ING Direct No-Fee Chequing Accounts Open to Everyone - Free EMTs and more

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January 22 update: Good news! ING Direct's THRiVE Chequing Account is now available to everyone. It's one of a number of free chequing accounts out there but it's the most full featured by a fair margin. You can't get free e-mail money transfers, overdraft protection, and interest on your balance together in any of the other free chequing accounts.

Originally posted August 26: Very soon, ING Direct will offer Canadian customers a no-fee chequing account called "THRiVE Chequing". Here are some of the features that might interest you:

an interest rate of 0.25% for balances of $0 - $49,999, 1% for $50,000 to $99,999.99 and 1.1% for $100,000 and more.
ING "Whoops!" overdraft protection covers you for up to $250 in overdrawn funds without fees or interest provided money is paid back within 30 days
no-fee bank machine access to The Exchange Network
free email money transfers and free first order of cheques (20), additional cheques are 20 for $10
email notification every time you make a withdrawal

10,000 accounts will be available on September 14. You can learn more about the account here and pre-register if you are an ING Direct customer.

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Source: Gdc, deal_king, djino via the Hot Deals Forum, The Globe and Mail

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- _leech_
- Yup, just got the email a few minutes ago. Looking forward to dropping CIBC and the random fees.
- Jon Lai
- From what I recall, PC > ING because ING doesn't have infinite cheques right? Or is that different now?
- djino
- From what I recall, PC > ING because ING doesn't have infinite cheques right? Or is that different now?
  Correct, though first 20 booklet of cheques are free, then its $10 per booklet after.
  
  But I suppose the unlimited ING-EMT (Email money transfer) will make up for the non-free cheques (at least for me).
  
  djino
  
  EDIT: Also, being able to instantly transfer between savings to chequing with ING makes ING > PC (imho)
- muchacho_007
- Honestly, I only have 1 person that I have to write cheques to now... my childcare provider. I have asked them if there is any other way to pay them, but they refuse to get updated methods.
  
  I love using the e-mail money transfer option, it works better than cheques.
- Sanchez
- Does ING offer full INTERAC email money like the big banks do, or is it some home grown variant?
- djino
- Does ING offer full INTERAC email money like the big banks do, or is it some home grown variant?
  Nope. That's the sad thing about it.
  
  Its basically like making a bill payment. So it will take the normal 2-3 business days, but it can be sent to any person with a Canadian Bank Account.
  
  djino
  "Now if anyone could confirm if it works internationally, then it would be very useful"
- Vasyl
- The lack of free cheques precludes me to make this account as my main account.
- Gdc
- I still don't have the option to open my chequing account. (Nor received an email)
  
  I'll wait till 17h00 then I'll call them.
- djino
- I still don't have the option to open my chequing account. (Nor received an email)
  
  I'll wait till 17h00 then I'll call them.
  Did you request an invite months ago?
  
  Did you receive the email as I did above?
  
  djino
- Gdc
- Did you request an invite months ago?
  
  Did you receive the email as I did above?
  
  djino
  I requested an invite about 2 hours after the Thrive preview opened.
  
  It shows me that Iâm registered on my ING account and I didnât receive an email.
  
  I'll be calling them soon.
- somethingorother
- Awesome, I'm definitely going to be taking advantage of this...1 account for me, and another joint one with the GF for shared expenses.
  
  Paying 50 cents a cheque is not that big of a deal for me, since I only write 1 cheque a month for the rent (free e-mail transfer will come in handy when sending money to other people) Plus you only have to order 20 cheques at a time, not 50 or 100 like TD.
  
  Not sure if I will cancel my TD chequing account outright (especially since I still have ~40 cheques not to mention RRSP's and a Visa) but will downgrade to their cheapest account at the very least.
- dcyeung
- what I don't like is that it takes a week before you can even access your money
- djino
- what I don't like is that it takes a week before you can even access your money
  That's common to all Banks that have Bank to Bank Transfers where one is setting up to the transfer funds into said account from an external bank.
  
  PCF / HSBC, etc all holds funds if you initiate a transfer from the receiving bank account.
  
  Otherwise, Deposits should be cleared right away up to your hold limit. And Bank to Bank Transfers should have no hold if you are setting this up from the sending bank account.
  
  djino
- high_octane
- The lack of free cheques precludes me to make this account as my main account.
  This account is not meant for those stuck in the 80's
- Vasyl
- This account is not meant for those stuck in the 80's
  Tell this to my landlord and childcare for my son.
- angel_wing0
- thanks dijno, going to open one now yessssssssssssss
  
  The lack of free cheques precludes me to make this account as my main account.
  indeed, and being able to link only 3 external account sucks too.
  
  Now just got to wait for the ATM card and cheques...
  
  can u link the isa and chequing to the thrive card? Since apparently i cant do that with the isa atm card orz
- djino
- This account is not meant for those stuck in the 80's
  I agree. but to be fair, there are still companies / landlords / etc that still only accept cheque as payment. So the Tennant has no open but to give cheques.
  
  djino
- ladybaby
- i am lovin' it
- Jon Lai
- Correct, though first 20 booklet of cheques are free, then its $10 per booklet after.
  
  But I suppose the unlimited ING-EMT (Email money transfer) will make up for the non-free cheques (at least for me).
  
  djino
  
  EDIT: Also, being able to instantly transfer between savings to chequing with ING makes ING > PC (imho)
  That's the first booklet of 20 cheques right, and not the first 20 booklets (of X amount of cheques)?
- angel_wing0
- That's the first booklet of 20 cheques right...
  right, i wish it was the first 20 booklets lmao
- djino
- That's the first booklet of 20 cheques right, and not the first 20 booklets (of X amount of cheques)?
  My Bad. "First booklet of 20 Cheques"
  
  djino
  "Thanks Angel!"
- muchacho_007
- Awesome, I'm definitely going to be taking advantage of this...1 account for me, and another joint one with the GF for shared expenses.
  
  Paying 50 cents a cheque is not that big of a deal for me, since I only write 1 cheque a month for the rent (free e-mail transfer will come in handy when sending money to other people) Plus you only have to order 20 cheques at a time, not 50 or 100 like TD.
  
  Not sure if I will cancel my TD chequing account outright (especially since I still have ~40 cheques not to mention RRSP's and a Visa) but will downgrade to their cheapest account at the very least.
  I'm sure that your landlord would also like to receive the cheques by email - wont have to drive down to pick them up.
- poptarts
- i am lovin' it
  It's not McDonalds, it's a bank.
- Gdc
- Someone else's not able to open the account even if you signed to the preview?
  
  Just called ING and the CSR told me that I haven't been selected to open it today... and told me to wait till Friday.
  
  I'll wait and call back in 1 hour or tomorrow if I'm the online one with this problem.
- djino
- I'm sure that your landlord would also like to receive the cheques by email - wont have to drive down to pick them up.
  I think most would still prefer to receive 12 post dated cheques.
  
  They won't have to worry that you'll forget to pay them and won't have to drive down to come see you to pick up cheque.
  
  djino