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Curious on how Tangerine Handles situations when clients pull funds out after “special rate” offers expire. My offer expires Saturday.

if you pull funds out, do they typically send you new offers? When? Is there a typical cycle or seasonality to their offers?
 

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^ I don't think they care these days. Besides I'm not a rate chaser so I pulled mine's out regardless.

It would be better if they make the "special rate" offer to true "loyal-clients" BEFORE the pull-out.
 

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I went through this a couple of weeks ago. Special rate of 2.5% expired after 5 months of "new client" offer. I called to see what they can offer and the answer was 1.3%. Since I have better options I pulled everything out. A couple of days ago I got a message in their insights messages centre asking me if I want to be contacted regarding a special rate. I agreed and am still waiting for the call. Will let you know.
 

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I pull a sizeable chunk out and usually get an email about a rate offer that sometimes includes deposits already held at Tangerine but more often applies to new deposits after a set date.
My friend left his money there and for about a year received no offers. With a few days of moving money out, he received a similar offer to what I had received.

I've never tracked it down to the timing.


FWIW ... I'm currently using the Tangerine offer as I had too much money in Simplii as of the water mark date to make use of their slightly higher but same time frame promo offer.



Cheers
 

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I tend to bounce between EQ Bank and Tangerine. Typically I get an offer once I pull everything into EQ. The last offer expire at the end of FEB.
 

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I tend to bounce between EQ Bank and Tangerine. Typically I get an offer once I pull everything into EQ. The last offer expire at the end of FEB.
Exact same. Though lately the Tangerine offers are not like clockwork anymore. They might come right away, or months later (after leaving it in EQ bank for a while).
 

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For everyone that is using hisa are you using a tfsa hisa or a regular one? I ask because wouldn't the regular one eat away at the interest you make?
 

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For everyone that is using hisa are you using a tfsa hisa or a regular one? I ask because wouldn't the regular one eat away at the interest you make?
For me it's in a regular account so although taxable i'm just trying to squeeze the best rate out of the cash I need immediate access to.

For example. I tend to purchase everything on credit card. The cards are paid in full each month so my salary will sit in the hisa until I pay the bill. Property tax paid 4 times per year so the accumulation of funds sits in the HISA.

There is much more than this in the "pot" but those are the main 2 examples. If I average it out I would say it floats around the $20k to $30k mark. Some might say it's not worth doing but to push and pull the funds is 2 minutes effort to make my money work that little bit harder for me.

The balance is much lower at the minute as those accumulated funds are also used to boost the RRSP contribution.

TFSA is not practical for me as I would quickly eat up contribution limits with this method. I save the TFSA for purely stock trades.

I have noticed a shift where some of the better rates are now only being offered inside a TFSA or RRSP.
 

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They always offer me a new promo eventually, but it's usually at least a couple months after I pulled the funds. I'm often with a new promo with Simplii at that point, so usually I accept the new promo but don't start transferring back until the Simplii promo is about to end.
 

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@l1quidfinance : I see. That is a good point that it only takes 2 minutes to transfer the funds form one account to the other. You trust the companies you deposit your money into? I have personally not used tangering, EQ, Alterna etc. Right now I have only contributed around 11k to my TFSA so I am thinking that I have quite a lot of contribution room.
 

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For everyone that is using hisa are you using a tfsa hisa or a regular one? I ask because wouldn't the regular one eat away at the interest you make?
Sure ... but except for a few periods of promo rates for the TFSA HISA, some are paying something like 0.10% so being able to have six or nine months of 2% beats it even with the taxes.

To be clear, I'm using both ... the TFSA less frequently as it is harder to manage as typically a Dec withdrawal with a Jan contribution to the account with a promo rate makes it more difficult.


Cheers
 

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Sure ... but except for a few periods of promo rates for the TFSA HISA, some are paying something like 0.10% so being able to have six or nine months of 2% beats it even with the taxes.
I see. You make a really good point. I am not too aware of the HISA and TFSA HISA rates but that is something to consider.
 
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