When we moved back to Canada and Dave started working on various short term contracts in Ontario and Quebec, we needed to open a bank account here in Ontario. So I started researching various banks and checking into what accounts would be best for us to set up.
I discovered, to my dismay, how much more Canadian banks charge for monthly service fees, as well as ATM fees than the banks that we deal with in the US.
The thought of paying those expensive fees each month really bothered me and I kept putting off opening an account here in Ontario. (We have an account with ATB Financial but it only has branches in Alberta.)
Then I learned that ING Direct was available in Canada. For those of you who aren’t aware of ING Direct, it is an online bank that charges no monthly fees on any accounts and as a bonus they pay interest even on their chequing accounts.
Almost everything can be done online, from opening the account to making money transfers between accounts and even between banks. They also offer online bill pay and direct deposit. In fact, if you open an account and set up direct deposit you receive a $100 bonus.
Once you open an account online, you mail in a cheque from your current bank to be deposited into the account you just opened. Once that cheque clears your account is activated. Or if you have a smart phone… you download their app, take a photo of your cheque and it will then be deposited into your account.
We’ve been using ING Direct for both our chequing and savings for the past six months and I couldn’t be more pleased with how easy it has made our banking without all the fees that we would have had if we’d opened an account with any of the other major banks in Canada.
ING Direct also offers a referral program. If someone opens an ING Direct account with a minimum of $100 deposit and they use my referral key, I receive $25 dollars and the person who opens the account also receives $25.
Tis the season for a double referral Bonus!
You may well be wondering why I’m telling you all this. Well… from now until December 31st, ING Direct has doubled that referral fee to $50.
In other words, if someone opens an account with a minimum of a $100 deposit and uses my referral key, they receive $50 just for opening the account and I would then receive a referral bonus of $50. That’s an immediate return of 50% for the person opening the account!
So if you’re interested in opening an ING Direct chequing or savings account or perhaps have even been thinking about it for a while but haven’t gotten around to it… now would be a great time to do so. Go to www.ingdirect.ca
And if you would like to use my referral key, please feel free to use the ING Direct referral key # that is listed in the icon in my right side bar.
Please Note: I have not received any compensation beforehand for writing the above post. I am simply a satisfied ING Direct customer passing along what I hope will be useful information. The only compensation I might receive is through someone using my referral key should they choose to open an account with ING Direct. I love win-win situations and this is one I wanted to share.