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Earn interest with an Electric Orange Checking

19 comments

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ING DIRECT
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Sign up with ING Direct and receive the access and convenience of checking with the earning power of savings. Earn up to 0.25% APY for balances under $50K, 1.50% APY for balances $50K-$100K, and 1.55% for over $100K.

Your ING Direct account features:

FREE Electric Orange MasterCard Debit Card
Online Free Bill Pay
Free access to 35,000 ATMs
Send money securely for free with Electric Checks
Automatic protection with your Overdraft Line of Credit
High interest: 0.25% APY for $0-$49,999.99; 1.50% for $50,000-$99,999.99; 1.55% APY for $100,000+
No need to change banks - Your Orange Savings Account will be automatically linked to your current checking account.
Access your account around the clock via ingdirect.com
Open your account online in under 5 minutes
Safe, Secure and Smart

ING Direct's Electric Orange checking account is an easy-to-use paperless checking account with a great interest rate. Member FDIC.

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USER COMMENTS(19)

runningdoc
Sep 19
7:11 am

Clearly, if you search for rates you can do better than ING. For example, American Express offers a 1.85% savings account... Ally Bank, 1.85% no penalty CD, and 1.75% savings...

rebeccapiet
Oct 16
12:02 pm

This is not a savings account, but a checking account. Most banks do not offer any interest on these types of accounts.

princesshong
Sep 14
12:48 pm

I just signed up for the saving account. If you sign up through a referral, you get a $25 bonus. Let me know if you want a referral for the bonus. Thanks! Hong

elcrenshaw
Aug 14
6:38 am

Although the interest rates are low, ING has been great! Especially for checking and billpay. The FREE billpay (except if you want to overnight funds) is the easiest and most user-friendly I've seen and I have always had excellent customer service.

goddessdi21
Aug 4
10:54 pm

My husband & I each have an ING Savings account. We are happy with them except that the interest rate has been going down for a few months. Seems to be part of every recession, unfortunately. For my free checking account, I've had 5/3rd bank,for 5 years, doesn't pay interest but doesn't charge a monthly fee either & customer service is very good. Works for us.

nanodeath
Jul 31
8:09 pm

Um...I'm confused. People seem to think that electric orange checking is a savings account -- it's not. You can use it to send checks, unlike FNBO.

FNBO offers a Online Savings Account and a Online BillPay Account, it looks like. You have to manually transfer between the savings account and the BillPay account. So what does that make the BillPay account? A checking account that you can't cut checks from, make withdrawals from, or earn interest on. Sounds awfully similar to INGDirect's Orange Saving's account and electric checking combo, but with fewer features.

Now, granted, FNBO gets 1.50% APY on its savings account (and 0% on its BillPay account?) and ING Direct gets "only" 1.40% APY on its savings account (but 0.25% on its checking account). If you keep an average balance of $1000 over the course of a year in your savings account, then...FNBO will get you an amazing ONE DOLLAR more.

Point being, follow the features. The APYs are close enough that it doesn't matter.

(And yes, 0.25% APY IS a lousy amount on a checking account, but what did you expect? It's a checking account)

atraphan
Jul 29
5:44 pm

FNOB is at 1.50% now as of July 2009. No longer a good deal!

hrishie
Jul 9
5:35 pm

ING is one of the best online banks. plenty of ATMs to choose from and great rates on savings, though their rate has fallen in the last couple of months. S