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Comparing the best Tangerine chequing accounts can help you decide which account best suits your spending needs. Tangerine is a division of Scotiabank that provides credit cards, mortgages, savings, and chequing accounts, GICs, investment products and loans.
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Last Updated: Nov 29, 2023
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Tangerine provides a no-fee daily chequing account with free ABM access. This chequing account also offers free transfer transactions and overdraft protection.
Holders of chequing accounts earn interest up to 0.10%. On opening an account, first-timers get a 2% promotional rate benefit. This account offers many benefits and features.
This article will explain everything there is to know about the best Tangerine chequing accounts.
Tangerine provides only one chequing account, the Tangerine No-Fee Daily Chequing Account. This account requires no minimum balance and gives you earnings on your account balance. You can also make bill payments, pre-authorized payments, and withdrawals.
In addition, there’s a free Tangerine email money transfer and unlimited debit purchases. For the first two months of using the Visa debit card for purchases, you’re guaranteed 20% cash back. Regarding interest, the no-fee daily chequing account has a drawback. With $49,999, you get an interest rate of 0.01%.
The best Tangerine chequing accounts offer the following features:
Here’s the fee structure you can expect from the Tangerine chequing account
Before opening this account, you must understand that you must fulfil some prerequisites to be eligible. You must:
The following are the different methods to open a Tangerine Chequing account:
This is one of the ways to open a Tangerine chequing account. What you should do is follow the steps below:
Opening a Tangerine No-Fee daily chequing account via the website will require a few simple steps. They are:
If you prefer someone to help you open this account, you should go to a Tangerine ABM. They’ll provide the help you want, from confirming your cheque to walking you through the whole application process.
888-826-4374 is the number used to contact Tangerine. Once dialled, an automatic system voice will instruct you to input your account number or press “#” if you’re yet to open an account. After that, follow these steps to move forward:
Further into this best Tangerine chequing accounts article, we’ll explore some of the alternatives to this chequing account. These alternatives also offer some attractive financial products that are worth considering. They are:
Tangerine and Simplii are similar regarding product type but differ in other ways. While Tangerine offers interest of 1%, Simplii’s interest rate is 1.50%.
Both banks will work fine if you want something void of monthly fees and convenience. Also, Simplii Financial allows for international transfers.
Manulife also provides a chequing account with no monthly fee attached. Compared to Tangerine, Manulife requires a minimum balance of up to $1000.
They also offer an interest rate of 0.15 on their hybrid chequing account. As an account holder with Manulife, you can access over 3,500 ATMs in Canada.
This is another alternative to the Tangerine chequing account. They offer business accounts, retirement accounts, and hybrid savings/chequing accounts.
It has no minimum account balance and offers low fees on investments. Although Wealthsimple isn’t a bank per se, it provides a variety of outstanding financial products.
This is the online version of Equitable Bank, which provides interest benefits of 1.50%. It has no monthly fee or minimum account balance.
Although it has no sign-up bonus, you can perform many transactions for free. While Tangerine doesn’t support international transfers, EQ Bank offers transfers internationally.
Let’s look at some other helpful information as regards the best Tangerine chequing accounts.
Like other financial institutions in Canada, Tangerine put preventive measures in place regarding privacy standards. This includes:
Tangerine uses “DoubleSafe,” a technology that allows you to select a customized statement or picture when signing in. This ensures double protection, safeguarding you from scammers.
In addition, Tangerines’ credit cards no longer have magnetic strips but are secured with SecureChip technology.
Although email is difficult, you can contact Tangerine via their customer care line (1-888-826-4374). You can use Live chat on their website, but not always. To find this, navigate downwards on the Tangerine’s page and select “Contact us.” You’ll see the chat pop-up and its duration if available.
Aside from chequing accounts, Tangerine also provides other services. They include:
If you’re looking for the best Tangerine chequing accounts, you should go for the no-fee daily chequing account. It helps you skip the daily bank transaction fees.
Plus, you can freely withdraw from any of Scotiabank’s ATMs since it owns the company. This account has many perks that you might find suitable for your financial needs.
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While some banks require a minimum daily balance in your account, Tangerine chequing doesn't require such. There's no required minimum account balance when it comes to Tangerine. You get interest on the amount in your account without paying a monthly fee.
Opening a Tangerine chequing account is very easy. Visit the website, follow and fill in the form required, and that's it. To get the tangerine welcome bonus, you'll have to follow a few simple prompts. If you don't want to use the website, you can make a call through or visit any of their local cafes.
The Tangerine chequing account is an account for regular spending. This means you can deposit or withdraw at any time you like. On the other hand, a Tangerine savings account is intended primarily for saving money over an extended period. This account prevents unnecessary spending and accumulates interest.
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