Expired Hot Deals

Tangerine

2.80% until August 31 - YMMV

  • Last Updated:
  • Sep 22nd, 2020 8:21 pm
Deal Fanatic
Jan 21, 2018
6532 posts
6836 upvotes
Vancouver
wra45mon wrote: Did you have money in savings account when you asked for higher rate? Or was it almost $0
You're searching for a correlation that doesn't seem to exist. Through years-long threads here on RFD people have attempted to determine a pattern to Tangerine's interest rate offers other than the random spin of a wheel, without success.
Deal Expert
Jan 7, 2002
25123 posts
21555 upvotes
Waterloo, ON
Scote64 wrote: You're searching for a correlation that doesn't seem to exist. Through years-long threads here on RFD people have attempted to determine a pattern to Tangerine's interest rate offers other than the random spin of a wheel, without success.
Yup. Someone who had $0 posts that they got a promo. Then someone else with $0 posts that they didn't. Likewise for someone with $100k or more who got a promo, there's another who didn't. Likewise for someone with only a HISA or someone who has a HISA, CC, GICs, an RRSP and a TFSA. There seems to be no rhyme nor reason.
veni, vidi, Visa
Sr. Member
May 29, 2008
591 posts
985 upvotes
Halifax, NS
It's like dealing with any retentions dept... If you don't get anywhere, thank them for their time, hang up, try again!
Sr. Member
User avatar
Sep 18, 2017
760 posts
1193 upvotes
Vancouver
bylo wrote: Yup. Someone who had $0 posts that they got a promo. Then someone else with $0 posts that they didn't. Likewise for someone with $100k or more who got a promo, there's another who didn't. Likewise for someone with only a HISA or someone who has a HISA, CC, GICs, an RRSP and a TFSA. There seems to be no rhyme nor reason.
They pretty much just spin the wheel and see where you land on.

Same deal with how all the cell phone providers just randomly give out those $5 for 5 gigs or $10 for 10 gigs special data text message offers.
Banned
User avatar
May 7, 2007
13912 posts
5698 upvotes
Looks like good thing that I locked some of my money over at TING ... when they had that most recent GIC promo ...

bought some 5 year 3.2% GIC ...

and some 2 year 2.9% GIC ...


and a bit of TFSA 5 year 3.2% GIC ....

:)
Sr. Member
User avatar
Dec 11, 2010
675 posts
514 upvotes
wra45mon wrote: Alot? Just wondering if they will offer something if you have nothing in there.
I have been told by Tangerine CSR that the more you use your chequing/saving account, they are more likely to offer promotion on your account.

Not sure if this is true for everyone though, I certainly didn’t get any promotion rate on my saving account when I had no activity and no cash at all on both of my chequing and saving accounts.
You'll Never Walk Alone.
Deal Expert
Jan 7, 2002
25123 posts
21555 upvotes
Waterloo, ON
blurx wrote: I have been told by Tangerine CSR that the more you use your chequing/saving account, they are more likely to offer promotion on your account.

Not sure if this is true for everyone though, I certainly didn’t get any promotion rate on my saving account when I had no activity and no cash at all on both of my chequing and saving accounts.
I've had an HISA with TING since ING Direct opened shop. I've never had their chequing account (or anything else for that matter.) They've tried repeatedly to flog that account, CC, investment portfolios, RRSP, TFSA, etc. on me. I've never bitten. Yet with the exception of one (maybe two quarters) I've always gotten a promo rate. Not always the highest one. But much better than the basic rate.

As I was saying, to paraphrase Newton's 3rd law, in the TING universe for every data point there's an equal and opposite data point.
veni, vidi, Visa
Member
Jul 6, 2008
209 posts
78 upvotes
I don't always get the promotion, but did this time.. I hardly ever use my Tangerine accounts since they switched from ING.
Deal Fanatic
Jul 4, 2004
8978 posts
1917 upvotes
Darkman wrote: Looks like good thing that I locked some of my money over at TING ... when they had that most recent GIC promo ...

bought some 5 year 3.2% GIC ...

and some 2 year 2.9% GIC ...


and a bit of TFSA 5 year 3.2% GIC ....

:)
Stop making me feel bad.
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Deal Addict
Oct 26, 2010
3636 posts
7107 upvotes
I have some of my money with TD in a TFSA earning 0.05% interest and my regular bank account, which has a majority of my money, is earning only 0.01%. Is Tangerine the best one to switch to currently?
Been using TD my entire life but looking to actually earn something instead of nothing.
Last edited by NavieM on Jul 5th, 2020 12:11 am, edited 1 time in total.
Public Mobile customer
Deal Expert
Jan 7, 2002
25123 posts
21555 upvotes
Waterloo, ON
NavieM wrote: I have some of my money with TD in a TFSA earning 0.05% interest. and my regular bank account, which has a majority of my money, is earning 0.01%.
All of the big-5 banks pay pitiful interest on their regular savings accounts.
Is Tangerine the best one to switch to currently?
It depends. Offers keep changing all the time. You have to monitor threads in Personal Finance section of RFD, in particular Official RFD thread for High Interest Savings Accounts.
Been using TD my entire life but looking to actually earn something instead of nothing.
All banks count on their customers to take the easy path and do nothing. Their profits depend on it.
veni, vidi, Visa
Deal Fanatic
Jan 21, 2018
6532 posts
6836 upvotes
Vancouver
Darkman wrote: Looks like good thing that I locked some of my money over at TING ... when they had that most recent GIC promo ...

bought some 5 year 3.2% GIC ...

and some 2 year 2.9% GIC ...


and a bit of TFSA 5 year 3.2% GIC ....

:)
A saying about counting chickens comes to mind... :)

Come back and tell us about your savvy investment in 5 years. We might all be posting comments saying it's a good thing we didn't make long term fixed rate investments back in the days when inflation was running at less than 12% and GICs were paying less than 10%!
Last edited by Scote64 on Jul 4th, 2020 9:56 am, edited 4 times in total.
Sr. Member
Jul 22, 2015
634 posts
213 upvotes
Ontario
Darkman wrote: Looks like good thing that I locked some of my money over at TING ... when they had that most recent GIC promo ...

bought some 5 year 3.2% GIC ...

and some 2 year 2.9% GIC ...


and a bit of TFSA 5 year 3.2% GIC ....

:)
Those are some decent rates. Their current rates are pitiful:

90 DayGuaranteed Investment--0.50%
180 DayGuaranteed Investment--1.10%
270 DayGuaranteed Investment--1.10%
1 YearGuaranteed Investment--1.10%
1.5 YearGuaranteed Investment--1.15%
2 YearGuaranteed Investment--1.25%
3 YearGuaranteed Investment--1.35%
4 YearGuaranteed Investment--1.40%
5 YearGuaranteed Investment--1.50%
Deal Addict
Sep 3, 2019
1198 posts
1499 upvotes
GTA
I was charged a $50 transfer fee for moving my funds from Tangerine TFSA into another TFSA account. For future reference, is there a way to avoid this transfer fee when moving money between accounts? It's an amount worth taking into consideration prior to signing up for these promos
Member
Feb 8, 2017
466 posts
349 upvotes
SKill7 wrote: I was charged a $50 transfer fee for moving my funds from Tangerine TFSA into another TFSA account. For future reference, is there a way to avoid this transfer fee when moving money between accounts? It's an amount worth taking into consideration prior to signing up for these promos
All banks charge a fee for transferring registered accounts. With a TFSA you can wait until the end of Dec to withdraw and then you get the room back on Jan 1st.

If you have enough room though, you could withdraw to a chequing account and transfer for no fee. Be careful that you actually know your contribution limit and don't trust what is shown in your CRA account, as it's not current.
Member
May 16, 2007
274 posts
100 upvotes
Comox, BC
sierravista wrote: All banks charge a fee for transferring registered accounts. With a TFSA you can wait until the end of Dec to withdraw and then you get the room back on Jan 1st.

If you have enough room though, you could withdraw to a chequing account and transfer for no fee. Be careful that you actually know your contribution limit and don't trust what is shown in your CRA account, as it's not current.
To add to the post, withdrawals from savings account type TFSAs typically do not incur a $ fee. The fee applies when the transfer is directly from one TFSA to another, since transfer forms have to be completed by the transferring institution.
Deal Guru
Dec 5, 2006
11783 posts
6838 upvotes
Markham
mallard13 wrote: To add to the post, withdrawals from savings account type TFSAs typically do not incur a $ fee. The fee applies when the transfer is directly from one TFSA to another, since transfer forms have to be completed by the transferring institution.
They just want to make transfer expensive and inconvenient, so you will give up and stick to them

It's like you can open a credit card online but have to call them to close
Member
Apr 29, 2013
257 posts
360 upvotes
Calgary
Do you need to have a savings account open first to get the offer? I only have a checking account right now
Banned
User avatar
May 7, 2007
13912 posts
5698 upvotes
Scote64 wrote: A saying about counting chickens comes to mind... :)

Come back and tell us about your savvy investment in 5 years. We might all be posting comments saying it's a good thing we didn't make long term fixed rate investments back in the days when inflation was running at less than 12% and GICs were paying less than 10%!
We shall see ...

4.5 years or so to go ..... :D
Deal Expert
Jan 7, 2002
25123 posts
21555 upvotes
Waterloo, ON
Scote64 wrote: A saying about counting chickens comes to mind... :)

Come back and tell us about your savvy investment in 5 years. We might all be posting comments saying it's a good thing we didn't make long term fixed rate investments back in the days when inflation was running at less than 12% and GICs were paying less than 10%!
1. "Experts" have been telling us that with interest rates dropping they have no where to go but up. They've been telling us this for about the last 35 years. Despite their "expert" predictions rates have been going down and down and... Of course one day they'll be right. But that day could be more than 5 years into the future.
2. For about the last half of those 35 years interest rates have been at or near record lows. Nevertheless rates have kept on going down.
3. Statistically the best predictor of future bond returns over the long run has been the current bond yield(*)
4. Whether it's a wise decision to buy a 5-year GIC at 3.2% depends on the buyer's financial plan and asset allocation. What may seem ridiculous to one person may be a perfectly rational decision to another.
5. I too bought TING's 5-year 3.2% GIC during the few days that they offered it. (Which was at the height of the COVID-19 induced market panic.) I bought it to replace a just-matured GIC in my bond ladder. The GIC it replaced was a 5-year GIC from Peoples Trust that had been paying 2.15%. Go figure...

(*) From How to Predict the Next Decade's Bond Returns [behind the WSJ paywall]
If you are going to hold bonds for a longer period, the current yield gives you a decent indication of what you might earn over time, says John C. Bogle, founder and former chairman of Vanguard Group. Since 1926, he notes, the entry yield on the 10-year Treasury explains 92% of the annualized return an investor would have earned over the subsequent decade had he or she held the bond to maturity and reinvested the coupon payments at prevailing rates.

Similarly, the entry yield on the Barclays U.S. Aggregate Bond index (of investment-grade U.S. bonds) explains 90% of its 10-year returns for the years 1976 to 2012, says Tony Crescenzi, a portfolio manager and strategist at Pacific Investment Management Co.
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