Many people have wondered what changes are going to be made with Canada’s largest online bank, ING Direct, since they were acquired by Scotiabank in November, 2012. Friend of the blog Vanessa’s Money and nameless others who don’t matter were invited out to Toronto as ING Direct unveiled their new brand, Tangerine. Click on that link to see a lot of orange. So what I’m saying is that I’ve got the 411 on the ING Direct rebrand, assuming the kids still say 411.
Changes are minimal, really. The company announced they’d be officially changing over to the Tangerine name in spring of 2014, maintaining the ING Direct name for now. Additionally, the company pledges to not change a thing for current customers, meaning all existing bank cards will still work, all account numbers will stay the same, and so on. The transition is designed to be as seamless as possible.
A few other exciting changes are planned. The company announced intentions to come out with a credit card sometime in the future, something that isn’t much of a surprise. The lack of a credit card was the only glaring weakness in ING Direct’s product lineup, making this an easy decision. No word on any details, so allow me to make wild, baseless guesses. I think it’ll be a basic, cash back card with a few other options. As in, a good card, but not something you’d run out to get unless you’ve really drank the Tangerine kool-aid.
Additionally, Tangerine clients will have access to Scotiabank ATMs nationwide, at no additional fee. This is actually a big deal, especially for customers in Alberta or Saskatchewan, places where National Bank ATMs (ING’s current partner) are few and far between.
I reviewed ING versus PC Financial a few months ago, coming to the conclusion that both products were pretty comparable, and that the personal finance community had a bit of a thing for ING because it allowed them to use a referral to get paid when somebody signed up via their blog. ING has further cemented that relationship with personal finance blogs, even going as far as inviting a few to Toronto to join in the rebranding party. (And give free publicity. Kinda like this post actually. I accept cash/cheque/paypal/rolls of nickels, any ING people reading this.)
For clients, the best news out of the ING Direct rebrand is that nothing is changing. They’ve thrown a few extra carrots towards their customers, but for the most part it’s just status quo with a new name.
Oh, and apparently Macklemore played at the rebranding party, which might even still be going on. And some band called Walk of the Earth. Whoever they are, with their 118,000 Twitter followers.
— Janine (@apenny4athought) November 5, 2013
Is he cool? Help me out, people cooler than me.
Also, remember that party when your interest rates go down that little bit. Not that you’ll have enough money in the bank for it to matter, but still.