Personal Finance

Tangerine Interest Rate Lottery thread

  • Last Updated:
  • Mar 28th, 2024 3:03 pm
Jr. Member
Jun 24, 2015
111 posts
15 upvotes
Toronto, ON
How many times did you call? Try several times until they give you a higher interest rate.
Deal Addict
User avatar
Dec 14, 2007
3105 posts
1530 upvotes
What irritates me is that they offered 2.75% but it's only on new money... so you have to move it out before the previous deal expires... before moving it back in again... while the marketing APPEARS like they're giving you 2.75% on what you had in there already.
I'd love to write history... in advance.
AMEX Biz Plat 75K AGAIN! | Plat 60K | Biz Gold 40K | Gold 25K | SPG 20K
Deal Addict
Mar 8, 2013
2950 posts
1611 upvotes
atomiton wrote: What irritates me is that they offered 2.75% but it's only on new money... so you have to move it out before the previous deal expires... before moving it back in again... while the marketing APPEARS like they're giving you 2.75% on what you had in there already.
So live and learn. Always move your money out of Tangerine before the end of the quarter, regardless of the current deal.
Sr. Member
Jan 23, 2009
946 posts
1932 upvotes
Ontario
starbelow wrote: Good bye tangerine :) Hello Simplii!
LOL yup + 1

Good bye tangerine :) Hello Simplii!
Newbie
Nov 28, 2016
94 posts
48 upvotes
Alberta
Has anyone actually tried phoning Tangerine to match Simplii's 3%???
Banned
User avatar
May 7, 2007
13912 posts
5710 upvotes
MikeyCanada wrote: Has anyone actually tried phoning Tangerine to match Simplii's 3%???
I just tried ... "no go" ... moved most of my money at TING to Simplii for now.
Newbie
Nov 28, 2016
94 posts
48 upvotes
Alberta
Darkman wrote: I just tried ... "no go" ... moved most of my money at TING to Simplii for now.

Thank you for the reply. Then Hello to Simplii as well! Let the games continue....
Banned
User avatar
May 7, 2007
13912 posts
5710 upvotes
MikeyCanada wrote: Thank you for the reply. Then Hello to Simplii as well! Let the games continue....
Not to say that TING might decide to match 3% (or better) at some future point ...

The Simplii's 3% just hit them today ... they have to digest it for a while maybe ... and go from there :)

Time will show ...

If Tangerine were to offer 3% (instead of my current 2.5% there) ... I'd probably move my money back to them :)
Deal Addict
User avatar
Dec 14, 2007
3105 posts
1530 upvotes
To be honest, I probably wouldn't have bothered, but I missed the deadline to pull my money out of TING before they offered me 2.75%

oh... here' a fun table:

Code: Select all

╔══════════════════════════════════════╗
║ 3 mo. ROI analysis: PCF vs. Simplii  ║
╠════════╦═════════╦═════════╦═════════╣
║ Amount ║ @2.5%*  ║ @2.75%* ║  @3%†   ║
╠════════╬═════════╬═════════╬═════════╣
║ 10,000 ║  $62.63 ║  $68.91 ║  $75    ║
║ 50,000 ║ $313.15 ║ $344.54 ║ $375    ║
║ 75,000 ║ $469.73 ║ $516.81 ║ $562.50 ║
╚════════╩═════════╩═════════╩═════════╝
* Calculated daily, compounded monthly
† Calculated daily, compounded quarterly 
Here's a fun fact, $100,000 invested @ 3% will actually yield $1.88 more with Tangerine than Simplii due to compounding... of course, if you allow for the two day transfer between banks, and account for money already in... that would mean the effective interest rate...

Image
source: https://xkcd.com/1908/
I'd love to write history... in advance.
AMEX Biz Plat 75K AGAIN! | Plat 60K | Biz Gold 40K | Gold 25K | SPG 20K
Banned
Oct 31, 2017
49 posts
12 upvotes
Darkman wrote: Not to say that TING might decide to match 3% (or better) at some future point ...

The Simplii's 3% just hit them today ... they have to digest it for a while maybe ... and go from there :)

Time will show ...

If Tangerine were to offer 3% (instead of my current 2.5% there) ... I'd probably move my money back to them :)
So you are on a current 2.5 % retention offer of 90 days from Tangerine ?

I am on a 2 % from 90 days from Tangerine. I know they won't match 3 % of Simplii. But if I call in or chat online , do you think they will increase my current 2 % for 90 days to 2.5 % for 90 more days ? I am OK with that, doesn't have to be 3 % , 2.5 % is OK for me.

Or once you have accepted a retention offer, you are done and they won't change it and you HAVE to wait till it expires.

The only reason I took 2 % is because I got NADA in the lottery promo from Tangerine, which went up to 2.75 % for NEW deposits .

So I thought something is better than nothing and took the 2 % instead of their crappy 0.8 % they had at that time.
Down Votes are always welcome. They mean as much to me as FB likes..LOL
Banned
User avatar
May 7, 2007
13912 posts
5710 upvotes
amitpandit wrote: So you are on a current 2.5 % retention offer of 90 days from Tangerine ?

I am on a 2 % from 90 days from Tangerine. I know they won't match 3 % of Simplii. But if I call in or chat online , do you think they will increase my current 2 % for 90 days to 2.5 % for 90 more days ? I am OK with that, doesn't have to be 3 % , 2.5 % is OK for me.

Or once you have accepted a retention offer, you are done and they won't change it and you HAVE to wait till it expires.

The only reason I took 2 % is because I got NADA in the lottery promo from Tangerine, which went up to 2.75 % for NEW deposits .

So I thought something is better than nothing and took the 2 % instead of their crappy 0.8 % they had at that time.
Yes.

I can't predict future ... or know answers for hypothetical questions ... You have to contact them ... ask for it ... and see how it plays out :)
Banned
User avatar
May 7, 2007
13912 posts
5710 upvotes
atomiton wrote: To be honest, I probably wouldn't have bothered, but I missed the deadline to pull my money out of TING before they offered me 2.75%

oh... here' a fun table:

Code: Select all

╔══════════════════════════════════════╗
║ 3 mo. ROI analysis: PCF vs. Simplii  ║
╠════════╦═════════╦═════════╦═════════╣
║ Amount ║ @2.5%*  ║ @2.75%* ║  @3%†   ║
╠════════╬═════════╬═════════╬═════════╣
║ 10,000 ║  $62.63 ║  $68.91 ║  $75    ║
║ 50,000 ║ $313.15 ║ $344.54 ║ $375    ║
║ 75,000 ║ $469.73 ║ $516.81 ║ $562.50 ║
╚════════╩═════════╩═════════╩═════════╝
* Calculated daily, compounded monthly
† Calculated daily, compounded quarterly 
Here's a fun fact, $100,000 invested @ 3% will actually yield $1.88 more with Tangerine than Simplii due to compounding... of course, if you allow for the two day transfer between banks, and account for money already in... that would mean the effective interest rate...

Image
source: https://xkcd.com/1908/
How about $300,000? :)
Sr. Member
Sep 6, 2009
704 posts
310 upvotes
I called in to set up transfer for 2 accounts with the max amount in each. It was a quick NO from the rep. He didn't even bother to talk to manager. 0.25% difference for 4 month is about $833. I would say this makes a difference :)
Deal Addict
User avatar
Dec 14, 2007
3105 posts
1530 upvotes
Darkman wrote: How about $300,000? :)
"Hey Siri, what's 75 times 10 times 3?"
I'd love to write history... in advance.
AMEX Biz Plat 75K AGAIN! | Plat 60K | Biz Gold 40K | Gold 25K | SPG 20K
Deal Expert
Jan 7, 2002
29711 posts
29133 upvotes
Waterloo, ON
atomiton wrote: "Hey Siri, what's 75 times 10 times 3?"
"OK Google, WTF is Siri?" or "OK Google, are you Sirious?"

A platform-independent solution that even works if you're not a fanboy: https://www.google.ca/search?q=75*10*3 ;)
Last edited by bylo on Nov 1st, 2017 3:12 pm, edited 1 time in total.
veni, vidi, Visa
Banned
Oct 31, 2017
49 posts
12 upvotes
parclub wrote: Last period I moved out over 300k after talking to a rude CSR that offered peanuts, even asked if I wished to close the account before I had a chance to respond.
Perhaps a note was added to my file because I never even got an offer in the lottery.
Since then I've moved to greener pastures and will perhaps move back, but only for a premium.
Pissed off with TING ?? You bet I am, I had been there since day one.
Now with Simplii at 3 % , they will be more polite as people start moving funds out from Tangerine :).
Down Votes are always welcome. They mean as much to me as FB likes..LOL
Deal Expert
Jan 7, 2002
29711 posts
29133 upvotes
Waterloo, ON
I would...
1. Move money out of TING if they won't match Simplii.
2. Collect the 3% while you wait for TING's adult supervisors to notice the giant sucking sound that tons of cash makes as it's being vacuumed out of their system.
3. See if they have a change of heart and start matching Simplii.
4. Profit!
veni, vidi, Visa
Deal Fanatic
Jan 21, 2014
8518 posts
6261 upvotes
I think it's a win-win for anyone moving the money out:
1. Get 0.25% more
2. Have a better chance of getting a rate > 3% comes Jan 5th

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