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Tangerine

Earn $200 when you switch to a no-fee daily Chequing Account (Code not stackable with other offers)

  • Last Updated:
  • Jun 25th, 2020 9:00 pm
Sr. Member
Jun 13, 2019
867 posts
932 upvotes
Toronto
Do we need to maintain the minimum $250 throughout or can it be parked in savings?
Sr. Member
Apr 16, 2007
819 posts
161 upvotes
Toronto
I had a few EFTs go into my account that totaled around $300 and then I did an interac e-transfer of 250.01 AFTER those EFTs. Does anyone know if I am covered for the $250 initial deposit or did I mess it up because the EFTs trickled in.
Jr. Member
User avatar
Jul 7, 2018
142 posts
115 upvotes
GTA
freedompie wrote: would Wealthsimple contributions be considered PADs for this promo?
I’m wondering about this too. I did a few PAD withdrawals to Wealthsimple and it’s display as “ETF withdrawal to ...” which was the same message I get for PAD payments to credit card. I assume it should work the same, can’t confirm until after 3 months Confused Face
Sr. Member
Apr 16, 2007
819 posts
161 upvotes
Toronto
Just called to confirm about the $250. They said the 60 days starts when you hit $250 and it doesn’t matter if it didn’t go in as $250 all at once.

I had some EFTs over the course of two weeks of $100 or so and $50-$75 totalling $297. Then I did a 250.01 deposit e-transfer just to make sure. The agent on the phone told me I am good and put a note on the file
Deal Addict
User avatar
Feb 25, 2004
1710 posts
187 upvotes
416
I failed to open online and verify identity , I provided SIN and a referral code that I found on reddit (instead of the code "FREE") , but I am currently out of town and can't verify identity until after the promo is over ...

Does it say the promo applies only for Opened and CONFIRMED / VERIFIED accounts ? Or can I still verify my identity and have the offer honored even if it's in a few days / weeks ?
Member
User avatar
Dec 3, 2009
249 posts
65 upvotes
Burlington
grilw wrote: I failed to open online and verify identity , I provided SIN and a referral code that I found on reddit (instead of the code "FREE") , but I am currently out of town and can't verify identity until after the promo is over ...

Does it say the promo applies only for Opened and CONFIRMED / VERIFIED accounts ? Or can I still verify my identity and have the offer honored even if it's in a few days / weeks ?
I failed verification at post office due to expired driving licence.
When i went tru sign up i was given a list of documents needed and a bar code. From memory it was valid for 4 to 5 weeks. You have to verify at a post office to open an account within the time frame shown on the printout.
Sr. Member
Aug 31, 2001
581 posts
59 upvotes
Can i apply if I already have a savings account
Jr. Member
Apr 14, 2011
120 posts
52 upvotes
New Brunswick
Sedul wrote: Can i apply if I already have a savings account
Only available to new customers

"*The Tangerine Bank (the “Bank”) New Client Chequing Bonus Offer of $200 (the “Offer”) is available between January 3, 2020 and April 30, 2020 (the “Offer Period”), to new Tangerine Clients who, as defined in the full Offer Terms and Conditions, successfully open a Tangerine Chequing Account using the Orange Key “FREE” with an initial deposit of at least $250 within the Offer Period and either: (i) switch their eligible payroll direct deposits for at least 3 consecutive months, or (ii) set up a minimum of two (2) eligible recurring pre-authorized payments of at least $50 each that continue for at least 3 consecutive months. The first eligible payroll direct deposit or eligible recurring pre-authorized payments must be made to/from the Client’s Tangerine Chequing Account within 60 days of successfully opening the Chequing Account. The $200 Bonus will be paid to the Primary Account Holder’s Tangerine Chequing Account in the subsequent month following the satisfaction of all Terms and Conditions applicable to the Offer. Offer is not transferable and can’t be combined with any other Client Chequing Bonus offers. Limit of 1 Offer per Primary Account Holder. Full Offer Terms and Conditions, including definitions of any capitalized terms and a list of eligible payroll direct deposits and recurring pre-authorized payments, are available here. Offer may be changed, extended or cancelled without notice."
Member
Nov 24, 2019
434 posts
516 upvotes
Saskatoon
So for anybody that has been with Tangerine for a while, I'm curious how they deal with holds/overdraft.

Say I have $0 in my account Wednesday (to make the math easier). I get paid - by cheque, not direct deposit as small business - say $1000 on Thursday. As far as I can tell, that $1000 will be held for 5 business days. But I have a mortgage payment of $500 on that Friday. How does that work?

Does the mortgage payment get denied? Or it goes through if I have overdraft, but I'm charged the fee and interest for the 4 business days until the hold is gone? Don't really understand that.
Jr. Member
Apr 14, 2011
120 posts
52 upvotes
New Brunswick
SaskCanesFan wrote: So for anybody that has been with Tangerine for a while, I'm curious how they deal with holds/overdraft.

Say I have $0 in my account Wednesday (to make the math easier). I get paid - by cheque, not direct deposit as small business - say $1000 on Thursday. As far as I can tell, that $1000 will be held for 5 business days. But I have a mortgage payment of $500 on that Friday. How does that work?

Does the mortgage payment get denied? Or it goes through if I have overdraft, but I'm charged the fee and interest for the 4 business days until the hold is gone? Don't really understand that.
You have to apply for overdraft coverage. Once you are approve I believe it's for a certain amount like $5k depending on the person. Your payment will go through and you will be in overdraft. This is the email I get when my account gets overdrawn.

"A recent transaction has caused your Account to be overdrawn.

If the negative balance remains unpaid at the end of the day (11:59PM EST), a $5.00 fee will be charged to you. This fee will also be charged when the negative balance is carried over into each subsequent calendar month, until the negative balance is paid back in full. There is a maximum of one $5.00 fee per calendar month. Interest at 19.00% per annum, which is calculated daily and charged to you monthly, will start to accrue based on the end-of-day balance, and will be charged until the negative balance is paid back in full.

To maintain your Overdraft Protection, your Account must have a positive balance for one (1) full calendar day at least once every 90 days."
Member
Nov 24, 2019
434 posts
516 upvotes
Saskatoon
blueraven25 wrote: You have to apply for overdraft coverage. Once you are approve I believe it's for a certain amount like $5k depending on the person. Your payment will go through and you will be in overdraft. This is the email I get when my account gets overdrawn.

"A recent transaction has caused your Account to be overdrawn.

If the negative balance remains unpaid at the end of the day (11:59PM EST), a $5.00 fee will be charged to you. This fee will also be charged when the negative balance is carried over into each subsequent calendar month, until the negative balance is paid back in full. There is a maximum of one $5.00 fee per calendar month. Interest at 19.00% per annum, which is calculated daily and charged to you monthly, will start to accrue based on the end-of-day balance, and will be charged until the negative balance is paid back in full.

To maintain your Overdraft Protection, your Account must have a positive balance for one (1) full calendar day at least once every 90 days."
So they treat times with cash in you account but on hold the same way as with no cash in you account then by the looks of it?

I wasn't sure if you technically had the funds in you account but on hold, that once the hold was over they would retroactively waive the fee. This could be a bit of a problem as my fiance is paid by cheque. She currently banks at Scotia and was able to go in and have the hold removed so that her pay cheques are fully avaiable immediately since mortgage payment comes out the next day. Looking at moving everything to Tangerine but if you could be potentially looking at a $5 charge every 2 weeks then Scotia's monthly fee doesn't seem so bad.
Deal Fanatic
User avatar
Dec 11, 2005
8941 posts
1502 upvotes
TO
offer expired already yes?
"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
Jr. Member
Apr 14, 2011
120 posts
52 upvotes
New Brunswick
SaskCanesFan wrote: So they treat times with cash in you account but on hold the same way as with no cash in you account then by the looks of it?

I wasn't sure if you technically had the funds in you account but on hold, that once the hold was over they would retroactively waive the fee. This could be a bit of a problem as my fiance is paid by cheque. She currently banks at Scotia and was able to go in and have the hold removed so that her pay cheques are fully avaiable immediately since mortgage payment comes out the next day. Looking at moving everything to Tangerine but if you could be potentially looking at a $5 charge every 2 weeks then Scotia's monthly fee doesn't seem so bad.
When I deposit a cheque the first one thousand is available immediately and a hold is placed on the remaining amount. For ex if I deposit a cheque for $1,200 then only $200 is on hold.

You can always call Tangerine and ask what amount will be placed on hold for you and if it’s based on if you have good credit.
Sr. Member
Jun 13, 2019
867 posts
932 upvotes
Toronto
Do we need to maintain the initial $250 in chequing account? I called tangerine twice and got both answers - yes and no.
Deal Addict
Nov 7, 2013
1478 posts
1679 upvotes
Ottawa
Just called TD to ask process for cancelling with them (been a customer for over 30 years with them). They didn't even bat an eye: told me the process and didn't ask why we were even closing out Makes jumping ship to Tangerine way sweeter and easier.
Jr. Member
Apr 14, 2011
120 posts
52 upvotes
New Brunswick
trigger0 wrote: Do we need to maintain the initial $250 in chequing account? I called tangerine twice and got both answers - yes and no.
The referral promotion you had to have a minimum balance of $250 for 60 days but all I can find for this promo is this in the fine print no mention of how long.

“ an initial deposit of at least $250 within the Offer Period and either: (i) switch their eligible payroll direct deposits...”
Deal Addict
Jun 1, 2015
1054 posts
397 upvotes
Calgary, AB
Referred a friend during their promo for the $100 each. That thread is now locked. Just checked and both the friend and I only got $50 instead of $100 referral bonus

How is Tangerine with their customer service if you have screenshots etc to show you followed the right steps and didn't get the right bonus for the offer you applied for?
[OP]
Deal Addict
Nov 30, 2016
1417 posts
1966 upvotes
Waterloo Region
Just to let you all know that I got an email notifying me that the $200 has been deposited into my account. My wife got the same earlier today.
Easy $200 in the end.
Sr. Member
Jun 13, 2019
867 posts
932 upvotes
Toronto
Just a quick note to let you know that your $200.00 Bonus has been deposited into your Account and will appear in your Account History.

Thanks again for choosing Forward Banking with Tangerine.

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