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Tangerine Review 2026: Chequing and Savings
Written by Lauren Brown,
Edited by Kevin Shahnazari
Last updated on June 28, 2026
Fact Checked
FinlyWealth rating
🏅
4.2
Products they offer:
Best for:
Tangerine is best suited for Canadians who want low-cost digital banking and competitive cashback rewards.
Overview
Tangerine Bank, or Tangerine as it’s known, is a subsidiary of Scotiabank, formerly part of ING Direct. Operating with its own coverage from the Canadian Deposit Insurance Corporation (CDIC), Tangerine has a sound reputation. Forbes even ranked the institution as number one in Canada on its list of the World’s Best Banks 2026 for two consecutive years.
The institution has a strong lineup for a digital bank, offering no-fee chequing and savings accounts as well as highly rated credit cards. Tangerine also provides lending services to its customers with mortgages, HELOCs, and lines of credit, and even has business banking, though it’s not a complete offering.
Unlike the major Canadian banks, many of its premium services come from partners or the Scotiabank network, rather than Tangerine itself. For example, the bank has insurance through its partner Sonnet Insurance and free ABM access through Scotiabank and its Global ATM Alliance. Tangerine does, however, have an in-house offering of mortgages and lending services.
Pros
- No fee chequing account with unlimited transactions
- Minimum balance not required for savings or chequing accounts
- Competitive no-annual-fee credit cards
- Attractive promotional rates for eligible customers
- Backed by Scotiabank, making it more reliable than standalone digital banks
- Free access to over 3,500 Scotiabank ABMs in Canada and 44,000 international machines through Scotiabank’s Global ATM Alliance
Cons
- No traditional branch network or in-person service
- Ongoing savings rates are relatively lower than competing products from other digital banks
- Narrow product lineup compared to the major banks
- Mixed customer service reviews
- Limited premium rewards
Product Reviews
Savings Accounts
Tangerine Savings Account
Tangerine Savings Account
3.7 Our rating
OPEN ACCOUNT
on Tangerine's website
Welcome Bonus
4.50% rate for 5 months
Regular Interest
0.3%
Monthly Fee
$0
Tangerine’s Savings Account gives Canadians a low-cost account that pays interest on every dollar. Promotional savings offers can also provide an added bonus (if you qualify). The account is more accessible than some options from competitors as it does not charge a monthly fee and has no minimum balance requirement.
The account’s main drawback is its ongoing interest rate, which is modest compared to some of the strongest digital high-interest options. For that reason, the Savings Account is best for customers who value no monthly fees and easy transfers within Tangerine’s digital platform. It may not, however, be the best choice for those who want to earn the highest available interest rates.
Save with Tangerine at a great 4.50% interest rate for 5 months.2
You’ll earn it in your first Tangerine Savings Account and on other Savings Accounts you open during that time period, too – including TFSA and RSP Accounts.
Offer validity: November 13, 2025 - July 31, 2026
Great rate with no minimum balance
Grow your savings with an interest rate of 0.30%† since September 10, 2024. Earn the same great rate on every dollar in your Account.
No unfair^ fees or service charges
We simply don’t believe in unfair fees. So you won’t have to pay to save with us.
Reach your goals faster
A Tangerine Savings Account comes with tools to make it super simple to reach your goals.
Automate your savings
With an Automatic Savings Program, you can save without even thinking about it.
Chequing Accounts
Best for: No fee everyday banking
OPEN ACCOUNT
on Tangerine's website
Welcome Bonus
Move your pay to earn $250(1)
Regular Interest
Up to 0.1%
Monthly Fee
$0
Account Type
Chequing • Personal
The Tangerine No Fee Chequing Account is one of the strongest banking options for Canadians who want to avoid paying monthly account fees without giving up core banking features. With unlimited daily transactions, it comes without any minimum balance requirement and even pays a small tiered interest rate on balances.
For Canadians who don’t require branch access and are comfortable with a digital-first approach to banking, Tangerine provides a compelling option. Customers also have access to over 3,500 Scotiabank ABMs throughout Canada and over 44,000 ABMs worldwide6. This helps customers avoid one of the major weaknesses of online-only banks. The downside is that the bank doesn’t have the same in-person support as a full branch-based bank. Anyone who needs regular in-person service may prefer a traditional chequing account. Those who want simple, low-cost everyday banking through a digital bank will find that the Tangerine No Fee Chequing Account offers excellent value.
Move your pay to earn $2501
- Become a client: sign up in minutes on your phone and get ready to have simple banking at your fingertips.
- Open your Chequing Account: It’s the original no monthly fee digital bank Account, designed to uncomplicate your life.
- Switch your payroll deposits to earn $2501: Move your paycheques to your Tangerine Chequing Account for 2 consecutive months, and we’ll give you $250.
Offer validity: May 1, 2024 - October 31, 2026
No monthly Account fees with no minimum balance
You don’t have to keep a bunch of money in the Account just to avoid a fee. No monthly fee means no monthly fee at all.
Free Interac e-transfer® transactions
Send money securely within Canada, directly from your Account. And when you register for Autodeposit, any money sent to you via Interac e-Transfer is deposited into your Account automatically.
Shop with confidence
With Interac & Visa Debit Zero Liability protection, you’re protected from unauthorized purchases.
Unlimited number of daily transactions
This includes an unlimited number of debit purchases, bill payments, and pre-authorized transactions.
Account Fees
Monthly Fee
$0
eStatement
Included
Transactions
Transactions
Unlimited free
Interac e-Transfers
Unlimited free
ATM Fees
Own Network
$0
Canadian ATMs
$1.5
USA
$3
International
$3
International & Currency
Foreign Currency Conversion
2.5%
Other Fees
NSF (Non-sufficient Funds)
$10
Overdraft Interest
19% annually (if used)
Bank Draft
$10
Credit Cards
APPLY NOW
on Tangerine's website
Welcome Bonus
Get $100 with a Tangerine® Money-Back World Mastercard®* and a limited time promo rate on balance transfers
Annual Fee
$0
Interest Rates
20.95%* / 22.95%*
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.6/5
While we think Tangerine World Mastercard isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. For no annual fees
Pros
- Customizable cashback
- No annual fee
- Unique cashback categories available
- High recurring transactions optimization
- High pharmacy purchase optimization
- Airport lounge membership
Cons
- Income requirements
- Low base earn rate
Rewards
- 2% Money-Back Rewards on your choice of two categories from the 13 offered by Tangerine (Grocery, Restaurants, Gas, Entertainment, Furniture, Hotel-Motel, Drug Store, Reccurring Bill Payments, Home Improvement, Public Transportation and Parking and more). Change them up every 90 days to match spending habits.
- Have your Money-Back Rewards deposited into a Tangerine Savings Account and get a third 2% Money-Back Category.
- 0.5% cashback on all other eligible purchases.
Insurance
Coverage
Purchase Protection
90 days
Extended Warranty
1 year
Mobile Device Insurance
$1,000.svg?dpl=dpl_6xm5FaR6yFNog4jKCkmUjH18M9nN)
Car Rental Damage & Theft
31 days
Benefits
Details
Airport Lounge - Dragon Pass
Pass only. No Complimentary visits!
Wireless Credit
FlexiRoam 1GB Global Data Roaming Plan and 15% off on purchase of Data Plans.
Mastercard On-Demand and Subscription Services
Access 50+ live-stream sports channels and save $30 on your first three months of Fubo (excludes Quebec)
Eligibility
Credit Score
GoodAnnual Income
$50,000 personal or $80,000 household
APPLY NOW
on Tangerine's website
Welcome Bonus
10% Cash Back (up to $100 value) + 1.95% balance transfer promo rate for 6 months
Annual Fee
$0
Interest Rates
20.95%* / 22.95%*
RECOMMENDED CREDIT SCORE
300Poor
560⁎Fair
660⁎Good
725⁎Very Good
760⁎Excellent
4.4/5
While we think Tangerine isn't the best single credit card to own, it's still a valuable card to have in your arsenal for maximizing your rewards. It offers one of the highest cashback rates for pharmacy and recurring bill payments, areas where your other credit cards might not provide significant rewards. This card only requires a Fair credit score, making it an excellent choice for people who don't have a high credit score yet.
Awards & Recognition
Best Starter Credit Card
2026
Pros
- Customizable cashback
- Unique categories available
- High recurring transaction optimization
- High pharmacy purchase optimization
- Bonus category available
- No annual fee
Cons
- Basic insurance
- Low base earn rate
Rewards
- 2% Money-Back Rewards on your choice of two categories from the 13 offered by Tangerine (Grocery, Restaurants, Gas, Entertainment, Furniture, Hotel-Motel, Drug Store, Reccurring Bill Payments, Home Improvement, Public Transportation and Parking and more). Change them up every 90 days to match your spending habits.
- Have your Money-Back Rewards deposited into a Tangerine Savings Account and get a third 2% Money-Back Category.
- 0.5% cashback on all other credit card purchases.
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
Up to a year
Eligibility
Credit Score
FairAnnual Income
$12,000 personal
APPLY NOW
on Tangerine's website
Welcome Bonus
Earn up to $600* in value for the first year
Annual Fee
$120
Interest Rates
20.95%* / 22.95%*
RECOMMENDED CREDIT SCORE
300Poor
560Fair
660⁎Good
725⁎Very Good
760⁎Excellent
3.3/5
The Tangerine Rewards World Elite Mastercard is a flexible everyday card built around choice rather than specialization. Its standout feature is the ability to pick three 1.5x Scene+ categories from a list of 13 and swap them every 90 days to suit your spending. It also comes with Shell fuel savings, four DragonPass lounge passes, and Premium insurance coverage, including travel, event ticket protection, purchase protection, and more. It's not designed to compete with dedicated travel cards or category-specific earners, but for those who want one adaptable card to cover a range of purchases, it's a sensible all-rounder.
Pros
- Customizable rewards
- Unique rewards categories available
- Airport lounge visits
Cons
- Income requirements
- Low base earn rate
- $120 annual fee
Rewards
- Earn 1.5X Scene+ Points in 3 Accelerator Categories: Choose from 13 Categories and you can even switch them every 90 days (Grocery, Restaurants, Gas, Public Transportation and Parking, Entertainment, Furniture, Home Improvement, Hotel-Motel, Drug Store, Recurring Bill Payments, E-Games, Fitness and Sports Clubs, Foreign Currency Spend).3
- Plus, get 1 Scene+ point per $1 spent on everything else.3
Insurance
Coverage
Purchase Protection
90 daysExtended Warranty
1 yearMobile Device Insurance
$1,500Car Rental Damage & Theft
48 days
Trip Cancellation
$2,000 per insured person, up to $5,000 per trip for all insured persons
Trip Interruption
$2,000 per insured person, up to $25,000 per trip
Flight Delay
$250 per 24 hours, up to $500 per trip for all insured personsBaggage Delay
$500
Lost or Stolen Baggage
$1,000
Hotel Burglary Insurance
$1,000
Travel Medical Insurance (64 & under)
$5,000,000
Event Ticket Cancellation
$1,000
Benefits
Details
Airport Lounge - Dragon Pass
4 complimentary visits annuallyWireless Credit
Enjoy a complimentary 3GB Global Data Roaming Plan.svg?dpl=dpl_6xm5FaR6yFNog4jKCkmUjH18M9nN)
Gas Discount
Get up to 10 c/L in value
Eligibility
Credit Score
GoodAnnual Income
$80,000 personal or $150,000 household
Customer Experience
3.5/5
Like most of the Canadian banks, Tangerine has polarizing comments from its customers. Common complaints are about the bank’s service, with one reviewer saying: “Tangerine customer service doesn't know what they are doing.”
Tangerine also receives criticism on its website, with users stating it “is SO SLOW and glitchy." But then it also has reviews saying the "website is dependable, user-friendly." Despite the array of comments, the bank still came in at number 4 on Surviscor’s 2025 Consumer Mobile Banking Rankings as the “best among branchless banks.”
Rating Methodology
How We Rate Tangerine Bank
Our ratings are based on a comprehensive evaluation of each financial institution across multiple categories. We assess the quality and competitiveness of their products, fees, interest rates, customer experience, and overall value proposition.
Overall Rating
A weighted average reflecting the institution's performance across all evaluated categories.
Product Offerings
Evaluates the breadth and quality of available products including credit cards, savings accounts, and chequing accounts.
Fees & Rates
Compares monthly fees, interest rates, and fee waiver options against industry standards.
Customer Experience
Assesses the quality of customer support, digital banking tools, and overall user experience.
Rating Scale: All ratings are on a scale of 0 to 5, where 5 represents exceptional performance and 0 represents significant concerns. Ratings are reviewed and updated regularly to reflect changes in products, pricing, and services.
Frequently Asked Questions
Tangerine can be better for those customers who want no-fee digital banking and simple online management. Other customers who prefer in-person service and a broader ecosystem, including complex financial advice, may benefit more from a traditional bank.
Tangerine does not charge monthly fees on either its Chequing Account or its Savings Account.