Personal Finance

The 3 Month Tangerine Lottery thread

  • Last Updated:
  • Jun 18th, 2018 12:49 am
Member
Jul 1, 2006
316 posts
135 upvotes
Exp315 wrote:
Jan 8th, 2018 4:12 pm
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.
The main reason I move the money (either to EQ bank or to the chequing account) is to avoid having to call them. Which is exactly what I used to do. It's a pain to wait on hold for 15-30 mins, and usually for 2 accounts (mine and my spouse's). It is far faster and easier to just move it and see what the TING fairy brings. If they don't bring anything then I get EQ's decent rate, and if they beat the EQ rate with a promo offer I just move it back.
Member
User avatar
Jul 29, 2013
488 posts
196 upvotes
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.
I tried this once and left money in. I called and was offered a much lower rate than what was given to people who had moved their money.
Since then I have been moving money out and in and getting a better rate.
Could have been just luck.
Deal Addict
Dec 8, 2008
1623 posts
107 upvotes
so is the 2.5% still a lottery or for everyone? if one calls in can one relatively easily get the 2.5% deal without begging? i don't see anything under the 'insights' section in my account. i used to have 2% and now it has expired.
Deal Guru
Jan 7, 2002
12666 posts
5022 upvotes
Waterloo, ON
leoben wrote:
Jan 12th, 2018 6:57 am
so is the 2.5% still a lottery or for everyone? if one calls in can one relatively easily get the 2.5% deal without begging?
It's a "lottery." If you don't play (call and ask) you can't win ;)
veni, vidi, Visa
Member
Jan 3, 2013
429 posts
106 upvotes
Mississauga
leoben wrote:
Jan 12th, 2018 6:57 am
so is the 2.5% still a lottery or for everyone? if one calls in can one relatively easily get the 2.5% deal without begging? i don't see anything under the 'insights' section in my account. i used to have 2% and now it has expired.
Spouse had gotten 2.5% but hadn't moved money out of savings by Jan 2. Called yesterday and was offered 2.5% on existing balance for 90 days.
Sr. Member
Mar 14, 2015
579 posts
14 upvotes
Richmond
Tangerine when it says NEW deposits only. If I take out whatever I currently have and transfer out of my account then transfer back in does this count as new?
Newbie
Mar 4, 2015
48 posts
25 upvotes
Montreal
FlyOverMyDoodle wrote:
Jan 16th, 2018 10:07 am
Tangerine when it says NEW deposits only. If I take out whatever I currently have and transfer out of my account then transfer back in does this count as new?
Only if you did it before the snapshot (before you get the offer), so basically no, it's too late now
Sr. Member
Mar 14, 2015
579 posts
14 upvotes
Richmond
What about transferring out of Tangerine completely to another bank and then back into Tangerine? Would they know it's the same $$?
Jr. Member
Apr 24, 2011
122 posts
84 upvotes
FlyOverMyDoodle wrote:
Jan 16th, 2018 11:42 am
What about transferring out of Tangerine completely to another bank and then back into Tangerine? Would they know it's the same $$?
That won't work. What matters is that your account balance must exceed what was in there when the snapshot was taken, in order to be earning the promo interest.
Deal Addict
Jan 21, 2014
2734 posts
728 upvotes
FlyOverMyDoodle wrote:
Jan 16th, 2018 11:42 am
What about transferring out of Tangerine completely to another bank and then back into Tangerine? Would they know it's the same $$?
Why not calling them? chances are you will get 2.5% for existing money too, no need to move around
Deal Addict
Nov 4, 2007
1058 posts
216 upvotes
Toronto
I just opened a new account as a new customer. I called in and asked for a better rate without having to open a chequing account since Simplii is giving me 3% and EQ Bank's standard rate is 2.3%. The CS rep immediately offered my the 2.5% until May 31 for my first 500k. He waited on the phone while I logged out and logged back in to verify it was active.
[OP]
Sr. Member
Jan 23, 2009
602 posts
236 upvotes
ontario
Tangerine Saving up 1.1% way to go Tangerine humm this is why we should never ever be loyal to any bank notice the historical rate BOC drop rate by 0.25% the rate drop by 0.25% each time however when BOC increased rate by 0.25% but ONLY increased by 0.10% each time

Tangerine Historical rates:

January 23, 2018 - 1.10%
September 20, 2017 - 1.00%
August 1, 2017 - 0.90%
July 24, 2015 - 0.80%
February 3, 2015 - 1.05%
March 6, 2014 - 1.30%
Sr. Member
Apr 23, 2008
642 posts
49 upvotes
Hi guys,
Can I link my Tang joint account (of which I am a secondary holder) to my external account at national bank using 2 micro deposits?
Thank you in advance.
Sr. Member
Apr 23, 2008
642 posts
49 upvotes
kasm wrote:
Jan 16th, 2018 3:39 pm
I just opened a new account as a new customer. I called in and asked for a better rate without having to open a chequing account since Simplii is giving me 3% and EQ Bank's standard rate is 2.3%. The CS rep immediately offered my the 2.5% until May 31 for my first 500k. He waited on the phone while I logged out and logged back in to verify it was active.
Thanks for posting, we can make a guess how bad Tang needs our money based on its acceptance of such call. It looks like it does as it may already loose some of the money to Simplii.
Banned
Jan 22, 2018
25 posts
12 upvotes
phht wrote:
Jan 23rd, 2018 10:05 pm
Hi guys,
Can I link my Tang joint account (of which I am a secondary holder) to my external account at national bank using 2 micro deposits?
Thank you in advance.
Yes you can.

My parents have a Joint Tangerine account which is linked to an external single account with CIBC, which is only in my Mom's name ( not Joint ). No issues so far. They are transferring money, both in & out from both sides without any issues.

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