![]() ![]() The card that comes along with Tangerine Chequing is a Visa debit card. You'd only need to wire money from your Tangerine account, via Wise, to your beneficiary abroad. We personally recommend Wise for this, which was the cheapest money transfer service from Canada on average on 40% of searches on in 2021. While this may sound limiting, if you're looking to save money and don't mind using Tangerine in conjunction with a third-party money transfer app, then you can always use an alternative provider to send money internationally much more cheaply than you would with a traditional Canadian bank. What's more, Tangerine doesn't support international money transfers. However, while Tangerine Chequing will probably suit you just fine if you're looking for banking core functionality and have minimal banking needs, the account doesn't yet support deposits made via debit and credit cards, which means you'll not be able to receive card payments into your account at all. Overdraft protection: Avoid declined transactions or Non-Sufficient Funds (NSF) fees if there's a shortfall in your account balance.Drafts & cheques: Make use of draft delivery and chequebooks.Interest: Annual rate of between 0.01% and 0.10%.Bank transfers: Send and receive wires and Interac e-Transfers.Debit card: Use a Visa debit card to make cashless payments and withdraw money (more on this later).Direct debits: Set up bill or pre-authorized payments where money is automatically deducted from (or deposited into) your account.Deposit processing: Deposit money into your bank account electronically or via cheque.In short, Tangerine Chequing gives you access to the following: This means that the accounts are functionally the same as chequing accounts at traditional banks but for a fraction of the price. Better yet, the account is free of monthly fees and is a fully-fledged chequing account held in deposit by Scotiabank. Tangerine's standard chequing account package is called the No-Fee Daily Chequing Account and is a capable personal bank account that comes packed with features. The card can take up to two weeks to arrive. ![]() Credit and debit card deposits aren't possible.A 2.50% currency conversion fee (far higher than many alternatives). ![]()
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