Business Savings Sale Full Terms and Conditions

General:

  1. The Tangerine Bank (the “Bank”) Business Savings Account Interest Offer of 2.00% (the “Offer”) is available to existing Business Savings Clients with an unrestricted Account as of September 7, 2017 (“Eligible Clients”) for the period between September 7, 2017 and November 30, 2017 (the “Offer Period”). The Offer is applicable to existing Tangerine Business Savings Accounts and new Tangerine Business Savings Accounts opened by Eligible Clients during the Offer Period (“Applicable Accounts”). The Offer is not applicable to any other Accounts, including (but not limited to) Tangerine US$ Business Savings Accounts, Tangerine Business GIC Accounts and Tangerine US$ Business GIC Accounts or any Tangerine Personal Savings Accounts.

  2. “Additional Interest” is 1.45%. During the Offer Period, the Bank will calculate Additional Interest for new deposits to Applicable Accounts each time the sum of the daily balances in all Applicable Accounts exceeds the sum of the balances as at September 6, 2017 in all Applicable Accounts combined, to a maximum of $1,000,000 deposited in all Applicable Accounts combined, subject to the limitations in Section 7 below (“Eligible Deposits”). Additional Interest will only apply to net new Eligible Deposits that raise the combined Applicable Account balances above the September 6, 2017 balances, and any deposits in an Applicable Account that don’t raise the combined Applicable Account balances above the September 6, 2017 balances will not earn Additional Interest.

  3. All balances in Applicable Account(s) that are not eligible for Additional Interest will be paid the Bank’s applicable posted rate of interest listed on the Bank’s website (the “Posted Rate”).


Additional Interest:

    1. Additional Interest is added to the Posted Rate to calculate the total amount of interest payable under this Offer (Example: Posted Rate of 0.45% + Additional Interest of 1.55% = Offer of 2.00%). Any change to the Posted Rate will result in a corresponding change to the Offer. Additional Interest and/or Posted Rates may change at any time without prior notice. Eligible Clients will receive the Offer in two separate interest payments, one based on the Posted Rate and a second based on the Additional Interest rate.

    2. Subject to the limits and qualifications outlined in these Terms and Conditions, Additional Interest will be calculated daily and paid monthly on Eligible Deposits made during the Offer Period into Applicable Accounts that were opened prior to the Offer Period, as well as Applicable Accounts that were opened during the Offer Period. For the purposes of this Offer, new Eligible Deposits are determined based on the source of the funds, type of transaction, and the amounts relative to combined balances across all Applicable Accounts. Although all Applicable Account balances are used to determine whether a deposit is eligible for Additional Interest, Additional Interest is paid at the individual Account level based on the duration of time the Eligible Deposits are in each Applicable Account.

    3. The following transactions are examples of what will qualify as Eligible Deposits for which Additional Interest will apply:

      1. Money transferred from another financial institution, including the Eligible Client's linked account, to an Applicable Account

      2. Cheques deposited from another financial institution to an Applicable Account


      1. Notwithstanding the above, the following will not qualify as Eligible Deposits and will not earn Additional Interest:

      1. Money transferred from an Applicable Account to another Applicable Account where the transfer does not result in raising the sum of the daily balances in all Applicable Accounts above the sum of the balances as at September 6, 2017

      2. Money transferred from a Tangerine Business GIC Account to any Applicable Account

      3. Money transferred from a Tangerine Business US$ Account to any Applicable Account

      4. Money transferred from a Tangerine Personal Account to any Applicable Account

      5. All Additional Interest and Posted Rate interest paid during Offer Period to an Applicable Account


    1. Additional Interest will not be paid and will not be payable until the start of the month following the month in which it was calculated.The Bank’s applicable Posted Rate of interest will be paid to that Applicable Account on the last day of the month, and any Additional Interest will be paid to that Applicable Account on the first day of the following month. Any Applicable Account closed before Additional Interest is paid will forfeit any Additional Interest calculated during the month in which the Applicable Account is closed.

    2. This Offer cannot be combined with other promotional rate offers.


Limitations:

  1. If the Offer can't run as planned for any reason, 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, the Bank reserves the right at its sole discretion to, without advance notice, terminate or suspend the Offer, in whole or in part, or modify it in any way.

  2. The Bank reserves the right at its absolute discretion to change, delete or add to any of these Terms and Conditions from time to time without prior notice.

  3. The Bank reserves the right to withdraw the Offer in whole or in part, or to change any of these Terms and Conditions at any time and from time to time without notice at its absolute discretion. The Bank reserves the right to end the Offer earlier or to extend the Offer Period further at its absolute discretion.

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

  5. This Offer may be suspended, modified or withdrawn at any time without notice for any reason including an error or mistake on behalf of the Bank.

  6. To the extent that these Terms and Conditions are inconsistent with any other communication, advertisement, promotional material, or statement, whether written or oral, (collectively a "Message") from the Bank, these Terms and Conditions will supersede all other Messages.

  7. You agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice regarding this Offer is deemed to be provided on the day it is posted on the Bank's website.


Last updated on September 20, 2017.