Personal Finance

Setting up usd saving account with ING Direct

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  • Dec 7th, 2012 2:50 am
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[OP]
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May 28, 2007
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Mississauga

Setting up usd saving account with ING Direct

ING direct needs me to send a cheque payable to myself from my current account with Scotiabank. But I have no personal cheques for my USD daily interest account with Scotiabank. I was told by Scotiabank that I had to online order 50 personal cheques for 20 bucks plus, most of which I will never use. Is there any other way?
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Feb 24, 2008
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yellowsea wrote:
Nov 10th, 2010 11:29 am
ING direct needs me to send a cheque payable to myself from my current account with Scotiabank. But I have no personal cheques for my USD daily interest account with Scotiabank. I was told by Scotiabank that I had to online order 50 personal cheques for 20 bucks plus, most of which I will never use. Is there any other way?

+1.

I have some money sitting in RBC's U.S. eSavings account that I'd like to move over to ING and open up their U.S. Savings account, but I don't think I can nor would want to order cheques from this RBC account. Is there anyway to get the money into ING without converting to CAD?

djino
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Aug 15, 2006
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i have the ING USD account, opened it about 6 years ago and was pretty much forced into buying cheques so that i can link that account. Thats the thing i don't like about ING, don't know if things have changed since.
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Oct 30, 2009
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in same boat, thinking of opening account with ally but dont use cheques. i wonder if a pre-auth form from the bank would work?
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Jul 30, 2009
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djino wrote:
Nov 10th, 2010 11:36 am
+1.

I have some money sitting in RBC's U.S. eSavings account that I'd like to move over to ING and open up their U.S. Savings account, but I don't think I can nor would want to order cheques from this RBC account. Is there anyway to get the money into ING without converting to CAD?

djino

I am in the same situation. I have funds in the RBC US eSavings and want to transfer them to a USD investment account at TDW. Maybe a wire-transfer? Ideally i'd like to avoid fees though...I sent this question via the RBC online banking messaging system so we'll see what they say.
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Aug 7, 2010
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Less than 3 months ago I opened a US$ ING account to transfer some money I had sitting in my 0 interest CIBC $US account. I mailed to ING a pre-auth form from CIBC (showing the account number) and they opened my new account very very quickly (3 days I think after I mailed my form!). So you don't need a cheque!
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May 17, 2009
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Thunder Bay
Djino:

You can definitely link up your RBC US$ E-Savings account with ING Direct. If you go to your RBC branch ask them for a direct deposit form/slip with your name, address etc. on it. If you call ING they can tell you what exactly needs to be on it. The form I got was just on RBC Letterhead had a void cheque imprinted on it with transit #, institution #, account number on it. I believe someone at RBC had to sign it as well. I just told the RBC people it was for my discount brokerage account so I could move money back and forth as I thought if I mentioned ING they might balk at the idea. Did this about 9 months ago and there was no problem. I think I had to physically snail mail the original to ING but it got done.
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cheapcanoehead wrote:
Nov 10th, 2010 9:22 pm
Djino:

You can definitely link up your RBC US$ E-Savings account with ING Direct. If you go to your RBC branch ask them for a direct deposit form/slip with your name, address etc. on it. If you call ING they can tell you what exactly needs to be on it. The form I got was just on RBC Letterhead had a void cheque imprinted on it with transit #, institution #, account number on it. I believe someone at RBC had to sign it as well. I just told the RBC people it was for my discount brokerage account so I could move money back and forth as I thought if I mentioned ING they might balk at the idea. Did this about 9 months ago and there was no problem. I think I had to physically snail mail the original to ING but it got done.

THANK YOU VERY MUCH!

I will visit an RBC Branch tomorrow. Should I call ahead of time or is this something they can give me on the fly?

djino
[OP]
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May 28, 2007
131 posts
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Mississauga
komodor wrote:
Nov 10th, 2010 8:25 pm
Less than 3 months ago I opened a US$ ING account to transfer some money I had sitting in my 0 interest CIBC $US account. I mailed to ING a pre-auth form from CIBC (showing the account number) and they opened my new account very very quickly (3 days I think after I mailed my form!). So you don't need a cheque!

Is that your first account with ING? I was told that I could use a direct depost form if I have an account linked to my file. But they do not have an alternative to starting an account without a cheque.
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Sep 10, 2004
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For Ally, what you can do is use a cheque to link it to your chequing account and any subsequent accoutns you want to link don't need a cheque, they use a form of verfication that involves depositing $0.xx into your accout and you have to tell them how much exactly was deposited.

P.S. PM em if you need an ING referral :)
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Sep 19, 2004
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cheapcanoehead wrote:
Nov 10th, 2010 9:22 pm
Djino:

You can definitely link up your RBC US$ E-Savings account with ING Direct. If you go to your RBC branch ask them for a direct deposit form/slip with your name, address etc. on it. If you call ING they can tell you what exactly needs to be on it. The form I got was just on RBC Letterhead had a void cheque imprinted on it with transit #, institution #, account number on it. I believe someone at RBC had to sign it as well. I just told the RBC people it was for my discount brokerage account so I could move money back and forth as I thought if I mentioned ING they might balk at the idea. Did this about 9 months ago and there was no problem. I think I had to physically snail mail the original to ING but it got done.

I went to my rbc branch 2 months ago, and the staff there said they won't provide void cheque for us e-savings account, I did get a void cheque for my cad e-savings account though.
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Feb 21, 2006
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Jabb wrote:
Nov 11th, 2010 10:03 am
For Ally, what you can do is use a cheque to link it to your chequing account and any subsequent accoutns you want to link don't need a cheque, they use a form of verfication that involves depositing $0.xx into your accout and you have to tell them how much exactly was deposited.
Ally's system is very convenient compared to ING. But Ally only does Cdn$ accounts, no?
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May 17, 2009
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Thunder Bay
I didn't book an appointment or anything, I just showed up and it was like sure no problem. Maybe I got lucky as a previous poster had no success. I suppose if one branch fails to give you one try another one. I should have kept a photocopy of the thing. I think is also specified the currency of the account as well. The ING staff will tell you what needs to be on it if you give them a call.
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Aug 7, 2010
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yellowsea wrote:
Nov 11th, 2010 9:19 am
Is that your first account with ING? I was told that I could use a direct depost form if I have an account linked to my file. But they do not have an alternative to starting an account without a cheque.

No, I already had with them a savings account linked to a regular CIBC chequing account.

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