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Tangerine Bank offers one of the best free online bank savings and chequing accounts for Canadians. That is, they do not charge any ridiculous monthly fees.

When you sign-up for a new Tangerine Bank account and enter a valid Orange Key code (54058459S1), you also qualify for up to $200 in free cash! I show you how to claim this bonus offer 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 (+$50 Bonus)

Basic savings, TFSA, RRSP, US$, and RRIF savings accounts. Their savings accounts provide the following general benefits:

  • High-interest rate (2.75% bonus rate for 6 months and 1.20% after)
  • No monthly fees or service charges
  • No minimum balance requirement
  • Automatic savings plan

To open a savings account and receive a $50 bonus, you can either:

A) Click here and enter the Orange Key 54058459S1 when prompted. Deposit at least $100 in your new account and you will be credited with a free $50.

B) Alternatively, you can simply visit Tangerine here and follow the instructions for redeeming your $50 bonus.

2. Chequing Account ($200 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 0.65%
  • First 50 cheques free
  • Mobile cheque deposit

Tangerine will reward you with up to a $200 cash bonus when you open a new free chequing account. Follow these steps to claim your reward!

A) Visit Tangerine Bank using this link and follow the instructions for setting up your account. You will receive an initial $50 after you deposit at least $100 in your new account.

B) An additional $150 is credited to your account when you:

  • Switch your payroll deposit to your Tangerine chequing account within 3 months of opening the account, or
  • Switch 2 pre-authorized bill payments of at least $50 each to your new chequing account.

Tangerine Orange Key $50 Bonus

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 the most popular online-only bank in Canada. In addition to providing Canadians with high-interest savings and 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 rewards when they sign up using your code. You can earn up to $3,200 from referring friends.

To Recap

For savings accounts: Visit Tangerine here and enter the Orange Key 54058459S1. Fund your account with at least $100 to receive a $100 bonus.

For chequing accounts: Visit Tangerine here and follow the instructions on the page. You will receive a $50 bonus after depositing a minimum of $100. An additional $150 cash is credited o your account if you set up payroll deposits or two pre-authorized payments of at least $50 each.

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Tangerine Orange Key - Enter 54058459S1 for $50 Bonus
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Summary

Tangerine offers a free chequing and savings account that earns high-interest rates. Use my free Tangerine Orange Key 54058459S1 to get $50 cash after you deposit at least $100 in your new account.