# Invitation to speculate wildly - ING's "big event"



## purple.platypus (Dec 10, 2012)

Hey, all. I haven't posted for a while, as it turns out self-employment leaves me with less, not more, time and energy than normal work. But I thought people here might be interested in an e-mail I got from ING Direct a few hours ago, which says in part:

"On Tuesday, November 5th, we're having a unique, not to be missed event where we will be making an exciting announcement! As a valued Client we'd like you to be one of the first to hear our big news and you're invited to take part via live-stream."

Any ideas, clues, hints or baseless speculation about what this is about? People have been wondering what the impact of Scotia's purchase of ING would be basically since it happened, and so far it's been essentially zero. Looks like that's about to change, but how exactly?


----------



## cedebe (Feb 1, 2012)

I received this as well and promptly deleted it. Colour me cynical, but I highly doubt it'll affect my chequing account or savings accounts with them in any meaningful way.


----------



## Barwelle (Feb 23, 2011)

If I remember correctly, they sent a similar email sometime last year... and the "big announcement" was to reveal a new marketing campaign. I did the same as cedebe... delete and fuggedaboutit. I've been moving money away from them anyways, they haven't had competitive interest rates for a long while.


----------



## mbmb (Oct 17, 2012)

my guess is that they will announce the new name of the company, now that Scotia Bank purchased them, they might blend the name. It is only a guess though!!!


----------



## MoreMiles (Apr 20, 2011)

mbmb said:


> my guess is that they will announce the new name of the company, now that Scotia Bank purchased them, they might blend the name. It is only a guess though!!!


Scotia + ING = Scoting.

Welcome to Scoting Direct :biggrin::biggrin::biggrin:


----------



## swoop_ds (Mar 2, 2010)

I haven't been with them very long. But I'm wondering if it's going to be like last year where they will be increasing their referral bonus to $50/person from $25 until Christmas time.


----------



## emperor (Jul 24, 2011)

I'm hoping they raise the HISA rate. Some of the online banks are 1.90 - 2% for HISA and TFSA. The 1.3 and 1.4 they give now is just barely above the big banks.


----------



## mbmb (Oct 17, 2012)

emperor said:


> I'm hoping they raise the HISA rate. Some of the online banks are 1.90 - 2% for HISA and TFSA. The 1.3 and 1.4 they give now is just barely above the big banks.


they offer a child (under 16 years of age) savings account for 2%


----------



## andrewf (Mar 1, 2010)

My guess is a rebrand, because Scotia will only be able to use ING's trademark for a limited transitional period.

It makes the acquisition of Ally and ING just transparently anti-competitive activity. They are annihilating any brand value that existed, leaving customer acquisition and eliminating competition as the only remaining motivations behind the acquisition.


----------



## Echo (Apr 1, 2011)

I interviewed ING CEO Peter Aceto a few months ago about what's next for ING. He revealed a few things to watch for in the coming months - http://www.thestar.com/business/personal_finance/2013/07/30/ings_new_name_not_scotiabank_360.html

The re-brand isn't due for a while, but they might want to roll it out sooner than later. Other news to look for would be the introduction of a cash back credit card, and the integration with Scotia ATMs.


----------



## james4beach (Nov 15, 2012)

ING Direct lost its competitiveness a long time ago. It used to be where I kept all my savings and GICs, at great rates.

I closed my account a few years ago because the rates became uncompetitive. Taking a look at their rates it's still the case... I can get higher GIC rates at big banks (including Scotia directly through their regular 'promotions') which is pretty funny


----------



## nathan79 (Feb 21, 2011)

Yeah, ING's rates have become depressing. I think the only thing stopping me from moving my TFSA is that I'm not sure how the transfer process works.


----------



## fatcat (Nov 11, 2009)

it's interesting how banks lose their way and morph into lesser versions of themselves

i used to love ally bank, one of the best banks i have used
royal bought them and turned it all to sh#te

it only added to my contempt for royal
(except for their stock which has been very good to me)

i suspect whatever scotia/ing will announce will prove only to cost you (the customer) _more_ money and deliver _less_ all wrapped up in a very pretty package with stunning brochures


----------



## liquidfinance (Jan 28, 2011)

Tangerine!!!!

Did someone get paid to come up with that? Seriously.......


----------



## james4beach (Nov 15, 2012)

You know, these banks don't have to care about traditional banking and enticing you with competitive interest rates.

They make most of their money off of financial engineering and derivative speculation anyway. Folksy "old fashioned banking" is a joke to them

Credit unions are different, they still do traditional banking.


----------



## james4beach (Nov 15, 2012)

liquidfinance said:


> Tangerine!!!!
> 
> Did someone get paid to come up with that? Seriously.......


A consulting firm probably got paid several hundred thousand $ to come up with that


----------



## donald (Apr 18, 2011)

Why did ing have orange in there branding to 
Begin with.
tangerine seems like such a weak color to associate with.
The color of orange represents among other things danger/unconventional/exrovertism etc cetra.Things one would think you wouldn't want associated to a financial company.
strange branding IMO.Guess it works,I think of all the color choices,orange is about the worst(its a unsettling color)
Maybe that's the point I guess,seems like a laughable name though-tangerine.(interesting)


----------



## andrewf (Mar 1, 2010)

Orange is the dutch national colour, and ING is a dutch bank.

I called it! Rebranding...

And fatcat, it's not accident that RBC and Scotia ran their acquisitions into the ground. That was precisely the point of buying them--to eliminate the competition.


----------



## fatcat (Nov 11, 2009)

andrewf said:


> And fatcat, it's not accident that RBC and Scotia ran their acquisitions into the ground. That was precisely the point of buying them--to eliminate the competition.


absolutely, i despise royal as a result ... except their stock which has been berry berry good to me


----------



## heyjude (May 16, 2009)

I was selected to do an online survey about this rebranding several months ago. Tangerine was one of the alternatives. I don't remember what the others were. I think their idea was to convey the idea of banking as "fun". 

I have an Unmortgage with ING direct and I love the convenience of sneaking in a few dollars on principal whenever I feel like it, as well as the relative ease of negotiating rates down. However, when that's paid off, I'm planning to close my accounts.


----------



## cedebe (Feb 1, 2012)

So that was the big event?? A rebranding/colour change? Oy...


----------



## leoc2 (Dec 28, 2010)

http://www.tangerine.ca/index.html


----------



## cedebe (Feb 1, 2012)

leoc2 said:


> http://www.tangerine.ca/index.html


Thanks for the link, leoc2.


----------



## NorthKC (Apr 1, 2013)

Tangerine? Of all the names that they could have come up, they came up with this? This sounds like some sort of food market. It doesn't even sound professional. Good luck on getting new customers!


----------



## andrewf (Mar 1, 2010)

Also not crazy about the name. It seems to wordy and hard to say. Tangerine doesn't roll off the tongue.


----------



## fatcat (Nov 11, 2009)

terrible name ...


----------



## donald (Apr 18, 2011)

They do target the younger demo,they are somewhat a ''teen'' bank(orange keys/heavy social media ect)maybe they get a stronger foothold on the niche they are strong in.
Nobody with multiple needs and or large assets would likely deal with them at all anyways and i'm sure they know that.
Maybe it is just a stronger focus on that.
When i think of ing or tangerine i think young/low assets/modesty needs/promos ect
Look at the vid in the thread how they are showing they are young/hip/forward/different-this ain't your father's royal bank/td
*ironically now that ing sold out,imo they ''lost'' that fresh/hip vibe*now just a arm to big brother bns anyhow*sell-outs.


----------



## KLR650 (Sep 12, 2010)

I could care less what they call it, as long as I'm getting paid top $$ for my savings. Which I'm not getting from ING anymore, therefore I promptly responded to the name change by moving my money to PC for the 2.25% promo.


----------

