Earn up to $350 by switching your day to day banking

You may have already heard about the day to day banking services offered by Tangerine since the bank was created back in 1997 with the name “ING Direct”. In just a few years, the bank experienced a significant growth, which drew attention to potential buyers. In 2012, Scotiabank acquired the bank and renamed it to Tangerine, creating the concept of forward banking.

I was a client of Scotiabank, but became intrigued with this idea of forward banking. Then I learned that Tangerine does not have any branches, therefore they have very low operational costs. The beauty of this is that these low costs are transferred to the consumers as the bank has almost no day to day banking fees. For instance, whenever I need to withdrawal money, I have free access to the entire Scotiabank ABM Network, even outside of Canada. I have used it in Mexico and Peru during my winter escape trips and it always worked well. They also pay a more interest on your investments when compared to big banks, which also adds up in the long-term.

Cheques can be deposited using their app and money transfers are done for free by email to other Tangerine customers. I really like the email transfer for free since in my previous bank I had to get the bank account number and full name of my friends when I wanted to avoid the $1 Interac fee, which was annoying.

Although Tangerine does not have branches, they operate some cool locations called Tangerine Cafés in downtown Toronto, Vancouver, Montreal, and Calgary. These cafés are basically used by customers who need specific financial advice on investments or loans, or if you need to withdrawal USD.

Okay, we all enjoy no/low fees from Tangerine day to day banking, but the best deal is when you sign up. Anyone can make up to $350 just to sign up, so I will tell you how you can do the same…

First of all, they’re offering a promotion for new customers until January 31st, 2017. Basically, they’re giving away $50 to anyone who opens an account with a referral code named Orange Key. It’s simple, when a client refers a someone to the bank they both earn $50. If you’re interested in opening an account, you can use my Orange Key 42032572S1 to unlock your $50 bonus by following just 4 steps:

  1. Go to www.tangerine.ca and click on “Sign me up”;
  2. Pick the type of account you want and click “Enroll now”;
  3. Fill in the form with your information. Don’t forget to enter the Orange Key 42032572S1 to be able to get your $50 bonus;
  4. Activate your account by making a $100 deposit on your own Tangerine Account and get your $50 credit!

But what about the other $300? After you have opened your account, you just need to set up a pre-authorized debit payment such as a telephone bill and they’ll give you another $100, easy peasy.

And there is $200 more waiting for you! Now that you are a Tangerine customer, you will have an Orange Key for yourself to invite others too. If you are married or have a partner of any kind, just send them your Orange Key and when they open their account you both win $50 more ($100 in total).

With that, you can set a pre-authorized debit in your partner’s account too, so it is $100 more, almost effortlessly!

Tangerine Orange Key 42032572S1 (Day to Day Banking)

But what if you don’t like banking with Tangerine after all? Although I believe you will like them, you can simply close your account and withdrawal all the money with you, with no costs attached.

Is it really safe? I still have doubts…” Tangerine is a leading direct bank in Canada, owned by Scotiabank, one of the biggest economic companies in the country. It is also regulated and guaranteed by CDIC (Canada Deposit Insurance Corporation).

I hope I’ve helped you understand the benefits of day to day banking with Tangerine and I’m sure it will help you on your journey to reach your financial goals. If you want more information, you can also watch the following official video from their CEO:

 Tangerine Orange Key 42032572S1 (Day to Day Banking)

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