Personal Finance

The 3 Month Tangerine Lottery thread

  • Last Updated:
  • Apr 20th, 2018 11:50 am
Sr. Member
Apr 23, 2008
625 posts
47 upvotes
JPRUEFER wrote:
Jan 3rd, 2018 9:59 pm
The balance snapshot was done at the end of the day on Jan 2, so you're fine.
I am on the same boat, money was out to EQ on Jan2 , how to confirm snapshot was taken at the end of Jan 2?
If this is not clear I may just move all money to Simplii from EQ one the hold at EQ is lifted.
Thanks
Member
Jul 25, 2010
416 posts
132 upvotes
Vancouver
Nice, here are the full ToC, and yes it includes moving from a Tangerine chequing account.

Full Offer Terms and Conditions

General:

The Tangerine Bank (the “Bank”) Savings Interest Offer of 2.50% (the “Offer”) is available to existing Tangerine Clients who: (1) receive the Offer by email directly from the Bank and/or receive a notification that they are eligible to participate in the Offer when they log in on the Bank’s website (“Eligible Clients”) (2) “Activate” (as defined in Section 4 below) the Offer by January 31, 2018 and (3) receive a Confirmation in their online Inbox that the Offer has been successfully activated.
The Offer is only available to Eligible Clients between January 3, 2018 and May 31, 2018 (the “Offer Period”). If the Offer is not Activated between January 3, 2018 and January 31, 2018, Tangerine Clients will not be eligible for the Offer and will not receive Additional Interest.
The Offer is only applicable to Tangerine Savings Accounts (“Savings”), Tangerine Tax-Free Savings Accounts (“TFSA Savings”) and Tangerine RSP Savings Accounts (“RSP Savings”) (referred to collectively as “Applicable Accounts”) where the Eligible Client is the Primary Account Holder as described in Section 17 below. A number of similar Applicable Accounts (for example, 3 separate TFSA Savings) is defined as an “Applicable Account Type”. The Offer is not applicable to any other Accounts, including (but not limited to) Tangerine RIF Savings Accounts (“RIF Savings”), Tangerine US$ Savings Accounts, Tangerine Business Savings Accounts, Tangerine US$ Business Savings Accounts, or Tangerine Children’s Savings Accounts (“CSA”).
To “Activate” the Offer, the Client needs to perform one of the following actions by January 31, 2018:

Click the ‘Activate Now’ button in the Offer email that the Client has received directly from the Bank; or
Click the ‘Activate Now’ button on Tangerine’s website once the Client has logged in; or
Open an Applicable Account; or
Verbally accept the Offer during a conversation with a Tangerine Contact Centre Associate.
“Additional Interest” is 1.50%. During the Offer Period, the Bank will calculate Additional Interest for new deposits to Applicable Accounts each time the sum of the daily balances in each Applicable Account exceeds the corresponding Applicable Account Type balance as at January 2, 2018 to a maximum of $500,000 per Applicable Account Type (“Eligible Deposits”). Additional Interest will only apply to net new Eligible Deposits that raise the Applicable Account Type balance above the January 2, 2018 balances, and the balances in an Applicable Account Type that are equal to or less than the Applicable Account Type balances as at January 2, 2018 will not earn Additional Interest.
All balances in Applicable Accounts that are not eligible for Additional Interest will be paid the Bank’s applicable posted rate of interest listed on the Bank’s website (the “Posted Rate”).

Additional Interest:

Additional Interest is added to the Posted Rate to calculate the total amount of interest payable under this Offer (For example, if the Posted Rate were 1.00% and the Additional Interest were 1.40% then: Additional Rate of 1.40% + Posted Rate of 1.00% = Offer of 2.40%). Any change to the Posted Rate will result in a corresponding change to the Offer. Additional Interest and/or Posted Rates may change at any time without prior notice. Eligible Clients will receive the Offer in two separate interest payments, one based on the Posted Rate and a second based on the Additional Interest rate.
Subject to the limits and qualifications outlined in these Terms and Conditions, Additional Interest will be calculated daily and paid monthly on Eligible Deposits made during the Offer Period into Applicable Accounts that were opened prior to the Offer Period, as well as Applicable Accounts that were opened during the Offer Period. For the purposes of this Offer, net new Eligible Deposits are determined based on the source of the funds, type of transaction, and the amounts relative to combined balances across all Applicable Account Types. Although all Applicable Account Type balances are used to determine whether a deposit is eligible for Additional Interest, Additional Interest is paid at the individual Account level based on the duration of time the Eligible Deposits are in each Applicable Account.
Example 1: Eligible Client has $10,000 in their existing TFSA Savings on January 2, 2018. Five days later, they transfer $5,000 to a new TFSA Savings from their Tangerine Savings Account. They also transfer $5,000 from their existing TFSA Savings to a TFSA GIC. The total of the balances in the TFSA Savings remains $10,000 after completing the transfers. Therefore Additional Interest doesn’t apply to the transfers to the TFSA Savings.

Example 2: Eligible Client has $10,000 in their existing TFSA Savings on January 2, 2018. Five days later, they transfer $10,000 to their existing TFSA Savings from their Tangerine Savings Account. They also transfer $5,000 from their existing TFSA Savings to a TFSA GIC. Their balance in the TFSA Savings is $15,000 after completing the transfers. Additional Interest will apply to $5,000 of the new deposit to the existing TFSA Savings.

Example 3: Eligible Client has $10,000 in their existing Tangerine Savings Account on January 2, 2018. Five days later, they open an additional Tangerine Savings Account and transfer $5,000 from their existing Tangerine Savings Account. Their Applicable Account Type balance remains $10,000 in total between both Tangerine Savings Accounts. The transfer to the new Tangerine Savings is not eligible for the Additional Interest because it does not qualify as a net new Eligible Deposit.

Eligible Deposits to TFSA Savings and RSP Savings Accounts are subject to the limits imposed by the Canada Revenue Agency (the “CRA”). The Eligible Client is fully responsible for monitoring their individual contribution limits and ensuring any and all deposits fall within these set CRA limits. Individual TFSA contribution limits can be found on the CRA website at cra-arc.gc.ca. The RSP contribution limit is as noted on the Eligible Client’s Notice of Assessment issued by the CRA. The Eligible Client further agrees to at all times indemnify and hold the Bank harmless in respect of any such penalties or charges imposed upon the Eligible Client as a result of these imposed limits.
Subject to the imposed CRA limits on Tax-Free Savings Accounts and RSP Savings Accounts, Additional Interest will be paid on the first $500,000 of Eligible Deposits made to each Applicable Account Type. No Eligible Deposits or daily balances to which Additional Interest would otherwise qualify will be greater than $500,000 across each of the Applicable Account Types (i.e. $500,000 across all Tangerine Savings Accounts, $500,000 across all Tangerine Tax-Free Savings Accounts and $500,000 across all Tangerine RSP Savings Accounts). Any balances greater than $500,000 per Applicable Account Type will earn interest at the applicable Posted Rate of interest payable.
The following transactions will be considered Eligible Deposits to which Additional Interest will apply:

Money transferred from a Tangerine Chequing Account to an Applicable Account.
Money transferred from another financial institution, including the Eligible Client’s linked account, to an Applicable Account.
Money transferred by Tangerine Email Money Transfer or Interac e-Transfer to an Applicable Account.
Money transferred from a Savings Account into an Applicable TFSA Savings or RSP Savings Account.
Money transferred from a US$ Savings Account into an Applicable TFSA Savings or RSP Savings Account.
Money transferred from a TFSA Savings or RSP Savings Account at another financial institution to an Applicable TFSA Savings or RSP Savings Account.
Notwithstanding the above, the following are not considered to be Eligible Deposits and will not be eligible for Additional Interest:

Transfers or money deposited into RIF Savings, CSA, Business Savings Account, US$ Savings Account or US$ Business Savings Account.
Money transferred from a Bank GIC, Investment Fund or Line of Credit to an Applicable Account.
Transfers made to any new RSP Savings Account from an existing RSP Savings Account or RSP GIC resulting in no change to the total Applicable Account balances in RSP Savings from January 2, 2018.
Money deposited into an RSP Savings Account and then transferred into a RSP GIC resulting in no change to the total Applicable Account balances in RSP Savings from January 2, 2018.
Transfers made to any new TFSA Savings Account from an existing TFSA Savings Account or TFSA GIC resulting in no change to the total Applicable Account balances in TFSA Savings from January 2, 2018.
Money deposited into a TFSA Savings Account and then transferred into a TFSA GIC resulting in no change to the total Applicable Account balances in TFSA Savings from January 2, 2018.
Money transferred from an RSP, TFSA or RIF Account to any Applicable Account.
Money transferred from a CSA to an Applicable Account.
Direct or Indirect transfers from Tangerine Business Savings Accounts and Tangerine US$ Business Savings Accounts to Applicable Accounts.
Additional Interest will not be paid on transfers to external accounts that are subsequently deposited back into one or more Applicable Accounts, unless such deposits increase the sum of Account balances per Applicable Account Type above the sum of these balances as at January 2, 2018. In such case, only the portion of the transfers that puts the sum of these Account balances above their sum on January 2, 2018 may be eligible for Additional Interest.
Additional Interest will not be paid and will not be payable until the start of the month following the month in which it was calculated. The Client must have satisfied all conditions outlined in Section 1 above including receiving confirmation that the Offer was successfully activated in order to be paid Additional Interest. The Bank’s applicable Posted Rate of interest will be paid to that Applicable Account on the last day of the month, and any Additional Interest will be paid to that Applicable Account on the first day of the following month. Any Applicable Account closed prior to the payment of Additional Interest will forfeit any Additional Interest calculated during the month in which the Applicable Account is closed.
Any interest paid into an Applicable Account, including Additional Interest, will not be treated as a new deposit for subsequently calculating Additional Interest payments.
After the Offer Period ends, all balances will earn interest at the Posted Rate payable on the Applicable Account.

Eligibility:

This Offer is non-transferable and is only for Eligible Clients. Clients who receive the Offer and/or these Terms and Conditions from any source other than the Bank, and who are not Eligible Clients as described in Section 1 above, will not be eligible for this Offer.
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 Account and is listed second on the statement for that Account), the Offer will not be applied to that particular Account. Where money is transferred from an Account where the Eligible Client is listed second on the statement to an Applicable Account where the Eligible Client is the Primary Account Holder, that transfer will be eligible for Additional Interest.
Applicable Accounts opened prior to January 2, 2018 are eligible for Additional Interest on the sum of daily Applicable Account Type balances that exceeds the sum of closing Applicable Account Type balances as at January 2, 2018.
Eligible Clients who have an open Applicable Account prior to January 2, 2018 may open a new Applicable Account, however, only balances that exceed the sum of the closing Applicable Account Type balances as at January 2, 2018 will be eligible for the Additional Interest.
This Offer cannot be combined with other promotional rate offers.

Limitations:

If the Bank is unable to run the Offer as planned for any reason, including infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes beyond the reasonable control of the Bank which corrupt or affect the administration, security or proper conduct of this Offer, the Bank reserves the right at its sole discretion to, without advance notice, terminate or suspend the Offer, in whole or in part, or modify it in any way.
The Bank reserves the right at its absolute discretion to vary, delete or add to any of these Terms and Conditions from time to time without prior notice.
The Bank reserves the right to withdraw the Offer in whole or in part, or to vary any of these Terms and Conditions at any time and from time to time without notice at its absolute discretion. The Bank reserves the right to end the Offer earlier or to extend the Offer Period further at its absolute discretion.
The Bank reserves the right, at its sole discretion, to suspend, disqualify, limit or revoke this Offer to any Account holder it finds or believes to be manipulating or otherwise abusing the process, fairness, or integrity of the Offer.
This Offer may be suspended, modified or withdrawn at any time without notice for any reason including, but not limited to, an error or mistake on behalf of the Bank.
To the extent that these Terms and Conditions are inconsistent with any other communication, advertisement, promotional material, or statement, whether written or oral, (collectively a "Message") from the Bank, these Terms and Conditions will supersede all other Messages.
You agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice regarding this Offer is deemed to be provided on the day it is posted on the Bank's website.
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Jul 4, 2004
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ilusa wrote:
Jan 3rd, 2018 2:54 pm
Called in they offered 1.6% for 90 days..
With a rate offer like that it looks like they're trying to get rid of your business. How could they possibly offer (and expect) a low interest rate offer like this be accepted when competitors such as, EQ and Simplii are offering 2.3% and 3% respectively? Have they lost their minds?
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Deal Fanatic
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Apr 9, 2006
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GT-EH
Seems like most people got 2.5% and no more this time.

Can't move my money anyways as my PADs have not totally cleared EQ (balance still on hold).

Will check again tomorrow after work - it should clear by then if not Friday.
I just like to collect things! ¯\_(ツ)_/¯
Behold, true glory. #PCMasterRace!
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Jul 4, 2004
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I didn't activate the Tangerine offer, I just initiated a transfer to Simplii for the rest of what I have and will keep just enough money at Tangerine to pay bills. I **might** call in later on in the week when the dust settles to see if they would consider matching Simplii's 3% offer (to get the 6 month offer). I have MF's, credit cards with Tangerine but am not optimistic.
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Deal Addict
Sep 7, 2004
1391 posts
304 upvotes
Toronto
Frankie3s wrote:
Jan 3rd, 2018 11:32 pm
I didn't activate the Tangerine offer, I just initiated a transfer to Simplii for the rest of what I have and will keep just enough money at Tangerine to pay bills. I **might** call in later on in the week when the dust settles to see if they would consider matching Simplii's 3% offer (to get the 6 month offer). I have MF's, credit cards with Tangerine but am not optimistic.
Let us know how it goes and good luck. From previous posters history it seems like Tangerine will never come close to matching offers. The best "retention" or "match" offers people have reported have been 1.6% or 2.5%. Haven't seen many people report higher than that, also with high balances and multi-products.
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May 7, 2007
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Was on 2.5% promo (on the entire balance) until Jan. 27, 2018 ...

Saw all the commotion here .. and called in to see what else could be offered to me if anything ...

Rep ended up extending my 2.5% promo (on the entire balance) by 90 days ... till April 27, 2018, I believe (or something like that).

Most of my money currently ------- at Simplii ... for their 3% promo till end of February, 2018
Deal Addict
Nov 4, 2007
1023 posts
197 upvotes
Toronto
Can someone explain how one goes about getting these rates as a new tangerine customer? Thanks
Deal Addict
Mar 8, 2013
1736 posts
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Wpegger wrote:
Jan 3rd, 2018 10:03 pm
I moved my money on 29th to Simplii. Is it better to leave it with Simlii until end of February (when Simplii promo is done) and move to Tangerine or move it right away.
Somewhere I read that simplii bonus interest is calculated on the average balance over the whole promo period.
The way that bonus interest is calculated (and deposited) is slightly different for Simplii and Tangerine, but the important factor is 3% vs 2.5%. Since you already have your money at Simplii, you are clearly better off to leave it there, but activate the Tangerine offer before Jan 31. For sure there will be lots of discussion here about what to do as the end of the Simplii promotion Feb 28 approaches.
Sr. Member
Oct 22, 2015
778 posts
186 upvotes
Darkman wrote:
Jan 4th, 2018 12:03 am
Was on 2.5% promo (on the entire balance) until Jan. 27, 2018 ...

Saw all the commotion here .. and called in to see what else could be offered to me if anything ...

Rep ended up extending my 2.5% promo (on the entire balance) by 90 days ... till April 27, 2018, I believe (or something like that).

Most of my money currently ------- at Simplii ... for their 3% promo till end of February, 2018
Didn't know they could future date an extension, don't they usually extend from the day you ask for it.
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Nov 19, 2004
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I guess I didn't get everything out in time for Jan 2. Oh well. Off to EQ then and will sit this one out.

Actually, I just checked and didn't even get an offer.

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