Loading article…
Tangerine is a Canadian online bank known for its no-fee accounts and advantageous credit cards. It also offers savings products, investments, and financing solutions accessible throughout Canada.
To get the most out of it, see how to maximize the Tangerine Money-Back Card based on your spending profile.
Unlike traditional banks, Tangerine operates primarily online. You can therefore manage your finances from a mobile app or a computer without paying monthly fees for several common services.
In this article, discover our Tangerine review, its main financial products, benefits, limits, and the user profiles that can truly benefit from it.
What is Tangerine?
Tangerine is a Canadian online bank that offers bank accounts, credit cards, savings products, and financing solutions. It is owned by Scotiabank.
Unlike traditional banks, Tangerine operates primarily without branches. You manage your banking operations online, via a mobile app or a computer.
The bank is primarily recognized for:
- its accounts with no monthly fees;
- its promotions on savings accounts;
- its credit cards with cash back or points;
- its simple digital experience.
Even though Tangerine has no physical branches, customers can use Scotiabank ATMs across Canada.
Today, Tangerine primarily targets Canadians who want to reduce their banking fees while maintaining accessible and competitive financial products.
Tangerine Financial Products
Tangerine offers several financial products accessible online, mainly centered on bank accounts and savings. The offering is designed to simplify daily financial management without unnecessary fees.
In this section, we present the main accounts offered, namely the chequing account and the different types of savings accounts available.
Tangerine No-Fee Daily Chequing Account
Tangerine offers a chequing account with no monthly fees and no minimum balance, ideal for simplifying your day-to-day finances.
In addition, new clients can get up to a $250 bonus:
- Get $250 by depositing your eligible pay into a new Tangerine chequing account for at least 2 months;
- The offer ends April 30, 2027.
Here are the main features of the Tangerine No-Fee Daily Chequing Account:
- No monthly fees or minimum balance required
- Unlimited transactions and Interac e-Transfers
- User-friendly mobile app to manage your transactions
- Earn up to an extra $300 per year by referring friends and family
Enjoy free access to more than 3,500 Scotiabank ABMs in Canada and more than 44,000 ABMs worldwide through the Scotiabank Global ATM Alliance, and earn interest on your chequing account balance.
Tangerine Savings Account
Until November 30, 2026, you can get a 4.50% interest rate for 5 months† by opening a Tangerine Savings Account!
Here are the main features of the Tangerine Savings Account:
- No service fees or other fees
- No minimum balance required
- Competitive interest rate
- Interest calculated daily and paid monthly
- Manage your savings through the Tangerine mobile app
The promotional rate applies to new deposits, up to a maximum of $1,000,000.
Regular interest rate of 0.30% and no minimum balance required.
Tangerine Tax-Free Savings Account
Take advantage of the Tangerine Tax-Free Savings Account (TFSA) and save without paying tax on the interest you earn or on withdrawals.
With no monthly fees, you can access your money at any time and easily manage your account online or through the mobile app.
Contribute up to $7,000 per year and reach your financial goals faster.
Tangerine RSP Savings Account
Choose the Tangerine RSP Savings Account and enjoy an attractive interest rate with no monthly fees or minimum balance required.
Save for retirement while enjoying tax benefits, with tax-deductible contributions and savings that grow tax-sheltered until you withdraw them.
Tangerine RIF Savings Account
The Tangerine Retirement Income Fund (RIF) Savings Account offers an attractive interest rate with no monthly fees or minimum balance required.
Enjoy flexible withdrawals for your retirement income while your savings stay tax-sheltered until you withdraw them.
Tangerine US$ Savings Account
Save in US dollars with the Tangerine US Dollar Savings Account.
Enjoy an attractive interest rate with no monthly fees or minimum balance required.
Make free transfers to and from other Tangerine accounts and manage your finances easily with online and mobile banking.
Tangerine Credit Cards
Tangerine offers two credit cards with cash back, as well as a credit card with Scene+ points:
Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card has no annual fee and offers cash back.
With this limited-time welcome offer, you can get an extra 10% cash back (up to $100) when you spend up to $1,000 on everyday purchases in the first 2 months.
You can choose two or three purchase categories that suit you (groceries, gas, furniture, home improvement, recurring bills, drugstore, etc.) to earn 2% cash back, with no annual cap on cash back. It is also one of the best credit cards for renovations.
In addition, the Tangerine Money-Back Credit Card offers several purchase protection coverages:
- 90-day purchase assurance
- One-year extended warranty
Finally, within the first 30 days of having the card, transfer credit card balances and pay only 1.95% interest on those balances for the first 6 months.
Fuel savings at Shell
All Tangerine cardholders can enjoy fuel discounts and rewards at Shell and with Scene+™ by linking their cards to their Shell Go+ account. Get up to 8¢/L in value with a linked Tangerine Money-Back World Mastercard or Tangerine Money-Back Credit Card:
- Instant savings of 3¢ per litre on all grades of Shell fuel.
- Up to 3¢ per litre in cash back when gas is selected as a 2% category.
- 1¢ per litre in Scene+™ points value on all grades of Shell fuel, or 2¢ per litre in Scene+™ points value on Shell V-Power® fuel when your Scene+™ account is linked to Shell Go+.
- Annual fee
- $0
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$100Total$100Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $100
- Welcome offerAfter $1,000 in 2 months
- Up to $100 cash back
- Ends Nov 30, 2026
Apply Now
on Tangerine's website
Tangerine® Money-Back World Mastercard®*
If you have a personal income of $60,000 or a household income of $80,000, you can choose the Money-Back World Mastercard®* card from Tangerine®.
This credit card has no annual fee and lets you earn cash back on your everyday purchases. With the current offer, you can get $100 when you spend $1,500 in your first three months††.
You get unlimited 2% cash back in 2 categories of your choice and 0.5% on all your other purchases. You can also add a third 2% category when your cash back is deposited into a Tangerine Savings Account.
Choose from 13 spending categories (groceries, gas, restaurants and more) and change them every 90 days to match your spending habits◊.
The card also includes useful protections, including purchase assurance and extended warranty5, as well as mobile device insurance and coverage for rental vehicles5.
Finally, you can transfer high-interest credit card balances and enjoy a promotional rate of 1.95% for 6 months (a 1% transfer fee applies)11.
Fuel savings at Shell
All Tangerine cardholders can enjoy fuel discounts and rewards at Shell and with Scene+™ by linking their cards to their Shell Go+ account. Get up to 8¢/L in value with a linked Tangerine Money-Back World Mastercard or Tangerine Money-Back Credit Card:
- Instant savings of 3¢ per litre on all grades of Shell fuel.
- Up to 3¢ per litre in cash back when gas is selected as a 2% category.
- 1¢ per litre in Scene+™ points value on all grades of Shell fuel, or 2¢ per litre in Scene+™ points value on Shell V-Power® fuel when your Scene+™ account is linked to Shell Go+.
- Annual fee
- $0
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$120Total$120Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $120
- Welcome offerAfter $1,500 in 3 months
- $120 cash back
- Ends Nov 30, 2026
Apply Now
on Tangerine's website
Tangerine World Elite® Mastercard®* Rewards
If you are looking for a credit card that rewards you generously from the start, the Tangerine World Elite Mastercard Rewards card is for you.
This card offers an exceptional welcome bonus: get up to $1,220 in value in the first year*, including 50,000 Scene+ points when you spend $5,000 in the first 3 months* (offer available until January 31, 2027).
But that’s not all. During the year, you can get an extra $100 in Scene+ points (10,000 points) with the Annual Spend Reward by spending $30,000, plus 4 free airport lounge passes through DragonPass, a $291 value. The rest of the $1,220 is the estimated $330 in points earned in the first year on $30,000 in purchases.
When it comes to earning, you get 1.5x more Scene+ points in 3 accelerated earning categories. Choose from 13 categories, including groceries, restaurants, gas, drugstore, furniture and many more, and change them every 90 days to suit your needs*. On all your other purchases, you earn 1 Scene+ point per dollar spent*.
For a Quebec household, those points have a simple outlet: you can redeem them at the checkout at IGA, Rachelle Béry and Les Marchés Tradition, at 1,000 Scene+ points for $10 off your groceries. The 50,000-point welcome bonus is therefore worth $500 in groceries, with no travel catalogue involved.
As a cardholder, you also get access to The Mastercard Collection, a premium global benefits program that includes:
- Access to exclusive dining, entertainment and travel benefits
- Unique Cirque du Soleil perks
- FUBO: $30 off a Sports Quarterly subscription for your first quarter
- H&R Block: 30% off tax return preparation services
- FlexiRoam: Free 3 GB international mobile data plan
Finally, during the first 30 days, transfer your balances and enjoy a preferred rate of just 1.95% for 6 months*. Your purchases are also protected by Purchase Assurance and Extended Warranty*, up to $60,000 over your lifetime.
Fuel savings at Shell
All Tangerine cardholders can enjoy fuel discounts and rewards at Shell and with Scene+™ by linking their cards to their Shell Go+ account. Get up to 10¢/L in value with a linked Tangerine World Elite Mastercard Rewards card:
- Instant savings of 3¢ per litre on all grades of Shell fuel.
- An extra 4¢ per litre when you buy Shell V-Power®.
- Up to 3¢ per litre in Scene+™ points value on your fuel purchases at Shell.
- Annual fee
- $120
- Our valuationMilesopedia first-year estimate First-year valueWelcome bonus$500Total$500Rewards on your spending are not included. The calculator that adds them from your own profile is on the card's page.
- $500
- Welcome offerAfter $5,000 in 3 months
- Up to 50,000 points
- Ends Jan 31, 2027
Apply Now
on Tangerine's website
Other Tangerine products
In addition to bank accounts and credit cards, Tangerine also offers several investment and financing products. You can access investment funds, GICs, mortgages, and lines of credit directly online.
This offering allows customers to consolidate several financial needs in one place without having to use a traditional bank.
Investments
Tangerine offers different solutions for saving and investing according to your investor profile and risk tolerance.
The bank notably offers:
- Core Portfolios;
- Global ETF Portfolios;
- Socially Responsible Portfolios.
These investments are accessible in several types of accounts, including non-registered accounts, TFSA, RRSP, and RRIF.
Investors can choose from different risk levels, ranging from a more conservative portfolio to a growth-oriented portfolio.
Tangerine also offers Guaranteed Investment Certificates (GICs). These investments provide a guaranteed interest rate for a specific period, generally between 90 days and 5 years.
Tangerine GICs are offered in several accounts, including savings accounts, TFSA, RRSP, RRIF, and US Dollar accounts.
Credit Products
Tangerine also offers various financing solutions for homeowners and individuals.
Regarding mortgages, the bank offers fixed-rate and variable-rate loans. Tangerine mortgage products include prepayment options and a rate guarantee for a specific period.
Tangerine also offers a Home Equity Line of Credit (HELOC). This product allows you to borrow using the equity in a property, often at a more favorable interest rate than a credit card.
This type of financing can be used:
- to consolidate debt;
- to finance renovations;
- to cover unexpected expenses;
- to improve cash flow management.
Individuals who are not homeowners can also access a personal line of credit for their current financing needs.
Advantages of Tangerine
Tangerine stands out primarily for its simple and digital approach. The bank targets Canadians who want to reduce their banking fees while maintaining competitive products.
For example, several bank accounts do not impose any monthly fees. Additionally, customers can use Scotiabank ATMs across Canada.
Tangerine credit cards also represent a significant advantage. Depending on the card chosen, you can earn cash back or Scene+ points on your daily purchases.
Finally, the mobile app is user-friendly and easy to use. You can perform the majority of banking operations without visiting a branch.
Disadvantages of Tangerine
Despite its advantages, Tangerine does not suit all user profiles.
First, the bank does not have a traditional branch network. Some people still prefer to meet an advisor in person for their financial needs.
Second, many promotional rates offered on savings accounts are temporary. It is therefore important to check the conditions before opening an account.
Finally, some Tangerine credit cards require a minimum income. This can limit access to certain more advantageous products.
Tangerine Compared to Other Banks
Tangerine is among the most popular online banks in Canada. However, several financial institutions also offer competitive products depending on your needs and user profile.
Before choosing a bank, it remains important to compare fees, rewards, interest rates, and features offered.
Banking Accounts
The Tangerine Chequing Account remains one of the most interesting no-fee accounts in Canada. It charges no monthly fees and imposes no minimum balance to maintain.
Additionally, several common operations are free, including Interac e-Transfers and withdrawals at Scotiabank ATMs in Canada.
However, other online banks also offer advantageous accounts with similar features or competitive promotional rates.
To compare more options, also consult our chequing account comparison tool.
Savings
The Tangerine Savings Account often attracts new customers thanks to their bonus rate promotions.
However, these promotions are generally temporary. It can therefore be useful to regularly compare the rates offered by other online banks in Canada.
Some institutions offer higher rates in the long term, while others focus more on flexibility or registered products.
To discover other options, also use our savings account comparison tool.
Credit Cards
Tangerine credit cards are among the most popular no-annual-fee cards in Canada.
For example, the Tangerine Money-Back®* Credit Card® allows you to earn cash back in several categories chosen according to your spending habits. For its part, the Tangerine World Elite®* Mastercard® now allows you to earn Scene+ points.
Tangerine therefore offers more flexibility than before, both for cash back enthusiasts and for users who prefer travel or entertainment rewards.
Nevertheless, several other no-annual-fee cards remain very competitive depending on your financial goals and spending profile.
| Credit card | Annual fee | Welcome offer | |
|---|---|---|---|
| $0 | |||
| $0 | |||
| $0 | |||
| $0 | |||
| $0 | |||
| $0 | |||
| $0 | |||
| $0 | |||
| $120 |
To compare more cards according to your needs, use our credit card comparison tool.
Investing
Tangerine investment products may be suitable for investors looking for a simple and accessible solution.
The bank offers several portfolios adapted to different risk profiles, including mutual funds, ETFs, and socially responsible options.
Management fees generally remain lower than those of many traditional mutual funds offered by major Canadian banks.
However, self-directed investors can often obtain even lower fees with index ETFs purchased on an online brokerage platform.
In return, these solutions generally require more autonomy and investment knowledge.
Is Tangerine a good bank?
Tangerine remains an excellent option if you want to reduce your banking fees and manage your finances entirely online.
This bank may be particularly suitable for:
- travelers who want to limit fees;
- users looking for a no-annual-fee credit card;
- individuals who wish to simplify their banking operations;
- customers who prioritize digital services.
On the other hand, Tangerine might be less suitable if you often use in-branch services or if you are looking for personalized financial advice.
For many Canadians, Tangerine therefore represents a good compromise between simplicity, flexibility, and savings.
Our Review of Tangerine
Tangerine remains one of the most interesting online banks in Canada for reducing banking fees. Its offering is simple, accessible, and adapted to several user profiles.
The bank now offers more choice than before. In addition to cash back, certain cards now allow you to earn Scene+ points on daily purchases.
We particularly appreciate:
- the absence of monthly fees;
- the simplicity of the mobile app;
- the customizable cash back categories;
- access to Scotiabank ATMs;
- frequent promotions on savings accounts.
However, as with any online bank, it remains important to compare products according to your actual needs before opening an account.
Conclusion
Tangerine continues to hold an important place among online banks in Canada. Its no-fee accounts, credit cards, and simple digital experience make it an interesting option for many Canadians.
If you are looking for a flexible banking solution with low fees and attractive rewards, Tangerine certainly deserves your attention.
To compare the Tangerine chequing account with other no-fee options, check out our selection of the best chequing account offers this month.
Tangerine Review – FAQ
Is Tangerine a real bank?
Yes. Tangerine is a Canadian bank owned by Scotiabank.
Can you withdraw money for free with Tangerine?
Yes. Customers can use Scotiabank ATMs without fees across Canada.
Does Tangerine offer Scene+ points?
Yes. The Tangerine World Elite®* Mastercard® allows you to earn Scene+ points.
Do Tangerine accounts have monthly fees?
The majority of Tangerine bank accounts do not charge monthly fees.
Is Tangerine better than a traditional bank?
Tangerine is often more advantageous for fees and simplicity, but it offers fewer in-branch services.
Can you open a Tangerine account easily?
Yes. Opening an account is done entirely online in a few minutes.
Which Tangerine credit card should I choose?
It depends on your spending and your goals: cash back or Scene+ points.
