Guides
EQ Bank vs Tangerine for students
Updated November 2026
Both are online banks with no monthly account fee, and both are popular with students who don’t want to pay to keep an everyday account. Here is how they differ, based on what each bank advertises. We don’t list interest rates because they change often.
Tangerine Chequing
- No monthly fees, for students and after you graduate
- No minimum balance
- Unlimited free Interac e-Transfers
- Open in the app with a selfie and your ID
- Tangerine Bank is a subsidiary of Scotiabank and a CDIC member
EQ Bank Personal Account
- Advertises no account fees, no e-Transfer fees, and no bill payment fees
- One account for spending and saving
- Open to Canadian residents who have reached the age of majority in their province
- EQ Bank is a trade name of Equitable Bank, a CDIC member
Which fits you?
- Under the age of majority? Tangerine accepts chequing customers from age 16, so it may be the one you can open now.
- Want spending and saving in one place? EQ Bank’s single account is built for that.
- Need cash often? Check each bank’s ATM access and any fees for using other banks’ machines.
- Getting student aid deposited? Either works. Make sure the name on the account matches your aid application.
Eligible deposits at CDIC members are protected up to set limits. See cdic.ca for what is covered.
More options
Compare these with big-bank student accounts in our student bank accounts guide.
Education only, not financial advice. WealthNutz is not paid by EQ Bank or Tangerine and has no affiliate links on this page. Features were checked in November 2026 and can change. Confirm fees, rates, and eligibility on each bank’s site.
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