A favourite bank among Canadians is Tangerine.
With super low fees, and the ease of getting cash at any Scotiabank, it’s not hard to see why.
And a new feature is here – an upgrade to the standard debit cards.
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Tangerine bank accounts now have Visa Debit cards
Tangerine is now offering Visa Debit cards.
And while they have Visa logos on them, they largely function the same way as a regular debit card. When withdrawing money from an ATM, you won’t see any differences.
And if you’re making a purchase in a store, they work exactly the same – insert your card, select your account you want to draw the funds from, and enter in a PIN.
But a Tangerine Visa Debit card does a few things regular debit cards don’t. You can use your card for shopping outside of Canada – you’ll be subject to Tangerine’s foreign transaction fees, which is 2.5% of the total transaction (the same as most credit cards).
And you can use them online. Many retailers accept Visa Debit cards for online purchases, allowing you to use a debit card to make your payments.
You can learn more about what Visa Debit has to offer here.
Existing Tangerine customers
Existing Tangerine customer? You won’t get a Tangerine Visa Debit card automatically, you’ll have to request a new card.
Your existing debit card will continue to work just fine, so it’s up to you to decide if you want the extra features a Visa Debit card offers.
Want more details on the change? Tangerine has an FAQ with more answers to questions you may have about these new debit cards.
Tangerine Mastercards
One thing this new Visa Debit won’t give you – rewards on purchases.
But if you already have a Tangerine bank account, Tangerine Mastercards make for a great addition to your wallet.
Why? It’s all in the rewards. With a Tangerine credit card, you normally only get to choose 2 categories to earn 2% cash back in. If you get your rewards deposited into a Tangerine savings account, you’ll get to choose 3 categories to earn 2% cash back in.
What categories are there you ask? There’s 10 of them, some of which are quite unique:
You’ll earn 0.5% cash back on your other purchases.
And unlike most cash back credit cards that only pay out rewards once per year, Tangerine pays them out monthly.
What credit cards earn these rewards? Tangerine offers 2 levels of their Mastercard, both of which have no annual fee.
×2 Award winner 
GC: $75
2x Award winner
$75 GeniusCash + Up to $100 bonus cash back** + No annual fee.*
The entry level card is the
The
In addition to the above, it also offers:
- rental car insurance,
- mobile device coverage, and
- membership in Mastercard Airport Experiences (each visit costs US$32).
It has high personal income requirements of either $60,000 personal or $100,000 household. But if you qualify, there’s no reason not to get this card.
Your turn
There’s no downside to Tangerine offering Visa Debit cards. There’s no extra cost to you, and you get a few extra benefits.
Have a Tangerine bank account already?
Are you going to ask for a new debit card?
Let us know in the comments below.
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