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Tangerine is best known for “Forward Banking”. They make sure that Canadians don’t have to add their banking needs to their ever growing list of everyday worries. Unlike traditional banks, Tangerine does not have a physical banking office. Also unlike traditional banks, Tangerine pays more interest to their clients without the high fees, making it easier for Canadians to manage their savings.
Tangerine was launched in April 1997 and was originally named ING DIRECT CANADA. At the time, Canadians had no choice but to comply with the big banks’ high fees and low interest. ING DIRECT CANADA offered an alternative to this banking system with a safe, secure, innovative and more direct banking experience. Because of this, ING DIRECT CANADA quickly became the leading bank in Canada.
Scotiabank acquired ING Bank of Canada from ING Groep (Netherlands) in 2012.This then prompted a name change. ING DIRECT CANADA’s unique banking style called for a name that suited what they were about, and thus Tangerine was born.