It’s never a good idea to pass on a good deal. With the right discount, promo code, or a limited-time offer, you can save yourself anything, from a few bucks to a decent sum that you can put towards an expense or set aside for a rainy day.
If we play fast and loose with the definition of earnings, discounts are essentially a way of “creating” a little bit of additional income without doing anything, i.e., by saving the amount you were going to spend anyway.
And if you are opening your first Tangerine account, Tangerine promo codes might be reason enough to consider this premier online bank.
What Are Tangerine Promo Codes?
A Tangerine promo code is a simple alphanumeric code that you can enter when you are signing up for a Tangerine bank account or financial product and activate a unique promotional offer (like cashback or limited-time interest rates).
The definition of “promo codes” can usually be extended to include the discounts and promotional offers and rates Tangerine offers, since promo code is simply a way to unlock an offer (if you follow all the directions and stick to the requirements).
There are two main sign-up offers, one of which is a Tangerine promo code that the online bank is currently offering.
The Tangerine’s “Earn 200” Promo Code
If you are a new customer and signing up for Tangerine for the first time, you can enter the promo code EARNMORE at the sign-up window and enjoy two different benefits.
The first is a chance to earn a $200 cash bonus, and to do that, you have to:
- Add your payroll to your Tangerine Chequing Account and receive one month’s salary in that account within the first 60 days of opening it.
- Receive three month’s consecutive pay in your Tangerine chequing account.
- Open an account without being referred by an existing client/a friend (the Orange Key referral program). That’s a separate promotional offer, and the two don’t combine.
After you receive your third month’s pay, you’ll receive a $200 sign-up bonus. This is in line with one of Tangerine’s main competitors (Simplii) and better than most of the promo codes and promotions the big five are offering because they are all on paid accounts and the monthly fee might counter-act or even undermine the bonus amount.
The second benefit of using the EARNMORE Tangerine promo code is that you get a 2% interest rate on all the money in your Savings Account (not on your chequing account funds) for five months from the date you open that account.
So in order to draw out the maximum benefit of the promo code, you’ll have to open both a savings and a chequing account: One for a high interest rate and another for a cash bonus.
The good news is that this offer is eligible for more than one savings account, and you can avail of this promotional interest rate on all of them at once. So, if you open a simple savings account and an RRSP account (eligible), you will get the 2% interest rate for the first five months on both of them.
For example, if you open Tangerine savings account using the promo code and transfer $50,000 to it right away (because your 2% interest rate would apply from the very first day), you can earn a bit over $400 in about five months, before the promotional rate expires.
10% Cash Back (For The First Two Months)
Another sign-up offer that exists independent of the Tangerine promo code is related to one of the two credit cards it offers, i.e., the Tangerine World Mastercard. If you spend up to $1,000 in the first two months on everyday expenses, you’ll earn a 10% cashback.
That offer is capped at 10% of $1,000, so you’ll earn $100 max, no matter how much you spend in the first two months.
What Is An Orange Key In Tangerine?
The “Orange Key” is a different kind of Tangerine promo code, essentially because it’s not a promo code at all. It’s a referral code/program, and it’s for both new sign-ups and existing members who can refer their friends and family.
For new customers, that haven’t opened an account with Tangerine ever, if you use the Orange Key generated and offered by an existing Tangerine customer (most likely your friend or family), you’ll get a $50 bonus, if:
- You sign up for a Tangerine account using a valid “Friend Orange Key”
- Deposit $250 to your Tangerine account within the first 60 days of opening the account
- Maintain a sum of $250 or more for 60 consecutive days from the date of the deposit (NOT the date you opened the account)
Existing customers can earn a $50 referral bonus for any three friends or family members they refer each year who complete all the steps stated above and are eligible to earn their own $50 bonus. The three-referrals-a-year quota is renewed on the first day of each year, and it doesn’t carry forward.
For Orange key referral bonuses, the clients (both new and existing) can end up waiting anywhere between three and five months to receive the bonus.
How Do I Get A Promo Code For Tangerine?
There are two ways of getting a promo code for Tangerine:
Official Promo Code
The official promo code that the bank offers to most or all new eligible Tangerine clients is available on the official website for the online bank. Get the code and follow the directions to become eligible for the offer associated with the promo code, and you are good to go.
It’s significantly better to follow the directions present in the original source rather than chasing down second-hand sources because you have to do it right the first time. Once you do become a Tangerine member, you won’t be able to take advantage of the new sign-up promo code benefits.
The Orange Key Promo Codes
If you have a friend or a family member, you can ask them to generate and share an Orange key with you so you can sign up and earn a $50 bonus (if you follow the directions). Unless they’ve already exhausted their three-referrals-a-year quota, that would be the best deal for both of you.
Another source of these referral Tangerine promo codes is the promo code/discount websites like Retailmenot.ca or Dontpayfull.com. Several people post their Orange key on these websites so that new users can get a $50 discount.
And thanks to the new users who’ve used their Orange key to sign up and get the bonus by following all the directions, these people get the referral bonus as well.
We hope this article clears any confusion you might have about the Tangerine promo code and gives you a good idea of how to take advantage of these promo codes.
If you don’t want to link your payroll to Tangerine’s chequing account, the Orange key referral might be your best option. Otherwise, the $200 promo code is definitely worth getting.