ING Vs. Royal Bank

October 10, 2008 11:06 AM

CanadaFinanceFilter: We have money in an ING account, because it offers a better rate than Royal Bank. Given the financial world's upheaval of late, would our money be safer in our Royal Bank account?
posted by Bearman to Work & Money (4 answers total)

Best answer: ING in Canada is regulated the same way as all other Canadian banks even though it's owned by a foreign bank. You have the same government guarantees (CDIC) at any bank that's chartered to operate in Canada. ING is a member of CDIC: http://www.ingdirect.ca/en/aboutus/whoweare/cdic/index.html.
posted by GuyZero at 11:14 AM on October 10, 2008

As long as you have less than $100,000, I wouldn't worry. It's insured. Keep earning that interest!
posted by Brodiggitty at 11:48 AM on October 10, 2008

Nope
posted by blue_beetle at 11:51 AM on October 10, 2008

Response by poster: Thanks folks!
posted by Bearman at 12:27 PM on October 10, 2008