Personal Finance

The 3 Month Tangerine Lottery thread

  • Last Updated:
  • Jan 17th, 2019 2:54 pm
Deal Addict
Jan 21, 2014
3507 posts
1398 upvotes
I am taking my chances and not accepting the offer though my wife has already done so. Right now, our money is with Simplii so when it's at end of Feb, if I don't get anything, my money will go to EQ and my wife's will go to TING
Member
Mar 14, 2010
263 posts
115 upvotes
Toronto
mkl38s wrote:
Jan 5th, 2018 2:48 pm
I am taking my chances and not accepting the offer though my wife has already done so. Right now, our money is with Simplii so when it's at end of Feb, if I don't get anything, my money will go to EQ and my wife's will go to TING
Bad move. I suggest you ACCEPT this time-limited offer -( this option to activate the offer expires at the end of the month) but continue to keep your $$ in Simplii. At the end of Feb, put your money from Simplii back into Tangerine until the end of May, assuming Tang's offer is still competitive and Simplii's is not.

Accepting/activating the offer does not require you to move money in or keep existing funds in their account. It binds Tangerine to offer you the preferential rate until the end of May.
Deal Addict
Jan 21, 2014
3507 posts
1398 upvotes
pickles02 wrote:
Jan 5th, 2018 3:42 pm
Bad move. I suggest you ACCEPT this time-limited offer -( this option to activate the offer expires at the end of the month) but continue to keep your $$ in Simplii. At the end of Feb, put your money from Simplii back into Tangerine until the end of May, assuming Tang's offer is still competitive and Simplii's is not.

Accepting/activating the offer does not require you to move money in or keep existing funds in their account. It binds Tangerine to offer you the preferential rate until the end of May.
My hope is that TING may offer new competitive rate later when Simplii offers new one after Feb. If you are already in their 'contract' till May 31, I doubt if they will offer you a new and better rate. If TING is not offering anything then, I will call and see if they give me something higher than 2.3%. if not I will lose 0.2% for 3 months. After tax, it would be a small amount that I am willing to gamble
Deal Expert
User avatar
Aug 18, 2005
18137 posts
2829 upvotes
GTA West
mkl38s wrote:
Jan 5th, 2018 5:30 pm
My hope is that TING may offer new competitive rate later when Simplii offers new one after Feb. If you are already in their 'contract' till May 31, I doubt if they will offer you a new and better rate. If TING is not offering anything then, I will call and see if they give me something higher than 2.3%. if not I will lose 0.2% for 3 months. After tax, it would be a small amount that I am willing to gamble
This is something I thought of as well. But then I considered, 'a bird in the hand is worth 3 in the bush.'
IMO, better to lock in now rather than risking no future offer.
Will some of us be burned by this? Only time will tell.
What if there were no hypothetical questions?
Deal Addict
Oct 4, 2009
2200 posts
929 upvotes
Montreal
Jucius Maximus wrote:
Jan 5th, 2018 11:29 pm
This is something I thought of as well. But then I considered, 'a bird in the hand is worth 3 in the bush.'
I think you are overvaluing things that are in your hand.Face With Tears Of Joy
Member
Apr 5, 2017
297 posts
225 upvotes
Edmonton, AB
Won the Ting lottery, couldn't have been better timing. I'm locked in for the 2.5% now till May 31st 2018.
Deal Addict
User avatar
Apr 5, 2008
2208 posts
65 upvotes
Toronto
How can I tell if I moved my money out in time? I received the email for 2.5% for new money, but not sure if I withdrew in time to redeposit it back in.

Thanks.
Eat, Sleep & Breathe RFD!! :twisted:
Deal Guru
Jan 7, 2002
14359 posts
6733 upvotes
Waterloo, ON
asdisme wrote:
Jan 8th, 2018 7:54 am
How can I tell if I moved my money out in time?
1. You could call TING to get an official confirmation of what balance they consider to be your base for this promo.
2. Or you could ask here and hope that some random RFDer has better access to your account than TING does ;)
veni, vidi, Visa [!Brim]
Sr. Member
User avatar
Feb 1, 2012
873 posts
850 upvotes
Thunder Bay, ON
Or move a small amount back in now, then check if you get bonus interest on Feb 1.
Invest your time actively and your money passively.
Deal Addict
Jul 3, 2017
3402 posts
2295 upvotes
I've been playing the Tangerine lottery for a couple of years now, and I think people place way too much importance on moving their money around before and after the quarterly offer update.

I just leave my money right where it is in Tangerine Savings, and when the bonus interest expires I call them up and say "My bonus interest rate has expired and I'm planning to move my money out to (competitor with better rate) today, but I'm checking to see if you have a competitive offer.". They always offer me the same rate as the people that moved their money out.
Jr. Member
Jul 18, 2015
146 posts
106 upvotes
Vancouver, BC
Exp315 wrote:
Jan 8th, 2018 1:59 pm
I've been playing the Tangerine lottery for a couple of years now, and I think people place way too much importance on moving their money around before and after the quarterly offer update.

I just leave my money right where it is in Tangerine Savings, and when the bonus interest expires I call them up and say "My bonus interest rate has expired and I'm planning to move my money out to (competitor with better rate) today, but I'm checking to see if you have a competitive offer.". They always offer me the same rate as the people that moved their money out.
But does the rate apply to your whole balance, or only new balances?
Deal Addict
Jul 3, 2017
3402 posts
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cluie29 wrote:
Jan 8th, 2018 3:20 pm
But does the rate apply to your whole balance, or only new balances?
Whole balance.
Member
Jul 2, 2015
207 posts
71 upvotes
OTTAWA,ON
Exp315 wrote:
Jan 8th, 2018 1:59 pm
I've been playing the Tangerine lottery for a couple of years now, and I think people place way too much importance on moving their money around before and after the quarterly offer update.

I just leave my money right where it is in Tangerine Savings, and when the bonus interest expires I call them up and say "My bonus interest rate has expired and I'm planning to move my money out to (competitor with better rate) today, but I'm checking to see if you have a competitive offer.". They always offer me the same rate as the people that moved their money out.
You can keep doing that but one day you may get a big surprise.Heavy Exclamation Mark Symbol What happens if you do get a lottery offer for "new funds" and your money is sitting in the account ?
Deal Addict
Jul 3, 2017
3402 posts
2295 upvotes
parclub wrote:
Jan 8th, 2018 4:05 pm
You can keep doing that but one day you may get a big surprise.Heavy Exclamation Mark Symbol What happens if you do get a lottery offer for "new funds" and your money is sitting in the account ?
Then I'll move my money out to where it earns better interest and check back in 3 months. It wouldn't be the first time. No big deal. I have no particular commitment to Tangerine. Maybe that's one of the considerations in their algorithm for deciding whether to make an offer or not.

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