Got a basic TFSA with them too for emergencies, also a joint savings account with the GF.

TFSA room works similar to RRSP room. You get $5,000/year and can contribute it to any TFSA, so there should be no problem contributing your extra room. Just be careful with withdrawals, since you only get that room back the following year.

Just curious – why would you not contribute to your TD TFSA and invest it properly. ING savings is really only for short term or emergency fund uses. It is not a good long term investment return. Is this short term money?

Ed

I do have a “bit” of a problem with their very slow “taking” of the money from my bank account.

When I send my savings, it leaves my personal bank account the next day, but languishes on hold for seven days. Yes they pay interest, which really isn’t my reason for saving it, it’s just to put it away somewhere AWAY from my spending account, but seven days????

I generally put lots in, but end up taking $40 or so back to shore up groceries or shortages, but always the amount is growing, so it’s a bit difficult when that happens.

Since we are paid on Thursdays, if I place the money to ING, it’s not usually ready until the following Friday 7-8 days later, thus if I wanted to claw back a small amount, it doesn’t happen until Monday.

That’s about my only complaint, it really makes no sense it takes seven days to deposit, as a payment to credit card takes about 3-4 at most?

Anyhoo!

I now have my own “orange key.” Naturally I am spreading the word.

Thanks for the excellent tip. That $25 that showed up today was from me!

Steph

I do not currently have an ING account, so if I were to open one and get my own orange key code can I then use that to open my 3 kids individual accounts and get them $25 each as well?

Just a little unclear as to how this works. Thanks!

Thanks a lot.

I have had an account with this “no-frills” bank for a number of years, and was using it mostly as a place to park my savings.

After the TFSA was introduced in the 2008 budget, I waited for an announcement from my regular bank, as I was anxious to open an account. By late fall there seemed to be nothing in the works, and when I approached a teller some time in October or early November (less than 2 months before the TFSA was to come into effect), she was still unclear on the process, didn’t know if there would be a fee (although she suspected there would be a charge of some kind) and explained that, in any event, I would have to book an appointment to speak to one of their customer service agents (and I use the term loosely).

I returned home, went directly to the ING website, and within less than 5 minutes I had opened one of their early, higher-interest, TFSA-in-waiting accounts. No muss, no fuss, no charge. Since I am hoping to hold onto the account for the long term, being among the first out of the gate will probably reap huge benefits for ING.

To be fair to other readers, please do not post your ING codes. I am, however, saving them.

Thanks