold my US cash at Hubert since they have the best (consistent) rate. However, 2.75% for 6 months, I wouldn't mind transferring it, however, the 2.75% I'm currently on I've been on for a few months now which ends the same day as this current promo.

I contacted Tangerine (via chat) and asked if I could take advantage of this US rate if I opened a US account, and they, not surprisingly, said no.

She did, however, say that she will make a note on my file that I am interested in a US account with a special offer, so hopefully that will one day offer me the same (or better) promo rate, we'll see.

dougjp said
Like Vatox, I feel like taking an offer now may negate what might be made available later. And as their current offer is nothing special and not needed, I'll get interested again in seeing a highly competitive offer from them, or someone, around October or perhaps September.

Last time around I was given a rate lower than others with similiar balances on the same date, and naturally that treatment still doesn't sit well with me.  

I am curious to know if there are many others "not accepting" the offer ? Or, accepting the offer, but not moving any money to Tang ?

With some other FI offering better rates, but quickly putting a limit to $100K (ex: DUCA, and now Manulife), obviously, they get huge flow of money in with their 3%+ rate !

Kidd said
Alain, i DID activate tangerine's 2.75% offer.  I have not moved any new funds into that savings account but i will be, when a gic matures in August.  Until then my balance is $400 making 1.2% because it's old money... not new money.  

Was that the 2.75% including US account funds or was that the "new" client promo rate?

I dont think there is any harm to activate the offer even if your intention is not to move money in. Very very slim chance they will offer anything better than 2.75%.
The USD 2.75% is the reason I accept and move some $ over. Thats the best rate and an area where CU wont touch as there is no funding need in USD for them.

Good said
I received a offer also yesterday 2.75 % on new deposits .Also on US and Tax free accounts From July 11,19 tell December 31,19. Activated it.

Lots of competition .They must have lost deposits as promotions ran out for other customers and they moved their deposits.  

I just noticed my offer as well. I don't check the account daily so I don't know when I got it.

Good said
I received a offer also yesterday 2.75 % on new deposits .Also on US and Tax free accounts From July 11,19 tell December 31,19. Activated it.

Lots of competition .They must have lost deposits as promotions ran out for other customers and they moved their deposits.  

Looks like Tangerine is almost doing targeted offer in monthly waves now. From forum thread subjects, there was one in March, April, then June. Now July. I think the July offer should also be in its own thread.

. . . May be I'll get lucky in August

Tangerine hit a new low with me today.
I was offered 2% on existing or 2.75% on new.

However, here's the kicker: They would give me 2.75 on existing IF I would carry a balance of $250,000!!! (yes, that's two hundred and fifty thousand.) This is asking me to deposit beyond CDIC limits! I just about spilled the proverbial coffee all over myself (I don't actually drink coffee.) I never have, and I never will give them 250K. For $250,001, I can get 2.85% at Steinbach CU and have it ALL insured, although I'm not planning on doing that either. I can also get 2.85 at Luminus for six months if I wish, but not keen on Luminus based on past experience; or 2.8 at Motive. The Tangerine money will go to one of these, I think.

Consequently, I moved ALL my personal money out of Tangerine as there are endless places where I can get a better rate than 2.0%! I've never done this before. Spouse is getting 2.75, so I moved my joint account deposits to spouse's joint account, total still within CDIC.
It will be interesting to see if and when I ever get another offer. In the meanwhile, I will be relieved of the huge nuisance of talking to them.
Even this much took two phone calls, about a half hour on hold, and neither of the people I spoke to spoke clear English, plus they both made several errors in what they told me. I had to ask them to repeat things more times than I could count.

As an aside, some of us have noted that the mortgage business seems to be pleading for customers and that the banks are awash in deposits. That being the case, (presumably), why are Steinbach and Tangerine offering top rates only for very large deposits? Surely they wouldn't need to offer this incentive if they had enough of our cash; I would expect, instead, that they would offer a consistent rate or even a lower rate for higher amounts, which would not be unprecedented.