# Tangerine Offered Me 2.73% till Sep. 30



## Joe Black (Aug 3, 2015)

I drained most of my Tangerine savings account to do a large mortgage pay down, and then took out the remaining few thousand to stick it into Zag.

When I logged in to Tangerine today to check the transfers, lo & behold the following message on my main screen:
_
You're earning a special rate! From Jul 05, 2016 to Sep 30, 2016, your interest rate on up to $500,000 in net new deposits to your Tangerine Savings Account(s) and Tangerine Tax-Free Savings Account(s) is 2.73% (This Offer applies where you're the primary Account holder)._

So, the little bit going to Zag goes back into Tangerine. Thought some of you might want to know, apparently somebody at Tangerine is paying attention. I can't be bothered to make the phone calls any more to try to negotiate a rate with them anymore, nice to see it gets triggered automatically now.


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## 0xCC (Jan 5, 2012)

They are targeting these offers. The range of rates seems to be 1.75%-3.25%.

I asked for an extension of the 2% special offer I had from the beginning of the year that expired at the end of June last week. I was told there was a new offer coming soon that I would be eligible for. I expected that offer would be for new deposits only so I transferred the bulk of my cash out of Tangerine for both myself and my wife. I have not received any of the special offers. So the cash is going to PCF for the 1.75% rate over the summer... Pretty disappointed in Tangerine right now.

Here are a list of "special offer" links that show the various interest rates:

https://www.tangerine.ca/en/landing-page/summersavings2016/101.html
https://www.tangerine.ca/en/landing-page/summersavings2016/102.html
https://www.tangerine.ca/en/landing-page/summersavings2016/103.html
https://www.tangerine.ca/en/landing-page/summersavings2016/104.html
https://www.tangerine.ca/en/landing-page/summersavings2016/105.html
https://www.tangerine.ca/en/landing-page/summersavings2016/106.html
https://www.tangerine.ca/en/landing-page/summersavings2016/107.html
https://www.tangerine.ca/en/landing-page/summersavings2016/108.html
https://www.tangerine.ca/en/landing-page/summersavings2016/109.html
https://www.tangerine.ca/en/landing-page/summersavings2016/110.html


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## gibor365 (Apr 1, 2011)

> They are targeting these offers. The range of rates seems to be 1.75%-3.25%.
> 
> I asked for an extension of the 2% special offer I had from the beginning of the year that expired at the end of June last week. I was told there was a new offer coming soon that I would be eligible for. I expected that offer would be for new deposits only so I transferred the bulk of my cash out of Tangerine for both myself and my wife. I have not received any of the special offers. So the cash is going to PCF for the 1.75% rate over the summer... Pretty disappointed in Tangerine right now.


Same her 
They extended 2% offer until September and declined my attempts to get higher rate... Today withdrew almost everything from tangerine) and gonna transfer to Oaken 2.75% 18mo GIC and/or 2.25% EQ...



> I was told there was a new offer coming soon that I would be eligible for


 who told you?!
They usually give promos end of Aug (kinda "back to school") and on new money only.


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## none (Jan 15, 2013)

Weird, my offer was for 2.82%. Not that it's a big deal for a couple thousand bucks really.


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## 0xCC (Jan 5, 2012)

gibor365 said:


> Same her
> They extended 2% offer until September and declined my attempts to get higher rate... Today withdrew almost everything from tangerine) and gonna transfer to Oaken 2.75% 18mo GIC and/or 2.25% EQ...
> 
> 
> ...


I would rather have the 2% on my entire balance than 3.25% on new deposits. There is no way I would be able to add 50% to my existing balance in 3 months to make up for the extra 1.25% in interest.

I was "told" I would be eligible for a new promotion last week when I tried to get the 2% on existing balance using the online chat feature.

I don't expect a new offer now until the existing offer expires. Maybe they will have a non-targeted offer around back to school time. I would only expect it to match the 1.75% from PCF though.


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## peterk (May 16, 2010)

Thanks for the heads up Joe! I Just removed everything from Tangerine at the end of June, I was get 2.76% from April until June 30. Now I log in and it says I get 3.25% until Sept 30th! 

I don't know why I keep getting the good deals for being a distinctly disloyal customer... I'll take it though, moving my whole 100k cash into Tangerine now until Sept 29th!


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## carverman (Nov 8, 2010)

PCF doesn't pay diddly squat on their savings or TFSA (0.8% if that). I've got over 28k in the PCF TFSA and thinking to pull some of it out and put that into a HIS with another bank. I'm a novice at this, never have done this before.

I was thinking about Tangerine until I read some of the feedback, but still interested.
As a new customer, I guess I wouldn't get any special rate from them.

Looking at their posted rates online, I don't see any what I would call HIS accounts. They offer a 1 yr TFSA Guranteed 
investment at 1.40%, but to take advantage of the higher rate, I would have to cancel my TFSA at PCF and transfer
everything over to Tangerine. I don't want to lock up my money for more than 1 year due to my age and health.
I still have 3 ($10K GIC with PCF (ladder scheme) and they wont mature until 2017,2018, and 2019. 

Question 1: If I do decide to transfer some of my TFSA with PCF over to Tangerine to put into a HIS..how should I go about it?

Question 2: How would I could get at some of the money in a Tangerine HIS if I needed it in the future. I suppose I could always transfer some of it back to my PCF checking acct?


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## Beaver101 (Nov 14, 2011)

carverman said:


> PCF doesn't pay diddly squat on their savings or TFSA (0.8% if that). I've got over 28k in the PCF TFSA and thinking to pull some of it out and put that into a HIS with another bank. I'm a novice at this, never have done this before. ...
> 
> Question 1: If I do decide to transfer some of my TFSA with PCF over to Tangerine to put into a HIS..how should I go about it?
> 
> Question 2: How would I could get at some of the money in a Tangerine HIS if I needed it in the future. I suppose I could always transfer some of it back to my PCF checking acct?


 .... 1. not hard - just follow instructions on either website under TFSA subject, but 2. keep in mind of transfer fees ... PCF charges $50 that Tangerine may pick up ... and Tangerine charges $45 (not sure if HST applies though).


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## humble_pie (Jun 7, 2009)

peterk said:


> Thanks for the heads up Joe! I Just removed everything from Tangerine at the end of June, I was get 2.76% from April until June 30. Now I log in and it says I get 3.25% until Sept 30th!
> 
> I don't know why I keep getting the good deals for being a distinctly disloyal customer... I'll take it though, moving my whole 100k cash into Tangerine now until Sept 29th!




idk, maybe they have a special welcome back rate for hero fort macMurrians?

(jk) seriously, the thing now is to figure out how long one has to kidnap one's funds *away* from tangerine in order for their spreadsheet rate tool to recognize one as bona fide *new business* & award the special "new account" bonus rates.

obviously overnight or a week or 2 away won't cut the biscuit. But how long away, exactly, will cut the biscuit?

i mean, if distinctly-disloyal & only-2000-dollars can capture bonus rates, it behooves the loyals to learn how to outsmart the tangerine algo.

.


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## Eclectic12 (Oct 20, 2010)

Beaver101 said:


> carverman said:
> 
> 
> > ... Question 1: If I do decide to transfer some of my TFSA with PCF over to Tangerine to put into a HIS..how should I go about it?
> ...


The advantage of a transfer is that it does not need TFSA contribution room where the disadvantage is that a transfer fee likely needs to be dealt with. Keep in mind also that from other posts, if a rebate is made ... the reports are that it is paid to the taxable account so that one will need contribution room to put the fee back.

Where one has enough TFSA contribution room to absorb the amount being moved (or it is late in the year so that one won't have to wait too long for the calendar year change converting the withdrawal amount into contribution room) ... some people prefer to keep it simple by withdrawing from one TFSA then contributing to other.

YMMV as to what makes the most sense.




carverman said:


> ...Question 2: How would I could get at some of the money in a Tangerine HIS if I needed it in the future. I suppose I could always transfer some of it back to my PCF checking acct?


If you link the Tangerine account to the PCF one, then yes. Another choice is to setup a Tangerine chequing account so that one can write cheques. I'm not sure what their ATM situation is like these days. It might also be possible to setup as savings account that one can get at via ATM.

If you are keeping the PCF account, at least in the short term ... that's probably the easiest way to go.


Cheers


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## 0xCC (Jan 5, 2012)

humble_pie said:


> idk, maybe they have a special welcome back rate for hero fort macMurrians?
> 
> (jk) seriously, the thing now is to figure out how long one has to kidnap one's funds *away* from tangerine in order for their spreadsheet rate tool to recognize one as bona fide *new business* & award the special "new account" bonus rates.
> 
> ...


Ok, so as a data point to help try to figure this out I had the special 2% offer from around Christmas until June 24. I had mid-5 figures in my combined accounts. On June 29 I transferred out a little less than half of my total balance and on June 30 I transferred out everything else except a few hundred dollars. I did not get any of the special rate offers.

So obviously I cut it too close to the new promotion date. I'm wondering now if I should have moved the money as soon as my special rate expired (or a day or two earlier).


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## Spudd (Oct 11, 2011)

I had 300kish in Tangerine with the 2% offer. When the Zag offer came along, I transferred it all to them. Now Tangerine offers me 3.25% to come back (which I will, gladly). Of course it's not 300kish any more, I bought real estate in the interim!


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## peterk (May 16, 2010)

0xCC said:


> On June 29 I transferred out a little less than half of my total balance and on June 30 I transferred out everything else except a few hundred dollars. I did not get any of the special rate offers.
> 
> So obviously I cut it too close to the new promotion date.


Hrmm, I wouldn't say so necessarily ... I had about 30k in Tangerine during June, and transferred it all out on June 28th and June 29th, leaving a few stray bucks. Got the 3.25% offer on July 5th... How long have you been a customer? I've been with ING since 2005.


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## peterk (May 16, 2010)

humble_pie said:


> i mean, if *distinctly-disloyal* & only-2000-dollars can capture bonus rates, it behooves the loyals to learn how to outsmart the tangerine algo.
> 
> .


Yikes, I hope that name doesn't stick... I'd prefer Sock Beggar, I think. :biggrin:


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## humble_pie (Jun 7, 2009)

peterk said:


> Yikes, I hope that name doesn't stick... I'd prefer Sock Beggar, I think. :biggrin:



me i kind of like distinctly-disloyal, it has a nice highwayman outlaw appeal ...


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## humble_pie (Jun 7, 2009)

peterk said:


> I had about 30k in Tangerine during June, and transferred it all out on June 28th and June 29th, leaving a few stray bucks. Got the 3.25% offer on July 5th... How long have you been a customer? I've been with ING since 2005.



how astonishing. I find it hard to believe that an absence of only 7 days will make the big citrus's heart grow so much fonder. Surely they would normally require a much longer absence than one week?

of course, it's possible that the tangerine rate tool also has a lottery-like application. Some departees may get welcomed back with a loving 3.25% even though they only stomped out last week.

meanwhile others may be randomly cold-shouldered down to 1.75% or - horrors - the base rate of .75% or whatever-it-is at present


.


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## 0xCC (Jan 5, 2012)

peterk said:


> Hrmm, I wouldn't say so necessarily ... I had about 30k in Tangerine during June, and transferred it all out on June 28th and June 29th, leaving a few stray bucks. Got the 3.25% offer on July 5th... How long have you been a customer? I've been with ING since 2005.


I've been with ING since at least early 2007, probably since sometime in 2006 but I don't know for sure. Is there a way to check that? I only know it was at least 2007 because my work phone number in my settings is from a job I left in 2007.


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## peterk (May 16, 2010)

humble_pie said:


> me i kind of like distinctly-disloyal, it has a nice highwayman outlaw appeal ...





humble_pie said:


> how astonishing. I find it hard to believe that an absence of only 7 days will make the big citrus's heart grow so much fonder.
> ...
> meanwhile others may be randomly cold-shouldered down to 1.75% or - horrors - the base rate of .75% or whatever-it-is at present





0xCC said:


> I've been with ING since at least early 2007.


Beats me then 0xCC...maybe it's my disloyal outlaw appeal that keeps bringing them back for more! Maybe banks, like the ladies, can sense when you don't _really_ mean it that you'll walk out the door...


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## Beaver101 (Nov 14, 2011)

^ Or maybe their marketing/retention department is a little screwed in the head?


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## dotnet_nerd (Jul 1, 2009)

Do they pull these interest rates out of a hat?

My offer is for *3.1%* until Sept 30

That's actually more than I pay on my HELOC; I'm tempted to borrow a huge lump sum to make a small spread.


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## humble_pie (Jun 7, 2009)

.
tentative hypothesis: is it possible that the bank of Nova Scotia is behind this & it is crowd sourcing funds again. As in, suppose the BNS treasury needs big extra funds for an important borrower from now until after labour day.

perhaps it's cheaper & faster for BNS to raise capital via their tangerine subsidiary than to go the traditional interbank lending route?

additional possible bonus - would capital raised by a subsidiary like tangerine perhaps not be subject to the strict Basle III tier controls that govern the big chartered banks? in other words, could parent bank BNS quickly gain access to less regulated capital pools via the citrus?

it's the suddenness of these way-off-the-mark 3.1% & 3.5% deals that is drawing out the skeptical questions ...


.


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## 0xCC (Jan 5, 2012)

The highest rate is 3.25%, still higher than most but not quite 3.5%. Also, it is only on new money. I wonder if net-net they actually end up with more funds on deposit after everyone that didn't get an offer (which maybe were people that had higher balances on June 30) pull their funds out like I did.


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## gibor365 (Apr 1, 2011)

0xCC said:


> The highest rate is 3.25%, still higher than most but not quite 3.5%. Also, it is only on new money. I wonder if net-net they actually end up with more funds on deposit after everyone that didn't get an offer (which maybe were people that had higher balances on June 30) pull their funds out like I did.


I withdraw almost everything from Tangerine, gonna buy 18 mo GIC for 200K (2 accounts) and rest to keep in EQ until Tangerine offers promo on new $


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## mordko (Jan 23, 2016)

Got the 3.25% offer today. Wondering about borrowing $150K on my 2.25% HELOC to put into Tangerine. Not a huge differential, but still better in my pocket than in theirs.


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## gibor365 (Apr 1, 2011)

mordko said:


> Got the 3.25% offer today. Wondering about borrowing $150K on my 2.25% HELOC to put into Tangerine. Not a huge differential, but still better in my pocket than in theirs.


Is it on new money or balance?


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## carverman (Nov 8, 2010)

Eclectic12 said:


> The advantage of a transfer is that it does not need TFSA contribution room where the disadvantage is that a transfer fee likely needs to be dealt with.


Oh well if it's a $50 one time transfer fee, I can handle that. I still have lots of contribution room with PCF. 
Is is possible to keep some of my savings in the PCF TFSA and open up another TFSA with Tangerine/TDBank? 



> Keep in mind also that from other posts, if a rebate is made ... the reports are that it is paid to the taxable account so that one will need contribution room to put the fee back.


Do you mean the $50 transfer fee rebate or some other form of rebate? 



> Where one has enough TFSA contribution room to absorb the amount being moved (or it is late in the year so that one won't have to wait too long for the calendar year change converting the withdrawal amount into contribution room) ... some people prefer to keep it simple by withdrawing from one TFSA then contributing to other.


So lets see, I transfer $10k from my PCF TFSA to my PCF checking account. 

Open up a TFSA with Tangerine/TD , and write a check for $10K from PCF (or whatever my current contribution room left) 
into the TFSA there. Does this make sense?





> If you link the Tangerine account to the PCF one, then yes. Another choice is to setup a Tangerine chequing account so that one can write cheques. I'm not sure what their ATM situation is like these days. It might also be possible to setup as savings account that one can get at via ATM.


Which ATM do they use these days ? TD? 



> If you are keeping the PCF account, at least in the short term ... that's probably the easiest way to go.


I am keeping my PCF account. I have $30k GICs with them where $10k GICs mature every year and I still have 2.5 years to go with those.
I just want some better return on my TFSA, and it's tough to find banks that pay more than 0.8% on large cash deposits sitting
there, where the bank can use my money and charge more interest, but pay me next to nothing for using my money.


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## mordko (Jan 23, 2016)

gibor365 said:


> Is it on new money or balance?


On the new money.


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## gibor365 (Apr 1, 2011)

mordko said:


> On the new money.


and what was the date (when $ called "new")?


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## mordko (Jan 23, 2016)

6th of July to Spt 30th. Turns out my HELOC interest is 2.00% which makes it a bit more interesting.


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## Eclectic12 (Oct 20, 2010)

carverman said:


> ... Is is possible to keep some of my savings in the PCF TFSA and open up another TFSA with Tangerine/TDBank?


Yes ... though make sure to negotiate any transfer fee rebates before opening the TFSA that will receive it. The possibility that another place might get the business may be the only leverage you have.




carverman said:


> ... Do you mean the $50 transfer fee rebate or some other form of rebate?


The transfer fee rebate. I'd have to find the post again but from what I recall, the issue is that the sending institution usually deducts this from the TFSA (like a brokerage TFSA deducting the commission). The receiving institution can pay you the $$$ but to top the account back up, one needs to use TFSA contribution room.




carverman said:


> Eclectic12 said:
> 
> 
> > ... some people prefer to keep it simple by withdrawing from one TFSA then contributing to other.
> ...


In my case, I had opened the second TFSA long before the transfers but you have the idea. 

Where I had the TFSA contribution room, I used the web access to transfer from the first TFSA to first chequing account then wrote a check. I used the ATM to deposit the chequing account (I have two of those as well) and finished up using the web to transfer from chequing to the second TFSA. All done in about an hour.

The end of the year version had the difference of the transfer, cheque & ATM deposit Dec 27th or so. The transfer to the second TFSA was done Jan 5th or so.


The end of the year version means likely means there won't be any bookkeeping required for the TFSA withdrawal becoming contribution room, where the same amounts are used. For example, withdraw $10K last year does mean this becomes $10K contribution room this year but the $10K contribution cancels it out.

Where one plans to do the withdrawal/re-contribution in the same year, one needs to be sure there is the needed amount unused *and* update one's bookkeeping so that the withdrawn amount is added to the annual amount granted the year after the withdrawal.

Of course the transfer avoids bookkeeping ... it just has the transfer fee.




carverman said:


> ... Which ATM do they use these days ? TD?


Not TD ... or did you forget that BNS bought them?



> You can withdraw your money for free nation-wide at over 3,500 ABMs (Automated Banking Machines) on the Scotiabank® ABM Network


https://www.tangerine.ca/en/ways-to-bank/automated-banking-machines/index.html

I'm not sure what impact of leaving "The Exchange Network"tm is.




carverman said:


> ... I just want some better return on my TFSA, and it's tough to find banks that pay more than 0.8% on large cash deposits sitting
> there, where the bank can use my money and charge more interest, but pay me next to nothing for using my money.


Question is does it need to be more liquid than the GICs?

The barrier to rate hopping for TFSAs is the transfer fee. Which is one of the reasons why except some emergency funds, most of my TFSA $$$ are in the brokerage TFSA. Few of the higher rates stick around so I find it easier to use a mix of broker HISA MFs that pay the same with a percentage in the preferred flavour of split shares that pay five times or so more.


Cheers


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## carverman (Nov 8, 2010)

Eclectic12 said:


> Yes ... though make sure to negotiate any transfer fee rebates before opening the TFSA that will receive it. The possibility that another place might get the business may be the only leverage you have.
> 
> Of course the transfer avoids bookkeeping ... it just has the transfer fee.
> 
> The barrier to rate hopping for TFSAs is the transfer fee. Which is one of the reasons why except some emergency funds, most of my TFSA $$$ are in the brokerage TFSA. Few of the higher rates stick around so I find it easier to use a mix of broker HISA MFs that pay the same with a percentage in the preferred flavour of split shares that pay five times or so more.


No matter what you do, the banks try to rip you off. at 1.6% for a TFSA GIC, thats about $160 interest on a $10K transfer. 
(only another $80 earned provided the $10k is left with them for an entire year!)

If PCF charges me a $50 transfer fee on that $10,000 (which currently earns a measly $80 per year, that would leave $30 left over of what they would pay me IF I leave my $10k with them,
unless Tangerine re-imburses me for the $50 transfer fee, I would have to wait another 365 days to make a "big" $160 on that transferred $10K which is taxable.

So $160 of interest minus $50 transfer fee would only would yield $130 for the entire year.... and I would have to leave
my $10K with Tangerine (Scotia Bank disguise) for another 365 days with them at that.

Now, if I leave that $10K with PCF, I get only $80 for the entire year, but I'm only at the halfway point in the year,
so that is about $40 of what the $10k earns in interest. Enough to buy a case of beer and that's it. 
No wonder people say, leave your money in the bank and it just "rots" there!

So what do I gain by doing this?

The other thing is that the Scotiabank/Tangerine ATM is not convenient for me. I have a TD ATM right next to where
I live, a CIBC and a Loblaws with a PCF ATM inside. 
So I would have to open a checking acct with Tangerine to transfer any funds from the TFSA (withdrawal) and write checks rather than have the cash instead. Not as convenient.


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## Beaver101 (Nov 14, 2011)

carverman said:


> No matter what you do, the banks try to rip you off. at 1,6% for a TFSA GIC, thats about $160 on a $10K transfer. If PCF charges me a $50 transfer
> fee on that $10,000 (which currently earns a measily $80 per year, that would leave $30 left over and unless Tangerine re-imburses me for the $50]
> transfer fee, I would have to wait another 365 days to0 make a big $160 on that money which is taxable.


 ... since you still have contribution room, why don't you just open up a TFSA account (eg. at Tangerine) and save on the transfer fee/and hassle, for now that is? At least you'll get a slightly higher interest for the reminder of the year. Comes end of the year - you can consider a complete one-deal transfer out.


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## carverman (Nov 8, 2010)

Spudd said:


> I had 300kish in Tangerine with the 2% offer. When the Zag offer came along, I transferred it all to them. Now Tangerine offers me 3.25% to come back (which I will, gladly). Of course it's not 300kish any more, I bought real estate in the interim!


Sounds like Tangerine is pulling the old "bait and switch" routine..to get you back (ie: new accounts) they offer a bit more for a "few months", then it's back to the same old same old..chisel away at the interest rates they pay you if they know you are back with them. They should be ashamed.


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## carverman (Nov 8, 2010)

Beaver101 said:


> ... since you still have contribution room, why don't you just open up a TFSA account (eg. at Tangerine) and save on the transfer fee/and hassle, for now that is? *At least you'll get a slightly higher interest for the reminder of the year*. Comes end of the year - you can consider a complete one-deal transfer out.


Yes, I can do that Beav, but first I need if it will be worth all the hassle of switching over to them.

Sure, I want more interest on the money the PCF pays me (basically my money in the TFSA is "rotting in the bank" with PCF, it's not even keep up with inflation which is closer to 2.5% regardless of the BS that the gov't feeds us. 

I noticed that the purchasing power of the loonie has drop dramatically over the last 5 years...it doesn't even get you a decent cup of coffee any more at McDs or Timmies as an example. 

I mean..who orders a small coffee anyway?
Premium Roast Coffee	small $1.00	medium $1.49 large $1.69..add 13% tax on that too.

So here's the thing...if Tangerine want my money to lend out at a higher interest rate, they need to pay me more. 

If I have to lock in part of my TFSA money
for 12 months to get that extra 0.8% (1.6% interest on locked TFSA funds) they better sweeten the pot.

The other thing..I sent them an email inquiry last week about opening an acct with them ..*Interested in opening a HIS with your bank*
..got a email back from them..which I read as "thanks..we'll get back to you when we "get around to it".



> Thanks for your email. We'll get back to you just as soon as we can within the next two business days.
> 
> If the subject of your email is urgent, or if you need information specific to your Account, please call us at 1-888-826-4374. You can reach us by phone 24 hours a day, 7 days a week.
> 
> ...


Ya,thanks Tangerine client services..it's been over 3 days now..and nobody has called or emailed me..so I guess we won't be doing any business if you take on that kind of attitude towards new customers..."read the FAQ sucker!..Don't expect any personal service here..*we are too busy doing other things right now..like attracting former customer investors that have pulled out their money from us and gone elsewhere.*

"Is there anything else we can do for you?" yes, I know ...read the FAQ.


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## Beaver101 (Nov 14, 2011)

carverman said:


> Yes, I can do that Beav, but first I need if it will be worth all the hassle of switching over to them..


 ... well, you have to make that decision, after the plus and minuses .. hopefully your result is a plus for all the time you spent on figuring this out. 



> Sure, I want more interest on the money the PCF pays me (basically my money in the TFSA is "rotting in the bank" with PCF, it's not even keep up with inflation which is closer to 2.5% regardless of the BS that the gov't feeds us.


 ... you see the "stats experts" in the government or their ivory tower lives in their own world with the predicted 2.5% inflation when fruits and veggies (example) alone have gone up more than 10% over the last few years. 



> I noticed that the purchasing power of the loonie has drop dramatically over the last 5 years...it doesn't even get you a decent cup of coffee any more at McDs or Timmies as an example.
> 
> I mean..who orders a small coffee anyway?
> Premium Roast Coffee	small $1.00	medium $1.49 large $1.69..add 13% tax on that too.


 ... don't go for coffee alone - order a combo eg. small coffee + muffin =$1.75 (tax included) for now ... some MCD locations still have free refills, check ... if not, be sure to keep your loyalty sticker from the cup ... collect 7 stickers = free "medium" size coffee. And keep an eye out for periodic promotions of free small coffee - there's a thread in the Deals and Freebies for tracking this.



> So here's the thing...if Tangerine want my money to lend out at a higher interest rate, they need to pay me more.
> 
> If I have to lock in part of my TFSA money
> for 12 months to get that extra 0.8% (1.6% interest on locked TFSA funds) they *better sweeten the pot.*


 ... you have to have bargaining power for higher rates ... seems like all the banks are doing target marketing though Tangerine's offer of 3.25% these days (even for $300K) is questionable.



> The other thing..I sent them an email inquiry last week about opening an acct with them ..*Interested in opening a HIS with your bank*
> ..got a email back from them..which I read as "thanks..we'll get back to you when we "get around to it".
> 
> Ya,thanks Tangerine client services..it's been over 3 days now..and nobody has called or emailed me..so I guess we won't be doing any business if you take on that kind of attitude towards new customers..."read the FAQ sucker!..Don't expect any personal service here..*we are too busy doing other things right now..like attracting former customer investors that have pulled out their money from us and gone elsewhere.*.


 ... in this case, do an online chat during business hours or call them instead of waitng for a reply by email. I believe the banks have a 2 days turnaround policy for email replies and sometimes the reply is so generic that you have to send multiple emails to give them the a-b-cs like playing email tag. CSR replying via emails are on the lower rung of authority and have been trained to give you generic responses ... of which you can probably get the answer from the FAQ or as you're already aware ...



> "Is there anything else we can do for you?" yes, I know ...read the FAQ


Anyhow, why don't you consider opening the TFSA at the brokerage in the new year ... eg. CIBC Investor's Edge which have periodic promotions from time to time - eg. transfer $25k and get $100 + free trades and you then have the flexibility to purchase any investments in there - not necessary stocks but HISA (in the form of mutual funds, not GIC) as Eclectric12 has pointed out earlier. These HISA are CIDC protected.


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## carverman (Nov 8, 2010)

Beaver101 said:


> .
> 
> Anyhow, why don't you consider opening the TFSA at the brokerage in the new year ... eg. CIBC Investor's Edge which have periodic promotions from time to time - eg. transfer $25k and get $100 + free trades and you then have the flexibility to purchase any investments in there - not necessary stocks but HISA (in the form of mutual funds, not GIC) as Eclectric12 has pointed out earlier. These HISA are CIDC protected.


Thanks for the tip. I will investigate it. Mutual funds..what is the risk with those?

what's their website?


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## gibor365 (Apr 1, 2011)

carverman said:


> Thanks for the tip. I will investigate it. Mutual funds..what is the risk with those?
> 
> what's their website?


In CIBC IE you can buy HISA mutual fund ATL5000 .... no risk . Also you can buy 3rd party GIC online ... promos for transfering money are different, about month ago it was $300 and 50 free trades.


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## carverman (Nov 8, 2010)

gibor365 said:


> In CIBC IE you can buy HISA mutual fund ATL5000 .... no risk . Also you can buy 3rd party GIC online ... promos for transfering money are different, about month ago it was $300 and 50 free trades.


Thanks for the tip Gibor. 
Ii printed your suggestion off and will be contacting them shortly. 

Screw Tangerine which seems to be as greedy as the rest. If I have to lock in any funds for up to 365 days, I definitely want better returns than what I'm being tossed now..a bone basically:rolleyes2:

"here "po boy" we take pity on you using your money..how about 0.8 %? Better than stuffing it under your mattress. "


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## Eclectic12 (Oct 20, 2010)

carverman said:


> ... So what do I gain by doing this?


Which is why some keep the minimum emergency funds, don't go teaser rate chasing and put the rest in a brokerage TFSA where there are more choices.




carverman said:


> ... If I have to lock in any funds for up to 365 days, I definitely want better returns than what I'm being tossed now..a bone basically ...


It sounds like you have available contribution room so unlike those who have no contribution room left, it sounds like you have some flexibility.

It's likely not worth it IMO compared to opening a brokerage TFSA, though.


Cheers


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## gibor365 (Apr 1, 2011)

carverman said:


> Thanks for the tip Gibor.
> Ii printed your suggestion off and will be contacting them shortly.
> 
> Screw Tangerine which seems to be as greedy as the rest. If I have to lock in any funds for up to 365 days, I definitely want better returns than what I'm being tossed now..a bone basically:rolleyes2:
> ...


Yeap, Tangering is pissing me off too  . When i called them about new promo, they said :"how about 0.8 %?" that regular people get?! you're lucky to get 2%!

P.S. carverman, if you won't be satisfied with front line rep offer, ask to be contacted by regional sales manager... When I transfered my RRSP to CIBC IE, sales manager gave me better offer and practically all process was done very fast by emails... Just once I went to closest branch to drop envelop (when they require physical signature).

I just don't get how their algorithm is build to offer higher rates?! On my account I had about 100K when old promo was finished.... my mom had earlier big amount , but transfered out almost everything to EQ just before old promo was finished.. no one got offer with a good rate...
Have impression that they offering randomly, like in roulette :biggrin:


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## Beaver101 (Nov 14, 2011)

gibor365 said:


> *Yeap, Tangering is pissing me off too*  . When i called them about new promo, they said :"how about 0.8 %?" that regular people get?! you're lucky to get 2%!:


 ... ??? ... maybe it would be fairer for everyone if Tangerine limits the number of re-visiting "promotions" or limit them within a specified period ... ie. if you already took advantage of one promotion in the past year, can't revisit it again until another year plus ... 



> P.S. carverman, if *you won't be satisfied with front line rep offer, ask to be contacted by regional sales manager*... When I transfered my RRSP to CIBC IE, sales manager gave me better offer and practically all process was done very fast by emails... Just once I went to closest branch to drop envelop (when they require physical signature).


 .. good suggestion but keep in mind they would consider how much you're transferring in or how much $$$ they're going to make off his deposits. Also, keep in mind carverman can't make physical application / envelope drop so what alternative can they suggest to him ... good o'le snail mail-in after the online account opening.


> I just don't get how their algorithm is build to offer higher rates?! On my account I had about 100K when old promo was finished.... my mom had earlier big amount , but transfered out almost everything to EQ just before old promo was finished.. no one got offer with a good rate...
> 
> Have impression that they offering randomly, like in roulette :biggrin


 ... that's why the 3.25% rate being alluded is questionable.... maybe it's available for a $10,000,000 deposit or a 10 years GIC term? Why would a bank uses an algo for GIC deposits? Okay, for playing roulette ... during slow banking hours.


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## gibor365 (Apr 1, 2011)

> maybe it would be fairer for everyone


 this is only in communist society :biggrin:


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## Beaver101 (Nov 14, 2011)

gibor365 said:


> this is only in communist society :biggrin:


 ... but luckily you don't live in one currently for you to take advantage of. :wink:


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## gibor365 (Apr 1, 2011)

Beaver101 said:


> ... but luckily you don't live in one currently for you to take advantage of. :wink:


It's difficult to live in one, when it never existed in history :biggrin:


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## carverman (Nov 8, 2010)

Beaver101 said:


> ..
> 
> .. good suggestion but keep in mind they would consider how much you're transferring in or how much $$$ they're going to make off his deposits. Also, *keep in mind carverman can't make physical application* / envelope drop so what alternative can they suggest to him ... good o'le snail mail-in after the online account opening.
> .


I have a TD and CIBC right next to me within scooter/wheelchair distance, so it's not a problem for me to get into the local CIBC branch and sign the papers.
I may be lame, but I ain't dead yet....:biggrin:


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## gibor365 (Apr 1, 2011)

carverman said:


> I have a TD and CIBC right next to me within scooter/wheelchair distance, so it's not a problem for me to get into the local CIBC branch and sign the papers.
> I may be lame, but I ain't dead yet....:biggrin:


Exactly what I said...all process can be done via email...no need to make any "physical application", and instead of dropping in the branch, everyone can just mail envelope


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## Beaver101 (Nov 14, 2011)

gibor365 said:


> *Exactly what I said...*all process can be done via email...no need to make any "physical application", and instead of dropping in the branch, everyone can just mail envelope


 ... in this case, you can try being carverman's investment advisor :biggrin:


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## carverman (Nov 8, 2010)

Tangerine just sent me an email offering 2.4% introductory offer for 6 months and the instructions on how to transfer funds.
I'm thinking about $25K for starters in a HIS savings acct with them..that way my money is not locked up.
Is this a reasonable "good deal", or should I be looking at the CIBC investor acct that Gibor is talking about? 

BTW, I still have three 10K GICs with PCF ($30K in total), and the next one matures in January 2017. So I may move that as well, when they mature as they will be put in my regular PCF savings paying 0.8%. 

PCF will probably not match their 2.4%...right now as that one year GIC (5 year ladder GICs) is paying 2.0%. 

The next $10K maturing in January 2018 is paying 2.25% and the other $10K GIC maturing in 2018 is paying 2.5%. 

I like to move these as well now, but since they are locked in for a full year each, I doubt they will let me retrieve them until their due date.


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## gibor365 (Apr 1, 2011)

carveman, all depends what you want to do with your money .... if you want only HISA/GIC , imho, no point to open CIBC IE account ( even though you may negotiate $300 or so bonus signing ). Online banks generally give you higher rates for HISA and GIC.
I just bought GICs on 200K+ in Oaken , 18 months 2.75% interest. No discount brokerage or big bank gonna give you similar rate....
If you want just HISA, 2.4% from tangerine for 6 mo will be the best choice, 2nd choice EQ 2.25%


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## gibor365 (Apr 1, 2011)

carverman, wanted to send you PM, but got error _carverman has chosen not to receive private messages or may not be allowed to receive private messages. _


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## carverman (Nov 8, 2010)

gibor365 said:


> carverman, wanted to send you PM, but got error _carverman has chosen not to receive private messages or may not be allowed to receive private messages. _


Spasibo . I had turned it off a couple years ago when I was inundated with comments about my posts on the Toronto Pride Parade and how history during WWII had previously treated them...not going there..anyway I've turned PM back on.


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