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Discussion Starter #1 (Edited)
ING officially anounced they are developing a chequing acct!

What's Free

Daily online chequing acct with no minimum balance or monthly fee
Unlimited Interac purchases
Unlimited EMTs (Email Money Transfers)
Unlimited bill payments
Unlimited withdrawals/deposits to The Exchange Network ATMs
Overdraft protection ($2.50 late fee per month after 30 days)
First Chequebook of 20 ($10 per additional chequebook)
Online cheque images
1 Stop payment per year ($10 per additional)
1 Replacement client card per year ($15 per additional)
Mobile banking (see balances, transfer money, send EMTs, pay bills, locate ATMs)
Email Alerts

What's Not

Canadian Drafts (includes 1-2 day courier or 1 day pick-up at Café service) $10/draft
NSF (Non Sufficient Funds) Cheques $25
Subsequent cheque books (20 cheques) are $10

Not only is it free, it pays interest! Only 0.25% but there is no minimum balance so I can move thousands to whatever investment/savings I chose

I signed up for the beta since I already have savings accts there and it's free anyways. If I like it.. maybe I'll take TD's $250 and run.

You may want to wait and see if they have a joining bonus
 

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For the people of Quebec this is good. Apparently you guys cant open a PFC account??

I am opening an account just for the free email money transfers. I will link with a cheque between PFC>
 

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I'm with TD and I keep a minimum of 2000$ in my chequing account to avoid any fees. I get 25 transactions per month.

Opportunity cost of 2000$ @ 1,5% (current ING rate) of about 30$ minus Income Tax of say 30%, so real cost would be roughly 20$ / year.

Biggest concern is to avoid dropping even one cent below the threshold and getting hit with a 8,95$ fee, I'd switch for that peace of mind more than for the 20$/year of interest on the 2000$.
 

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Discussion Starter #10
Yea I can see people being concerned with the lack of ATMs. If you live on a rewards CC it's not a big deal though

In the Saguenay there are actually more Exchange ATMs than Big Banks (There's 1 TD branch/atm for 150k+ and it's 20 min drive away from me, 1 BMO branch but at least there's 1 additional atm nearby..) I'm used to living without "Big Bank" ATMs from traveling out of country and living in Quebec

It's not that big of a deal though. It just takes some foresight to take out cash in advance. I only need cash at times for coffee, taxis, splitting bills and haircuts.

If I need an emergency ATM, it is handy to have the mobile app and GPS
 

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When you go under the tab, "move my money" you can do a transfer to an attached bank account (PCF)

With PCF, just send them one ING cheque and they will attached that account for free transfers as well.

So use PCF for the free cheques and CIBC and PCF ATM's. Use ING Thrive for email money transfers and free overdraft. (must be paid back in 30 days I believe. )
 

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It depends on how many withdrawals/cheques/debiets you have per month. I pay $4 per month on fees at RBC.

Banking fees irk me but the hassle of switching accounts is something I don't want to go through. So I pay. :(
If you have more than 1 financial product with RBC, this fee is waived. I have an RBC Visa and a RRSP account and I have not paid this fee for the past 4 years I believe.
 

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One thing I'm not quite clear on with Thrive: is there any way to connect it to e-Post? I receive most of my bills via e-Post, which is linked to my current bank, so I can both receive and pay my bills online with one login within my bank's online interface. That's very convenient. I can't tell whether Thrive will let me do that or whether I'd have to log into e-Post separately to see my bills, and then log into ING to pay them.
 

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Discussion Starter #14
Hopefully if they don't people will bring it up during the beta and they will listen

I find that ING has one of/if not the best online banking sites there is. You can tell they try to think of everything to make online banking better than brick-and-mortar. They do have a built in message system so I imagine e post would be the same

Their website I think is their advantage over PC
 

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One thing I'm not quite clear on with Thrive: is there any way to connect it to e-Post? I receive most of my bills via e-Post, which is linked to my current bank, so I can both receive and pay my bills online with one login within my bank's online interface. That's very convenient. I can't tell whether Thrive will let me do that or whether I'd have to log into e-Post separately to see my bills, and then log into ING to pay them.
As of right now e-Post isn't available with the ING THRiVE chequing accounts.
 

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I got an invite a week or so back, I didn't open an account until today. I sent an email money transfer and the receiving person said it will not accept on his end. He even called ING Direct and they didn't know why it's not working. Everything was good on my end, but I cancelled the transaction now and just sending regular cheque from PCF.

Anyone else try the email money transfer with success?

Apparently they also corrected a big crash where they were not accepting common bill payments. But this has been corrected. A few hick-ups have we?
 

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Discussion Starter #18
I got the invite and signed up on day 1. Seeing as it is a beta I kept my old acct open to pay bills. I wasn't surprised they had an issue but they did fix it the same day on a weekend

I hope they improve the EMTs. At the moment it seems they are only really good if you are paying someone with an ING acct, otherwise it is an EFT that takes a few days
 

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I too have been using this since the invite went out; so far it's working great for me. ING uses the same ATM network as my existing bank, so the limitations don't bother me; I have a limited-transaction account at another bank that I use for no-fee ATM withdrawls when I need cash and there's no ING-compatible ATM conveniently nearby. I can get 12 transactions per month at the other bank with no monthly fees by keeping a minimum balance of $1,500, so that's what I do.

I thought the lack of a link to ePost would be a dealbreaker, but it's fine: I still get my ePost notifications, but I just manage them on the ePost website instead of through my online banking site. An inconvenience, but only a minor one.

They make it easy to switch direct-deposit, automatic transfers, etc., and the process of switching banks has been much less painful than I thought it would be.
 

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Discussion Starter #20
ING is now offering a $25 bonus when you add a direct deposit by Dec 8 and $1 per bill payment up to $15

I was on the fence of switching but I think I will once I get my $250 from TD this month. Turns out I am actually moving to Europe this winter and ING may be the perfect acct for my Cdn funds
 
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