ING Direct Orange Key

How to save money and earn extra money with banking

PC Financial or ING Direct?

Posted by martinharford on July 28, 2009

Admittedly, I am a person who deal with banks almost exclusively over the internet and phone.  Years ago I was a customer of RBC (Royal Bank of Canada) who I effectively choose by default due to it being the only bank in the town I lived in.  Since then I have decided to switch to switch to online banks due mainly to the fact that there are no fees and they have higher Savings & GIC account interest rates.

Initially I chose to go with PC Fincancial, the bank which is linked to the Canadian grocery chain Loblaws (although it has many different names).  And later decided to add ING Direct to my mix.

While selecting a bank I had a fair amount of decision making to like you do always.  Which leads to the typical questions:

  • What is so great about ING Direct?
  • What is so great about PC Financial?
  • Which one is better?

What’s so great about ING Direct?

Savings Rates

While not the absolute top for interest on a savings account, ING Direct typically offers interest rates near the top of all banks in Canada.  Additionally, ING frequently has some promotion going on where you can get a higher interest rate for at least a few months.

Mutual Funds

As I have already stated in a previous post ING’s streetwise mutual funds are a pretty quick and simple choice for anyone starting out in mutual fund investing.  Although I think it’s probably a good choice also for those people who have been doing it a long time too.

Free debit card

You get an ING debit card that you can use to withdraw from your account.  I personally have never used it since I primarily use my PC debit for most transactions.

Some free money

For those people who are new customers and have a promotion code to enter (ie Orange Key)

No fees

As with most online banks they do not charge you for any of their services.

What is so great about PC Financial?

(Almost) Full Service Bank

PC Financial offers all the services of a brick and mortar bank.  You can have a checking account, choose from one of several savings accounts, GICs, a MasterCard, etc.  PC uses CIBC bank machines so you don’t have to pay for ATM fees at any of their machines.

I say almost because I know of people who have switched from PC Financial due to them needing services that are not offered.

Free checks

When you set up a checking account you will be sent a free book of checks.  And you can get additional checks whenever you move (with your new address) or when you run out.

PC Points

When you use your card and most especially you PC MasterCard you get free points which can be redeemed against your purchases at any Loblaws stores or their subsidiaries.  The most significant is the points you get with your MasterCard which comes to the equivalent of 1% cashback.

Savings rates

Like ING, PC Financial has fairly high interest rates, although at the time of writing ING is higher.

Few fees

For most services PC doesn’t charge, such as using your debit card, monthly account fees etc.  However, they do charge for the typical bank extras such as NSF (non sufficient funds) and like, which I would imagine ING does too.

Which one is better?

This is a tough one, if you are in need of a bank and need a checking account (who doesn’t?) then you are likely to choose PC Financial at least for that.

If you are just looking for a safe and easy place to put your savings I would think ING would take top prize.

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11 Responses to “PC Financial or ING Direct?”

  1. […] This post was Twitted by MartinHarford […]

  2. PinkPanda said

    New Working Orange Key – 35821095S1

    Open an ING account with a minimum deposit of $100 and use this key to get $25 bonus.

    Thanks m(_ _)m

  3. Melanie said

    WARNING!!! Do NOT use the orange key on this site. It has already been used up and can no longer be used. You CANNOT take advantage of ING’s free $25 using it. I opened a new ING account using the number on this site. I thought I was gonna get $25 free, but later found out that the Orange Key was expired. I managed to call ING and explain the situation.

    Luckily, they let me use another Orange Key (one that’s VALID). If anyone wants a WORKING, VALID Orange Key go to this site:
    http://ingdirect-orangekey.blogspot.com/

    I’ve confirmed that this Orange Key is VALID and WORKING. It was recently created and never used before so it WILL NOT EXPIRE for a while.

    Cheers and HAPPY SAVING!,
    Melanie

  4. Joe said

    warning do not listen to the moron in the comment above…feel free to use this sites orange key, or mine 33885729S1 or one from my site, http://ingdirectcanada-orangekey.blogspot.com/2011/08/ing-direct-canada-orange-key-referal.html

  5. blairg said

    Verified and working New Orange Key Code: 19589449S1
    (as of October 17 2011)

    19589449S1

    Use this INGdirect.ca Orange Key to get your free $25 from INGdirect.ca when opening a new account

    Sign up for an ING Direct Savings Account or TFSA or any other type of account (Thrive, TFSA, ISA, RRSP, Mortgage).
    Paste the Orange Key code in the specific box at the bottom right of the form/page and fill out the rest of the form.

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  7. Mike said

    Just leaving my Orange Key for anyone in need of it.
    Fresh Key as of late March 2012 so it’s 100% working.

    39347159S1

    http://www.ingdirect.ca/referafriend/

  8. Steve said

    Here’s a new and valid Orange Key

    17089661S1

  9. jamie said

    2013 new orange key
    free to use and get $25 moneyback from ING

    40082469S1

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  11. Chris said

    Tangerine Orange Key – 34427019S1

    Become a new Tangerine client and open a savings, chequing, TFSA or RSP account with an initial deposit of $100 or more and use Orange Key – 34427019S1 to earn yourself a free $50 deposit bonus.
    http://www.tangerine.ca/en/referafriend/index.html

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