How to Open an ING Direct THRIVE Chequing Account

I am already a satisfied customer with ING Direct, now Tangerine.ca. I have a savings account and some RRSP investments. Today I decided to open a THRIVE Tangerine chequing account. My procedure is a bit easier than that of a new customer who has never opened a Tangerine ING account. I will not have to show proof of my identity or send a new void cheque to link my account to my bank account at another institution. Here’s how

I opened the chequing account.

Opening a new Chequing Account at Tangerine

1. Go to: http://www.tangerine.ca
2. Click on I’m a Client, Let Me In! and sign in to your existing account.
3. From the list across the top of the screen, click on the Open a New Account tab.
4. Click to select the radio button under Chequing.
5. Click on the Learn More button.
   Read through the information on Features; Security; and Fees.
   Check the types and costs of fees to make sure this account will meet your needs.
6. If it looks good, click on the Open an Account button.
   1. In the Amount field, type in the amount you’d like to fund your account with.
   2. If desired, add a Nickname by typing it in the Nickname field.
   3. In the Fund from this Account: section, from the drop-down list, select which account to add the money from. Remember if you add it from an external bank or financial institution it will be placed on hold for 5 business days (or more.) If you need to write a cheque or make a payment immediately, you will need to fund it from your Tangerine Savings account from funds that are not on hold.
   4. If desired, click on the Yes button beside the Is this a Joint Account? question. This will not be immediate. You will probably have to submit some other information.
   5. In the Contact Information field, ensure that your address and email address are correct. If necessary edit them.
7. In the Legal section
   1. Confirm that you are the only person who will benefit from the account
   2. Choose the intended use for the account from the drop-down list. Choices include Daily Banking; Home Purchase; Retirement; Personal Savings; Purchase a Vehicle; Vacation Leisure; Education; Emergency Fund; Other
   3. Read the terms and conditions and if you agree click on the Yes button. (Or on No, if you disagree.)
   4. Click on the Next button.
8. Confirm you want to continue creating the account.

You’re done! Go and set up some Payees for bills and pay your bills!

Would you like to order cheques for your Tangerine Account?

Simply navigate to your Chequing Account after enrollment and click on the Order my Cheques link. Your first 50 cheques are free!

The following is the Tangerine Hold Policy as of March, 2013:

“Tangerine may place holds on money deposited as outlined below:
These terms are still posted on their site on June 2014.

• 0 business days for government cheques
• Up to 5 business days for Electronic Funds Transfers (EFT)
• Up to 5 business days for all cheques, drafts, and money orders and US cheques drawn from a Canadian financial institution
• Up to 10 business days for a new external link to a business account
• Up to 15 business days for USD deposits from outside of Canada
• We [Tangerine] consider Saturdays, Sundays and national holidays to be non-business days.”

Related Reading

• How to Set Up Automatic Transfers to a Tangerine.ca Account
• How to Cancel a Tangerine.ca Automatic Savings Program (ASP)
• How to Choose a Standard Bank Tax Free Savings Account, TFSA, with Minimal or No Fees

Join In
Do you use a Tangerine Chequing account or another online chequing account? What features do you like? Please share your experiences with a comment.