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Tangerine

Special Interest Rate on new deposits until January 31, 2022 (1.4%) YMMV

  • Last Updated:
  • Sep 26th, 2021 12:37 pm
Jr. Member
Oct 31, 2010
108 posts
44 upvotes
Calgary
User11223344 wrote: Offer Terms:
We totalled up the balances of your eligible Savings, TFSA, RSP Savings, and US$ Savings Account(s) as they were on September 6, 2021 to get your total balances per Account Type
From September 7, 2021 to January 31, 2022, you’ll earn your special interest rate on new deposits over your total balances calculated on September 6, 2021 (up to $1,000,000† per Account Type)
The rest of your Account balance will earn the current posted rate

So basically wahtever money in your savings account(s) wont get the 1.4% as of this point. Only new deposits will get it. If you were like me where all my money is in the savings account, you are out of luck.
That's a bummer, I'm on the same boat as you.
Sr. Member
Apr 5, 2009
509 posts
1029 upvotes
Vancouver
Fuuuuuuuuuuuuuuc

Just deposited a bunch of money last week.
Deal Addict
May 1, 2018
1607 posts
1139 upvotes
Vancouver
Can I move out all the money in my Savings account, activate the offer, and then move it back in right after and it'll be counted as a new deposit?
Sr. Member
User avatar
Jun 18, 2004
527 posts
300 upvotes
Vancouver Island
Alivenate wrote: Can I move out all the money in my Savings account, activate the offer, and then move it back in right after and it'll be counted as a new deposit?
This will not work, the bonus interest is based on amounts above the total balance in your savings accounts as of September 6
Jr. Member
Jun 22, 2011
188 posts
67 upvotes
piranhaa wrote: Tangerine is no longer the bank it used to be.

I have the 1.5% promo rate on my emergency fund account with a sizeable amount of funds. Last month I noticed I was just getting pennies in interest instead of the 1.5% promo.

When I called into Tangerine, they told me that because my paycheques were first hitting my chequing account, before I moved to the HISA account, all of my deposits were not eligible for the promo rate. It doesn't matter that they were sitting in the savings account for months. She totally agreed it was a pretty ridiculous fineprint, but it was set by the higher ups.

After being a Tangerine client for 15 years, back when it was ING, I moved to a different bank that actually gives the interest rates they promote.
That's strange. I've never had this issue. As long as I moved money form chequing to the savings it worked. But only for everything past the amount originally in there.
Deal Expert
User avatar
Aug 6, 2001
15595 posts
3472 upvotes
Stuck in a Box
Too bad. I am moving my funds to Simplii for now. They offered 2%
Deal Fanatic
Jul 4, 2004
8812 posts
1741 upvotes
Received the offer as well. I wasn't able to activate the offer from the banner, I clicked on the hamburger icon at the top left hand corner of the website, selected "insights" and was able to select and activate the offer from there.
Help an animal charity or sanctuary out today. Become a volunteer, advocate, foster a pet, or donate. They need you as much as you need them!
Deal Fanatic
Jul 4, 2004
8812 posts
1741 upvotes
piranhaa wrote: Tangerine is no longer the bank it used to be.

I have the 1.5% promo rate on my emergency fund account with a sizeable amount of funds. Last month I noticed I was just getting pennies in interest instead of the 1.5% promo.

When I called into Tangerine, they told me that because my paycheques were first hitting my chequing account, before I moved to the HISA account, all of my deposits were not eligible for the promo rate. It doesn't matter that they were sitting in the savings account for months. She totally agreed it was a pretty ridiculous fineprint, but it was set by the higher ups.

After being a Tangerine client for 15 years, back when it was ING, I moved to a different bank that actually gives the interest rates they promote.
Looking at the terms of the current 1.40% promotion,

"Offer Terms:
We totalled up the balances of your eligible Savings, TFSA, RSP Savings, and US$ Savings Account(s) as they were on September 6, 2021 to get your total balances per Account Type"

It doesn't look like they're including any amounts found in chequing accounts and I would've expected them to carry the chequing account condition going forward from the last promotion should it had been implemented. You should escalate this further and ask for a copy of the previous promotions' terms and I bet you'd be in the right. If you do decide to get this escalated, you'll get a response on your profile within 2 to 3 days.

A while back someone from Tangerine Investments gave me wrong information regarding an offer and I had that escalated and they paid me a week after they decided in my favor - it was about $140.
Help an animal charity or sanctuary out today. Become a volunteer, advocate, foster a pet, or donate. They need you as much as you need them!
Deal Addict
Apr 9, 2010
2246 posts
2370 upvotes
Toronto
piranhaa wrote: Tangerine is no longer the bank it used to be.

I have the 1.5% promo rate on my emergency fund account with a sizeable amount of funds. Last month I noticed I was just getting pennies in interest instead of the 1.5% promo.

When I called into Tangerine, they told me that because my paycheques were first hitting my chequing account, before I moved to the HISA account, all of my deposits were not eligible for the promo rate. It doesn't matter that they were sitting in the savings account for months. She totally agreed it was a pretty ridiculous fineprint, but it was set by the higher ups.

After being a Tangerine client for 15 years, back when it was ING, I moved to a different bank that actually gives the interest rates they promote.
I think the explanation given to you may have been incorrect. I've never had an issue getting promo interest and I've been participating in Tangerine's "new money" promotions for many years. My paycheques also go to my chequing first before being moved to savings. The fine print doesn't say anything about not getting promo interest on new money moved from chequing accounts.

Did you maybe take money out of any of your saving accounts during the promotion that dropped your balance to below what it was 1 day before the start day? They snapshot your entire savings balance 1 day before the promo starts and you only get promo interest on amounts higher than that snapshot balance.

For example, the day before the promo the balance of all your savings accounts totals to $100. Then if you withdraw $50, you will have to top up to more than $100 in order to get promo interest again.
Member
Jun 29, 2005
240 posts
74 upvotes
Edmonton
Frankie3s wrote: Looking at the terms of the current 1.40% promotion,

"Offer Terms:
We totalled up the balances of your eligible Savings, TFSA, RSP Savings, and US$ Savings Account(s) as they were on September 6, 2021 to get your total balances per Account Type"

It doesn't look like they're including any amounts found in chequing accounts and I would've expected them to carry the chequing account condition going forward from the last promotion should it had been implemented. You should escalate this further and ask for a copy of the previous promotions' terms and I bet you'd be in the right. If you do decide to get this escalated, you'll get a response on your profile within 2 to 3 days.

A while back someone from Tangerine Investments gave me wrong information regarding an offer and I had that escalated and they paid me a week after they decided in my favor - it was about $140.
I didn't think it was a great explanation on her part, but she said there was nothing they could do after she inquired into it. I didn't escalate though.

If my funds were still there I'd consider, but I moved all my funds out the following day. Their loss.
Member
Jun 29, 2005
240 posts
74 upvotes
Edmonton
silverele wrote: I think the explanation given to you may have been incorrect. I've never had an issue getting promo interest and I've been participating in Tangerine's "new money" promotions for many years. My paycheques also go to my chequing first before being moved to savings. The fine print doesn't say anything about not getting promo interest on new money moved from chequing accounts.

Did you maybe take money out of any of your saving accounts during the promotion that dropped your balance to below what it was 1 day before the start day? They snapshot your entire savings balance 1 day before the promo starts and you only get promo interest on amounts higher than that snapshot balance.

For example, the day before the promo the balance of all your savings accounts totals to $100. Then if you withdraw $50, you will have to top up to more than $100 in order to get promo interest again.
That makes sense and could explain it. I moved the majority of money out into investments in June/July, likely just around when the promo started.
Deal Fanatic
Aug 24, 2011
5516 posts
3702 upvotes
Toronto and London
Can I move money from my Tangerine Chequing account to my Savings and qualify?

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