Tangerine Bank has established itself as one of the leading forces in digital banking in Canada. It is known for cutting down on fees and streamlining the banking process. Keep reading to see a full breakdown of what Tangerine offers and how to decide if it\u2019s the right bank for you.<\/p>
Tangerine is a digital bank in Canada offering a full suite of banking products through its online platform and mobile app. As a digital bank, it doesn\u2019t have any physical branch locations.<\/p>
Tangerine\u2019s main shtick is that it passes on the savings from lower overhead costs (compared to traditional brick-and-mortar banks) to its customers by offering no-fee banking.<\/p>
Tangerine Bank first launched in 1997 under the name ING DIRECT Canada, but after Scotiabank acquired the bank in 2012, it was rebranded as Tangerine. It now operates independently as a wholly-owned subsidiary of Scotiabank.<\/p>
Tangerine Bank offers a decent variety of financial products and services. All of Tangerine\u2019s offerings come with no monthly fees. Here is a snapshot of Tangerine Bank\u2019s financial product options:<\/p>
Tangerine offers the Tangerine No-Fee Daily Chequing Account. This is one of the few chequing accounts in Canada that lets you earn interest on your balance (between 0.01% and 0.1% depending on how much money you have in your account).<\/p>
You\u2019ll also get unlimited free transactions, including free Interac e-Transfers, debit card purchases, bill payments and withdrawals. Tangerine clients have unlimited access to over 3,500 Scotiabank ATMs across Canada and international ATMs through the Global ATM Alliance.<\/p>