Tangerine Bank offers one of the best free chequing accounts for Canadians. That is, they do not charge 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 and Tangerine promo codes below, you may qualify for up to $400 in free cash.
I have used Tangerine since 2014, and my experience has been great.
Tangerine Accounts and Promotions
Tangerine offers a variety of accounts, including:
1. Savings Accounts
Basic savings, TFSA, RRSP, US$, and RRIF savings accounts. Their savings account provides the following general benefits:
- Promotional high-interest rate of 5.00% for five months and 1.00% after
- No monthly fees or service charges
- No minimum balance requirement
- Automatic savings plan
If you are looking for a high non-promotional interest rate for your savings, you can also look at the EQ Bank Savings Plus Account. It offers a 2.50% non-promotional rate. For TFSA and RRSP accounts, EQ Bank offers a top 3.00% interest rate. For GICs, you can earn up to 4.85%.
2. Chequing Account
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
Note that Simplii Financial is currently also offering a $350 cash bonus when you open its no-fee chequing account.
Tangerine $400 Offer
This is Tangerine’s current offer.
To take advantage, become a Tangerine Client using the Promo Code EARNMORE and open a no-fee chequing and savings account.
Earn a cash bonus of 20% on eligible transactions using the Visa Debit feature of your client card for 60 days (up to a maximum of $400). The 60-day period for eligible transactions begins when your client card is activated.
Examples of eligible transactions include online shopping, recurring bill payments, food delivery orders, ride-sharing, etc.
When you open a new Tangerine savings and chequing account online using the promo code EARNMORE, you may qualify for a
$300 bonus if you meet the eligibility requirements as follows:
- 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 goes on for at least three months, a $300 cash bonus is deposited into your account after the third month.
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 (10% bonus cash back for a limited time – $100 value)
- 0.5% unlimited cash back on all other purchases
- $0 annual fee
- Balance transfers at 1.95% interest for the first six 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 hold in TFSA, RRSP, RRIF, or non-registered investment accounts. You can read my review of the Tangerine Investment Funds and Tangerine GICs.
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 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 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.
Tangerine Promotion FAQs
You can use a valid Orange key, such as 54058459S1 or a Tangerine promo code from the Tangerine website.
When you open a new Tangerine savings or chequing account and enter a valid promotional or referral code, you get a $50 bonus after meeting the eligibility requirements, e.g. by making a small deposit in your savings account or by setting up direct deposits to your chequing account. Sometimes, the bonus offer is $150, $200, or $300.
New bank account promotions constantly change in Canada as banks try to attract new clients and beat their competition. Check out updated bank promotions here.
- EQ Bank Savings Account Review
- Tangerine Bank vs Simplii Financial Review
- Tangerine vs EQ Bank
- The Best Free Chequing Accounts in Canada
- The Top GIC Rates in Canada
Tell us about your Tangerine Bank experience below in the comments!
Tangerine Promotions and Orange Key - Up to a $400 Bonus
Ease of use
Tangerine offers a free chequing and savings account that earns high-interest rates. You can get up to $400 in cash bonuses after you open a new savings and chequing account.
- Free chequing account
- Cash welcome bonus
- High-interest rates on savings
- No minimum balance
- No in-person support
- Promotional rates don’t last
15 thoughts on “Tangerine Promotions and Orange Key 2023: $400 Bonus Offer”
This is great info. Thank you. One question – are Tangerine accounts insured like the big banks?
Yes, the funds you put in your chequing or savings account with Tangerine is insured by CDIC up to $100,000 per account category.
Do you have to use a promotional code for this? because I didn’t see one when I opened an account and set up pre-authorized payments.
@Rose: Only the links in this post are required to take advantage of the interest rate promo offer as well as the cash bonuses on chequing.
I want to sign up for a new savings account. When looking at the coupons, there is quite a variety. What are the differences between cash bonus, credit, bonus, extra in your account, free cash. I would think that the success rate should be near 100% for each, yet some are quite low. I am looking at the one to add my payroll direct deposit to. Are there any silly rules, ie. must set it up when opening account. It seems too good – there must be catches.
Hi I left reply few days ago but it’s gone. Anyway, these Tangerine promotion, for both savings and chequing, are stsill on? I’d like to make sure before proceeding. Please confirm.
Has the chequing account $200 bonus expired? The link brings you to the savings account sign-up and I don’t see this promo anywhere on tangerine’s website.
@Chris: The chequing account offer is currently on hold and re-directing to their savings account offer.
I would like to change my checking account to Tangerine is there a promo code ?
When will the 200$ bonus be credited to the account? I have had the two recurring payments running for 3 months and the bonus is not yet credited. Should I call them to ask for it ?
@Ram: Yes, I’d suggest you give them a call if you have already met all the eligibility requirements.
I called them and they suggest I wait until the third month is over. what did they tell you?
Hi I’m having a hard time finding out if car and truck insurance payments are considered reoccurring bill payments. They are monthly icbc insurance payments out of my bank account.
I have an EQ account that is only accessible by online banking. the funds there have to be transferred to an actual bank account such as RBC, can I transfer the funds to a Tangerine account?
I tried to apply for a new account online but the application keeps getting a prompt saying that there is something wrong with my Social Security Number. I wrote it in exactly has I have had the number for more than 55 years. The popup instructed me to call an 1-866 number but when I called, I’ve been on hold for 10 minutes!!!
At least, Tangerine could offer a call back option!!!!!!!!