Tangerine Bank offers one of the best free chequing accounts for Canadians. That is, they do not charge any ridiculous monthly fees to receive or hold funds in your chequing.
When you sign-up for a new Tangerine Bank account and enter a valid Orange Key Code or use the links below, you may qualify for up to $200 in free cash! I show you how to claim these bonus offers below!
I have personally used Tangerine since 2014 and my experience has been great so far.
Tangerine Accounts and Orange Key Sign Up Bonuses
Tangerine offers a variety of accounts including:
1. Savings Accounts (up to $50 Bonus)
Basic savings, TFSA, RRSP, US$, and RRIF savings accounts. Their savings account provides the following general benefits:
- Promotional high-interest rate of 2.10% for 5 months and 0.10% after
- No monthly fees or service charges
- No minimum balance requirement
- Automatic savings plan
Tangerine’s savings interest rates fell off the cliff recently. If you are looking for a high non-promotional interest rate for your savings, take a look at the EQ Bank Savings Plus Account. It offers a 1.50% standard rate.
For TFSA accounts, EQ Bank offers a top 2.30% interest rate.
2. Chequing Account (up to $150 Bonus)
Tangerine offers a no-fee chequing account that earns interest like your savings. Features of the chequing account include:
- Unlimited free daily transactions (debits, bill payments, pre-authorized payments, and email money transfers)
- Access to 3,500 free Scotiabank ATMs across Canada and 44,000 ATMs worldwide
- Interest on your account balance up to 0.10%
- First 50 cheques free
- Mobile cheque deposit
Tangerine will reward you with up to a $150 cash bonus when you open a new chequing account and meet the eligibility requirements, including:
- Open your first eligible savings account and chequing account within 30 days.
- Switch your payroll deposit to your Tangerine chequing account within 60 days of opening the account, and
- Receive your payroll direct deposit to your Tangerine chequing account for at least 3 consecutive months.
After your direct deposit go on for at least 3 months in a row, a $150 cash bonus is deposited into your account.
3. Credit Card
Tangerine has a no-fee Money-Back credit card that offers:
- 2% unlimited cash back on up to 3 categories of spending
- 0.5% unlimited cash back on all other purchases
- $0 annual fee
- Balance transfers at 1.95% interest for the first 6 months
- Purchase security and extended warranty
Apply for the Tangerine 2% money-back credit card.
4. Investment Funds: They have several low-cost index funds that you can utilize in a TFSA, RRSP, RRIF, or non-registered investment accounts. You can read my review of the Tangerine Investment Funds here.
5. Mortgages, HELOC, and RRSP Loans
Tangerine Orange Key Bonus and Referral
Tangerine Bank is one of the top online-only banks in Canada. In addition to providing Canadians with a free chequing account, they also reward you when you refer others.
After opening a new account, you will be provided with an Orange Key which you can provide to your friends and family who are interested in opening an account.
You and your friend each receive a $50 cash reward when they sign up using your Orange Key Code. You can refer up to three friends each year.
- EQ Bank Savings Account Review (1.50% interest rate)
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Tell us about your Tangerine Bank experience below in the comments!
Tangerine Promotions and Orange Key - Up to a $200 Bonus
Tangerine offers a free chequing and savings account that earns high-interest rates. You can get up to $200 in cash bonuses after you open a new savings and chequing account.