ING Direct Orange Key

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Archive for the ‘$25’ Category

What is the ING Direct Refer a Friend Program?

Posted by martinharford on August 27, 2009

For a relatively long time now ING Direct Canada has been offering a program to encourage their current customers to get people they know, whether friends, family or associates, to sign up for an account.

The program essentially gives both the person referring and the person being referred a small bonus as long as a certain minimal deposit amount.

The deposit:

Currently this minimum amount is $100 and can be deposited into any type of account with ING Direct.  This includes pretty much any account that ING offers whether it be RSP, TFSA or regular.

The reward/bonus:

While in the past the values of the referral bonus has varied a bit, typically $13 but the program has been cancelled at times and was $0 for a while.  Currently the reward is $25 for each the referrer and the person signing up.

According to ING Canada you are supposed to get the bonus within 24hrs of depositing the minimal $100 into your account.  Note the distinction between 24hrs from opening your account and 24hrs from depositing the money.  As the typical manner of depositing the money is a check in the mail this of course will likely be more then just one day and could be as much as a few weeks depending on how fast postal mail takes your check to Toronto.

Signing up & actually getting the bonus:

All this information is great, however I have left out one important part, how does ING Direct know that you have been referred to sign up for the account and hence how do you get the money for being referred?

Well, put when you are referred you should be given a referral code which ING calls an Orange Key.  How you get this key is relatively unimportant to them just as long as you use it when you sign up.

It is of course important to include the referral code when you sign up for whatever account you have chosen.  Without the code you will not be able to get the bonus money.

Getting the referral code or Orange Key:

As already stated as far as ING is concerned it doesn’t really matter where you get the code just as long as you use it when sign up.  In fact they’d probably prefer that you didn’t use it when you sign up since it would save them money.

So where do you find a code?

Well maybe you have a friend that is already an ING Direct customer and as such would love to share their Orange Key with you.

Short of that you can of course search the internet for one as there are plenty of people out there who are posting theirs in various places all over the internet.  A word of caution with doing that is simply that the ones you might find may no longer be valid so just be sure that the number has been posted relatively recently.

You could of course use the one I have posted here (34908230S1), which I know is valid since I do find my account getting the bonus from time to time.  As you may guess this is my preference, but feel free to do however you like.

Conclusion:

While I wouldn’t necessarily say that everyone should just go out and sign up with ING Direct Canada just because they can get $25 when the do it.  I would say that if you are planning on doing so I would make certain that I had valid Orange Key since there certainly is no harm in getting yourself an extra bit of money.

Posted in $25, Canada, ING Direct, Online Banking, Orange Code, Orange Key | 19 Comments »

ING to offer a New Children Savings Account

Posted by martinharford on July 16, 2009

Recently, I was reading my messages I get from ING in my account screen and I noticed a new offering for a Children Savings Account, which they have abbreviate (as ING likes to do) as CSA.  Although I don’t actually have any children that could potentially benefit from this program I decided to read on (I’m a bit of an information junkie).

The short version of the story is that you can setup an account for a minor as long as you are a legal guardian.  Once set up, your child would have the equivalent of a regular ISA but you apparently have the ability to watch the account somehow.  There is of course one additional necessity, you have to be a customer of ING direct as well.

Additionally for a limited time ING is offering a $25 bonus for deposits of $100 or more.  There appears to be no option for the use of yours or anyone else’s Orange to get that bonus as well.

If this sounds interesting you can check it out at:

http://www.ingdirect.ca/en/save-invest/csa/

Posted in $25, Canada, ING Direct, Orange Key | 1 Comment »

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).

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