Last year I made the exact same $100 in ING I would have with Ally during 2009, except I got an additional $70 from the TFSA kickstart where they doubled the interest for 3 monthsDidn't they do this last year?
I thought that is who those commercials with the kids who can't ride the bike outsie of the tiny square were making fun of.
This should be added to the finance ministers lists of TFSA tweaks next time he makes them. Either change the rules so that you can move $ between TFSA accounts during a year. Or make it that any TFSA that is a variable rate savings account is not allowed to 'reduce' the interest rate that the account was opened with until the end of the year and without 2 months written notice to the customer. The former would much easier, why is it not this way now anyhow (i.e. being able to move $ between TSFA accounts during the year, why do you have to wait)?Last year I made the exact same $100 in ING I would have with Ally during 2009, except I got an additional $70 from the TFSA kickstart where they doubled the interest for 3 months
I'm asking for Ethics to be in the banking industry, which, using your words, this is 'Not bloody likely' I guess. However it seems that it is often suggested that the lack of this is what got us in the mess we are in (were in?).Or make it that any TFSA that is a variable rate savings account is not allowed to 'reduce' the interest rate that the account was opened with until the end of the year and without 2 months written notice to the customer.
Not bloody likely. I agree the "introductory offers" on high-interest savings accounts are a marketing ploy. But you can't expect the banks to change these savings accounts into cashable GICs with no penalty for cashing early, which is effectively what you are asking for.
1% is big if you are talking returns of 1 - 3%, 33% - 100% difference.I don't understand why people get so spun up over 1%. Lots of things in this world make me sick but ING doesn't come close haha
Like I said ING still paid out more than Ally in last years TFSA, by 70%!!
You can transfer your money to another TFSA and ING is one of the few who won't charge you $50 to do so
Actually, it is already this way.The former would much easier, why is it not this way now anyhow (i.e. being able to move $ between TSFA accounts during the year, why do you have to wait)?
LOL, that's always a gimmick by any company that says so (not just a bank).ING used to really sell products that almost matched their advertising about caring about your money and them not just being another 'big bank'
>> You can move your TFSA accounts between financial institutions as much as you wantActually, it is already this way.
You can move your TFSA accounts between financial institutions as much as you want, as many times as you want.
LOL, that's always a gimmick by any company that says so (not just a bank).
ING is one of the largest financial institutions (at least in Europe) and they have their fingers in all sorts of pies, not just retail banking.
For them to claim that they are out there "for the small man on the street" and that they are in the business of "caring for your money" is just BS.
For that matter, any company claiming that sounds like BS.
For them to claim that they are out there "for the small man on the street" and that they are in the business of "caring for your money" is just BS.
For that matter, any company claiming that sounds like BS.
I agree that a main reason I started this thread was because I did not think you could move TFSA $, period, until the next year. So the thread is someone pointless, except it is fun to see how long people think ING will stick to their marketing.LOL yea really
ING does not charge to transfer your TFSA out, unlike the majority who charge $50-$100 to transfer out. This thread is pointless because if the rate drops you're free to leave
I would say they still hold true to not-screwing-people-over-as-much-as-others. Even the coveted PCF charges $50 to transfer a TFSA
I'd rather trade stocks than savings accts all year
Do you need to use it when you open the account? I opened our 2 this afternoon so it maybe too late. Sorry FT (and me).Use FT's orange key and get an extra 25$
I just opened a TFSA account with Ally. Ally also allows moving a TFSA account for no fee. I find Ally and ING to be comparable in their rates.Now that I know you can move between TFSA accounts, I'll take ING up on their 3% as I want to hold some cash in case of a market drop, and when ING does drop the 3% or their is a market correction, I'll transfer to itrade, for free.
Is this a cash account CC? or GIC? If GIC, is it cashable - penalty free (aside from losing promised interest)?I just opened a TFSA account with Ally. Ally also allows moving a TFSA account for no fee. I find Ally and ING to be comparable in their rates.
When you create a new thread, scroll down to the 'Additional Options' section and there is an Add Poll checkbox (or some wording like that). Then when you create thread, you get taken to a section where you add your poll question and options.OK how bout telling us how to generate that "poll" in the OP. Or am I the only dumb one?
I opened a cash account but I'll consider their 1-year cashable GIC, which is cashable anytime and pays out the accrued interest if you do cash out. You don't lose interest. However, for the terms that are less than 1-year, you do lose the interest.Is this a cash account CC? or GIC? If GIC, is it cashable - penalty free (aside from losing promised interest)?
One + I will give to ING is that when you do transfer funds from them (RRSP or otherwise), the receiving bank gets it very quickly from my experience (within 1 week even for RRSP). I closed an RRSP account at RB and they took 2 - 3 weeks to transfer the funds to the receiving bank. It will be interesting to see how Ally compares on that front.I just opened a TFSA account with Ally. Ally also allows moving a TFSA account for no fee. I find Ally and ING to be comparable in their rates.
To be honest I picked Ally because I didn't know ING Direct allows you to move the TFSA account out to another institution. You learn something every day.