Tangerine Bank, operating as Tangerine, is a Canadian direct bank and a subsidiary of Scotiabank. It offers savings accounts, Tax-Free Savings Accounts (TFSA), Guaranteed Investment Certificates (GIC) and Registered Retirement Savings Plans (RRSP), mutual funds, mortgages and a no-fee chequing account.Founded by ING Group in 1997 as the Canadian operation of ING Direct, the bank was acquired by Scotiabank in 2012.