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ING DIRECT Canada accounts to get new names
January 8, 2014
5:18 pm
British Columbia, Canada
Forum Posts: 4077
Member Since:
December 12, 2009
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I don't always read every quarterly ING DIRECT Canada newsletter but, the "Winter 2014" newsletter (PDF format) was particularly interesting. Aside from re-announcing the name change and rebranding in April 2014 to Tangerine, they also announced that all of ING DIRECT Canada's accounts, some with particularly its long-standing Investment Savings Account and unmortgage which they've had either since or almost since their inception in 1997, would be renamed as well.

The Investment Savings Account is dropping the "investment" moniker and will just be "Tangerine Savings Account".

A bit of a big surprise to me, after only 3 and a 1/2 years since it launched in "beta" format, THRiVE Chequing Account will simply be "Tangerine Chequing Account".

Also, "unmortgage" will simply be known as "Tangerine Mortgage".

The various registered variants of the "savings account" products will also adopt the Tangerine moniker, such as the Tangerine RSP Savings Account, Tangerine Locked-In RSP Savings Account, Tangerine RIF Savings Account and Tangerine Tax-Free Savings Account (or Tangerine TFSA for short).

I would assume a formal customer notification, delivered either via e-mail or regular mail and on their website, would be coming at least 60 days before the new Tangerine name kicks in, as they are required by law to provide that notice of such changes (i.e., changes to product names, service charges, or product features). So, once it comes out, that will give us a firm date at which point the new Tangerine name will launch.

Also, it's unclear whether or not ING Bank of Canada will transfer ownership of its "forward banking", "unmortgage" and "THRiVE Chequing" trademarks to its parent, The Bank of Nova Scotia. It would make sense for them to do this since BNS directly owns the "Tangerine" (and variant) trademarks.

Also, if you look on page 2, they have a screenshot of the new Tangerine website. Doesn't it look like it might move to the Scotiabank online banking platform? They can still keep the best features of the ING DIRECT Canada online banking platform (i.e., holds enquiries, pending transactions, customizable PDF forms, bank-to-bank transfers etc.) and merge those features with Scotiabank's (perhaps faster posting of EFTs/direct deposit transactions? and some others I can't think of right now) and integrate them on a common platform. As well, they can still keep "Tangerine Bank of Canada" as a separate CDIC member and not allow in-branch access at Scotiabank branches whilst still using the merged ING DIRECT Canada/Scotiabank technology platform. :)

It'll just make it easier to: (a) integrate Tangerine with Scotiabank ABMs, likely replacing The EXCHANGE ATM Network later in 2014 and (b) launch a Tangerine Credit Card.


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