September 23 2010 by Ellen Roseman
You will get instant access to an ING Direct savings account (if you have one) through bank machines and point-of-sale purchases once the bank launches its Thrive no-fee chequing account early next year. Some people are already enjoying a trial preview.
I did a column yesterday comparing ING’s no-fee account with President Choice Financial’s account and found some interesting differences.
“No-fee chequing” means you don’t pay for cheques or chequing transactions, in my view. That’s how President’s Choice operates. But ING is giving 20 free cheques at first and making you pay $10 for any 20-cheque order you place in the future.
I think ING is stretching the truth, as frequent poster Bylo pointed out here. But the executive I spoke to said that most big banks give you only one or two blank cheques and charge for the rest.
As usual, my readers had lots of interesting comments, which I’ll post below.