ING Direct Orange Key

How to save money and earn extra money with banking

Archive for June, 2009

ING Direct increases sign up Bonus to $25

Posted by martinharford on June 30, 2009

For years now ING Direct Canada has been offering a sign up bonuses of $13 to new customers.  This is most likely of no news to most people familiar with the company.

However, as of June 30, 2009 they have decided to increase they’re offer from $13 to $25.

The same speculations of course still apply:

  • Deposit $100 into your account
  • Enter the Orange Key when signing up
  • The account being with the ING Direct Canada portion of ING Direct (other divisions have different promotions)

This is a considerable increase in their incentive considering that it is a 25% return with no requirement for further investment.  Add to that the fact that ING Direct also gives an equal amount to the person referring the other this means that ING Direct is giving away a whole 50% of the initial investment, which could then be simply withdrawn from the account (I assume there are time restrictions which I haven’t read further into) this is very considerable.

However, I imagine that ING Canada is of course assuming, presumably rightfully, that most people will invest more then the minimum amount and likely for an extended period of time.  This making the value to the company more than that of the few that may choose to abuse the system.

There has been a little bit of confusion online with people advertising that they have a “rare” $25 Orange Key.  This is in fact incorrect as of June 30, 2009 all valid Orange Keys that previous were giving $13 are now giving the new amount.  So if you have an old number that a friend gave you but you heard about the new amount feel free to use to get the higher amount (although you might still feel safer just asking him or her to be sure).

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Posted in $25, ING Direct, Online Banking, Orange Code, Orange Key | 5 Comments »

Get $13 free from ING Direct Canada (now $25)

Posted by martinharford on June 23, 2009

ING Direct Bank of Canada is a web based bank available for all residents of Canada who have valid Social Insurance Numbers.

One great advantage in having an account with this bank is that their interest rates are very favourable in comparison to that of the other mainstream banks available in Canada. This goes for both investing money with them (ie Savings Accounts) as well as borrowing money at a lower rate.

Unfortunately, for some, this comes with a bit of a draw back, since in order to achieve these great rates ING has very few locations that are available to speak to a person face to face. Which may come as an inconvenience, however they’re very accessible website as well as they’re phone availability makes up for most who do not need that service.

A program that is only somewhat well known by the public is ING’s Orange Key promotion which allows new customers to sign up with a $100 deposit and receive a $13 bonus in their account. Unfortunately for some times these keys are not readily available (one know key is 16157624S1 which worked at the time of writing).

Keep in mind that you need to be a Canadian Resident with a valid Social Insurance Number in order to open an account with ING Direct. And of course you need to both enter in a valid Orange Key (ie the aforementioned 16157624S1) as well as deposit $100 before you will be given your money.

Update: As of June 30, 2009 the bonus about has been increase to $25

Posted in Canada, ING Direct, Orange Code, Orange Key | 11 Comments »