Tangerine No-Fee Daily Chequing Account

Overview

Tangerine's account includes unlimited supported everyday transactions, Interac e-Transfers, cheque support, and access to supported Scotiabank ATMs.

Supported Scotiabank and Global ATM Alliance withdrawals avoid network fees, subject to geographic exclusions. Other Canadian withdrawals cost $1.50, other US or international withdrawals cost $3, and foreign conversion can add 2.5%.

The first book of 50 cheques is free and later books cost $50. Joint chequing accounts support up to two clients and are arranged by phone.

Tangerine is owned by Scotiabank but remains a separate CDIC member, which matters when determining how eligible deposits are grouped for coverage.

Tangerine does not send or receive wire transfers. Its chequing interest is also low: current marginal annual tiers range from 0.01% to 0.10%, with the $500,000-and-over tier returning to 0.01%.

Features and access

Monthly fees and transactions

Monthly fee: $0The normal recurring monthly fee is $0.
Monthly transactions: UnlimitedUnlimited debit purchases, bill payments, and pre-authorized transactions.

Transfers

Monthly Interac e-Transfers: UnlimitedNo fee to send; amount limits apply and Autodeposit is supported.

Card and payments

Payment card: YesTangerine Client Card with Interac and Visa Debit functionality.

Cash and branch access

Cash deposits: Scotiabank branch ABMsPhysical Canadian banknotes can be deposited free at designated Scotiabank branch ABMs. Scotiabank's envelope-free machines reject coins and foreign currency, machine limits vary by model, and Tangerine may verify, adjust, or hold ABM deposits.
Cash withdrawals: Scotiabank + alliance ABMsSupported Scotiabank and Global ATM Alliance withdrawals avoid Tangerine and alliance-member surcharges, subject to exclusions. Other Canadian withdrawals cost $1.50 and other US or international withdrawals cost $3, plus possible operator and foreign-exchange fees.
Branch access: NoTangerine is primarily a digital bank without a conventional retail branch network.

Cheques and ownership

Cheque writing: YesThe first book of 50 cheques is free; subsequent books cost $50.
Cheque deposits: YesMobile Remote Deposit accepts eligible Canadian-currency cheques drawn on Canadian financial institutions.
Joint account: YesJoint chequing accounts support up to two holders.

Interest

Interest rate: 0.01%–0.1%Marginal annual tiers are 0.01% below $50,000, 0.05% from $50,000, 0.10% from $100,000, and 0.01% from $500,000; calculated daily and paid monthly.

Deposit protection

Tangerine Bank is a CDIC member separate from Scotiabank; eligible deposits receive coverage under applicable categories and limits.