Transaction – Tangerine
The way Tangerine makes money is a little different than dogpile using ad revenue to make a profit. Tangerine is a online banking service that makes its money by earning interest on funds that are deposited by customers into their accounts. They also earn money on interest charged on other services they offer such as credit cards, mortgages, and lines of credit.
Other ways they can make money include NSF fees as well as overdraft charges.
They are a subsidiary of Scotiabank and offer no brick-and-mortar locations, so they can cut down on their overhead costs and offer free or low fee accounts to their customers. This can be incredibly enticing to those with lower income or who don’t like to spend a lot of money on banking.
Leave a Reply