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Tangerine Bank Canada Review

Tangerine Bank is one of the leading Canadian premier online banks. Founded in 1997 as a direct banking service under the name ING Direct (or ING Bank of Canada), the service offered was savings accounts with over-the-phone transactions.

In November 2012, Scotiabank purchased the fifteen-year-old banking service from ING Group NV. At the time, ING Direct serviced nearly two million Canadians. As part of the acquisition, ING Direct was required to undergo a facelift – namely, the service was forced to change its name within an eighteen-month deadline.

Nearly a year later, the company revealed that the service would be moving forward under the title Tangerine. The name, according to former Tangerine CEO Peter Aceto, pays homage to ING Direct’s “orange” history and helps potential customers know that the service stands out from the rest.

A subsidiary of Scotiabank, Tangerine bank offers free access to nearly 45,000 ABMs worldwide. And with free deposits and withdrawals available on all ABMs transactions, Tangerine bank rises above competitors.

Tangerine Bank Overview

Tangerine was established in opposition to major Canadian banks, all of which offered the same few services for exorbitant prices. With a lean, technological approach, ING Direct looked to revolutionize Canadian banking with low costs and high-interest rates.

Furthermore, the bank has established several cafes, pop-up locations, and kiosks in lieu of traditional banking branches. For these reasons, Tangerine Bank should be at the top of the list for anyone searching for a secure and convenient bank.

With flexible banking options, Tangerine has one of the most user-friendly setups of any bank in Canada.

A couple of reasons why you might be interested in banking with Tangerine: 

  • Very easy to link external accounts: To link an account at Simplii Financial, or at any other bank I’ve used, you have to send in a void cheque for the account you want to link. At Tangerine, you put in your account details and Tangerine makes a few deposits. You verify the amounts of those deposits, and the accounts are linked. Easy Peasy!

  • Instant money transfers between savings and chequing accounts. At Simplii Financial, it takes a day to transfer funds from your savings account to your chequing account. Not a huge deal, but it bugs me.

  • Tangerine Bank always has a better interest rate promo. Simplii has had some good ones, including the current 3% rate, but Tangerine’s are more consistent in my experience. Combined with Tangerine’s ease of transferring to and from external accounts, I can easily keep my emergency fund in an EQ Bank savings account and move it around when I find a better rate.

Tangerine Bank

What Makes Tangerine Bank Unique?

Tangerine offers surprise-free banking.

With a name like Tangerine, it’s hard not to stand out from the competition. 

As a direct online banking service, Tangerine is able to cut down on the costs of banking, ultimately saving you more money. This manifests in Tangerine’s amazingly high interest rates that allow you to collect money like nowhere else. It’s also present in all the free services that Tangerine bank offers its customers.

From free ABM transactions, free daily chequing and savings, and access to a 2% cash back rewards card with a $0 annual fee, Tangerine stands above the rest when it comes to affordable banking. 

With cafes, pop-up locations, and kiosks standing in a place of traditional branches, Tangerine offers a different way to the bank. This cost-saving ingenuity has been a part of the company’s vision since day one when ING Direct began as a telephone banking service.

Tangerine Bank’s Online Banking Services

Tangerine’s online banking offers full-scale banking services. From traditional chequing and savings accounts to credit cards and GICs, Tangerine Bank gives customers great flexibility over their finances.

How do these services compare to those offered by other popular banks? Is Tangerine competitive with other banks on the market?

To answer these questions, a brief overview of the products offered by Tangerine is in order. Let’s look at the online banking services offered by Tangerine and a brief summary here: 

1. Tangerine Chequing Account

  • No Daily Transaction Fees

  • Overdraft Protection Available

  • Free Access to 3,500 ABMs (44,000 worldwide)

2. Tangerine Savings Account

  • Savings, Tax-Free Savings, RSP Savings, RIF Savings (1.25%)

  • US Dollar Savings (0.80%)

3. Tangerine Investment Funds

  • Non-Registered Investment Fund

  • RSP Investment Fund

  • Tax-Free Investment Fund

  • RIF Investment Fund

4. Tangerine Mortgages

  • Receive Your Own Personal Account Manager

  • Great Rates

  • Prepayment Options Available

5. Tangerine Home Equity Line of Credit

  • Low-Interest Rates

  • Easy Repayment Plans

6. Tangerine RRSP Loans

  • Easy Application and Approval Process

  • No Fees

  • Incredible Rates

  • Flexible Repayments

7. Tangerine Credit Cards

8. Tangerine GICs 

  • Guaranteed Investment (Up to 3.15%), RSP Guaranteed Investment (Up to 3.25%), Tax-Free

  • Guaranteed Investment (Up to 3.25%), US$ Guaranteed Investment (Up to 3.20%)

  • RIF Guaranteed Investment (Up to 3.25%)

9. Tangerine Business Accounts 

  • Business Savings Account (Up to 1.50%)

  • Business US$ Savings Account (0.80%)

  • Business Guaranteed Investment (Up to 2.85%)

  • Business US$ Investment (Up to 3.00%)

Tangerine’s wide variety of banking services are competitive in the market. Let’s break down a few key categories to see how Tangerine stacks up against some key competitors.

tangerine bank

Tangerine Bank’s Chequing and Savings Account

Tangerine Bank offers a number of unique savings features.

If you’re looking for a new bank, chances are you’re in need of a new chequing or savings account.

With this in mind, let’s take a more in-depth look at Tangerine’s chequing and savings account options. Keep the above information in mind as you look over the following details.

First, let’s examine some more of the critical information you need to know before opening a chequing account.

For starters, keep in mind that Tangerine customers are treated to daily interest rates on money in their chequing accounts. These rates are currently:

  • $0.00 – $49,999.99 – 0.15%

  • $50,000.00 – $99,999.99 – 0.55%

  • $100,000+ – 0.65%

These generous interest rates help customers get more out of their chequing accounts.

Tangerine Bank Savings Account 

Tangerine’s savings account rates of 1.25% are fair favorably against competitors. BMO, for instance, may look better on the service, as they offer up to 1.600% savings interest rates.

However, a closer look reveals that customers must meet minimum balance requirements to qualify for this “bonus interest.” Actual rates for many customers often prove lower.

RBC Bank’s interest rate savings are even lower—maxing out at 0.35%, with most options only offering 0.30% interest rates.

CIBC Bank offers the closest competition with straightforward savings interest rates up to 1.20%–but even then, Tangerine comes out the winner.

Perhaps best of all, however, is the fact that Tangerine bank makes opening a savings account easier than ever before. Their streamlined online application is simple and offers fast results.

Consider Tangerine Bank to get the most out of your savings.

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Tangerine Bank Chequing Account

Another strong feature of Tangerine Bank’s chequing account options is that they offer very few fees. For example, online daily banking, Tangerine Email Money Transfers, ABM deposits and withdrawals (Tangerine or Scotiabank ABMs only), and the first checkbook all come free.

Additionally, the fees they do have are quite low—for instance, it’s only $1 to use non-Scotiabank/Tangerine ABMs in Canada.

Other fees include overdraft fees ($40), Canadian drafts ($10), additional checkbooks ($20), and replacement cards ($15 starting with the second one).

What’s more, Tangerine offers several saving options for their customers. We’ll take a closer look at their GIC and housing interest rates below, but for now, we’ll keep it simple.

Tangerine’s standard savings account option boasts a variety of home-run features, including an interest rate of 1.25%, $0 fees, and a $0 minimum balance requirement.

Tangerine Bank vs. Other Canadian Banks 

Tangerine offers convenient chequing account options.

What makes Tangerine’s chequing account options stand out is that they don’t charge a fee for daily transactions.

This keeps tangerine’s chequing account affordable for customers no matter their budgets.

Even better, when opening a chequing account with Tangerine bank, customers are eligible for up to 0.65% interest rates. This interest is paid on a monthly basis based on daily calculations for every dollar in your account.

What’s more, customers with Tangerine bank get free access to up to 3,500 ABMS (in Canada) – making withdrawing your hard-earned money convenient.

These features really stand out when compared to other popular banks. RBC bank, for instance, offers a much greater number of ABMs—but it comes with a catch.

Users can only get up to 10 free debits a month—and then are charged $1.00 for each afterwards.

CIBC charges a monthly fee based on the number of ABM transactions made. The first twelve transactions cost $4.95, while additional transactions are $1.25 each.

Customers are capped at twenty transactions without paying $14.95 a month for unlimited transactions.

Tangerine remains competitive in all other services offered as well. From better-than-average GIC rates to flexible mortgage plans, Tangerine provides industry-leading quality.

It’s perhaps for this reason that Tangerine has become Canada’s premier online banking platform. With products and services that remain competitive with other online and more traditional banks, Tangerine is a name you can trust.

I currently have bank accounts with TD, HSBC, RBC, and Tangerine.

Tangerine helps me transfer amounts between banks without having to use cheques or e-transfer. I link all my bank accounts to Tangerine and use Tangerine to push/pull the funds to another bank. Technically I could use e-transfer. But e-transfer may cost money per transaction depending on the bank.

Their credit card can be set up with apple pay and has 3 categories to choose from for 2% cashback. However, there have been cases where people have been rejected from their credit cards even with good credit scores.

For basic banking tangerine is fine. I would keep RBC in addition to Tangerine. Tangerine phone banking services are not the best.

There is very minimal help especially when there are barely any branches that you can visit to help you with your banking needs. Please refer to this thread for reference.

Tangerine

Tangerine Bank Credit Cards 

In the realm of financial flexibility, Tangerine Bank steps forward with a suite of credit cards designed to align with your spending habits and reward you for your everyday purchases. Let’s delve into the key features of Tangerine Bank credit cards, each crafted to cater to different aspects of your lifestyle.

1. Tangerine World Mastercard: Elevate Your Lifestyle

  • Cash Back Rewards: Enjoy cash back rewards on your everyday purchases, with bonus categories allowing you to earn even more.
  • Global Acceptance: Benefit from worldwide acceptance with the Tangerine World Mastercard, making it an ideal companion for your international adventures.
  • Travel Insurance: Access travel insurance coverage, providing peace of mind as you explore the globe.

2. Tangerine Money-Back Credit Card: Simplify Your Spending

  • 2% Cash Back Categories: Choose two of your favorite spending categories and earn 2% cash back on purchases in those areas.
  • 1% Cash Back on Everything Else: Earn 1% cash back on all other purchases, ensuring rewards on every aspect of your spending.
  • No Annual Fee: Enjoy the benefits of cash back rewards without the burden of an annual fee.

3. Tangerine World Mastercard – Travel Perks Edition: Unleash Travel Rewards

  • Travel Rewards: Earn travel rewards and enjoy perks such as travel assistance services and rental car collision insurance.
  • Flexible Redemption: Redeem your accumulated rewards for flights, hotels, or other travel expenses, providing flexibility in your travel plans.
  • No Annual Fee: Access travel benefits without the additional cost of an annual fee.

4. Tangerine Money-Back Plus Credit Card: Maximize Your Earnings

  • Enhanced Cash Back: Elevate your cash back earnings by choosing three spending categories and earn 2% cash back in each, plus 1% on everything else.
  • Annual Fee: While there is an annual fee, the enhanced cash back rewards can outweigh this cost for frequent spenders in the selected categories.
  • Comprehensive Insurance: Benefit from various insurance coverages, including purchase assurance and extended warranty.

5. Tangerine Student Credit Card: Building Financial Foundations

  • Student-Friendly Features: Tailored for students, this card offers cash back rewards with no annual fee, providing financial benefits without added expenses.
  • Build Credit History: Start building your credit history responsibly with a credit card designed to meet the unique needs of students.
  • Easy Management: Access your account easily through the Tangerine mobile app, simplifying your financial management.

6. Tangerine Money-Back Card for Costco Members: Exclusive Perks

  • Enhanced Cash Back at Costco: Enjoy increased cash back percentages on purchases made at Costco locations, maximizing your savings.
  • No Annual Fee for Costco Members: Benefit from the exclusive partnership between Tangerine and Costco, providing a no-fee credit card option.
  • Flexible Redemption: Redeem your cash back rewards how you want – as a credit on your account or a deposit into your savings account.

In Summary: Tangerine Bank’s array of credit cards caters to diverse financial needs, offering cash back rewards, travel perks, and exclusive benefits for Costco members. Whether you’re a frequent traveler, a savvy spender, or a student looking to establish credit, Tangerine Bank has a credit card tailored to your lifestyle. Explore the possibilities of financial freedom with Tangerine Bank’s credit card lineup and discover the rewards that align with your unique preferences and goals.

Tangerine Bank Guaranteed Investment Interest Rates

  • 90 Day Guaranteed Investment  0.50%

  • 180 Day Guaranteed Investment  2.40%

  • 270 Day Guaranteed Investment  2.50%

  • 1 Year Guaranteed Investment  2.60%

  • 1.5 Year Guaranteed Investment  2.80%

  • 2 Year Guaranteed Investment  2.80%

  • 3 Year Guaranteed Investment  2.85%

  • 4 Year Guaranteed Investment  2.90%   

  • 5 Year Guaranteed Investment  2.95%

Tangerine Bank Tax-Free Guaranteed Investment Interest Rates

  • 90 Day      Guaranteed Investment  0.50%

  • 180 Day    Guaranteed Investment  2.60%

  • 270 Day    Guaranteed Investment  2.70%

  • 1 Year       Guaranteed Investment  3.00%

  • 1.5 Year    Guaranteed Investment  3.05%

  • 2 Year       Guaranteed Investment  3.10%

  • 3 Year       Guaranteed Investment  3.15%

  • 4 Year       Guaranteed Investment  3.20%   

  • 5 Year       Guaranteed Investment  3.25%

With Tangerine’s Tax-Free Guaranteed Investment rates as high as 3.15% and with fees of $0, Tangerine’s GIC options are among the best in online banking.

Tangerine Bank’s GIC interest rates are calculated based on fixed investment times and range from 0.50% for 90 days to 3.15% for five years.

These powerful GIC options help customers set aside funds at guaranteed interest rates for a predetermined time of their choosing. And because these GICs are CDIC-insured, customers can be sure their funds are secure.

Tangerine also offers competitive mortgage interest rate options. These rates vary from 3.55% to 3.99% depending on the length of the fixed mortgage. With secured rate options available, customers never have to worry about losing their hard-earned money.

Pros Of Tangerine Bank 

No-Fee Banking:

Enjoy the freedom from monthly fees. Tangerine’s commitment to no-fee banking means more of your money stays in your pocket.

Competitive Interest Rates:

Elevate your savings game with Tangerine’s high-interest savings accounts. Benefit from competitive interest rates that help your money grow over time.

Innovative Digital Platform:

Embrace the convenience of modern banking. Tangerine’s user-friendly digital platform allows you to manage your finances anytime, anywhere, putting you in control.

Flexible Account Options:

Tailor your banking experience. Tangerine offers a range of accounts, from savings and checking to investment options, allowing you to build a financial strategy that suits your needs.

Transparent Fee Structure:

Say goodbye to hidden fees. Tangerine’s transparent fee structure ensures you’re aware of any charges, helping you maintain a clear understanding of your financial transactions.

Customer-Focused Approach:

Experience banking with a personal touch. Tangerine prioritizes customer satisfaction, providing responsive customer service and resources to empower you in your financial journey.

Cash Back Credit Cards:

Maximize your spending. Tangerine’s cash-back credit cards offer flexibility in choosing categories where you earn the most rewards, putting money back in your wallet with every purchase.

Refer-a-Friend Rewards:

Share the benefits with friends. Tangerine’s Refer-a-Friend program lets you and your friends enjoy rewards when they join, creating a community of satisfied customers.

ATM Access:

Access your money with ease. Tangerine provides access to a network of ATMs, allowing you to withdraw cash without incurring additional fees.

Investment Opportunities:

Grow your wealth strategically. Tangerine offers simplified investment options, making it accessible for both novice and experienced investors.

Mobile Banking App:

Manage your finances on the go. Tangerine’s mobile banking app offers a seamless and intuitive experience, putting banking at your fingertips.

In summary, Tangerine Bank distinguishes itself with a range of benefits that cater to the needs of modern consumers. From fee transparency to innovative digital services, Tangerine strives to make banking a positive and empowering experience for its customers.

Cons Of Tangerine Bank 

Limited Physical Presence:

Tangerine operates predominantly online, which means limited access to in-person services. If you prefer face-to-face interactions, the lack of physical branches may be a drawback.

No In-House ATMs:

While Tangerine provides access to a network of ATMs, it doesn’t have its own ATMs. This might result in occasional ATM fees when using machines outside the designated network.

Limited Product Offering:

Compared to traditional banks, Tangerine has a more focused product lineup. If you’re seeking a one-stop-shop for various financial products, you might find the selection limited.

No Joint Accounts for Savings:

Tangerine doesn’t offer joint savings accounts, which may be a drawback for those looking for shared savings goals with a partner or family member.

Fewer Advanced Investment Options:

While Tangerine provides straightforward investment options, advanced investors seeking a broader range of choices or complex investment strategies might find it limiting.

Customer Service Limitations:

While Tangerine offers customer service through various channels, some users may find the absence of in-person assistance a drawback, especially for complex inquiries.

Credit Card Options:

While Tangerine does offer cash back credit cards, the variety may not match that of some traditional banks. Those looking for specific card features might find alternatives more suitable.

Interest Rate Fluctuations:

Tangerine’s interest rates, like most financial institutions, can fluctuate. This could impact the return on savings, and customers might need to stay informed about rate changes.

Online-Only Transactions:

Tangerine’s model relies on online and mobile transactions. If you prefer handling certain transactions in person, this online-only approach might pose a challenge.

Potential for Limited Cash Transactions:

Without physical branches, cash transactions, such as depositing large sums of cash, can be more challenging. Users heavily reliant on cash transactions may find this limitation inconvenient.

Understanding these cons allows prospective users to make an informed decision based on their individual banking preferences and needs. While Tangerine offers many advantages, it’s essential to consider these aspects in the context of your personal financial habits and requirements.

Tangerine Bank Vs. PC Financial 

In the vast landscape of online banking options, Tangerine Bank and PC Financial (now known as Simplii Financial) stand out as contenders, each with its own set of strengths and nuances. Let’s embark on a comparative journey to help you choose the financial ally that aligns with your needs.

1. Digital Experience:

  • Tangerine: Renowned for its intuitive and user-friendly digital platform, Tangerine excels in providing a seamless online banking experience. Its mobile app and website offer a range of features designed for easy navigation.
  • PC Financial: Similarly, PC Financial embraces a digital-first approach. While it may lack some of Tangerine’s advanced features, it provides a straightforward online banking experience.

2. Account Offerings:

  • Tangerine: Tangerine offers a variety of accounts, including savings, checking, and investment options. Its flexible account lineup caters to diverse financial needs.
  • PC Financial: Focused on simplicity, PC Financial provides savings and checking accounts, aiming to streamline basic banking without overwhelming users with excessive options.

3. Fees and No-Fee Banking:

  • Tangerine: Known for its commitment to no-fee banking, Tangerine eliminates many traditional banking fees. This approach aligns with its goal to empower customers with transparent and cost-effective financial solutions.
  • PC Financial: PC Financial also emphasizes no-fee banking, aligning with the principle of providing accessible financial services without additional charges.

4. Physical Presence:

  • Tangerine: Operating primarily online, Tangerine doesn’t have physical branches. It relies on digital channels for customer interactions.
  • PC Financial: Similar to Tangerine, PC Financial lacks physical branches, making its services accessible primarily through digital platforms.

5. Customer Support:

  • Tangerine: Tangerine offers customer support through various channels, including phone, email, and online chat. Its commitment to customer service reflects in its responsive assistance.
  • PC Financial: PC Financial provides customer support through similar channels, ensuring users have access to assistance when needed.

6. Investment Opportunities:

  • Tangerine: Tangerine extends its services to investments, offering simplified options for users looking to grow their wealth through mutual funds.
  • PC Financial: While PC Financial doesn’t offer investment services directly, it provides basic banking products without the complexities of investment options.

7. Cash Back Credit Cards:

  • Tangerine: Tangerine stands out with its cash back credit cards, allowing users to earn rewards on everyday purchases based on chosen spending categories.
  • PC Financial: PC Financial offers credit cards with a focus on earning points for groceries and other purchases, providing an avenue for cash back.

8. Ownership and Branding:

  • Tangerine: Tangerine is a subsidiary of Scotiabank, bringing the backing of a major financial institution while maintaining its distinct brand and approach.
  • PC Financial: Originally a collaboration between Loblaw Companies and CIBC, PC Financial is now part of Simplii Financial, continuing its banking services independently.

In essence, the choice between Tangerine Bank and PC Financial hinges on your specific financial preferences. If you value a comprehensive online banking experience with a broader range of products, Tangerine might be your go-to. On the other hand, if simplicity and basic banking are your priorities, PC Financial could be the ideal companion on your financial journey. Both institutions, each with its unique strengths, contribute to the dynamic landscape of modern banking options.

Tangerine Bank Vs. EQ Bank Vs. Neo Financial Vs. Alterna Bank

In the dynamic world of digital banking, Tangerine, EQ Bank, Neo Financial, and Alterna Bank emerge as prominent players, each carving its niche in modern finance. Let’s embark on a comprehensive exploration of these contenders to assist you in making an informed choice tailored to your financial aspirations.

1. Digital Experience:

  • Tangerine: Renowned for its user-friendly interface, Tangerine excels in delivering a seamless digital banking experience. Its website and mobile app provide a range of features designed for intuitive navigation.
  • EQ Bank: Embracing simplicity, EQ Bank offers a clean and straightforward digital platform. It focuses on providing easy access to essential banking services.
  • Neo Financial: Positioned as a modern banking alternative, Neo Financial presents a user-friendly app that simplifies financial management.
  • Alterna Bank: Alterna Bank provides a user-friendly online platform, ensuring a smooth digital banking experience for its customers.

2. Account Offerings:

  • Tangerine: Tangerine’s comprehensive suite includes savings, checking, and investment options, offering flexibility to cater to diverse financial needs.
  • EQ Bank: Renowned for its high-interest savings account, EQ Bank emphasizes simplicity and competitive interest rates.
  • Neo Financial: Focused on its Neo Savings account, Neo Financial combines high-interest rates with a straightforward savings experience.
  • Alterna Bank: Alterna Bank offers various accounts, including savings and chequing options, providing a range of choices for users.

3. Fees and No-Fee Banking:

  • Tangerine: A pioneer in the no-fee banking landscape, Tangerine eliminates many traditional fees, ensuring transparent and cost-effective financial solutions.
  • EQ Bank: Following the no-fee trend, EQ Bank provides straightforward banking services without unnecessary charges.
  • Neo Financial: Neo Financial aligns with fee transparency, emphasizing a fee-free savings account.
  • Alterna Bank: Alterna Bank offers fee-free banking options, reducing the financial burden on users.

4. Physical Presence:

  • Tangerine: Operating exclusively online, Tangerine lacks physical branches, relying on digital channels for customer interactions.
  • EQ Bank: Similar to Tangerine, EQ Bank operates without physical branches, focusing on providing online banking services.
  • Neo Financial: Neo Financial follows a digital-first approach with no physical branches.
  • Alterna Bank: While primarily digital, Alterna Bank boasts a limited physical presence with select branches for those who prefer in-person interactions.

5. Customer Support:

  • Tangerine: Tangerine ensures customer support accessibility through various channels, including phone, email, and online chat.
  • EQ Bank: EQ Bank provides customer support to address user inquiries and concerns through multiple communication channels.
  • Neo Financial: Neo Financial offers customer support for user assistance, emphasizing responsiveness.
  • Alterna Bank: Alterna Bank provides customer support through various channels to cater to user inquiries.

6. Investment Opportunities:

  • Tangerine: Tangerine extends its services to investments, offering simplified options for users looking to grow their wealth through mutual funds.
  • EQ Bank: While EQ Bank primarily focuses on banking, it does not provide direct investment options.
  • Neo Financial: Neo Financial is primarily geared towards savings and spending, without direct investment offerings.
  • Alterna Bank: Alterna Bank offers investment options, providing users with avenues to explore wealth-building opportunities.

7. Cash Back Credit Cards:

  • Tangerine: Tangerine stands out with its cash back credit cards, allowing users to earn rewards on everyday purchases based on chosen spending categories.
  • EQ Bank: EQ Bank does not currently offer credit card services.
  • Neo Financial: Neo Financial is in the early stages of developing credit card offerings, with potential benefits for users.
  • Alterna Bank: Alterna Bank offers credit card options, enhancing its product lineup for users seeking additional financial tools.

8. Interest Rates:

  • Tangerine: Tangerine offers competitive interest rates on savings accounts, providing users with an avenue to grow their money.
  • EQ Bank: EQ Bank is recognized for its high-interest savings account, offering attractive rates for savers.
  • Neo Financial: Neo Financial aims to provide competitive interest rates on its savings account, contributing to the potential growth of users’ funds.
  • Alterna Bank: Alterna Bank offers competitive interest rates on savings accounts, aligning with the goal of optimizing user savings.

In Summary: Choosing between Tangerine, EQ Bank, Neo Financial, and Alterna Bank depends on your unique banking needs and preferences. Tangerine excels in a broad range of offerings, EQ Bank focuses on high-interest savings, Neo Financial provides a modern banking experience, and Alterna Bank offers a mix of digital convenience with a limited physical presence. Assess your financial priorities and objectives to determine which digital banking companion aligns most closely with your individual journey. Each of these institutions contributes to the diverse landscape of modern banking, catering to a spectrum of user requirements.

Current Offers At The Tangerine Bank

Curious about the latest opportunities to boost your financial game? Look no further – Tangerine Bank has some enticing current offers designed to elevate your banking experience. Here’s a snapshot of what’s in store:

High-Interest Savings Account Bonus:

New to Tangerine? Score a sweet bonus when you open a High-Interest Savings Account. Watch your savings grow with competitive interest rates and a little extra to kickstart your journey.

Cash Bonuses for New Clients:

Tangerine often rolls out special cash bonuses for new clients. It’s their way of saying, “Welcome to the Tangerine family!” Keep an eye out for these limited-time offers.

Refer-a-Friend Rewards:

Spread the financial love! Tangerine rewards you for referring friends. Get in on the Refer-a-Friend program, and both you and your friend can enjoy some extra cash – a win-win.

Fee-Free Banking:

Say goodbye to unnecessary fees. Tangerine’s commitment to fee transparency means you can enjoy the perks of fee-free banking, letting you keep more of your hard-earned money where it belongs – in your pocket.

Special Promotions on Investment Funds:

Ready to grow your wealth? Tangerine occasionally offers special promotions on their investment funds. Explore these opportunities to potentially enhance your investment portfolio.

Dynamic Credit Card Offers:

Keep an eye on Tangerine’s credit card offerings. They often feature dynamic promotions, whether it’s cash back on purchases or other enticing benefits. Your everyday spending could earn you more than you think.

To seize these opportunities, visit Tangerine Bank’s official website or contact their customer service for the most up-to-date information. Remember, offers can change, so it’s always a good idea to stay informed and make the most of what Tangerine has to offer on your financial journey.

Final Words

In conclusion, diving into the world of Tangerine Bank has been nothing short of a financial adventure. From innovative digital banking solutions to customer-centric approaches, Tangerine stands as a testament to the evolution of banking in the digital age.

Navigating through its user-friendly interface and embracing the simplicity of its services, it’s evident that Tangerine is not just a bank; it’s a financial companion. The no-fee model, coupled with robust savings and investment options, makes it a compelling choice for those seeking a streamlined and cost-effective banking experience.

As we bid adieu to this Tangerine Bank Canada review, it’s clear that Tangerine is more than an institution; it’s a disruptor, reshaping the landscape of traditional banking. Whether you’re a savvy investor or someone stepping into the financial realm for the first time, Tangerine’s commitment to transparency, innovation, and customer empowerment makes it a noteworthy contender in the Canadian banking scene. Cheers to financial freedom, simplified!

12 thoughts on “Tangerine Bank Canada Review”

  1. I am not sure that Tangerine is in my area but I am going to check. I love the idea of better online banking since I am an online business person. I have been looking for a new bank. I want all the benefits of a strong online bank with the added bonus of a physical branch/building in my area if I need it. Thanks for the information!

    Reply
  2. TANGERINE Bank – More like a Lemon

    Do NOT use this dishonest, iNCONVENIENT Bank!!!

    Since this bank ‘bought’ my business with promises of high interest (for a limited time) and promises of up to 4% in cash back on some purchase categories, I’ve had nothing but grief since I keep discovering far too much fine print; ways they can legally deceive customers.
    Besides being the most inconvenient to communicate with, “due to a higher than average call volume” which seems to be anytime I call, even late at night. (Usually an hour + on hold- even if you request a call back, they call you back then place you in the endless loop!)
    Whats even worse is their intentional deception, even if you read “the fine print” in the conditions! You’d need a lawyer at 4-$500 an hour to truly make sense of it.
    One of my “bonus” categories for the 4% cash back was Pharmacy. I use Costco PHARMACY for all my purchases, which are considerable. But guess what? Costco Pharmacy is NOT classified as a Pharmacy?!?!? It’s wholesale, so I get .5%. What kind of SCAM is that? And, you “can change your bonus categories anytime”, that is, really (1st agent) ‘when your next billing cycle starts’ (2nd agent) ‘after 90 days’ – conveniently when the bonus program expires!
    I thought that this so-called Bank being affiiated with ScotiaBank, they would have some credibility, but sadly this is NOT true.
    When my bonus intrest time pries I will be cancelling ALL accounts with them, even though it will cost me, with their “new fees” $100 per certain accounts in the “NO fee online bank”
    Don’t waste your time OR money here. They are a terrible Bank and they really don’t care about their clients, even if you have a substantial amount of monies with them!

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  3. Anyone looking to sign up for Tangerine, you can use one of these codes while applying and you will get a free $50. Have a fab day! x

    60820730S1

    62577995S1

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