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Opening a joint THRiVE account
January 16, 2011
11:09 pm
Peter
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Forum Posts: 1149
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May 15, 2007
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I've opened a joint account with 3 financial institutions. In all 3 cases we already had separate accounts at the respective institutions, and neither of us have any special demands or requirements. The experience with the first, which shall remain unnamed, was so bad that we closed the account the following week. The second had a lot of paperwork to go through and seemed a bit more complicated than necessary, but was a relatively painless experience.

Opening a joint account with ING Direct was shockingly fast and easy. The process took about 5 minutes or less and was done completely online. The forms were clear, and the new account interacts seamlessly with our other ING accounts. The first batch of cheques have already been ordered. There's something about the simplicity of ING Direct: it's straightforward and it just works. That somehow keeps me there in spite of their middle-of-the-road rates. (Of course, with the THRiVE chequing account, the interest rate is not as important as it is with a savings account or GIC.)

June 22, 2011
12:14 pm
Max
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November 26, 2008
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Wow Peter, in just 10 lines you have convinced me to open a joint acocunt with my girlfriend. The other day she was just mentionning that is should be a good idea that we have checks with both our names labeled on it.

I'm opening this right now and in 5 minutes she will go straight to the Human Ressources department and get her Payroll transfer to our new joint account.

Can't wait to receive our checks!

Now that we have moved for our last time 1 year ago and now that evertyhing is definitive for the next 5 years, it will be good to have joint checks with our really address. Unlike the ones I'm using right now.

The day you become free is the day you work for fun.

June 23, 2011
6:07 pm
Doug
British Columbia, Canada
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December 12, 2009
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hey Max,

I'd still recommend opening individual THRiVE accounts as well, to make sure you both get the $100 bonus from ING.

Peter, yes you're correct. The ING account opening process, at least for sole accounts as I don't have any joint accounts, is remarkably straightforward. Even the credit bureau check is a so-called "soft" inquiry, unheardof for a chequing account. Plus, they have a decent hold policy (mine is I can deposit anything up to and including $1000 with no holds, anything over is held). I'm fine with that, same as what I have at Scotiabank, where my mom works. If you have more on deposit with ING, you can have a hold policy where anything up to and including $10,000 is not held. Plus, you can check your current hold policy online.

I've been impressed with ING and Ally both. Coming from someone working for HSBC, I consider that a compliment to them.

Cheers,
Doug

P.S. Props to Peter for his post. To Peter's new spouse, give him the $25 prize for the week!

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