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Email this4:30 pm
September 21, 2009
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Finally have the $5000 (tfsa maxed out). I guess no one knows when they will be offering this promo again? Or should I just keep watching the forums?
I already put in $200 to ing direct, just to get $25 orange key bonus 🙂 Setup to auto transfer $5/month into account just to keep it active. Stick it to em 🙂
5:11 pm
not sure ING Direct has that offer...I've been with them for 3 years and have never been charged a cent for service charges
5:53 pm
i doubt we're going to see any of these incentives again until the demand for cash starts going up. right now the bank of canada is practicaly giving away all the cash it can print to any commercial bank that wants it. while there's no hard and fast rule, i believe commercial interest rates will have to climb beyond 4% before we start to see the online banks begin to lure depositors with cash signup bonuses.
5:34 am
September 21, 2009
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Oh well, I'll just leave it in the 1.85-2% range for now. Better than the craptastic rates the big 5 banks are offering though 🙂
In terms of fees and ing. I'm sure all banks charge a inactivity fee at some point. Could be years of nill deposits or withdrawals.
8:10 am
June 30, 2009
Offline
ING Direct charges no fees.
Canadian banks have a legal obligation to send written notification after 2, 5 and 9 years of account inactivity.
After 10 years the funds must be transferred to the Bank of Canada. Amounts under $1000 are held for 30 years before prescription. Over $1000, 100 years.
In comparison a certain big bank has the following policy.
An inactive account notice is sent when the customer has not performed any transactions between January 01 and December 31 for two consecutive years. An inactive account fee ($20) is charged each year the account is inactive, but notices are only sent after the 2nd and 5th year the account has been dormant. The fee will be waived if notice is acknowledged within 30 days of mailing date or if account is reactivated within specified time period.
If the account remains dormant for 9 years, the account is closed and the funds balance is transferred to Bank of Canada. $40 fee.
No need for $5/mo. auto transfers just to keep account active. Just move $0.01 in or out once a year. Just don't forget your account.
1:03 am
jacks said:
Finally have the $5000 (tfsa maxed out). I guess no one knows when they will be offering this promo again? Or should I just keep watching the forums?
I already put in $200 to ing direct, just to get $25 orange key bonus 🙂 Setup to auto transfer $5/month into account just to keep it active. Stick it to em 🙂
just close the account,last year I did it with ING, but it was for 50 dollars to sign up. closed the account a few months later
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