This means that similar to any other big bank, your deposits are insured up to $100,000. Tangerine is a member of the Canada Deposit Insurance Corporation (CDIC). You can reach them 24/7 at 1-88 (English) or 1-84 (French). My experience so far with the Tangerine customer service folks has been great. You can refer up to three friends every year. When they sign up using your key and deposit a minimum amount, you both get a $50 cash bonus. Earn Cash Bonuses – Refer A FriendĪfter you open your Tangerine account, you will receive a personalized Orange key that you can give to friends and family. You can stay at home and conduct your banking transactions including free email money transfers (avoid Interac fees), deposit cheques by simply snapping a photo of the cheque with your phone, user-friendly website, and mobile app. When signing up online, you will need to have the following available:Īpart from saving on fees and competitive interest rates on savings and chequing, here are a few other reasons why you may choose to bank with Tangerine: Convenience To fully activate your account, you may need to confirm your identity by visiting a Canada Post outlet with your IDs. Opening a Tangerine account is pretty easy and takes a few minutes (literally) for the initial setup. The 5-year variable mortgage rate is 2.70% (2.71% APR). Tangerine’s fixed mortgage rates as of April 20, 2022, are: In addition to offering fixed and variable mortgage loans, Tangerine also offers RRSP loans and Home Equity Lines of Credit (HELOC). You can also learn about how to invest in this guide to investment accounts in Canada. These funds have a 1.07% annual fee and you can read my detailed review for more information. There are several Tangerine investment funds and GICs that cater to various investing needs, including Tax-Free Investment Funds, RSP Investment Funds, RIF Investment Funds, and Guaranteed Investment Certificates. You can learn about the best savings rates in Canada. New clients earn a 2.00% promotional rate for the first 5 months and 0.10% after. Savings accounts offered by Tangerine include: Currently, these accounts offer a standard 0.10% interest rate. Tangerine Bank offers a variety of savings accounts you can use to grow your money. Electronic cheque depositing via the mobile app.Free use of Scotiabank’s 3,500 ATMs in Canada, and 50,000 ATMs worldwide.Free and unlimited email money transfers.Free and unlimited pre-authorized payments.Interest earnings on your chequing account balance, up to 0.10%.With Tangerine, you have access to a chequing account that offers: Tangerine No-Fee Chequing Accountįree chequing accounts are nearing extinction in Canada’s big banks. Read my complete Tangerine World Mastercard review.īoth credit cards are currently offering a 10% cash back bonus worth up to $100 in the first 2 months. The Tangerine World Mastercard ® has no annual fees, however, you will need a personal income of $60,000 or more to qualify. In addition to earning cash back, you also get mobile device insurance, free Global Wi-Fi, rental car insurance, and Mastercard Airport Experiences Provided by Loungekey. Tangerine offers a second credit card, the Tangerine World Mastercard ®, which also pays 2% cash back on three categories of spending. The personal income requirement to be eligible for the card is $12,000 per year. New clients can also qualify for a Balance Transfer promotion of 1.95% for 6 months. This credit card comes with no annual fees and pays 2% cash-back on up to three categories of spending, including Groceries, Gas, Entertainment, Home Improvement, Recurring Bill Payments, and more. In general, Tangerine offers services that would meet the banking needs of the average Canadian. The definitive answer to that depends on what kind of banking services you are looking for. One question that often comes to mind when people hear “online bank” is: “Do they have all the accounts I need in one place?” Tangerine Bank Accounts and Financial Products Tangerine customers enjoy many advantages, including free access to over 3,500 Scotiabank ATMs in Canada (and 50,000 ATMs worldwide), a versatile mobile app, and a call centre that is available 24 hours a day, 7 days a week. Unlike its parent bank, Tangerine is an online-only bank and apart from a few cafes, pop-up locations, and kiosks in major cities across Canada, most of your interactions will be via an online interface. Tangerine (formerly known as ING Direct) is a subsidiary of Scotiabank. Tangerine Bank Accounts and Financial Products.
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