I was recently referred to open an Investment Savings Account at ING Direct Canada by a close friend.  I was hesitant at first as the thought of having an additional account to track and another financial institution to deal with seemed like too much trouble.  However, I decided to give ING a chance and was very pleasantly surprised at the ease and simplicity of the entire transaction to open an investment savings account:

  • The entire process was completed online in about 15 to 20 minutes
  • Instructions were very easy to follow
  • There was very little paperwork required
  • My initial deposit was processed very quickly

My friend and I each received a $25 bonus and I will be earning 0.3% more interest every month (compared to accounts at PC Financial or TD Bank).  Overall, for a one-time investment of 20 minutes the increased interest each month is definitely worth it.

Even with my initial positive experience, I’ll be sure to keep the deposits under the CDIC limit as it seems the prudent thing to do. Also, I’ll have to see how quickly withdrawals are processed to form a full opinion of their service.

If you’re in the market for a new savings account or are looking to get a higher interest rate on savings I recommend considering ING.  If you need a referral code for the $25 bonus let me know (yes, that was a shameless plug for myself).

Do other readers out there have experience with ING (or similar competitors)?  What are your thoughts?

Disclaimer:  This blog has no professional association with any organizations or companies mentioned in the article.  The contents of the article are the personal opinion of the author at the time the article was posted and may be subject to change.  The blog and author are not responsible, nor will be held liable for any content posted by others in the blog comments.  Readers should complete their own due diligence prior to making any personal decisions.