ING Bank of Canada (ING Direct) has introduced a Children's Savings Account. As an introductory special, if you open a Children's Savings Account with $100 or more by September 30, 2009, you get a $25 Bonus!

This freebie bonus is super quick and easy to get if you are already an ING Direct customer - I think it only took me 5 minutes to sign up. The whole thing is paperless - you just need your child's SIN and an ID document number (e.g. birth certificate number, passport number).

The child will get their own Client Number and PIN, just like grown ups. They can transfer funds into their own account, view their transaction history and manage their own money under your watchful eye. And best of all... they can see their money grow!

If you don't have an ING Direct account, it's easy to sign up online (please use my "Orange Code" 13809409S1 when you sign up, so that they know I refered you!), and then all you need to do is mail them a cheque from one of your other financial institutions to link up your ING account with it, so that you can easily transfer money to your new account.

Aside from the Children's Savings Account promotion, they currently have a great 3% interest rate on their Tax-Free Savings Accounts until October 1, 2009. If you want to see how this compares to other high interest Canadian banks, click here.

• To learn more about the ING Direct Children's Savings Account, click here.
• To learn more about opening an ING Direct Account, click here.