Tangerine began as ING Direct Canada in 1997 and has been owned by Scotiabank since 2012. It offers no-fee unlimited chequing, surcharge-free access to Scotiabank’s ATM network, TFSA, RRSP and RRIF savings accounts, GICs, mortgages and no-fee cash back credit cards, all without a monthly fee. The main gap in its lineup is the RESP, which Tangerine doesn’t offer.
The trade-off is the everyday savings rate: Tangerine’s posted rate is low outside its periodic promotions for new deposits. Other banks are reviewed in the bank and fintech reviews.
At a Glance
| Feature | Details |
|---|---|
| Type | Online bank (Scotiabank subsidiary) |
| Founded | 1997 (as ING Direct Canada) |
| Institution number | 614 |
| Transit number | 00152 (standard, used for all Tangerine accounts since it has no branch network) |
| Monthly chequing fee | $0 (No-Fee Daily Chequing Account) |
| Transactions | Unlimited |
| ATM network | 3,500+ (Scotiabank network, surcharge-free); also part of the Global ATM Alliance (~44,000 ATMs in 40+ countries) |
| Savings rate | 0.30% posted |
| TFSA / RRSP / RRIF | Yes (no RESP) |
| Credit cards | Money-Back Credit Card and Money-Back World Mastercard (no annual fee) |
| CDIC insured | Yes (how CDIC coverage works) |
| Branches | 0 (digital-only; all former Tangerine Cafe locations have permanently closed) |
| Customer service | Tangerine customer service, 1-888-826-4374 |
Chequing Account
Tangerine’s no-fee chequing account has no monthly fee, no minimum balance and no transaction limit, including unlimited Interac e-Transfers. The first box of cheques is free, joint accounts are available, and the Client Card carries Visa Debit, so it works online, in apps and abroad wherever Visa is accepted, with tap-to-pay in Canada.
Withdrawals are free at Scotiabank’s Canadian ATMs and at partner banks abroad through the Global ATM Alliance, which gives regular cash access in most Canadian cities and many other countries. No-fee accounts at other banks are compared in the best no-fee chequing accounts.
Tangerine Fees
| Fee | Amount | Notes |
|---|---|---|
| Monthly account fee | $0 | All account types |
| Minimum balance | None | |
| Interac e-Transfer (send or receive) | $0 | Limits: $3,000 per day; $10,000 per 7 days, $20,000 per 30 days (Tangerine e-Transfer limit) |
| Bill payments | $0 | |
| Cheques | First box free | Later boxes cost extra |
| Scotiabank ATM withdrawal | $0 | |
| Non-Scotiabank ATM withdrawal in Canada | $1.50 plus the ATM operator’s fee | Per withdrawal |
| ATM withdrawal outside Canada, outside the Global ATM Alliance | $3.00 plus the operator’s fee | Per withdrawal |
| Foreign currency conversion | 2.5% | On the converted amount |
| NSF fee | $10.00 (federally capped for personal deposit accounts, effective March 12, 2026) | Waived if you are short by $10 or less; charged at most once every 2 business days |
| Overdraft protection | $5.00 per occurrence, charged on the day the account first goes into overdraft and again on the first day of any following month it remains overdrawn (max once/month) | Plus 19.00% per annum on the daily overdrawn balance |
| Paper statement | $2.00 per statement | e-statements are free |
| Wire transfers | Not offered | Not offered – Tangerine has no SWIFT/BIC code and does not support wire transfers in either direction |
Tangerine NSF fees. An NSF fee applies when Tangerine can’t process a payment for lack of funds, most often a pre-authorized debit (rent, subscriptions, loan payments), a post-dated cheque or a bill payment processed overnight. Because the fee is waived when the shortfall is $10 or less, a small cushion avoids most of them; low-balance alerts in the app and the optional Overdraft Protection are the other ways Tangerine offers to avoid one.
Savings Account
| Account | Posted rate |
|---|---|
| Tangerine Savings Account | 0.30% |
| TFSA savings | 0.30% |
The posted savings rate has applied since February 23, 2026 (checked October 5, 2026). Tangerine regularly runs promotional rates on new deposits for a few months, often higher for TFSA and RSP deposits than for non-registered savings; check Tangerine’s current promotion on its savings rates page. Once a promotion ends, the rate returns to the posted rate, which is why many Tangerine clients keep longer-term savings at a higher-rate online bank such as EQ Bank. Posted rates at every bank are compared in the best savings accounts in Canada.
GICs
Tangerine sells GICs from 90 days to 5 years, in non-registered and registered accounts, and Tangerine’s site posts the current grid. Holding GICs at Tangerine keeps everything in one place; dedicated GIC issuers such as Oaken Financial and credit unions are worth comparing for the same term, and rates across institutions are in the best GIC rates.
Credit Cards
The Tangerine Money-Back Mastercard has no annual fee and earns 2% cash back in 2 categories you choose (3 with rewards paid into a Tangerine Savings Account), 0.5% on everything else. Its income requirement is $12,000 personal.
The Tangerine Money-Back World Mastercard adds rental car damage and theft coverage, mobile device insurance, extended warranty and purchase assurance, also with no annual fee, but with higher income or Tangerine-balance requirements.
Both charge a 2.5% foreign currency conversion fee. No-fee cash back cards from every issuer are compared in the best cash back credit cards.
Registered Accounts (TFSA, RRSP, RRIF)
Tangerine offers TFSA, RRSP and RRIF accounts as savings accounts or GICs. It doesn’t offer an RESP, so education savings need a different provider.
Who Tangerine Suits
Everyday no-fee bankers who want chequing, savings and a credit card without monthly fees or minimum balances.
Regular ATM users, through the Scotiabank network.
People who want a no-fee cash back card with categories they choose.
Less suited to: savers who want a high posted rate without chasing promotions, people who want the highest GIC rates, families who want an RESP in the same lineup, and people who want premium travel card benefits. Tangerine against its closest rivals, Simplii and EQ Bank, is covered in Simplii vs Tangerine vs EQ Bank.