Earn interest with an Electric Orange Checking

I was told I need to have at least a 600 credit score, so they did an inquiry and I couldn't get the account. Lost out on both ends so beware if your score isn't above 600. This only applies to their checking account as was explained by the representative."

I just opened an electric checking account with ING, I also have two savings with them. I love the concept, the only thing is that they don't give paper checks and I still need to write one check a month for my rent. That would be my only criticism as there is no other way that I can pay my rent.

Other than that, I much prefer them than all the big banking corporation. I was getting tired of all these fees that larger banks charge."

ING DIRECT performs a HARD credit check (Equifax) before approving applications for Electric Orange, and it will appear as a hard inquiry on your Equifax credit report, though you won't see it here on Credit Karma because Credit Karma only checks TransUnion. There is no credit check for their Orange Savings account, however."

These people are horrible. They completely screwed up my account when there were some fraudulent attempts on my account. They didn't let me know about the strange activity and then shut down my account. Even after straightening out the problem they wouldn't re-open my account. THEN, they continued to try to charge me bank fees for over a year after my account was closed. It was THE WORST customer service I've ever experienced. If you have enemies, be sure to recommend ING to them!"

There are better offers out there but lets be fair ING has an established brand, the customer service is good if not great and they offer much better rates and services than most people's "hometown" or Mega-banks. I haved used multiple services for almost eight years with no real complaints."

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..."

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"

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."

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."

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)"