Tangerine No-Fee Daily Chequing Account review
- Bonus Offer
- Earn $500
- Monthly Account Fee
- $0
- Free Transactions
- unlimited
- e-Transfer Fee
- $0
Our verdict
Pay a $0 monthly fee to get unlimited free transactions and earn interest on every dollar in your account.
If you’re looking for a hassle-free bank account that doesn’t cost you an arm and a leg, then a Tangerine chequing account might be the way to go. It comes with a $0 monthly fee, and you won’t have to pay for charges on daily transactions. Find out more about whether this account could be the right fit for you, and sign up today to get started.
Pros
-
Unlimited transactions
-
Free Interac e-Transfers
-
Free ATM withdrawals
Cons
-
Charges for certain ATMs
-
Only one free replacement card
-
NSF fees
30-second take
- Think about a Tangerine No-Fee Daily Chequing Account if you want unlimited free transactions and you’d prefer to pay a $0 monthly fee.
- Choose something else if you want to earn a very high interest rate or you would rather keep your money with a bank that has branches you can visit in person.
What are the benefits of a Tangerine No-Fee Daily Chequing Account?
If you’re looking for an everyday account that gives you unlimited withdrawals for a $0 monthly fee, you might be interested in a Tangerine No-Fee Daily Chequing Account.
- Decent rates. You’ll earn between 0.01% and 0.1% interest on any balance you keep in your account
- Unlimited transactions. Make in-store purchases, pay bills and carry out other types of daily transactions with no extra fees.
- Free Interac e-Transfers. Avoid paying fees when you want to send money to family or friends with free Interac e-Transfers.
- Free ATM withdrawals. Get access to free withdrawals at more than 3,500 ATMs across Canada (on the Scotiabank network).
- Free cheques. Receive 50 cheques for free as part of your welcome package, and pay only $50 for any subsequent book of cheques you order.
- Mobile cheque deposit. Deposit cheques easily into your account without having to go into a branch.
- Overdraft protection. Ask about overdraft protection to save you from non-sufficient funds (NSF) fees if you have to go into the red on your account.
- Special promotions. You’ll get incentives to sign up for an account at certain times of the year (such as a welcome bonus).
What to watch out for with a Tangerine No-Fee Daily Chequing Account
While Tangerine No-Fee Daily Chequing Accounts are known for offering a wealth of benefits, there are also a couple of potential drawbacks you should be aware of.
- Charges for certain ATMs. You’ll be charged a small fee every time you withdraw cash on an ATM that isn’t on the Scotiabank network.
- Only one free replacement card. You’ll only get one free replacement card per year before you have to pay $15 for each new card.
- NSF fees. You’ll be charged a fee of $45 every time you don’t have enough money in your account to cover an automated withdrawal.
- No wire transfers. You won’t be able to send money overseas with your Tangerine No-Fee Daily Chequing Account.
- No in-person service. You won’t be able to visit a branch in-person to do your banking, except at a Tangerine Cafe in Toronto, Vancouver, Calgary or Montreal.
What should I know before I apply?
To open a Tangerine No-Fee Daily Chequing Account, you’ll need to meet the following criteria:
- Be a resident of Canada with a valid Social Insurance Number
- Be 16 years of age or older
- Have an email account
How do I open an account?
- To open a Tangerine No-Fee Daily Chequing Accountt, you’ll need to fill out a quick and easy online application. Follow these steps to get started:
- Head to the Tangerine website and click “Sign Me Up” when you reach the No-Fee Daily Chequing Account page.
- Complete the application, which includes providing your name, email address, Social Insurance Number and birth date.
- Review the details of your account and apply with the click of a mouse.
Bottom line
Tangerine is one of Canada’s largest and most reputable online banks. Its chequing account is well-known for offering $0 monthly account fees and decent interest rates on any money you hold as part of your balance. Find out what you need to qualify for this type of account and learn more about how you can apply online today.
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