DRiP tips - MoneySense

DRiP tips

What you need to know about investing using DRiPs plus a Halloween spending poll.

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INGChequeIn

  • Synthetic DRiPs allow users to reinvest dividend payments to buy additional shares without paying a trading commission. But be careful, the Canadian Capitalist warns, they can come with hidden fees.
  • The future is here. ING Direct is testing a new service that would allow its iPhone app users to deposit a cheque into their account simply by snapping a photo of it. The remote cheque deposit feature is called Cheque-In and will be available to 500 users. A recent survey for the online bank found more than one-third of Canadians are open to doing more traditional banking functions using their smartphone. That number jumps to 57% among 18-34 years-olds. 

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