Tangerine New Client Payroll Offer Terms and Conditions

General Terms

1. The Tangerine New Client Payroll Offer (the “Offer”) is available to new Clients who(se):

a. Client Number (as defined below), with Tangerine Bank, was created between [[CSD]] and [[OED]] (the “Offer Period”); and

b. Open a Tangerine Chequing Account within 60 days of the date their Client Number was created; and

c. Set up payroll direct deposits within 60 days of the date their Chequing Account was opened, as outlined in Section 4 below.

A “Client Number” is created when a new Client submits his/her personal information (including, but not limited to, name, mailing address and email address) to Tangerine as part of the Account opening process and is assigned a unique identification number.

2. The Offer is only applicable to Accounts where the new Client is the person whose name appears first on the Bank statement (the “Primary Account Holder”). For Accounts where the new Client is not the Primary Account Holder (Example: the Client is not the Primary Account Holder on a joint Account and is listed second on the statement for that Account), the Offer will not be applied to that particular Account.

3. In addition to these Offer Terms and Conditions, all terms and conditions associated with the Tangerine Chequing Account will continue to apply.

Cash Bonus Conditions

4. A cash Bonus of [[TMB]] (the “Bonus”) will be paid to the new Client’s Tangerine Chequing Account if the Client switches their eligible automated and recurring payroll direct deposits (as defined in Section 6 below) to their new Tangerine Chequing Account, and provided all of the following conditions are met:

a. The Client must deposit the full amount of their payroll direct deposits to qualify; partial payroll direct deposits will not be considered eligible. Tangerine may require proof of payroll in the event of a dispute.

b. Payroll direct deposits must total a minimum of [[TMB2]] on a monthly basis;

c. The first eligible payroll direct deposit must be received in the Client’s Tangerine Chequing Account within 60 days of successfully opening the Chequing Account; and

d. The Client’s subsequent eligible payroll direct deposits into the Chequing Account must continue for at least 2 consecutive months.

5. The Bonus can’t be combined with other Chequing cash Bonus offers and is limited to one (1) Bonus per Primary Account Holder. Where a Client qualifies for more than one cash Bonus offer from the Bank, this Bonus offer will be applied to the Client’s Tangerine Chequing Account first, to the exclusion of any other cash Bonus offer.

6. Only deposits categorized under the Canadian Payment Association code as payroll listed below qualify for the Offer, including Pension, Employment Insurance, Old Age Security, Canada Pension Plan, Workers Compensation, Parental Assistance and Income Security Benefit. Please note deposits under CPA Code 450 - ‘Miscellaneous’ will not qualify for the Offer.

Table of eligible deposits categorized under the Canadian Payment Association code as “payroll”

7. The Bonus will be paid to the Client’s Tangerine Chequing Account in the subsequent month following the satisfaction of the above conditions.

Limitations:

8. This Offer is non-transferable, non-saleable, and may not be exchanged for cash.

9. Tangerine reserves the right at its absolute discretion to vary, delete or add to any of these Terms and Conditions from time to time without prior notice. In the event of conflict, these Terms and Conditions will prevail over any of the contents of any brochure, promotional materials or statements, or any other communication regarding this Offer, whether written or oral from Tangerine, except where otherwise stated.

10. Tangerine reserves the right at its sole discretion, without advance notice, to extend, suspend, terminate, or otherwise modify the Offer, in whole or in part or for select Clients, for any reason or if the Offer can't run as planned including infection by computer virus, bugs, tampering, unauthorized intervention, fraud, technical failures, or any other causes beyond Tangerine’s reasonable control which corrupt or affect the administration, security or proper conduct of this Offer.

11. Tangerine reserves the right, at its sole discretion, to suspend, disqualify, limit or revoke this Offer for any Account holder it finds or believes to be manipulating or otherwise abusing the process, fairness, or integrity of the Offer or who otherwise is deemed ineligible.

12. By accepting an Offer, you agree that you have read and understood these Terms and Conditions and agree to be bound by them. Any notice with respect to this Offer is deemed to be provided on the day it is posted on our website.