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Hi Greg,

Thanks for pointing this out. I doubt their data mining goes that deep, though, into specific EFT transactions between Ally and ING accounts. It's possible that they may have reached out to anyone with a linked Ally account within their ING profile, though, but specifically mining incoming and outgoing EFT reports seems unlikely. In some ways, banks' analytics & systems are advanced and in other ways, they are somewhat primitive by comparison.

In an ironic twist, ING Direct still uses RBC with which it clears its EFT files and cheques drawn on ING accounts through, since ING Direct is not a "Direct Clearer", even after Scotiabank completed its acquisition.

RBC bought Ally almost entirely for the consumer and dealer financing businesses, to grow its consumer lending book. The deposits (GICs mainly) were a nice add-on, but of those, they would only want the GICs as Ally was losing money on their high-interest savings accounts and it was probably easier to have people renew their Ally GICs as RBC GICs than to try and integrate the two systems. Scotiabank has a lot on its plate if it ever wants to integrate ING Direct's systems and platforms into Scotiabank, but given how well they did with Scotia iTRADE, I'm confident they can pull it off. TD Canada Trust, on the other hand, is still struggling to integrate MBNA Canada into its systems - they haven't even gotten rid of the horrid MBNA brand yet!

Cheers,
Doug