Terms and Conditions

Tangerine New Client 4.25% Interest Rate and Visa* Debit 20% Cashback Bundle Offer Terms and Conditions

Effective November 3, 2022: Amended the end of the Offer Period to November 2, 2022.

General Terms:

1. The Tangerine Bank (the "Bank") New Client 4.25% Interest Rate and Visa* Debit 20% Cashback Bundle Offer (the "Offer") is available to new Tangerine Clients who(se):

   1. Client Number (as defined below) with the Bank was created between September 23, 2022 and November 2, 2022 (the “Offer Period”);

   2. become a Tangerine Client using the Promo Code EARNMORE;

   3. open an Applicable Savings Account (as defined below) within 30 days of the date their Client Number was created;

   4. open a Tangerine Chequing Account within 30 days of the date their Client Number was created; and

   5. meet any additional terms and conditions set out in these Terms and Conditions

      (collectively the “Offer Qualifying Conditions”).

   A “Client Number” is created when a new Client submits his/her personal information (including, but not limited to, name, mailing address and email address) to the Bank as part of the Account opening process and is assigned a unique identification number.

2. An “Eligible Client” is one that meets all of the Offer Qualifying Conditions and who has never received a Tangerine cash bonus offer related to opening a Chequing or Savings Account or a promotional savings rate offer from Tangerine or its predecessor/subsidiary companies at any time previously.

3. In addition to these Offer Terms and Conditions, all Terms and Conditions associated with all Accounts will continue to apply. “Accounts” includes Applicable Savings Accounts and the Tangerine Chequing Account.

Terms Specific to the 4.25% Interest Rate (the “Promotional Rate”):

4. The Promotional Rate will apply to deposits made to an Eligible Client’s Applicable Savings Account(s) for 153 days (5 months) beginning on the date all Offer Qualifying Conditions have been met (the "Promotion Period"), to a maximum of $1,000,000 (in the currency of the Applicable Account) per Applicable Savings Account Type (as defined below).

5. The Promotional Rate is only applicable to deposits made during the Promotion Period to Tangerine Savings Accounts, Tangerine Tax-Free Savings Accounts, Tangerine RSP Savings Accounts, Tangerine RIF Savings Accounts and Tangerine US$ Savings Accounts (collectively referred to as "Applicable Savings Accounts") where the Eligible Client is the person whose name appears first on the Bank statement for the Account (the “Primary Account Holder”). For Accounts where an Eligible Client is not the Primary Account Holder (Example: the Eligible Client is not the Primary Account Holder on a joint Account and is listed second on the statement for that Account), the Offer will not be applied to that particular Account. Multiple Applicable Savings Accounts of the same type (for example, 3 separate Tax-Free Savings Accounts) is defined as an "Applicable Savings Account Type". The Promotional Rate is not applicable to deposits made to any other account types, including Tangerine Business Savings Accounts, Tangerine US$ Business Savings Accounts, Tangerine TFSA Kick Start Accounts, Tangerine Children’s Savings Accounts or Tangerine Chequing Accounts.

6. The Promotional Rate of 4.25% is an annualized rate and will apply to eligible deposits as outlined in Section 5. Subject to the limits and qualifications outlined in these Terms and Conditions, interest on eligible deposits made during the Promotion Period will be calculated daily at the Promotional Rate (“Promotional Interest”) and paid monthly to Applicable Savings Accounts. Eligible Clients will receive Promotional Interest in two separate payments – (1) interest calculated at the posted rate of interest listed on the Bank’s website which is subject to change without notice (the “Posted Rate”) is paid at the end of the month in which it was accrued (“Posted Rate Interest”), (2) interest calculated at a rate that reflects the difference between the Posted Rate and the Promotional Rate (“Additional Interest Rate”) is paid at the start of the month following the month in which it was calculated (“Additional Interest”). For clarity, the Promotional Rate will always equal the sum of the Posted Rate and the Additional Interest Rate such that if the Posted Rate changes, this will result in a corresponding change to the Additional Interest Rate so that the Promotional Rate remains unchanged. Similarly, Promotional Interest will always equal the sum of the Posted Rate Interest and the Additional Interest. Notwithstanding anything in this Section, the Bank may change the Promotional Rate at any time without prior notice.

7. Any Applicable Savings Account closed prior to the payment of Additional Interest will forfeit any Additional Interest calculated during the month in which the Applicable Savings Account is closed and will only earn Posted Rate Interest.

8. After the Promotion Period ends, all balances in the Applicable Savings Accounts will earn interest at the Posted Rate payable on the Applicable Savings Account. In the event that the combined balances of any given Applicable Savings Account Type is greater than $1,000,000 (in the currency of the Applicable Account), any balances in those Applicable Savings Accounts that are above this maximum will earn interest at the Posted Rate payable on the Applicable Savings Account.

9. Once the Eligible Client's first Applicable Savings Account has qualified for the Promotional Rate, subsequent Applicable Savings Accounts opened by the Eligible Client during the Promotion Period, up to a combined maximum of $1,000,000 (in the currency of the Applicable Account) per Applicable Savings Account Type, will also earn Promotional Interest for the duration of the Promotion Period.

Example 1: If a Client opens their first RSP Applicable Savings Account and their Tangerine Chequing Account on September 2, 2022 and a subsequent RSP Applicable Savings Account 10 days after opening the first Account, the Promotional Interest will be paid on both Applicable Savings Accounts only until February 2, 2023 (i.e., 153 days from the opening of the first RSP Applicable Savings Account and Chequing Account) on balances of up to $1,000,000 (in the currency of the Applicable Account) combined in both RSP Applicable Savings Accounts.

Example 2: If a Client opens their first RSP Applicable Savings Account on September 2, 2022 and their Tangerine Chequing Account on September 12, 2022, the Promotional Interest will be paid on the RSP Applicable Savings Account only until February 12, 2023 (i.e., 153 days from the opening of the Chequing Account) on balances of up to $1,000,000 (in the currency of the Applicable Account) combined.

10. In the case of Applicable Savings Accounts where deposits are made by transferring registered funds through a T2033 form, those deposits will earn interest at the Posted Rate payable on the Applicable Savings Account from the time the transfer request is submitted to Tangerine and while the funds are in transit. Upon receipt of the transferred funds by Tangerine, the Promotional Rate will begin to apply to those funds only for the remainder of the Promotion Period, and provided that the Promotion Period hasn’t already ended when the funds are received.

11. All deposits to TFSA Accounts and RSP Savings Accounts are subject to the limits imposed by the Canada Revenue Agency (CRA). The RSP contribution limit is as noted on the Eligible Client's Notice of Assessment issued by the CRA. The Eligible Client is fully responsible for monitoring their individual contribution limits and ensuring any and all deposits fall within these set CRA limits. The Eligible Client further agrees to at all times indemnify and hold the Bank harmless in respect of any such penalties or charges imposed upon the Eligible Client as a result of these imposed limits.

12. Subject to the imposed CRA limits on TFSA and RSP Accounts, Additional Interest will be paid on the first $1,000,000 (in the currency of the Applicable Account) of deposits made to each of the Applicable Savings Account Types during the Promotion Period. No deposits or eligible daily balances to which Promotional Interest would otherwise qualify will be greater than $1,000,000 across each of the Applicable Savings Account Types (i.e., $1,000,000 CAD across all Savings, $1,000,000 CAD, across all TFSA Savings, $1,000,000 CAD, across all RSP Savings, $1,000,000 CAD, across all RIF Savings and $1,000,000 USD, across all US$ Savings). Any balances greater than $1,000,000 will earn interest at the applicable Posted Rate.

13. This Promotional Rate can’t be combined with other promotional savings rate offers. Where an Eligible Client qualifies for more than one promotional savings rate offer from the Bank, the Promotional Rate will be applied to the Eligible Client’s Applicable Savings Account(s) first, to the exclusion of any other promotional savings rate offer.

14. By accepting this Promotional Rate offer, you consent to receive electronic messages that notify you when the Promotion Period is expiring and inform you about the interest rate that will take effect after the Promotion Period expires.

Terms Specific to the Visa Debit 20% Cashback Offer (the “Cash Bonus”):

15. Eligible Clients will earn a Cash Bonus of 20% on Eligible Transactions (defined below) using the Visa Debit feature of their Client Card for 60 days, to a maximum of $400 per Account. The 60-day period for Eligible Transactions (“Eligible Transaction Period”) begins on the date the Client Card is activated. The Cash Bonus will apply to the sum of all Eligible Transactions less any refunds, returns or other similar credits made during the Eligible Transaction Period.

16. The Cash Bonus only applies to eligible online purchases and online bill payments made on a merchant’s website, successfully completed with a Client Card with Visa Debit (“Eligible Transactions”). Examples include using your Card information to shop at online stores, to make a recurring bill payment on a merchant’s website (such as internet, phone), and as a mobile app payment method for streaming services, food delivery orders, ride sharing, etc.

    Eligible Transactions do not include:

    1. Account fund transfers made with your Client Card to other non-merchant accounts including loading or topping up of prepaid card accounts and moving funds into another financial account acting as the funding source of person to person payments or to load a third party digital wallet (e.g. Remitly and KoHo);

    2. Bill payments made through the bill payment feature of the Tangerine website or Mobile Banking app or recurring bill payments set up on your Account; and

    3. All other Client Card or Account transactions, including but not limited to in-store debit purchases, payments made using your mobile wallet (Apple Pay, Samsung Pay, Google Pay), electronic funds transfers, email money transfers, interest charges, fees and cash withdrawals.

17. Eligible Clients must activate their Client Card within 60 days of the date their Chequing Account was opened. Once you receive your Client Card, you can activate it by logging in at tangerine.ca and going to 'Profile & Settings'. Once there, scroll down to the Client Card section, and click 'Activate'.

18. In the case of an eligible Client with two Chequing Accounts, only Eligible Transactions completed using the Account designated as “Chequing” on their Client Card qualify.

19. In the case of an eligible Client with a joint Account, if both joint Account holders have the joint Account designated as “Chequing” on their Client Cards, then the Cash Bonus will be calculated based on the combined total Eligible Transactions completed using the joint Account by each Account holder, up to a maximum of $400 for the joint Account. Both joint Account holders must meet all Offer conditions for Eligible Transactions to be counted toward the Cash Bonus, including activation of the Client Card within 60 days of the Account being opened. For a joint Account, the Eligible Transaction Period starts on the date the Primary Account holder’s Client Card is activated.

20. In the event that a Client receives a replacement Client Card due to loss, theft or damage to their first Client Card, Eligible Transactions must all be made within 60 days of activating their first Client Card. Receipt of a replacement Client Card will not extend this period, but all Eligible Transactions made on the replacement Client Card will count towards the Cash Bonus calculation.

21. The Cash Bonus will be paid to the Eligible Client’s Tangerine Chequing Account within 30 days of the end of the Eligible Transaction Period provided the Account is open and not in Default (as defined in the Tangerine Overdraft Protection section of the Chequing Account Terms) at the time of the Cash Bonus payout.

22. The Cash Bonus can’t be combined with other Chequing cash bonus offers and is limited to one (1) Cash Bonus per Account, up to a maximum of $400. Where an Eligible Client qualifies for more than one cash bonus offer from the Bank, this Cash Bonus offer will be applied to the Eligible Client’s Tangerine Chequing Account first, to the exclusion of any other cash bonus offer.

Limitations:

23. This Offer is non-transferrable, non-saleable, and may not be exchanged for cash.

24. The Bank reserves the right at its absolute discretion to vary, delete or add to any of these Terms and Conditions from time to time without prior notice. In the event of conflict, these Terms and Conditions will prevail over any of the contents of any brochure, promotional materials or statements, or any other communication regarding this Offer, whether written or oral from the Bank, except where otherwise stated.

25. The Bank reserves the right at its sole discretion, without advance notice, to extend, suspend, terminate, or otherwise modify the Offer, in whole or in part or for select Clients, for any reason or if the Offer can't run as planned including infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes beyond the reasonable control of the Bank which corrupt or affect the administration, security or proper conduct of this Offer.

26. The Bank reserves the right, at its sole discretion, to suspend, disqualify, limit or revoke this Offer for any Account holder it finds or believes to be manipulating or otherwise abusing the process, fairness, or integrity of the Offer or who otherwise is deemed ineligible.

27. By accepting this Offer, you agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice with respect to this Offer is deemed to be provided on the day it is posted on our website.