FinTech Profile: Canadian challenger bank Tangerine

By Amber Donovan-Stevens
FinTech magazine continues to run profiles on the most prominent challenger banks of 2019. Here, we take a look at Canadian challenger bank, Tangerine...

Tangerine can be integrated with Apple Pay, Google Pay, and Samsung Pay

FinTech magazine continues to run profiles on the most prominent challenger banks of 2019. Here, we take a look at Canadian challenger bank, Tangerine. 

History 

Tangerine Bank, a subsidiary of ScotiaBank (the third-largest financial institution in Canada), was acquired in 2012, making it one of the oldest digital banks to reach prominence in the last few years. With the backing of a larger bank, Tangerine offers users a wider range of services than the traditionally specialised offerings from independent banks. 

Five key features of Tangerine:

 

  1. Smooth wallet integration: Tangerine Client Card and Money-Back Credit Card can be added to a customer’s  Apple Pay, Google Pay, and Samsung Pay mobile wallets to be used where contactless payments are accepted.

  2. High interest savings and free chequing: Tangerine's savings account comes in several variations: a regular savings account, RRSP and TFSA versions, RIF accounts and a US$ account. Its Chequing account offers interest from the first dollar submitted into the account onwards.

  3. Easy deposit of cheques: Instead of going to a bank, cheques can be submitted by taking a picture within the section on the app called “Cheque-in”.

  4. Access to ABM: Tangerine clients receive free access to Scotiabank's 3,500+ location ABM network. The Tangerine website also provides a search engine on where to find these locations. 

SEE MORE:

  1. MoneyBack credit card: This credit card offers 2% back on two of the following categories: groceries, dining, furniture, accommodation, fuel, medication, recurring bills, entertainment and transport. 

It should be noted that Tangerine takes a fee of $1 for e-transactions, while many other companies such as Monzo, Starling and N26 do not. 

Did you know? 
Tangerine has cafe locations across Canada in Downtown Toronto, Toronto North, Vancouver, Montreal and Calgary, where customers can go and speak to specialists with any queries or issues.

For more information on all topics for FinTech, please take a look at the latest edition of FinTech magazine.

Follow us on LinkedIn and Twitter.

Share

Featured Articles

Bitcoin Reclaims US$1tn Valuation; the Bull Market is Here

Bitcoin, the world’s largest cryptocurrency, has hit the US$1tn valuation mark again after the cost of one Bitcoin jumped 22% to US$52,005

COMING SOON: Top 100 Women in FinTech 2024

This March in honour of International Women’s Day, FinTech Magazine will release its annual Top 100 Women supplement

FinTech LIVE Dubai: Linoy Kidd, CIO at HSBC

Linoy Kidd, CIO (Markets & Securities Services MENAT) at HSBC to speak at FinTech LIVE Dubai

NASDAQ: Banks Need Fintech Trust to Combat US$3tn in Fraud

Fraud & ID Verification

Wix’s Omer Shatzky to speak at FinTech LIVE Dubai

Digital Payments

Ramesh Narayanaswamy (CTO) to attend FinTech LIVE Singapore

Tech & AI