Tangerine Bank
📍 Available in: Canada
★★★★★ 4.7 / 5.0
Tangerine (formerly ING Direct Canada) is an independently operated subsidiary of Scotiabank. Tangerine provides a full suite of consumer banking products without the Big Five monthly account fees. Clients get free access to over 3,500 Scotiabank ABMs nationwide, a customizable 2% cash back Mastercard, and high-interest savings accounts.
Key Facts at a Glance
| Cost / Fee Structure | $0 Chequing Account Fee |
| Credit / Eligibility | Fair to Good (for Overdraft/Credit Line) |
Pros & Cons
✓ Pros
- ✓Backed by Scotiabank with access to nationwide physical ABM deposit network
- ✓Free debit card and free physical cheque book for rent/deposits
- ✓Frequent high-rate savings promotions for new and existing deposits
✕ Cons
- ✕Base non-promotional savings rate is modest compared to EQ Bank
- ✕Customer service phone queues can be lengthy during promotional spikes
Key Features
Free Access to 3,500+ Scotiabank ABMs across CanadaNo-Fee Daily Chequing with Free Automated Savings ProgramsFirst 50 Cheques Free upon Account OpeningTangerine Money-Back Credit Card (2% in up to 3 categories)TFSA, RRSP, and RRIF Savings and GIC options