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Earn interest with an Electric Orange Checking

Offered by: ING DIRECT

26 comments | Comment on this offer


Details

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.

Comments

(26 Total Comments)


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."

terikawade at 2:13 pm Feb 1

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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."

psiarras at 10:32 pm Jan 27

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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."

GamingG at 9:51 pm Dec 5

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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!"

SayNOtoING_tc at 11:13 am Dec 3

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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."

saracen007 at 1:50 pm Nov 26

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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..."

runningdoc at 7:11 am Sep 19

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

rebeccapiet at 12:02 pm Oct 16

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Actually, if you want to find the best available interest checking accounts, go to checkingfinder.com. You can currently find checking accounts with interest rates over 4%"

brockm87 at 11:03 am Jan 15

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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"

princesshong at 12:48 pm Sep 14

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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."

elcrenshaw at 6:38 am Aug 14

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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."

goddessdi21 at 10:54 pm Aug 4

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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)"

nanodeath at 8:09 pm Jul 31

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You can't write checks from the Electric Orange account, either. Read the FAQ. When they say it's a paperless checking account, they mean it. You can use the debit card they send you and you can use their bill pay to have them write checks, but they will never give you checks and you can't have your own printed.

Thus, FNBO Direct's Billpay account is nearly identical to ING Direct's Electric Orange account. Personally, I don't see the point of even having checks anymore if you can use online bill pay with your checking account, considering that the few times that you won't be able to use your debit card you can either get cash from the ATM or use bill pay, rather than writing a check, but I thought I'd note the difference for those that might think you're getting paper checks with either of those banks.

GamingG at 9:49 pm Dec 5

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