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Tangerine

YMMV 4.30% Interest rate on New Savings from October 4 until December 31, 2022

  • Last Updated:
  • Nov 8th, 2022 9:36 pm
Jr. Member
Sep 9, 2004
146 posts
114 upvotes
Vancouver
Zaptor99 wrote: Activate this online-only offer to earn a special 4.30% interest rate* until December 31, 2022 on new deposits to your Tangerine Savings Account(s), including TFSA, RSP, and US$, up to $1,000,000 per Applicable Account Type.
I received the same offer today.
Newbie
Nov 26, 2021
24 posts
12 upvotes
Vancouver
Pretty good offer but only for new funds. Unfortunately I did not yet move my funds out, so not the greatest for me.

For folks that move their funds around to take advantage of these deals:

I've always thought to move my money around after rates expire, so that when a new offer for "NEW FUNDS" pops up, I can move all of my money back. However, I've always been worried about moving higher amounts of money around, lets say around mid 5 figures.

How do you typically move the money around? By cutting yourself a cheque, or by using the bank to send funds to another institution? I know Tangerine and EQ have systems where you can pull and push money to accounts that are linked, but I don't think every bank offers this.

Also, do you run into any issues moving these funds around? I guess banks deal with moving large sums of money all the time, but I've always wondered if the banks would give you issues and flag you.

Appreciate any replies or insights!
Deal Addict
Jan 27, 2007
1332 posts
1363 upvotes
rogersvictim2015 wrote: I just opened an account today @ 4.25% should I call them and ask them to change it to 4.3% will it work? Never had a Tangerine account before. I don't have any email of this interest change.

Cheers!
It's not an interest change, Tangerine sends different offers to different people. Then, when the offer ends, rate goes back to the very low regular rate. So, just before the offer ends, we move our money out and wait for a new offer since it's usually for new deposits only.
Deal Fanatic
Jan 21, 2018
7831 posts
8526 upvotes
Vancouver
Emails coming out now belatedly, if you didn't notice the offer online in your account Insights.
Deal Addict
Jan 27, 2007
1332 posts
1363 upvotes
Anjoel wrote: Pretty good offer but only for new funds. Unfortunately I did not yet move my funds out, so not the greatest for me.

For folks that move their funds around to take advantage of these deals:

I've always thought to move my money around after rates expire, so that when a new offer for "NEW FUNDS" pops up, I can move all of my money back. However, I've always been worried about moving higher amounts of money around, lets say around mid 5 figures.

How do you typically move the money around? By cutting yourself a cheque, or by using the bank to send funds to another institution? I know Tangerine and EQ have systems where you can pull and push money to accounts that are linked, but I don't think every bank offers this.

Also, do you run into any issues moving these funds around? I guess banks deal with moving large sums of money all the time, but I've always wondered if the banks would give you issues and flag you.

Appreciate any replies or insights!
I've been moving money back and forth between EQ and Tangerine for years without any issues. I don't remember the limits, but usually when you pull the money into a bank account, there is no limit, but if you push the money to another bank account there are limits. But the limits are only per transaction and not by day (I may be wrong), so you just make a few of them. I start moving the money about 5-6 business days before the offer ends.
Last edited by Zaptor99 on Oct 6th, 2022 9:11 am, edited 1 time in total.
Deal Fanatic
Feb 4, 2015
8891 posts
5145 upvotes
Canada, Eh!!
Just got email for 4.3%
2022: BOC raised 8 times and MCAP raised its prime next day.
2017 to 2018: BOC raised rates 5 times and MCAP raised its prime next day each time.
2020: BOC dropped rates 3 times and MCAP waited to drop its prime to include all 3 drops.
Sr. Member
User avatar
Aug 18, 2015
875 posts
709 upvotes
Halton, ON
Zaptor99 wrote: It's not an interest change, Tangerine sends different offers to different people. Then, when the offer ends, rate goes back to the very low regular rate. So, just before the offer ends, we move our money out and wait for a new offer since it's usually for new deposits only.
Yeah, looks like you are correct. I asked them on the phone and they said it's only for folks who got the email. Can't do nothing about it. lol.
I'll play the game y'all been playing. 🤣

Quick question - how to move large chunks of money in and out of Tangerine when you do this?

I could only move $2500 from RBC to Tangerine today because that was the limit of RBC interac.

Thanks for your input.

Cheers!
Newbie
Nov 26, 2021
24 posts
12 upvotes
Vancouver
Zaptor99 wrote: I've been moving money back and forth between EQ and Tangerine for years without any issues. I don't remember the limits, but usually when you pull the money into a bank account, there is no limit, but if you push the money to another bank account there are limits. But the limits are only per transaction and not by day, so you just make a few of them. I start moving the money about 5-6 business days before the offer ends.
Thanks Zaptor! Appreciate it - sounds like I should definitely be moving them around too. Got the Tangerine email this morning :(
Newbie
Nov 26, 2021
24 posts
12 upvotes
Vancouver
Zaptor99 wrote: I've been moving money back and forth between EQ and Tangerine for years without any issues. I don't remember the limits, but usually when you pull the money into a bank account, there is no limit, but if you push the money to another bank account there are limits. But the limits are only per transaction and not by day, so you just make a few of them. I start moving the money about 5-6 business days before the offer ends.
Thanks Zaptor! Appreciate it - sounds like I should definitely be moving them around too. Got the Tangerine email this morning :(
Deal Addict
Jan 27, 2007
1332 posts
1363 upvotes
rogersvictim2015 wrote: Yeah, looks like you are correct. I asked them on the phone and they said it's only for folks who got the email. Can't do nothing about it. lol.
I'll play the game y'all been playing. 🤣

Quick question - how to move large chunks of money in and out of Tangerine when you do this?

I could only move $2500 from RBC to Tangerine today because that was the limit of RBC interac.

Thanks for your input.

Cheers!
You create an external link online from Tangerine to RBC. You're allowed 3 external links to banks. Then you can initiate the transfers back and forth from Tangerine. It takes about 3 days to transfer.
Sr. Member
User avatar
Aug 18, 2015
875 posts
709 upvotes
Halton, ON
Zaptor99 wrote: You create an external link online from Tangerine to RBC. You're allowed 3 external links to banks. Then you can initiate the transfers back and forth from Tangerine. It takes about 3 days to transfer.
Is there any limit on transfer amount? I can transfer to or from RBC from my Tangerine portal? Thats cool.

Thanks!
Member
Sep 12, 2018
398 posts
221 upvotes
I came here to say that for the first time ever since 2017 I gotta an promotional email from Tangerine 🤣🤣🤣
2017 - Koodo - $35/5GB
2019 - Zoomer - $40/6GB
2020 - Telus - 2x $40/25GB
2022 - Koodo - 2x $35/50GB
2022 - PS5 - $207 - SDM Big Redemption Event
2022 - OLED 55" - $350 - Skyworth OLED 55"
Sr. Member
Oct 16, 2011
511 posts
356 upvotes
Zaptor99 wrote: You create an external link online from Tangerine to RBC. You're allowed 3 external links to banks. Then you can initiate the transfers back and forth from Tangerine. It takes about 3 days to transfer.
Is there a limit on how much you can transfer between banks? For example, EQ to Tangerine or vice versa?
Sr. Member
Oct 31, 2005
688 posts
251 upvotes
I got the Insights message for 4.3% ($0 currently in Tangerine) and was going to move the money.

Then I logged into my Simplii account and apparently they bumped the 3.8% I was getting until Oct 31 to 4.75%. So I guess the money is staying in Simplii.
Deal Addict
Jan 27, 2007
1332 posts
1363 upvotes
rogersvictim2015 wrote: Is there any limit on transfer amount? I can transfer to or from RBC from my Tangerine portal? Thats cool.

Thanks!
When you transfer into Tangerine, there is no limit (well, maybe 1 mil per transaction). The offer only applies to 1 mil of new money.
When you transfer out from Tangerine, I think the limit is 50k, either by transaction or by day, I forget, but no overall limit. That's why I always start moving out 5-6 business days to make sure they're out before any new offer comes in.
Sr. Member
User avatar
Aug 18, 2015
875 posts
709 upvotes
Halton, ON
Zaptor99 wrote: When you transfer into Tangerine, there is no limit (well, maybe 1 mil per transaction). The offer only applies to 1 mil of new money.
When you transfer out from Tangerine, I think the limit is 50k, either by transaction or by day, I forget, but no overall limit. That's why I always start moving out 5-6 business days to make sure they're out before any new offer comes in.
Thanks a bunch. Will get on it.

Cheers!
Member
Jul 6, 2008
216 posts
82 upvotes
The semi annual EQ, Tangerine, Simplii ping pong game continues.
Deal Addict
Oct 4, 2006
3125 posts
2116 upvotes
Toronto
Was anyone able to call in to receive the 4.3% rate?
Member
Mar 17, 2017
365 posts
170 upvotes
I have a joint checking account with my wife. I have the 3.5% rate on my saving accounts until december 31. My wife just receive the 4.3% email. Can I move my money frome my saving accounts to her saving accounts to got the 4.3% rate?
Deal Addict
User avatar
Aug 3, 2009
2211 posts
659 upvotes
Nova Scotia
where the hell is simplii financial to compete so I can get out of tangerine and get $$$$$

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