ING DIRECT launches online no-fee chequing account

The bank that brought Canadians the first mobile banking site accessible on all platforms is now bringing to Canada what promises to be a popular banking option for many of us: an online, no-fee, interest-bearing chequing account.

 ING DIRECT today announced the upcoming launch of THRiVE Chequing, an online, no-fee daily chequing account that will enable Canadians to deposit, withdraw or transfer money for free, all while earning interest.  

According to a recent national poll conducted by Angus Reid Public Opinion on behalf of ING DIRECT, a quarter of Canadians are simply unaware of how much they pay in monthly bank fees, which on average is about $185 annually. 

When asked the likelihood of switching to an online, no-fee chequing account if one was available, 75 percent of Canadians said they would, with 38 per cent saying they are “disgusted” by their chequing account fees and 66 per cent citing their current banking fees as unfair.

Peter Aceto is the President and CEO of ING DIRECT Canada:

The THRiVE Chequing account is a true game changer. It redefines what Canadians should expect – even demand – from a chequing account.  ING DIRECT Clients will be able to perform day-to-day transactions like bill payments, purchases and money transfers without the hassle of a monthly bank service fee or account minimums. Like all of our products, THRiVE Chequing will save our Clients time, save them money and make their lives simpler.

THRiVE Chequing will also offer Whoops! Protection, an industry-first feature that covers Clients up to $250 on overdrawn funds with no fee or interest, provided funds are paid back within 30 days.

Starting today, ING DIRECT Clients can register for the THRiVE Chequing Account preview and on September 14, ING DIRECT will invite its first 10,000 Savers into the Client preview. To learn more about the THRiVE Chequing account preview or to register for it, visit www.your185.ca.