Free banks vs Bank fees (Canada)

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  • ℹ️ Description
Free banks vs Bank fees (Canada) 4.5

EDIT: When we were making this video, Tangerine used to charge for e-transfers. As of now, Tangerine has stopped charging for e-transfers just like Simplii. There are also a couple other benefits to Tangerine like minimal FX fees on certain for certain ATM withdrawals which we never mentioned. Overall, you can't go wrong with both. ALSO, we request that people please stop spamming their Tangerine codes. We hope people apply through our codes (linked below) as we consider it a nice little bonus for working hard on these videos


Learn how free banking works in Canada. We go in detail to cover the differences between the two largest free online banks available to Canadians, Tangerine and Simplii. We compare important daily banking features like:

• Chequing accounts
• Savings accounts
• E-transfers
• ATM/ABM availability
• Ordering Cheques

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Thinking of starting a Tangerine account and want $50 for free? Use our Orange Keys:

40244275S1 or 48119960S1

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💬 Comments on the video

Thanks so much for putting out content for Canadians! Video helped a lot

Author — Gabrielle Williams


I find Tangerine is better.... why? because money is instantly transferred from saving to chequing. it also comes with a good CC 2% cash back for 3 categories. These are all the things Simplii maybe working on and may have now improved on. but here is what really distinguishes Tangerine over Simply.

it has 0% FX withdraw in foreign country ATM with a small fee of $2 charge. It has THREE EFT available which means i can transfer my money to 3 linked account that also has USD Dollars. Overall both banks are great u cant go wrong with one over the other but there are small difference that can be a deciding factor, for me Tangerine is a better system for me.

Author — Takashi


Love your contents! Great job and thank you for talking about financial banking and investing for Canadians. Looking forward to all your new videos! Keep up the great work

Author — Terry Ing


Awesome video! Delivered everything I needed to help me make my decision. Thanks!

Author — Kirin Nguyen


Great video guys! We just opened up a savings account with EQ and just shared a video breakdown of different high-interest savings accounts in 2020! Looking forward to the comeback ✨

Author — Steph & Den


On My Financial Goals, good job. Together we are strong :) :)

Author — Raimondas Marciulevičius


I signed up with simplii and got an email I will get a card in the mail and it's free.

Author — Rachelle


Excellent review. Do you know if there's a limit on how many accounts I can open?

Author — Muhannad Gh


Love my free Simplii and Tangerine accounts. For sure the way to go!

Author — Raging Ambush


thank you so much for putting the effort. I support your channel so you feel motivated to post more. I rarely see Canadians uploading videos.

Author — All about that base


Tangerine eTransfer is now Free !! It pretty much beats any big banks lol

Author — Sarada Uchiha


wish they had Business banking !! I would switch over for sure

Author — Chuck Guest


thx for the explanation... just wonder if :
Is it only for Canadians..?
We must be resident in Canada to open an account?

Author — Dreamer Land


Of the major banks I wonder how the RBC is in relation to the other ones. I never worked in the financial sector prior to a job I once had with Royal and knew what I liked and did not like about them. Many people who worked at the RBC had never used another bank or never knew what the others were up to. I found them not likely to know what other banks were like. I never had an RBC account until I had that job and was forced by them to open one though never used them before although I was allowed to continue using PC and TD and Scotia which I knew and used before. I never actually used the RBC account much otherwise. With other banks I find customers have floated more. I may be wrong although I would like someone to compare?

Author — JB 6000


Hah! all this time Bank of Montreal was charging me $3.00 Different Bank ATM fee + $2.00 service fee, limiting my amount of cash back withdrawal transactions to 5 ~ 10 a month (or $6.00 fee) LOL! I was approved for a Tangerine Credit Card a week ago and just recieved it in the mail, as I activated it on the site I noticed an ad about the "No-Fee Daily Chequing". how would you set up a direct deposit to an account like that? Does Scotiabank act as a Tangerine bank as well? or is it just the ATM machines?

Author — Similak Child


under a forced switch from pc (which i was with since 2002) to simplii, i have noticed no difference, and will never pay bank fees. for face to face and cheques and large things I use one of my three lines of credit which also carry no cost, have debit (credit) cards, and free cheques.. why would i ever pay bank fees??

Author — 666dynomax


money in savings is impossible to withdrawl from an atm. pc financial robbed people and changed there name to simplii

Author — Born Blazed


Simplii doesn't support account nicknames (e.g. My Bills Account, Petty Cash etc)

Author — Michael Pasek


Thanks but kindly use microphones wired to your camera because your voices are low.

Author — Nebal Anaim


Tangerine Interac eTransfers are free now! Yessss.

Author — Hyde Takarai