It appears that ING Bank will sell its Canadian Banking operations altogether. Reports are saying that a deal could be made by fall with one of the big banks.
ING Bank of Canada stopped their advisor services program last year, which is when we recommended a switch to Manulife Bank so we could continue to provide administrative support on your accounts. ING’s current savings rates are no longer competitive and will likely remain low while it tries to sell its business.
- ING currently offer s 1.35% on normal high interest savings accounts and RRSP savings, and 1.40% for TFSA.
- Manulife Bank offers a 1.75% rate on all accounts.
Manulife offers the same online and telephone banking features that you are used to with ING. If you would like to switch from ING to Manulife, we can prepare and forward the necessary paperwork.