Personal Finance

Tangerine Recipes: New Automated Activity Based Saving Features

  • Last Updated:
  • May 14th, 2019 7:42 am
[OP]
Deal Addict
Dec 28, 2009
1206 posts
900 upvotes

Tangerine Recipes: New Automated Activity Based Saving Features

Seems like Tangerine is introducing creative new ways to save money. I just logged into my account and found a new feature called "Recipes".

Some of these are really innovative, nice to see them thinking outside the box!

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22 replies
Member
Feb 9, 2018
307 posts
211 upvotes
This is really smart thinking from them.
Deal Addict
Nov 6, 2018
4535 posts
3495 upvotes
As a Toronto sports fan it's going to be very hard to save money.
Deal Addict
User avatar
Dec 17, 2008
2567 posts
1677 upvotes
Winnipeg
Gtaphotog wrote: As a Toronto sports fan it's going to be very hard to save money.
I think you can select "lose" as well... You'll save thousands!
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Deal Addict
Nov 6, 2018
4535 posts
3495 upvotes
Shawguy wrote: I think you can select "lose" as well... You'll save thousands!
Ah beautiful.

I'll be saving for the next 6 generations at this rate.
Jr. Member
Nov 8, 2009
156 posts
19 upvotes
Richmond, B.C
I dont see it in my tangerine account. Where do u guys see it?
Sr. Member
User avatar
Dec 21, 2007
678 posts
180 upvotes
Scarborough
Hmm I can see the top up being useful. I don't like to keep much in chequing so rather than getting an Orange alert below dollar x, now it can just top itself up from savings...
I am the Stig's brother's cousin's friend's former roommate.
Deal Addict
User avatar
Mar 25, 2012
1421 posts
645 upvotes
Kelowna
habsfan321 wrote: Seems like Tangerine is introducing creative new ways to save money. I just logged into my account and found a new feature called "Recipes".

Some of these are really innovative, nice to see them thinking outside the box!

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Yuck...gross...no thanks. One more reason for me to close all my Tangerine accounts entirely (will keep my Tangerine Ambassador orange scarf, though)! :(

How about...maybe Interac e-Transfers, which are instant or near-instant, free and unlimited? Also, how about disclosing, via our statements or e-Statements, the ATM ID and location information like you used to when on The Exchange?

Cheers,
Doug
Deal Addict
User avatar
Mar 25, 2012
1421 posts
645 upvotes
Kelowna
When the federal Liberals, under Justin Trudeau, lose the fall 2019 federal election, transfer $100,000 from Tangerine's interest income I/E account into each of Tangerine's customers' Chequing accounts.

They will be inundated with customer applications and quite likely bankrupt themselves. ;)

Cheers,
Doug
Deal Addict
Aug 5, 2006
4451 posts
1767 upvotes
Global Village
It would be funny if they tried a "when my team loses lock x amount of my money for a year," people will get more angry when their teams lose and Tangerine would get more GIC's..
All day I dream about sports
Newbie
Mar 1, 2019
10 posts
4 upvotes
Very similar to what motusbank offers. Although I'm curious if you can set up multiple "Pay Yourself First" recipes. As far as I know motusbank only allows you to set up one of it's equivalent "Auto-save" feature.
Deal Addict
User avatar
Feb 1, 2012
1175 posts
1463 upvotes
Thunder Bay, ON
This is kinda silly. I suppose it's OK for a little bit of extra savings for vacation or some item you are saving for.

But personal finance really requires disciplined budgeting and saving to succeed, especially long term for retirement. Tangerine should focus on teaching customers how to budget, and how to save for retirement. Simple items like saving 20% of your gross income or 15 % of your net income always from the time you begin earning money will do more to help people have successful long-term planning and financially secure retirement.

It's just not as much fun as randomly skimming off a bit of money every time your team wins, or saving whatever is left from your coffee purchase. There is a recipe called "Pay Yourself First" but it's the last one on the list, so probably would not get used as much as the other "fun" ones.

Whatever...
Invest your time actively and your money passively.

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