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%.