ING DIRECT Changes Its Name to Tangerine

Bold new name reflects the Bank's unique identity

TORONTO, April 8, 2014 /CNW/ - ING DIRECT has changed its name to Tangerine. The name change is the result of ING DIRECT's sale by ING Groep to Scotiabank in 2012. Tangerine will continue to operate as a wholly-owned subsidiary of Scotiabank.

"Today marks an exciting chapter in our journey to simplify everyday banking for Canadians," said Peter Aceto, president and CEO of Tangerine. "Our approach to delivering banking has always been progressive and our bold new name, Tangerine, is reflective of our commitment to empower, inspire and motivate people and their money. Although our name has changed, our clients can rest assured the values that they have come to know and love us for won't change. We will continue to make banking simple, offer great interest rates, fair fees and award-winning customer service."

With the transition to Tangerine, clients can expect their everyday banking to become even easier.

• Tangerine is the first Canadian bank to launch a fully responsive website, tangerine.ca, which will provide one consistent website experience regardless of the device used to access the site. This is an example of how Tangerine continues to innovate and simplify banking for its clients.
  
  
• In June, clients will be able to make free withdrawals and deposits at Scotiabank ABMs, allowing them to access their Tangerine accounts at nearly 4,000 ABMs across Canada. Fee-free withdrawals will also be available via ABMs located at Shell, 7-Eleven, Cineplex Theatres and Couche-Tard convenience stores. Visit tangerine.ca/abmlocator for details.
  
  There will be no changes to client numbers, account numbers, PINS or passwords.

• Clients will be able to make fee-free withdrawals from nearly 50,000 cash machines in over 40 countries worldwide via the Global ATM Alliance.*

"Tangerine has a very distinct and innovative business model that has been contributing steadily to the evolution of Canada's banking industry for almost two decades," said Anatol von Hahn, Group Head of Canadian Banking at Scotiabank. "We are committed to preserving everything that Canadians have come to love about the brand over the past 17 years, and look forward to supporting Tangerine as it grows."

More than 10,000 Canadians including clients, employees and the public had their say in the Bank's new name as part of a year long process that focused on the need to stay true to the brand's unique and innovative approach to banking.

The colour orange which is closely associated with the brand continues to dominate the new visual identity. The tagline remains "Forward Banking", which emphasizes that Tangerine offers a bright way forward for Canadians and their money.

To celebrate the launch of Tangerine, the Bank is offering a promotional interest rate of 2.5%**on net new deposits into a Tangerine Savings Account between April 8, 2014 and June 30, 2014. Clients are also able to earn up to $150 in cash bonuses: $50 for opening their first savings account, $50 for opening their first chequing account and $50 for switching their payroll for the first time into the Tangerine Chequing Account by July 31, 2014. For more details visit tangerine.ca/bonus150

To watch a behind-the-scenes video of 'The Story of Tangerine' and to receive important banking updates, visit tangerine.ca.

*Free Access does not apply to Scotiabank ABMs in Colombia and Panama.

** Some conditions apply.  Annualized interest rate. Calculated daily, paid monthly. Subject to change at any time."

About Tangerine

Tangerine is a direct bank that delivers simplified everyday banking to Canadians. With more than 1.9 million clients and close to $38 billion in total assets, we are Canada's leading direct bank. Tangerine offers flexible and accessible banking, innovative products and services, fair fees, and award-winning client service. From chequing and savings accounts, GICs, RSPs, TFSAs, mortgages and mutual funds, Tangerine has the everyday banking products Canadians need. With over 1,000 employees in Canada, our presence extends beyond our web site and mobile app to our 24/7 contact centres and Café locations. Tangerine was launched as ING DIRECT Canada in 1997. In 2012 it was acquired by Scotiabank, and operates as a wholly-owned subsidiary. For more information, visit tangerine.ca

Follow us on Twitter @TangerineBank.

Video with caption: "Video: Peter Aceto, President & CEO of Tangerine shares his excitement about the launch of Tangerine and how the Bank will continue to push the boundaries of financial services through simplifying, innovating and challenging the status quo. ". Video available at: https://www.youtube.com/watch?v=Gmg72upXhfg

Video with caption: "Video: Welcome to Tangerine. Ever since we first opened for business in 1997, we've had a relentless drive to create the most exceptional banking experience our Clients. We're proud to be known as the bank that helps Canadians save their money, and as a leader in simple and innovative everyday banking. It's who we are, and who we'll always be.". Video available at: https://www.youtube.com/watch?v=PuDGYTFpiq4

Image with caption: "Tangerine is a direct bank that delivers simplified everyday banking to Canadians. Tangerine was launched as ING DIRECT Canada in 1997. In 2012 it was acquired by Scotiabank, and operates as a wholly-owned subsidiary. For more information, visit tangerine.ca (CNW Group/Tangerine)". Image available at: http://photos.newswire.ca/images/download/20140408_C8969_PHOTO_EN_38954.jpg

SOURCE: Tangerine

Lisa Naccarato
Tangerine
416-885-0348
[email protected]

Gordon Smith
Scotiabank
416-933-3056
[email protected]

Daina Astwood-George
APEX Public Relations
416-934-2104
[email protected]