How to open a checking account at Tangerine?

Everything at Tangerine is done online… opening a checking account is no different: you can do it in 10 minutes (at the most) from the comfort of your home computer while you are in your pajamas. What I have found so far about Tangerine (formerly ING DIRECT) is that all procedures can be done with an extreme simplicity and from the comfort of your home.

Tangerine calls its checking account: Tangerine Checking Account. It was called THRiVE Chequing Account in the times when the bank was called  ING DIRECT.

Most checking accounts in Canadian banking institutions charge you a monthly fee. This is ridiculous if you ask me: banks are profiting from our own money, but that’s not enough for them: they still charge us a monthly fee for having our own money within their grasp, money from which they are profiting already.

This is what a Tangerine Checking Account has to offer:

• NO MONTHLY FEES. Ask yourself if your current bank charges you a monthly fee and ask yourself if you should be paying for it?
• Unlimited transitions: once again, you can perform unlimited transitions at Tangerine for free.
• Earn interest on the money you put on your Tangerine Checking Account (yes, you heard well: this is a checking account that pays interest, just as saving accounts do).

I am not going to load you with more details…if you want to know more about the benefits of opening a Tangerine Checking Account come here: http://www.tangerine.ca/en/chequing/chequing-account/index.html.

Now, in order to open a Tangerine Checking Account you have to do only TWO things:

1. Complete an online form that won’t take you more than 10 minutes. I am not exaggerating: this form won’t take you more than 10 minutes to fill. In order to fill the form click here: Open a new Tangerine Checking Account.
2. Write your initial deposit cheque (payable to yourself) for at least $100, and mail it to Tangerine Bank, 3389 Steeles Avenue East, Toronto, Ontario, M2H 3S8. Note: all new clients of Tangerine opening accounts for at least $100 bucks get a $50 bonus. What does this means? It means that you open your account with $100, but you are credited with $150; so Tangerine welcomes you with $50 bucks.

That’s all: by completing the two steps above you will open a Tangerine Checking Account, that will treat you with unlimited transactions, no monthly fees, saving interests and a $50 bucks welcome gift.

If you have any questions, drop a line in the comments section below. I’ll do my best to answer.

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How to open a checking account at ING DIRECT?

ING DIRECT (Canada) was re-branded (renamed) as Tangerine as of Tuesday April 8th, 2014.

For instructions about how to open a checking account at Tangerine go to the following up-to-date article: How to open a checking account at Tangerine?

Tangerine kept most of the things from ING DIRECT. In their own words: “We’re changing our name, but we’ll never change who we are”. From the customer’s perspective, it was mainly about changes in the names of the services (products) provided and the organization itself.

Here is a summary of the name changes (old account names to the left and the new names to the right of the -> symbol):

• THRiVE Checking Account -> Tangerine Checking Account.
• Investment Savings Account (ISA)  -> Tangerine Savings Account.
• unmortgage ->Tangerine Mortgage.
• ING DIRECT Streetwise Portfolio ->Tangerine Investment Funds.
• Streetwise Balanced Income Portfolio ->Tangerine Balanced Income Portfolio
• Streetwise Balanced Portfolio ->Tangerine Balanced Portfolio.
• Streetwise Balanced Growth Portfolio -> Tangerine Balanced Growth Portfolio.
• Streetwise Equity Growth Portfolio -> Tangerine Equity Growth Portfolio.

The only real change I see as a customer, is the about the access to ATM machines. In the times of  ING DIRECT, THE EXCHANGE  Network was used for free. This will continue to be free until September 30th, 2014. After this date, you won’t be able to access ATM machines THE EXCHANGE  Network for free. This will impact some people I guess.

Instead you could use the Scotiabank ABM Network (containing nearly 4000 machines) and the Tangerine ABMs (which allow you to withdraw US dollars) for free.

Tangerine (formerly ING DIRECT) is a great banking alternative to the traditional ones (RBC, TD, Scotiabank…).

With Tangerine (formerly ING DIRECT), you don’t pay monthly fees, you get interest even on your checking account…You won’t be disappointed. My advice: switch to Tangerine. For details click the following link: How to open a checking account at Tangerine?