Tangerine review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Tangerine suits Canadian savers who want a high variable rate with nothing to pay and nothing to deposit. The easy-access account pays 4.5% with a monthly fee of CAD 0, and the minimum deposit of CAD 0 keeps the door open for a first balance.
Key facts
- Best for
- Saving in Canada without a monthly fee or a minimum deposit
- Headline rate
- 4.5%↗
- Rate type
- Variable↗
- Minimum deposit
- CA$0↗
- Access terms
- Funds accessible on demand, no notice period; interest calculated daily and paid monthly↗
- Monthly fee
- CA$0↗
- Account kind
- Easy access↗
- Legal entity
- Tangerine Bank↗
- Headquarters
- Canada↗
- Founded
- 1997↗
- Support channels
- Email, Chat, Phone, Help-centre↗
- Pricing model
- No monthly fee
- Official website
- tangerine.ca
Everyday accounts
- Currency conversion fee
- 2.5%↗
- Free ATM withdrawals
- CA$0↗
- Transfer fee
- Interac e-Transfer free↗
- Audience
- Business, Students, Teens
- Features
- Free ATM withdrawals, Joint account
Facts checked September 26, 2026, 5 sources
Apps and profiles
- Get the app
- App StoreGoogle Play
Pros and cons
Pros
- Headline rate of 4.5% on a variable rate, above the savings account median of 3.08%
- No monthly account charge, with a monthly fee of CAD 0
- Nothing to open with, minimum deposit of CAD 0
- Interest is calculated daily and paid monthly, with funds accessible on demand
Cons
- Currency conversion costs 2.5% on a card purchase, so card spending abroad is pricey
- The rate is variable, so 4.5% can move rather than being locked in
- A Canadian bank, so the account is aimed at Canadian savers only
Who it suits
- Canadian adults who want a high variable rate with no monthly charge
- Students and teens banking in Canada, who are listed as an audience
- Business owners keeping spare cash in an easy-access account
Who should look elsewhere
- People who need a rate locked in for a set term
- Travellers who spend abroad often and would pay 2.5% in conversion
- Readers outside Canada, since Tangerine is a Canadian bank
Fees and currency costs
There is no monthly account charge: the monthly fee is CAD 0 and the ATM allowance is CAD 0, so cash withdrawals do not cost extra either. The account opens with a minimum deposit of CAD 0, which means a first balance can be as small as someone wants it. Interac e-Transfer transfers are free, and Interac e-Transfer free covers the common way to move money in. The one cost to watch is card spending in other currencies, where the conversion fee is 2.5%.
How Tangerine compares
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Where Tangerine is available
- Available
- Canada
- Licence in Canada
- Canada Deposit Insurance Corporation, checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does Tangerine pay on its savings account?+
The headline rate is 4.5% and the rate type is variable, so the figure can change. The account kind is easy access, which means money comes out on demand with no notice period. Interest is calculated daily and added to the balance monthly.
Is there a monthly fee or minimum deposit?+
The monthly fee is CAD 0 and the minimum deposit is CAD 0. Both stand at nothing, so the account can be opened and kept without a regular charge. ATM withdrawals sit within an allowance of CAD 0.
How is the money protected?+
Tangerine is a Canadian bank, regulated in Canada by the Canada Deposit Insurance Corporation. The protection scheme covers eligible deposits held with the bank. It is a bank licence rather than an e-money or payment institution licence.
Can I withdraw money whenever I want?+
Yes. The account is an easy-access account, and funds are accessible on demand with no notice period. That suits anyone keeping an emergency buffer rather than tying the money away for a set term.
What does it cost to use a card abroad?+
The currency conversion fee is 2.5%, which is a large share of a foreign purchase. Spending or withdrawing outside Canada is therefore costly, and it makes this a poor fit for frequent travellers. Home spending in Canada avoids the conversion charge.
How do I move money in and out?+
Interac e-Transfer transfers are free, and Interac e-Transfer free is the stated cost for that route. With a monthly fee of CAD 0 there is no account charge to offset against transfers. Funds can be taken out on demand whenever needed.
Who is this account built for?+
The listed audiences are business, student and teen, so it covers a range of Canadian customers. Support runs through email, chat and phone, giving help by chat, email, phone and a help centre. It suits anyone starting to save rather than an established investor.
Does the account pay interest monthly?+
Interest is calculated daily and credited monthly, so the balance grows steadily rather than at a single payment each year. The rate is variable, which means the 4.5% headline rate is a current figure and can move.
Sources
- tangerine.ca checked September 26, 2026
Backs: Audience
“Business Savings Account ... Children's Savings Account”
- tangerine.ca/en/about-us checked September 26, 2026
Backs: Founded, Legal entity, Licences
“Canada's original digital bank. Keeping you moving toward your goals has been our focus since 1997.”
- tangerine.ca/en/help-centre/contact-us checked September 26, 2026
Backs: Headquarters, Support channels
“3389 Steeles Avenue East Toronto, Ontario M2H 0A1 Institution #614”
- tangerine.ca/en/legal/fee-schedule/bank-fee-schedule checked September 26, 2026
Backs: Free ATM withdrawals, Features, Currency conversion fee, Transfer fee
“ABM Withdrawals (using a Scotiabank or Global ATM Alliance ABM) FREE”
- tangerine.ca/en/offers/savings-account-promo checked September 26, 2026
Backs: Headline rate, Rate type
“You'll get your 4.50% rate on up to $1,000,000 (in the currency of the Eligible Savings Account) for each Eligible Savings Account Type.”
- tangerine.ca/en/personal/save/savings-account checked September 26, 2026
Backs: Access terms, Account kind, Minimum deposit, Pricing model, Monthly fee
“Funds are accessible, making them a good option for things like emergency funds”
Compiled from 6 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term, Deposit protection.