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

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  • Apr 28th, 2017 3:23 pm
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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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ilusa wrote:
Mar 16th, 2017 8:55 am
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 offered by tangerine
I'd hope so anyways
I'd say you are mistaken on 3 counts... but that doesn't really matter because the topic was Tangerine's $500k limit that applies to everyone, not just RFD members.

My post was about why someone may have $500k in cash they want to put into Tangerine. Not an RFD member, just a Tangerine customer.

I operate this way. My brokerage account cash is never positive. I move cash out to EQ/Tangerine. No, I'm not hitting the $500k limit :)
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ilusa wrote:
Mar 16th, 2017 8:55 am
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

Why would you believe that?
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Someone posted on the other forum xxxhighinterestsavings.xx that Tangerine offer them on Mar 16 2.00% for 6 months
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Just called into Tangerine to try to extend my current 2.59% promo offer which ends March 31, but they said they can't offer me anything right now because they can't stack promotions and I'll have to call back after my current promo expires. Does that sound right?
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Aznsilvrboy wrote:
Mar 18th, 2017 4:17 pm
Just called into Tangerine to try to extend my current 2.59% promo offer which ends March 31, but they said they can't offer me anything right now because they can't stack promotions and I'll have to call back after my current promo expires. Does that sound right?
Yes, calling before your promo expires is not beneficial to you. You are better off to transfer out everything on March 31, and wait a few days for the expected 'Spring' offer in the first week of April. If you haven't set up a HISA account elsewhere, such as EQ or Hubert, you still have time.
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akaManny wrote:
Mar 18th, 2017 4:27 pm
Yes, calling before your promo expires is not beneficial to you. You are better off to transfer out everything on March 31, and wait a few days for the expected 'Spring' offer in the first week of April. If you haven't set up a HISA account elsewhere, such as EQ or Hubert, you still have time.
At the very least, just transfer the money into TING chequing. This is still a legit way to set yourself up for another promo.
As for myself, I'll be moving it out to other accounts because we don't know if/when TING will come back with another offer, or if that offer will be any good.
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Jucius Maximus wrote:
Mar 18th, 2017 4:38 pm
At the very least, just transfer the money into TING chequing. This is still a legit way to set yourself up for another promo.
As for myself, I'll be moving it out to other accounts because we don't know if/when TING will come back with another offer, or if that offer will be any good.
When should you start to move the amount? Are you sure it will reset the promo if you don't move it out of the bank?
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vivibaby wrote:
Mar 18th, 2017 5:59 pm
When should you start to move the amount? Are you sure it will reset the promo if you don't move it out of the bank?
Last time I moved it out 1 business day before the expiry. So for a Friday Mar 31st expiry, I would move it to chequing during business hours on Mar 30th.

They take a snapshot of your savings balance shortly before sending the promo offer, as the promo is only on "new" money in savings. So it's important that your money is NOT in Savings when they do this. Otherwise you will be stuck with the regular rate on your existing savings balance.

I don't know if Tangerine is onto people's efforts to optimize the bonus offer they receive, but I can tell you in the past that only your savings usage patterns mattered when getting another offer. Will it be the same this time? Will they catch onto people who are playing games in order to elicit another high-rate offer? Nobody on here knows that.
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Jucius Maximus wrote:
Mar 18th, 2017 6:05 pm
Last time I moved it out 1 business day before the expiry. So for a Friday Mar 31st expiry, I would move it to chequing during business hours on Mar 30th.

They take a snapshot of your savings balance shortly before sending the promo offer, as the promo is only on "new" money in savings. So it's important that your money is NOT in Savings when they do this. Otherwise you will be stuck with the regular rate on your existing savings balance.

I don't know if Tangerine is onto people's efforts to optimize the bonus offer they receive, but I can tell you in the past that only your savings usage patterns mattered when getting another offer. Will it be the same this time? Will they catch onto people who are playing games in order to elicit another high-rate offer? Nobody on here knows that.
Yes, since we don't know what Tangerine will do, you might as well transfer to another FI that pays the best rate on savings. Of course, you might have a few days delay transferring back depending on that FI's hold period.
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Jucius Maximus wrote:
Mar 18th, 2017 6:05 pm
Will they catch onto people who are playing games in order to elicit another high-rate offer? Nobody on here knows that.
What we know here for sure THEY sure like playing games
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frankmp wrote:
Mar 18th, 2017 6:51 pm
What we know here for sure THEY sure like playing games
Agreed, and that's why I have no qualms about optimizing the offers we get from them. And if I don't like the offer, I'll play the game of 'taking my deposits to some other bank'.
akaManny wrote:
Mar 18th, 2017 6:32 pm
Yes, since we don't know what Tangerine will do, you might as well transfer to another FI that pays the best rate on savings. Of course, you might have a few days delay transferring back depending on that FI's hold period.
This is what I'm planning to do.
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akaManny wrote:
Mar 18th, 2017 4:27 pm
Yes, calling before your promo expires is not beneficial to you. You are better off to transfer out everything on March 31, and wait a few days for the expected 'Spring' offer in the first week of April. If you haven't set up a HISA account elsewhere, such as EQ or Hubert, you still have time.
What has been this expected 'spring' offer in the past? 2%? or more?
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leoben wrote:
Mar 19th, 2017 5:54 pm
What has been this expected 'spring' offer in the past? 2%? or more?
Spring 2016 offer was as high as 3%. If you do a search on the Tangerine site for 'springsavings', you will see a variety of offers.
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patrob wrote:
Mar 16th, 2017 1:51 am
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 :)
If their promo rate goes up ... you can still get it / renegotiate it so to speak ...

For example I was at 2% in the past ... but heard (here on RFD) that they were giving out 3% to some ... so I called them .. and no problem ... they gave me 3 months at 3%, cancelling the previous 2% promo.
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