Tangerine Canada (formerly ING Direct) is offering up to $120 for free when you sign up for a new Chequing Account and switch over your pay to deposit directly into it.
You will receive your $120 bonus over a longer period of time so this is not a get rich quick scheme. Once you sign up for the chequing account and transfer over your pay, Tangerine will deposit $10 into your account every Friday for twelve consecutive Fridays. However, to qualify your must:
- Open a new chequing account before the 31st of August
- Have your first payroll direct deposit received in your new account by the 31st of October
- Continue to receive payroll direct deposits each calendar month for three consecutive months
If you follow all the steps properly, then you will be paid the $10 bonus deposits every Friday beginning on the first Friday of the following month. Tangerine is good about giving out their bonuses to those who meet their requirements. I recently transferred banks from TD Trust to Tangerine because my student offers with TD expire at the end of August. TD really does not have any good no-fee bank accounts, and I do not like to hold large sums of money in a chequing account just to receive no fees. I switched over to Tangerine during the last promotion I blogged about, and I receive the bonus $50 for a new Savings Account and a bonus $50 for a new Chequing Account. Overall, Tangerine gave me $100 just for making the switch.
I love Tangerine so far. They make it easy to change over your banking information. You can get a PDF version (or print off) a void cheque, which has all the bank information at the bottom that you need to transfer over your pay or direct deposits. I was just transferring over some of my direct deposits this morning. I also really like that my chequing account gives me interest. I deposited some money in there and then forgot to transfer it to my savings account. However, I still earned some interest on the balance. I can also bank at like 15 branches in my city, including free withdrawals at a 7-Eleven one block away. So far Tangerine has been convenient and in my best financial interest.
I would recommend Tangerine if you hate bank fees and like free money.
Image Credit: Pascal Maramis
(Expiry: 31st August 2014)