Personal Finance

Tangerine 3 months 2.5% and 3% Expiring - any new offer

  • Last Updated:
  • Aug 4th, 2017 2:40 pm
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Jun 8, 2008
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Corfius wrote:
Mar 14th, 2017 6:04 pm
I did it in December and it worked. Moved my money before the end of December and moved it back when I had the new offer on January 5th or so. The only risk is there's no guarantee you'll get a special offer (even if you call).
I've always just moved money to chequing a few days before the end of the promo and have always got an offer, some better some worse.
[OP]
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Jan 23, 2009
441 posts
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Anyone get an extension for the 2%?

just remember Tangerine have new CEO Aceto gone who knows what the plan would be and if they even going to offer anything
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Jun 26, 2011
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agit wrote:
Mar 15th, 2017 10:43 am
Anyone get an extension for the 2%?

just remember Tangerine have new CEO Aceto gone who knows what the plan would be and if they even going to offer anything
I called Tangerine about a week ago and got 2% extension for 3 months.
[OP]
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Jan 23, 2009
441 posts
132 upvotes
RolandCouch wrote:
Mar 15th, 2017 10:52 am
I called Tangerine about a week ago and got 2% extension for 3 months.
thank you just wondering if the term of max 500k change since pcf now @1 million would you mind check the reason I am asking to see if tangerine still going after pcf client
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Jun 26, 2011
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agit wrote:
Mar 15th, 2017 10:58 am
thank you just wondering if the term of max 500k change since pcf now @1 million would you mind check the reason I am asking to see if tangerine still going after pcf client
My account says max $500,000 for the promo.
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Nov 11, 2004
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They have always told me its 500k at tangerine and when they say that i laugh

Why would anyone have that much $ sitting in a savings account, makes no sense
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Jan 7, 2002
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Waterloo, ON
ilusa wrote:
Mar 15th, 2017 1:31 pm
Why would anyone have that much $ sitting in a savings account, makes no sense
1. Waiting for a real estate deal to close.
2. Waiting for interest rates to rise before locking in on a longer-term bond or GIC.
3. High net worth, living off the income, very risk averse.
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Oct 4, 2009
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ilusa wrote:
Mar 15th, 2017 1:31 pm
They have always told me its 500k at tangerine and when they say that i laugh

Why would anyone have that much $ sitting in a savings account, makes no sense
It use to be 1000k. Those were the good old days.
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Feb 26, 2008
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ilusa wrote:
Mar 15th, 2017 1:31 pm
They have always told me its 500k at tangerine and when they say that i laugh

Why would anyone have that much $ sitting in a savings account, makes no sense

The more wealth that you have, the more liquid investments you keep on hand, and that includes savings accounts. A reasonable asset allocation should have a mixture of equities and fixed income. At the moment, with bond interest rates are so low, why would I buy a Government of Canada bond and be exposed to duration risk when I can get a similar interest rate from playing musical chairs with high interest savings accounts? It's almost irrational to allocate any of your portfolio to bonds when HISA rates are similar...

So, turning to the question of $500k in a savings account, if somebody has an equities portfolio of $3m or $4m, it makes perfect sense to marry it with $500k of fixed income. And, as I suggested, a HISA is currently a pretty attractive vehicle for the fixed income element of a typical portfolio.
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Aug 8, 2012
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Frankie3s wrote:
Mar 14th, 2017 5:59 pm
Not saying that I don't believe it, but can we get some sort of clarification that someone has done this? Moved all of their money out of Tangerine's savings into Tangerine Chequing, received the new quarterly offer, moved the money back in and it qualified? This would save an awful lot of time from having to transfer everything to another financial institution and back.
How are you transferring that normally takes you "an awful lot of time"?

While it is in chequing you earn 0.25%.
While it is at EQ you earn 2%.

I'd go with the spending time over losing the 1.75% extra interest. Especially since if Tangerine only offers you 2% or less you should decline and keep your money out of Tangerine so they may bribe you back later with a higher rate.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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ilusa wrote:
Mar 15th, 2017 1:31 pm
They have always told me its 500k at tangerine and when they say that i laugh

Why would anyone have that much $ sitting in a savings account, makes no sense
Someone with 5% cash position ($10M portfolio) could easily have $500k in a HISA paying 2%+ instead of sitting in an investment account earning crap.

Even 10% could be considered "normal", so $5M.

Or someone overweight cash expecting a big crash ... maybe 50% of a $1M portfolio.

The reason they have the $500k limit is because there ARE people hitting the limit and they don't want to pay out too much promo interest.
POLL: How frequent is your RRSP-matching?
Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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Jan 7, 2002
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ace604 wrote:
Mar 15th, 2017 8:40 pm
Someone with 5% cash position ($10M portfolio) could easily have $500k in a HISA paying 2%+ instead of sitting in an investment account earning crap.
Someone with $10M, if only they could get a 2% HISA rate on the whole wad would earn $200k per year with minimal risk and without touching their capital. I realize that's probably not easily achievable because of $500k limits at TING and $1M at PCF.

But just thinking out loud... His, hers and joint at TING would be $1.5M of that. Add another $1.5M at EQB and another $3M at PCF and you've covered $6M or $120k/year. Assuming of course that they'd all commit to 2% for the whole year.
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RolandCouch wrote:
Mar 15th, 2017 10:52 am
I called Tangerine about a week ago and got 2% extension for 3 months.
I wouldn't accept their 2% since it's a standard rate at EQ everyday. And once Tangerine has a better promo you will be stuck with their measly 2% for entire 3 months :)
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ace604 wrote:
Mar 15th, 2017 8:40 pm
Someone with 5% cash position ($10M portfolio) could easily have $500k in a HISA paying 2%+ instead of sitting in an investment account earning crap.

Even 10% could be considered "normal", so $5M.

Or someone overweight cash expecting a big crash ... maybe 50% of a $1M portfolio.

The reason they have the $500k limit is because there ARE people hitting the limit and they don't want to pay out too much promo interest.
I dont think anyone with 10 million is wasting there time on RFD, they would have a financial planner, and would easily be getting better rates elsewhere
I'd hope so anyways
Last edited by ilusa on Mar 16th, 2017 8:55 am, edited 1 time in total.
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