Personal Finance

Tangerine Interest Rate Lottery thread

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Deal Addict
Dec 13, 2010
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mkl38s wrote: setup a link from EQ to your savings. I pulled my money from EQ on Wednesday, but the money wasn't out of Tangerine till today. So I earned interest from both on Wednesday & Thursday
Setup that link where, in Eq?
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Dec 13, 2010
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mkl38s wrote: Yes
In order to setup a link in EQ you need to provide the account transit, bank no, do the tangerine savings accts have this?
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Jan 21, 2014
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thetipster wrote: In order to setup a link in EQ you need to provide the account transit, bank no, do the tangerine savings accts have this?
https://www.tangerine.ca/en/faq/about-us/index.html
bottom of the page. Remember when you transfer the money back to Tangerine, make sure you pull from Tangerine, else the 2 days advantage will be cancelled out as EQ deducts your money immediately and it takes a day or 2 to get to Tangerine. If both EQ & Tangerine are 2%, you can do this couple of times a month and if you have $500K, that would net you over $100 if my calculation is correct
Sr. Member
Jan 23, 2009
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Ontario
let say you have 2 links at EQ - TD and Tangerine can you transfer between td and tangerine from EQ just wondering if it can be done ;)
Member
Jan 20, 2007
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Niagara
mkl38s wrote: https://www.tangerine.ca/en/faq/about-us/index.html
bottom of the page. Remember when you transfer the money back to Tangerine, make sure you pull from Tangerine, else the 2 days advantage will be cancelled out as EQ deducts your money immediately and it takes a day or 2 to get to Tangerine. If both EQ & Tangerine are 2%, you can do this couple of times a month and if you have $500K, that would net you over $100 if my calculation is correct
Maybe even more .. ?

Assuming 2 days to transfer (so 2 days @ 4% assuming 2% Tangerine promo rate) and 5 day holding time means you can transfer once a week.

2 days/week @ 2% extra on 500k = 54.80/week * 52 weeks = $2849 year extra interest. Mind you'd probably attract alot of attention as I think the banks need to notify FINTRAC every time you transfer over 10k
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Jan 21, 2014
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Pulling back into Tangerine has no interest gain and it will be on hold for 5 business days. So technically you can only do 2 pulls from EQ a month. Anyhow, not sure if anyone $500K in cash would sit here and do this for a small gain :)
Member
Jan 20, 2007
474 posts
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Niagara
mkl38s wrote: Pulling back into Tangerine has no interest gain and it will be on hold for 5 business days. So technically you can only do 2 pulls from EQ a month. Anyhow, not sure if anyone $500K in cash would sit here and do this for a small gain :)
oops. You're right .. so $100/month. And no I can't see anyone doing that either ... but on RFD you never know .. :)
God always forgives. Man often forgives. Nature never forgives.
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Aug 8, 2012
10198 posts
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BC
thetipster wrote: Some of you have said, if you pull funds from Tangerine using EQ Bank you can get double interest.
Am I missing something? The link you setup in EQ to get to Tangerine is to a tangerine checking account. I cannot setup a link to Tangerine savings account. So I have to move money to checking first... then pull using EQ. So yeah you get a little interest from Tangerine for the 2 days... 0.15%.
Is anyone able to setup a connection to Tangerine Savings in EQ?
Yes you are missing this: :)
mkl38s wrote: setup a link from EQ to your savings. I pulled my money from EQ on Wednesday, but the money wasn't out of Tangerine till today. So I earned interest from both on Wednesday & Thursday
On EQ's site you can create links now the same way you can with Tangerine (inputting the numbers online and then verifying micro deposits).

The bank # and transit # for your savings accounts are the same as your chequing account. The account # is the account #.

Link at EQ, verify deposits, done.

And besides ... before EQ did the micro deposit links you could still get 2 days (or 4 with a weekend) of double interest by scheduling a TNG transfer from savings to chequing for 2 business days after you do the transfer at EQ.

The Tangerine internal transfer always happened first shortly after midnight. Even if it didn't, overdraft would cover you for $5k or less transfers. :)

I did this several times (every time) because why leave the money in chequing for Thu, Fri, Sat, Sun, when the money isn't going to be pulled out til Monday anyways :)

Now that EQ offers 10 links I just setup a bunch of links directly to different sub-accounts at TNG though :)
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ace604 wrote: The bank # and transit # for your savings accounts are the same as your chequing account. The account # is the account #.
As usual Ace saves the day with the actual info I need!
Last edited by thetipster on Mar 31st, 2017 2:49 pm, edited 1 time in total.
Sr. Member
Jan 3, 2013
919 posts
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Mississauga
bylo wrote: To clarify even further, if you decline the 2% offer on the phone, TING won't make you a higher offer in April. They'll make a notation in your file that you declined. They stressed this to me a couple of cycles ago and they stuck to their guns when I called their bluff.
A couple of days before the last promo began in January I was offered 2% when I called in to transfer out a large sum. I declined the offer and went ahead with the transfer. I was still offered the 3.25% promo.
Sr. Member
Oct 7, 2013
737 posts
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looking4deals1 wrote: A couple of days before the last promo began in January I was offered 2% when I called in to transfer out a large sum. I declined the offer and went ahead with the transfer. I was still offered the 3.25% promo.
Same here. We were offered 2 per cent for 3 months when we phoned to move our money out in the first few days of January. We declined and moved the money out. About 3-4 days later we got the email offer for 3.25 per cent.

So on Saturday morning April 1st, we'll be on the phone again with Tangerine...and we will move our money out. That's the plan unless there is an offer made during the phone call that we just can't pass up. If not we'll empty the account and sit on the sidelines for a few days to see what happens...
Sr. Member
Jul 25, 2010
741 posts
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Vancouver
Moved all savings to chequing today. Will wait till Apr 5 for an offer. If nothing, then it's all going out for good. EQ looks like the new ING.
Deal Expert
Mar 25, 2005
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Decided to move to Eq and wait. Hopefully something north of 2% is released.
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Nov 11, 2004
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Any idea when they send out these promos?
Hello
Sr. Member
Oct 7, 2013
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So I just got off the phone with the Tangerine customer service guy...

Told him my promo rate expired at midnight and I wanted to move my money out...

He did the usual routine asking why I was moving out and I told him I'm hoping for a great new offer...

He put me on hold and came back and offered 1.6 per cent for 90 days...

I declined and we completed the transaction.
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Jun 3, 2009
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Montreal
I don't have any special offer as of this morning.
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Aug 18, 2005
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ilusa wrote: Any idea when they send out these promos?
Nobody on here knows if / when another promo will arrive.
But if it follows the pattern of the last one, I would expect offers to go out around April 5th.

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Sr. Member
Oct 7, 2013
737 posts
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unclefester wrote: So I just got off the phone with the Tangerine customer service guy...

Told him my promo rate expired at midnight and I wanted to move my money out...

He did the usual routine asking why I was moving out and I told him I'm hoping for a great new offer...

He put me on hold and came back and offered 1.6 per cent for 90 days...

I declined and we completed the transaction.
So about an hour after I made my call to Tangerine (see above) my bride called in under the same circumstances.

Only difference is she has a much larger amount in her account than I do.

The customer service rep put her on hold and then offered her 2 per cent for 90 days.

We declined and moved her money out hoping for something better soon.

I've got a feeling there's a mass money exodous at Tangerine today...let's hope it works...
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Aug 11, 2009
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Don't be nosey
Good to hear that there might be new promotions on Monday! I moved my money out already!
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