Terms & Conditions

General:

1. The Tangerine Bank (the “Bank”) Business Savings Account Interest Offer of 2.25% (the “Offer”) is available to existing business Clients with an unrestricted Business Savings Account described in Section 3 below, who (1) receive a communication about the Offer directly from the Bank (“Eligible Clients”) (2) “Activate” (as defined in Section 4 below) the Offer by May 31, 2019 and (3) receive a Confirmation in their online Inbox that the Offer has been successfully Activated.

2. The Offer is only available to Eligible Clients between May 2, 2019 and October 31, 2019 (the “Offer Period”).

3. 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.

4. To “Activate” the Offer, the Client needs to perform one of the following actions by May 31, 2019:

   1. If the Client is the holder of an Applicable Account acquired before May 2, 2019,

      1. Click the ‘Activate Now’ button in the Offer email that the Client has received directly from the Bank; or

      2. Click the ‘Activate Now’ button on Tangerine’s website once the Client has logged in; or

      3. Verbally accept the Offer during a conversation with a Tangerine Contact Centre Associate; or

   2. If the Client is not a holder of an Applicable Account acquired before May 2, 2019, open an Applicable Account.

5. “Promotional Interest” is the interest earned on Eligible Deposits made to Applicable Accounts during the Offer Period. “Eligible Deposits” means any new money deposited during the Offer Period that are (1) above the sum of the end-of-day balances in all Applicable Accounts (excluding Promotional Interest), and (2) over the sum of the end-of-day balances in all Applicable Accounts as at May 1, 2019, to a maximum of $1,000,000 subject to the limitations in Section 9 below.

6. All balances in Applicable Account(s) that don’t qualify as Eligible Deposits will be paid the Bank’s applicable posted rate of interest listed on the Bank’s website (the “Posted Rate”).

Promotional Interest:

7. A Promotional Interest rate of 2.25% will apply to Eligible Deposits under this Offer. Eligible Clients will receive Promotional Interest in two separate interest payments – (1) interest calculated at the Bank’s applicable posted rate of interest listed on the Bank’s website (the “Posted Rate”), and (2) an additional interest payment that represents the excess of Promotional Interest over Posted Rate interest (“Additional Interest”). Promotional Interest equals the sum of Posted Rate interest and Additional Interest. Payment of Additional Interest will be made to the Applicable Account at the start of the month following the month in which it was calculated. The Posted Rate may change at any time without prior notice, resulting in a corresponding change to the Additional Interest so that Promotional Interest remains unchanged. Notwithstanding the above, the Bank may change the Promotional Interest rate at any time without prior notice.

8. Subject to the limits and qualifications outlined in these Terms and Conditions, Promotional Interest will be calculated daily and paid monthly. 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 from another financial institution deposited to an Applicable Account.

Exclusions:

9. Notwithstanding the above, the following are examples of the types of transfers between Tangerine Accounts that won’t qualify as Eligible Deposits and will only earn interest at the regular Posted Rate:

   1. Money transferred from an Applicable Account to another Applicable Account.

   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.

10. After the Offer Period ends, all balances will earn interest at the Posted Rate payable on the Applicable Account.

Eligibility:

11. This Offer is non-transferable and is only available to Eligible Clients.

12. This Offer can’t be combined with other promotional rate offers.

Limitations:

13. 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.

14. 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.

15. The Bank reserves the right to suspend, modify, withdraw or extend 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.

16. 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.

17. 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.

18. 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 May 2, 2019