Good return on your money

I made over 60% in a recent investment. You can do 75%.

Sounds like a Ponzi scheme pitch, eh? Allow me to explain.

ING bank started a promotion recently that lets new clients open a bank account and receive a $50 bonus. A separate promotion allowed existing clients to refer new clients and receive a $25 bonus.

The only condition is that you have to deposit at least $100 initially. Available types of accounts include savings, TFSA, RSP and GIC. I'm not sure chequing accounts qualify, but who knows.



So I opened a savings account and put my $100 in. Almost immediately the $50 bonus went into my account. I also received a referral key so I could refer other new clients.

Next I (uh, I mean Carrie) opened a new account in her name, using my referral key. With her initial $100 and her $50 new client bonus, she had $150. My account received another $25 for having referred her.

The totals: $200 of our own money and $125 in bonuses. Not bad for a bunch of paperwork.

Here's the sad part (for me): the referral bonus has now doubled to $50. Not procrastinating cost me $25. Oh well.

All you need to do now is start some ING accounts. Just use my referral key (39513191S1) when applying for your account; on the enrolment form, change the provided promo code "Post50" to my number above. Start a savings account here or choose from more account types here.

Once you have an account, use your own referral key to make money by referring your spouse. Then you'll be $150 richer. Not sure if this works for kids, although there are other promotions for kids from time to time.

Since ING has no physical branches to visit, it may not be convenient for everyday banking, but it makes a great rainy savings fund. You can bank by mail (write cheques from your main bank), by linking it online with your main bank, or with a debit card (some ATMs are free to use, some aren't).

There you have it: free money! It's a great excuse to build that 3-month-wage emergency fund you've always been planning to start.