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I was surfing the net doing research on high interest tax free savings accounts and when I came across ING Direct, I noticed that they are offering a sign up bonus of $25 when depositing $100 initially or more as I understood.

I liked ING Direct because of their high interest rate, not that high, but usually the higher of all, especially against Canadian banks.

Saving Account at 1.2%

ING Direct is an online bank like PC Financial that only offers saving account (not only, but there is no checking account). To and from where you can transfer money at no fee.

It is very easy to use and their “Goal Set” tools are really made for what it is for.

I have just set 2 saving accounts. One for Vacation saving and the other one to build my emergency fund. Using the Goal tool, I can just initiate my custom Automated Saving Program so that some money is put aside automatically. This can also be done manually between the banks you link ING Direct with.

TFSA at 3%

What really led me towards ING direct is their 3% TFSA rate. I had been looking for “conservative” place to shelter some money but never found anything interest as interest were very low. At least my first “conservative” TFSA sheltering is earning a bit.

Get $25 for opening an account

All they needed was basic personal info along with basic banking info from which the client will be transferring money from.  After that, a personal cheque needs to be mailed in to verify banking information.  From the beginning to end, the whole process took about 3 business days, with about 20 minutes worth of “work”.

You can use $25 using their referral program.

1. Apply for a new account
2. When asked, use the orange key code 33784873S1
3. Deposit at least $100
4. Get $25

After your account is opened, you will see a free $25 in your ISA account (or new ISA if you did not have one).

Very pleased

So far I am very impressed and pleased by the ease of use and competitive interest rates. I think ING Direct does a good job for your saving accounts!

How do you use your ING Direct account? Have you tried their other products?