ING Direct Orange Key

How to save money and earn extra money with banking

  • $25 Orange Key “34908230S1”

    Simply enter this number in when signing up with ING Direct Canada, and receive $25 within 24hrs of depositing $100 into your account.

    Just type in 34908230S1 when signing up for an ING Direct Canada account. This is my code so we'll both get the bonus when it's issued ($25 each)

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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:


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

Moved from Blogger to WordPress

Posted by martinharford on July 12, 2009

I don’t believe it is a very big issue for most people as I do not believe there is much traffic on my yet for it to warrant a major uprising on this change.  However, I just wanted to appologize to anyone who may have been initially directed to the old location.  My reason for the change was simple I didn’t like the interface that was offered to me to edit my blog I found it a bit too much, that and the slight differences available to me here in wordpress make it a better match for me.  On top of it all I believe that working with the interface will make it easy for me to transition to a self managed WordPress blog if I were to ever decide to start one.

With that being said, welcome to my new location.  I hope you enjoy.

Posted in Uncategorized | 1 Comment »

What ever happened to the Non-Streetwise Funds?

Posted by martinharford on July 11, 2009

I was a bit curious about the mutual funds that ING Direct used to offer after writing my previous post about their Streetwise funds. So I decided to ask them what happened to them.

Well, it turns out that if you currently are an owner of any of these funds you’re in luck. You can still continue to invest in them as you had before, but of course you still have to call them to make any changes as well most likely a sales pitch about the Streetwise fund and why you should switch.

So if you are new to investing with ING Mutual funds, then I’m sorry to say that you cannot invest in their old portfolio. But I suspect it just as likely that you were unaware that there was a different list to choose from anyway. Add to my previously stated fact that I think the Streetwise funds are better for beginner investers anyway so I don’t think there’s any harm done. As well let’s be honest if you are a more advanced investor you’re looking for a company that lets you do online trades with better support then what ING has to offer anyway.

Overall, I think it was a great decision on the ING’s part to eliminate the old scheme and replace it with the three tier system they have now.

For those of you interested this is the sales pitch I received from ING Direct:

We no longer offer third party funds to our new clients. Only those clients that currently have third party funds with us can invest from our list of those funds. The Streetwise Fund is our simple one fund solution. It is the only fund available to our new clients since January 2008.
Please consider the Streetwise Fund. The Streetwise Fund is a diversified and balanced index fund. Research indicates to us that 80% of fund managers that try to outperform the market have not been able to consistently do so in the long-run. Therefore, why not go with the market? Instead of trying to outperform the markets, the Streetwise Fund goes with the market by replicating indices. The Streetwise Fund replicates indices for Canadian Bonds, Canadian Equities, U.S. Equities, and International Equities.

The average Management Expense Ratio for balanced funds in the market is 2.6% approximately. The Streetwise Fund is passively managed and therefore has a low Management Expense Ratio of only 1%. There are therefore more dollars left in your fund to work for you. There are no loads, and no commissions to buy or sell.

As with all mutual funds, there is no guarantee of the principal or the returns. There is an element of risk. Investing in a diversified fund for the long-term gives a client the potential of outperforming interest bearing accounts.

Posted in ING Direct, Mutual Funds, Non-Streetwise | Leave a Comment »

ING Direct Streetwise Mutual Funds

Posted by martinharford on July 8, 2009

Some time ago ING Direct Canada started offering Mutual funds as a part of their investment offerings. What was nice about this is they had a reasonable mutual fund portfolio to choose from. What was no nice was that you had to call ING Mutual Funds every time you wanted to make any changes to your holdings. Additionally every time you would call they would ask you to update you “risk” portfolio which in my opinion has absolutely no value and only takes up time making changes. I would have appreciated the ability to change and rebalance automatically or online but that was not available.

Fortunately since then ING has started offering a new series of “Streetwise” mutual funds. These funds are simply investments in different index to different degrees depending on which of the three you pick.

Streetwise Income Fund

  • 70% Bond Index
  • 10% Canadian Stock Index
  • 10% US Stock Index
  • 10% International Stock Index

Streetwise Balanced Fund

  • 40% Bond Index
  • 20% Canadian Stock Index
  • 20% US Stock Index
  • 20% International Stock Index

Streetwise Growth Fund

  • 25% Bond Index
  • 25% Canadian Stock Index
  • 25% US Stock Index
  • 25% International Stock Index

Further explaination of the funds

Personally I think this is a very good option for someone just starting out with investing (ie less then $50,000 in investments) because:

  1. No buying or selling fees
  2. Low minimum initial investment
  3. Invests only in indexes keeping the managment fees low (currently 0.8%)
  4. Great diversity in one fund

There are quite a few index funds out there but to my knowledge none that are provide the diversity found in these. And of course statistically indexes outperform most manage funds in the long run especially considering the increased management funds involved.

For those of you interested in reading the actual prospectus you can get it here:

Posted in ING Direct, Mutual Funds | Leave a 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 »

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 »