Some Big (and Emotional) Surprises for Tangerine's Visa* Debit Launch
Written by Maria Hyde
Tuesday, November 3rd, 2020
To celebrate the launch of Tangerine's new Visa* Debit Chequing Account feature, which helps Canadians take control of their spending, Tangerine set out to also make a real difference in the lives of two Clients impacted by COVID-19. Here are their full stories and reactions to the big surprise:
$10,000 and Some Heartfelt Surprises
COVID-19 has brought on so many challenges this year, and financial challenges are no exception. Over the past few months, Tangerine made thousands of calls to Clients who were impacted by COVID-19 to check in and let them know about financial relief measures that could help them out.
In the spirit of coming together to help during these times, Tangerine wanted to take things one step further by surprising two Clients with $10,000 each!
One of the Clients who received $10,000 is Monica from Toronto, Ontario. With her husband out of work, her two-year-old at home and an aging parent battling dementia, it's been especially challenging for her to balance her family situation. "Hearing we are receiving this money from Tangerine left us stunned and shocked with happiness," exclaimed Monica after receiving the good news. "We will be able to take care of some of our living expenses more easily thanks to Tangerine!"
Wanda from Kirkland, Quebec has been battling cancer and unable to work due to her compromised immune system. She's had to deal with growing medical expenses without any form of income or support through CERB, so getting surprised with $10,000 made her especially emotional and tearful.
"Being told I was receiving this gift was totally unexpected! As tears welled up in my eyes, I just couldn't believe it was happening to me," said Wanda as she reflected on the big news. "This gift will provide me with peace of mind to help me focus on my treatment and healing rather than the constant financial worries of paying for medication and bills," Wanda beamed.
Supporting Clients in Uncertain Times
"This launch comes at a time when many Canadians are looking for ways to better manage their finances, and we're happy to bring Clients a product with so many great benefits and no fees," said Tangerine President and CEO Gillian Riley. "That's why we wanted to celebrate with something special that helps make a difference in the lives of some deserving Clients, as it's been a particularly challenging year for them. We were thrilled to bring some good news to Monica and Wanda right now."
This act of kindness is just the latest effort from Tangerine to be there for their Clients during these challenging times. On top of proactive Client check-in calls, Tangerine offered various financial relief measures to Clients impacted by COVID-19 including payment deferrals and in the case of credit cards, reduced interest rates.
So What Exactly is a Tangerine Client Card with Visa* Debit, and Why is it Such a Big Deal?
First things first: it's not a credit card, but it's also not a traditional debit card – it's a bit of both!
As the first exclusively digital bank in Canada◊ to offer Visa* Debit, Tangerine Clients can now shop online for everyday necessities, make online bill payments, in-app purchases, pay for online subscriptions and more using money they already have in their Chequing Account.
This is big, given that these days, more and more of us are going online to buy what we need, but are also trying to be mindful with our money.
*Trademark of Visa International Service Association and used under license.
◊Based on existing Visa Debit issuers as of August 31, 2020. A digital or direct bank is a bank without a branch network that offers everyday banking products and services through remote channels and without physical branches to process transactions.
This article or video (the “Content”), as applicable, is provided by independent third parties that are not affiliated with Tangerine Bank or any of its affiliates. Tangerine Bank and its affiliates neither endorse or approve nor are liable for any third party Content, or investment or financial loss arising from any use of such Content....
The Content is provided for general information and educational purposes only, is not intended to be relied upon as, or provide, personal financial, tax or investment advice and does not take into account the specific objectives, personal, financial, legal or tax situation, or particular circumstances and needs of any specific person. No information contained in the Content constitutes, or should be construed as, a recommendation, offer or solicitation by Tangerine to buy, hold or sell any security, financial product or instrument discussed therein or to follow any particular investment or financial strategy. In making your financial and investment decisions, you will consult with and rely upon your own advisors and will seek your own professional advice regarding the appropriateness of implementing strategies before taking action. Any information, data, opinions, views, advice, recommendations or other content provided by any third party are solely those of such third party and not of Tangerine Bank or its affiliates, and Tangerine Bank and its affiliates accept no liability in respect thereof and do not guarantee the accuracy or reliability of any information in the third party Content. Any information contained in the Content, including information related to interest rates, market conditions, tax rules, and other investment factors, is subject to change without notice, and neither Tangerine Bank nor its affiliates are responsible for updating this information.
Tangerine Investment Funds are managed by Tangerine Investment Management Inc. and are only available by opening an Investment Fund Account with Tangerine Investment Funds Limited. These firms are wholly owned subsidiaries of Tangerine Bank. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.