Tangerine

Include Tangerine when Canadians search ‘online bank.’ It is a digital bank, not a fintech wrapper.

Tangerine is the former ING Direct Canada, owned by Scotiabank. It is a CDIC member Schedule I bank. We list it because the search intent overlaps neobanks even though the parent is a Big Five bank.

Tangerine lists Schedule I bank under OSFI in Canada. On safeguarding we currently write: CDIC up to $100,000 per category. Holder / issuer line: Tangerine Bank. An AML programme is claimed. There is no IBAN-class local rail on the flags we store. We list 1 live markets on the product. As we score the sticker: monthly No monthly on core chequing (conditions apply); FX Retail FX — not Wise; ATM Scotiabank ATM network; interest Savings accounts with promotional rates. This desk would open it for: Canadians who want a no-branch bank that is actually a bank.

What it does well: CDIC member; Big-bank parent; Savings rates. What to watch: Not a startup; FX is ordinary; App is fine, not Monzo. Desk score 7.1 / 10 (safety 9.0, fees 7.8, features 6.8, app 7.2). Last verified 2026-08-01. Headquartered in Toronto, Canada; founded 1997. None of this is advice — it is a file so you can read the entity before the card colour.