Tangerine.ca Review

Based on checking the website Tangerine.ca, it primarily operates within the financial sector, offering a wide array of banking services to Canadians. However, a significant portion of its offerings, particularly those involving interest (Riba), render it impermissible from an Islamic perspective. The platform focuses heavily on traditional banking models that include interest-bearing savings accounts, Guaranteed Investment Certificates (GICs), mortgages, and credit cards, all of which fall under the category of Riba. Engaging in such transactions is explicitly forbidden in Islamic finance due to its exploitative nature and the promotion of unjust wealth accumulation. While Tangerine.ca presents itself as a legitimate financial institution with various awards and a large client base, the fundamental principle of interest makes it unsuitable for Muslims seeking to adhere to Islamic financial guidelines.

Here’s an overall review summary:

• Website Legitimacy: Appears legitimate with clear information, awards, and a large client base.
• Ethical Consideration (Islamic Finance): Largely impermissible due to widespread use of interest (Riba) in its products (savings accounts, GICs, credit cards, mortgages, loans).
• Transparency: Rates and terms are clearly stated, albeit for interest-based products.
• User Experience: The website is well-organized, with clear navigation and helpful resources like a learning centre and FAQs.
• Security: Claims strong security features and tips for client protection.
• Accessibility: Offers mobile banking app with high ratings and digital sign-up options.
• Overall Recommendation: Not recommended for Muslims due to pervasive interest-based financial products.

For those looking to manage their finances ethically and avoid interest, there are numerous alternative products and services that align with Islamic principles. These alternatives focus on profit-sharing, asset-backed financing, and ethical investments, ensuring that financial transactions are fair, transparent, and contribute to societal well-being without relying on Riba.

Here are some ethical alternatives for financial management that are permissible in Islam:

• Wealthsimple Invest

  

  • Key Features: Robo-advisor for automated investing, offers Halal-friendly portfolios (using Sharia-compliant ETFs), socially responsible investing options, commission-free trading.
  • Average Price: Management fees typically range from 0.4% to 0.5% of assets under management.
  • Pros: Low fees, diverse portfolio options, user-friendly interface, specifically offers Halal investment choices, widely available in Canada.
  • Cons: Limited human advisor interaction for basic plans, not a traditional bank, some services might still involve conventional structures if not specifically opting for Halal.

• Questrade (Self-Directed Investing)

  • Key Features: Online brokerage for self-directed investments, offers access to ETFs, stocks, options, and mutual funds. Users can choose Sharia-compliant investments.
  • Average Price: Commission-free ETF purchases, stock trades from $4.95, various account types.
  • Pros: Low trading fees, wide range of investment products, excellent for active investors, allows direct selection of Halal investments.
  • Cons: Requires more user knowledge for self-direction, platform can be complex for beginners, not all products are inherently Halal.

• Sharia-Compliant ETFs (e.g., Global X MSCI Islamic Global Equity ETF)

  • Key Features: Exchange-Traded Funds that invest in companies screened for compliance with Islamic law (e.g., no alcohol, tobacco, gambling, interest-based finance).
  • Average Price: Expense ratios typically range from 0.4% to 0.8% annually.
  • Pros: Diversified exposure to global markets, convenient way to invest ethically, professionally managed.
  • Cons: Limited number of available Sharia-compliant ETFs in Canadian markets, may not perfectly align with individual interpretations of Islamic finance.

• EQ Bank (High-Interest Savings Account – with caution for profit-sharing models)

  • Key Features: Online-only bank offering high-interest savings accounts. While not explicitly Sharia-compliant, some Muslims may consider it for cash management if they can find an explicit profit-sharing arrangement, or if it’s used strictly for transactional purposes without earning interest. (Note: This needs to be handled with extreme caution. A true Islamic savings account involves profit-sharing, not fixed interest.)
  • Average Price: No monthly fees, competitive savings rates.
  • Pros: High savings rates compared to traditional banks, no monthly fees, easy online access.
  • Cons: Crucially, operates on an interest-based model, which is Riba and thus impermissible in Islam. Only mentioned here to highlight the critical distinction for those who might confuse “high-interest” with “Halal profit-sharing” — they are not the same. Avoid if interest is involved.

• Islamic Microfinance Institutions (if available in Canada)

  • Key Features: Often provides small-scale financing and savings opportunities based on Islamic contracts like Murabaha (cost-plus financing) or Mudarabah (profit-sharing).
  • Average Price: Fees vary based on the specific contract and service.
  • Pros: Directly adheres to Islamic finance principles, supports ethical economic development.
  • Cons: Availability can be limited in certain regions, may not offer the full range of services like conventional banks.

• Wahed Invest (Global Platform, potential for Canada)

  • Key Features: A global Halal-focused robo-advisor that offers diversified portfolios in line with Islamic principles, investing in Sharia-compliant equities, Sukuk (Islamic bonds), and gold.
  • Average Price: Management fees typically start from 0.49% annually.
  • Pros: Fully Sharia-compliant, easy to use, professionally managed, international reach.
  • Cons: Canadian availability might still be developing or limited compared to the US/UK, fees might be slightly higher than generic robo-advisors.

• Peer-to-Peer (P2P) Lending Platforms (with caution and careful due diligence for Halal contracts)

  • Key Features: Connects borrowers directly with lenders. To be Halal, these platforms must operate on a profit-sharing model (like Mudarabah or Musharakah) or asset-backed sales (Murabaha), rather than interest-based loans.
  • Average Price: Fees vary significantly by platform and loan type.
  • Pros: Potential for higher returns, direct ethical impact if structured correctly, allows for customized financing solutions.
  • Cons: High risk of non-compliance with Islamic finance if not explicitly verified for Halal contracts. Many P2P platforms use interest, making them impermissible. Requires extensive due diligence to ensure no Riba is involved.

Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.

IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.

Tangerine.ca Review & First Look

Based on looking at the website, Tangerine.ca positions itself as a modern, digital-first bank in Canada, emphasizing no-fee daily banking, competitive rates, and ease of access through its mobile app and online platform. The homepage is clean, professional, and designed to quickly direct users to various banking services, including savings, chequing, investing, and borrowing. They highlight their achievements, such as being the “Most Awarded for Personal Banking Client Satisfaction among Midsize Banks – J.D. Power” for 13 years in a row and the “#1 Bank in Canada on the Forbes list of the World’s Best Banks 2025.” This branding aims to instill confidence and trust in potential clients.

The website provides direct links to key sections like “Personal” and “Business” banking, along with quick access to “Rates,” “ABM Locator,” and “Help Centre.” This structure aims to streamline the user experience, allowing visitors to navigate to specific services or find information efficiently. The presence of a “Learning Centre | The Juice” and “Money Management Tools” suggests an effort to educate clients on financial literacy and provide resources for better financial planning.

However, a critical review from an Islamic finance perspective immediately reveals a significant issue: the pervasive integration of interest (Riba) across nearly all their core products. While the interface and information are well-presented, the underlying financial model is largely problematic for Muslims.

Tangerine.ca’s Impermissible Offerings

Tangerine.ca’s core business model is built on traditional banking principles that involve interest-based transactions, which are strictly prohibited in Islam. This prohibition, known as Riba, extends to both receiving and paying interest.

The Problem of Riba (Interest)

• Definition: Riba, in Islamic finance, refers to any excess or increase received over and above the principal amount of a loan or debt. It is considered exploitative and unjust, leading to economic inequality and instability. The Quran explicitly condemns Riba, and numerous Hadith reinforce its prohibition.
• Economic Impact: Islamic scholars argue that interest distorts economic activity by encouraging debt-based growth rather than real asset-backed investment. It can create wealth disparities and contribute to financial crises.
• Spiritual Ramifications: Engaging in Riba is considered a major sin in Islam, with severe spiritual consequences for those who knowingly partake in it.

Specific Tangerine Products Involving Riba

Tangerine.ca lists a wide range of products that rely on interest, making them impermissible for Muslims:

• Savings Accounts:
  • Savings Account
  • TFSA Savings Account (Tax-Free Savings Account)
  • RSP Savings Account (Registered Retirement Savings Plan)
  • RIF Savings Account (Registered Retirement Income Fund)
  • US$ Savings Account
  • Children’s Savings Account
  • All these accounts pay interest on deposits, which is Riba.
• Guaranteed Investments (GICs):
  • Guaranteed Investment (GICs)
  • US$ Guaranteed Investment (GIC)
  • GICs are inherently interest-bearing investments, providing a guaranteed return based on a fixed interest rate.
• Credit Cards:
  • World Mastercard®
  • Money-Back Credit Card
  • Credit cards involve interest on outstanding balances, late payment fees (often interest-based penalties), and can facilitate interest-based spending.
• Borrowing Options:
  • Mortgage
  • Home Equity Line of Credit
  • Line of Credit
  • RSP Loan
  • All these are conventional loans that charge interest to the borrower, which is Riba.
• Mutual Fund Investments: While mutual funds themselves could be structured ethically, traditional mutual funds often include interest-bearing instruments or invest in companies that do. Without explicit Sharia-compliant screening, these are generally not permissible.

Tangerine.ca Cons

Given the fundamental conflict with Islamic financial principles, the cons of Tangerine.ca for a Muslim audience are significant and outweigh any operational conveniences.

• Pervasive Interest (Riba): This is the primary and most critical con. Almost every core banking product offered—savings accounts, GICs, credit cards, mortgages, and loans—is based on interest. For Muslims, engaging in Riba is strictly forbidden, making Tangerine.ca fundamentally incompatible with their faith.
• Lack of Sharia-Compliant Alternatives: The website does not offer any explicitly Sharia-compliant products or services. There are no profit-sharing (Mudarabah/Musharakah) accounts, asset-backed financing (Murabaha/Ijara), or Takaful (Islamic insurance) options.
• Ethical Conflict: Beyond the religious prohibition, Riba is viewed as an unethical financial practice that leads to economic injustice and fosters unearned income. Participating in such a system, even passively, goes against the ethical principles of Islamic finance which emphasize fairness, risk-sharing, and real economic activity.
• Limited Scope for Muslims: A Muslim looking to manage their finances responsibly and ethically would find their options severely restricted on Tangerine.ca. They would be unable to utilize most of the services without compromising their religious beliefs.
• Risk of Unintentional Riba: Even if a Muslim client attempts to use only the chequing account and avoids credit products, the interconnected nature of modern banking means they might inadvertently contribute to or benefit from interest-based operations of the bank.

Ethical Alternatives for Financial Management

For Muslims seeking to manage their finances ethically in Canada, the focus must shift towards Sharia-compliant financial institutions and products. These alternatives prioritize principles such as risk-sharing, justice, transparency, and the avoidance of Riba.

• Islamic Co-operative Housing Corporations (e.g., Ansar Co-op, Umoja Community)

  • Key Features: Offer Murabaha (cost-plus financing) or Musharakah (partnership) models for homeownership, avoiding conventional mortgages with interest.
  • Average Price: Purchase prices and profit-sharing terms are structured differently than traditional loans, often with a profit margin over a set period.
  • Pros: Directly addresses the need for Halal home financing, supports community-based ethical finance, transparent structures.
  • Cons: Limited availability by region, often requires a waiting list, terms may differ from conventional mortgages.

• Sharia-Compliant Investment Funds (e.g., Global X MSCI Islamic Global Equity ETF)

  • Key Features: Professionally managed funds that invest only in companies meeting strict ethical and financial screens, excluding industries like alcohol, gambling, conventional finance, and interest-bearing debt.
  • Average Price: Expense ratios typically range from 0.4% to 0.8% annually.
  • Pros: Easy access to diversified, ethically screened investments, managed by experts, aligns with Islamic principles.
  • Cons: Limited selection of funds available in Canada compared to conventional options, performance may vary.

• Halal Robo-Advisors (e.g., Wahed Invest, Wealthsimple Invest’s Halal portfolios)

  • Key Features: Automated investment platforms that offer pre-built portfolios composed of Sharia-compliant ETFs and other Halal assets.
  • Average Price: Management fees from 0.4% to 0.8% of assets under management.
  • Pros: Convenient, low-cost way to invest ethically, suitable for beginners, automates rebalancing.
  • Cons: Limited customization, relies on the underlying Sharia screening methodology of the chosen funds.

• Credit Unions with Ethical Screening or Community Focus (Requires careful vetting)

  • Key Features: While not explicitly Islamic, some credit unions might offer financing models or investment options that are more community-focused and less reliant on high interest rates, or they may offer specific products that can be structured to avoid Riba. Extreme caution and detailed scrutiny are needed.
  • Average Price: Varies widely based on specific credit union and service.
  • Pros: Member-owned, focus on local community development, potentially more flexible than large banks.
  • Cons: Most still operate on interest-based models for loans and savings. Finding truly Halal options requires rigorous due diligence and often bespoke arrangements.

• Gold and Silver as Stores of Value (Physical Assets)

  • Key Features: Investing in physical gold or silver bullion as a store of wealth, adhering to the Islamic principle of holding tangible assets rather than speculative financial instruments.
  • Average Price: Spot price of gold/silver plus a premium for minting and distribution.
  • Pros: Historically stable store of value, tangible asset, acts as a hedge against inflation, permissible in Islam as real wealth.
  • Cons: Requires secure storage, not liquid for daily transactions, price fluctuations, no income generation.

• Direct Equity Investment in Halal Businesses (Individual Stock Purchase)

  • Key Features: Investing directly in the shares of companies that operate ethically and are Sharia-compliant (e.g., no involvement in alcohol, gambling, conventional finance, or excessive debt).
  • Average Price: Stock prices vary; brokerage fees apply per trade.
  • Pros: Full control over investment choices, potential for capital appreciation and Halal dividends, direct support for ethical businesses.
  • Cons: Requires extensive research and due diligence to ensure compliance, higher risk for individual stock picking, may not be diversified.

• Takaful (Islamic Insurance)

  • Key Features: A cooperative system of insurance where participants contribute to a fund that is used to pay claims, based on mutual assistance and shared responsibility, avoiding elements of Riba, Maysir (gambling), and Gharar (excessive uncertainty).
  • Average Price: Contributions (premiums) are structured to cover claims and operating costs, with potential for surplus sharing.
  • Pros: Adheres to Islamic principles, offers financial protection, promotes mutual cooperation.
  • Cons: Limited availability in Canada for all types of Takaful products (e.g., car, home, life), may not be as competitively priced as conventional insurance in some cases.

Tangerine.ca Rates & Financial Products

Tangerine.ca prominently displays its rates for various financial products, particularly for savings accounts and GICs. While transparency in rate disclosure is generally a positive aspect, it is crucial to understand that these rates are almost exclusively tied to interest (Riba), making them impermissible for Muslims.

• Tangerine.ca GIC Rates: The website provides current annual interest rates for Guaranteed Investment Certificates (GICs). For instance, as of the date of the review, they might show various terms like 1-year, 2-year, or 5-year GICs with corresponding interest rates. These are fixed returns on investment, which, by definition, constitute Riba.
• Savings Account Rates: Tangerine highlights competitive interest rates for its savings accounts, including regular Savings Accounts, TFSA Savings Accounts, and RSP Savings Accounts. These accounts offer daily interest calculations and monthly payments, which is a direct form of Riba.
• Mortgage Rates: The “Borrow” section lists options like Mortgages and Home Equity Line of Credit, all of which are conventional loans with interest rates. Tangerine.ca mortgage rates will vary based on market conditions, but the underlying structure is Riba-based.
• Credit Card Interest: Their credit cards, such as the World Mastercard® and Money-Back Credit Card, involve annual interest rates on balances carried over, as well as potential cash advance interest rates. These are standard features of conventional credit, making them problematic.

It’s important to note that while Tangerine.ca offers a clear overview of these rates, the fundamental nature of these products as interest-bearing renders them unsuitable for those adhering to Islamic financial ethics. The allure of “competitive rates” should not overshadow the religious prohibition.

Tangerine.ca Contact Us & Help Centre

Tangerine.ca provides robust avenues for client support, which is a hallmark of a reputable online financial institution. The “Help Centre” is a comprehensive resource designed to address common queries and provide self-serve options. This includes FAQs, guides, and tutorials, aiming to reduce the need for direct contact for routine issues.

Key contact and help features include:

• Tangerine.ca Phone Number: While not immediately visible as a large prominent number on the homepage, the Help Centre typically provides a direct phone number for client service. This allows for immediate assistance with complex issues or account-specific inquiries.
• Live Chat Option: The “Skip to chat” link at the top indicates a readily available live chat feature, offering real-time support during business hours. This is convenient for quick questions that don’t require a phone call.
• Online Help Centre: This extensive section covers topics ranging from “Saving Account offer” and “Chequing Account offer” to “How to activate debit card,” “How to activate credit card,” “Void cheque for direct deposit,” and “Direct deposit form.” The search functionality within the Help Centre allows users to find specific answers efficiently.
• ABM Locator: A practical tool for finding nearby ATMs (Automated Banking Machines) for cash withdrawals or deposits, essential for an online-focused bank.
• Feedback Option: This indicates a willingness to gather user input and potentially improve services.

From a general usability standpoint, these contact and support features are highly beneficial, ensuring clients can resolve issues and get information without significant hassle. However, for a Muslim client, while the support channels are efficient, the core banking services remain problematic due to their interest-based nature. A helpful customer service team cannot change the impermissibility of Riba.

Tangerine.ca Mobile Banking & Digital Experience

Tangerine.ca strongly emphasizes its digital-first approach, with a significant focus on its mobile banking application and overall online experience. This aligns with modern banking trends, offering convenience and accessibility to clients.

• Mobile Banking App: The website prominently features its mobile banking app, boasting high ratings of 4.6 stars from 43,000 reviews on Google Play Store and 4.7 stars from 71,000 reviews on the App Store (as of March 2025). This suggests a well-regarded and functional app that provides a smooth user experience. The ability to “Become a Client completely digitally with our Mobile Banking app” highlights its seamless onboarding process.
• Digital Account Activation: The platform facilitates digital activation of cards and accounts, including “How to activate debit card” and “How to activate credit card” FAQs. This reduces the need for in-person visits or lengthy phone calls, making it very user-friendly.
• Money Management Tools: Tangerine.ca offers “Money Management Tools” and the “Learning Centre | The Juice,” indicating resources designed to help clients manage their finances digitally. The ability to “Put your credit into view” and check credit scores while logged in further enhances the digital self-service experience.
• Security Features: The website stresses that “Your security matters,” detailing expert tips and “24/7 security features for peace of mind.” This focus on digital security is crucial for an online-only bank, addressing client concerns about data protection.
• Responsive Design: The mention “No matter what device, we’ve got you covered. Add your Tangerine Client Card and Credit Card to your mobile wallet and use it where contactless payments are accepted” points to a responsive website and mobile wallet integration, enhancing convenience for daily transactions.

While the digital experience and mobile app functionality are undoubtedly strong points for Tangerine.ca, they primarily serve to facilitate engagement with products that are problematic from an Islamic perspective. The convenience of managing an interest-based account digitally does not alter its impermissibility. Therefore, while operationally excellent, its core offerings remain ethically challenging for Muslim users.

How to Find Halal Financial Alternatives

Given the fundamental issues with interest-based banking, finding truly Halal financial alternatives requires a deliberate approach. The goal is to engage in financial transactions that are just, ethical, and free from Riba, gambling (Maysir), and excessive uncertainty (Gharar).

1. Seek Out Islamic Financial Institutions (IFIs):

   • Research banks, credit unions, or financial service providers that explicitly state their adherence to Sharia principles. These institutions structure their products (e.g., savings, financing, investments) based on contracts like Murabaha (cost-plus sale), Mudarabah (profit-sharing), Musharakah (partnership), or Ijara (leasing).
   • Verify Sharia Boards: Reputable IFIs will have an independent Sharia Supervisory Board (SSB) composed of qualified scholars. This board reviews and approves all products and operations to ensure compliance. Look for this oversight.

2. Explore Halal Investment Platforms and Robo-Advisors:

   • Several platforms, like Wahed Invest (though check for Canadian availability) or Wealthsimple Invest’s Halal portfolios, offer automated investment in Sharia-compliant ETFs. These ETFs exclude companies involved in impermissible industries (alcohol, tobacco, gambling, conventional finance, etc.) and adhere to financial screens regarding debt levels.
   • For self-directed investors, platforms like Questrade allow you to choose individual stocks or ETFs that are known to be Sharia-compliant. This requires more personal research and due diligence.

3. Invest in Physical Assets:

   • Gold and Silver: Holding physical gold and silver bullion is a permissible way to store wealth and hedge against inflation, as it represents tangible assets rather than interest-bearing financial instruments.
   • Real Estate: Investing directly in real estate for rental income or capital appreciation, provided the financing is Halal (e.g., through a cooperative or ethical mortgage alternative), is permissible.

4. Utilize Takaful (Islamic Insurance):

   • Instead of conventional insurance, seek Takaful providers. Takaful operates on principles of mutual cooperation and shared responsibility, where participants contribute to a common fund to help each other in times of need, avoiding Riba, Maysir, and Gharar.

5. Consider Ethical Credit Unions (with extreme caution):

   • While most credit unions still operate on interest, some might have specific programs or a community-focused ethos that could potentially align more closely with ethical finance. However, it is paramount to scrutinize every product for Riba, as this is the primary determinant of permissibility. Do not assume “ethical” means “Halal.”

6. Avoid Conventional Credit Cards and Loans:

   • Traditional credit cards and loans inherently involve interest (Riba). Instead, explore Halal financing alternatives for purchases (e.g., through Murabaha sales contracts) or consider building a savings habit to avoid debt altogether.

7. Educate Yourself:

   • Familiarize yourself with the core principles of Islamic finance. Resources from reputable Islamic finance organizations, scholars, and academic institutions can help you make informed decisions. Understanding terms like Mudarabah, Musharakah, Murabaha, Ijara, Sukuk, Riba, Maysir, and Gharar is essential.

By actively seeking out these alternatives and understanding the underlying principles, Muslims in Canada can build a financial life that aligns with their faith and contributes to a more ethical economic system.

FAQ

What is Tangerine.ca?

Tangerine.ca is a Canadian direct bank, a subsidiary of Scotiabank, offering a range of financial products and services primarily online and through its mobile app, including savings accounts, chequing accounts, GICs, credit cards, mortgages, and loans.

Is Tangerine.ca suitable for Muslims?

No, Tangerine.ca is largely unsuitable for Muslims because its core financial products, such as savings accounts, GICs, credit cards, and loans, are based on interest (Riba), which is strictly prohibited in Islamic finance.

What is Riba in Islamic finance?

Riba refers to any excess or increase received over and above the principal amount of a loan or debt. It is considered an unjust and exploitative form of financial transaction in Islam.

Does Tangerine.ca offer any Sharia-compliant products?

Based on the website review, Tangerine.ca does not explicitly offer any Sharia-compliant products or services, as its offerings are built on conventional interest-based banking models.

What are Tangerine.ca GIC rates?

Tangerine.ca provides various GIC (Guaranteed Investment Certificate) rates for different terms, which are fixed interest returns on investments. These rates, while competitive, are interest-based and thus impermissible in Islam.

How can I contact Tangerine.ca?

You can contact Tangerine.ca through their phone number found in their Help Centre, via their live chat feature, or by exploring the comprehensive FAQs and resources available in their online Help Centre.

Can I reset my Tangerine.ca PIN?

Yes, Tangerine.ca offers options to reset your PIN through their online banking platform or by contacting their client service, as is common with digital banks.

How do I activate my Tangerine.ca card?

Tangerine.ca provides clear instructions on its website and within its Help Centre on how to activate both debit and credit cards, often through online banking or the mobile app.

What are the alternatives to Tangerine.ca for ethical banking?

Ethical alternatives include Islamic financial institutions that offer Sharia-compliant products (like profit-sharing accounts or asset-backed financing), Halal investment platforms, and Takaful (Islamic insurance) providers.

Does Tangerine.ca offer mortgage rates?

Yes, Tangerine.ca offers various mortgage rates for both new purchases and refinancing. However, these are conventional, interest-based mortgages, which are impermissible in Islamic finance. Notarize.ca Review

What types of accounts does Tangerine.ca offer?

Tangerine.ca offers personal and business accounts, including Savings Accounts (TFSA, RSP, RIF, US$, Children’s), Chequing Accounts, and various investment accounts like GICs and Mutual Funds.

Is Tangerine.ca an online-only bank?

Tangerine.ca operates primarily as a direct bank, meaning most of its services are conducted online, through its mobile app, or via phone, with limited physical branches.

How secure is banking with Tangerine.ca?

Tangerine.ca states it prioritizes security, offering expert tips and 24/7 security features to protect client information and accounts, typical of reputable financial institutions.

Can I get a void cheque or direct deposit form from Tangerine.ca?

Yes, Tangerine.ca provides easy access to void cheques and direct deposit forms through its online banking platform and Help Centre, facilitating direct deposits for payroll or benefits.

What is the Tangerine.ca mobile app rating?

As of March 2025, the Tangerine.ca mobile app holds high ratings: 4.6 stars on the Google Play Store from 43,000 reviews and 4.7 stars on the App Store from 71,000 reviews.

Does Tangerine.ca offer financial education tools?

Yes, Tangerine.ca provides a “Learning Centre | The Juice” and “Money Management Tools” to help clients improve their financial literacy and manage their money effectively.

What is the issue with credit cards from an Islamic perspective?

Credit cards are problematic in Islam because they typically involve interest charges on outstanding balances, which is Riba, and can lead to excessive debt.

Are all mutual funds on Tangerine.ca Sharia-compliant?

No, unless explicitly stated and overseen by a Sharia board, traditional mutual funds offered by conventional banks like Tangerine.ca are generally not Sharia-compliant as they may invest in interest-bearing instruments or non-Halal industries.

What is the difference between an interest-based savings account and a Halal savings account?

An interest-based savings account pays a predetermined, fixed rate of return (Riba) on deposits. A Halal savings account operates on a profit-sharing (Mudarabah) model, where the return is based on the actual profits generated from Halal investments, sharing both profits and risks.

Why is ethical financial management important in Islam?

Ethical financial management in Islam is crucial because it promotes economic justice, fairness, and risk-sharing, discouraging exploitation and ensuring that wealth is generated through legitimate means that benefit society, not just individuals. Read.amazon.ca Review