ING Direct: The Orange Savings Review

You've heard of ING Direct. You may not have an account there for many reasons. I will be giving an in-depth review of the online Savings Account, the "Orange Savings," that ING Direct offers.

ING Direct is a subsidiary of the dutch based ING Group. ING Direct first opened for business in Canada in 1997. Soon after, in 2000, ING Direct made its way to the U.S.

I opened my own "Orange Savings" about a year ago. I decided to give it a try after being bombarded by ING Direct advertising. They had a very aggressive advertising campaign, and I wanted to try them out, to see if they are everything they claim to be.

Signing up was extremely straight forward. They ask the basic info required to open any bank, Name, DOB, SS#, and a few other things. However, the whole website is EXTREMELY user-friendly.

After my account was opened, it had to be linked to one of my other banking accounts, via a check link. All that you have to do it to give the bank account # and the check routing # to ING Direct. Soon, they will deposit 2 small amounts into your checking. You just have to confirm the 2 small amounts and then your all set!

BENEFITS OF THE ORANGE SAVINGS ACCOUNT

High Interest.

Compare for yourself.

• ING Orange Savings - 2.75% apy
• Citizens Bank - 0.25% apy
• Eastern Bank - 0.25% apy
• Sovereign Bank - 0.25% apy
• Rockland Trust - 0.25% apy
• Bank Of America Savings - 0.20% apy
• Century Bank - 0.10% apy

NO FEES. - (Minimum balance fee, hidden fees, etc)

ING Offers many other services.

• Sharebuilder
• Electric Orange Checking Account
• Orange CDs
• Orange Mortgage Accounts
• Orange Home Equity Loans
• Orange Investment Mutual Fund Accounts
• Orange Retirement Accounts (IRAs)

Great way for Impulsive Spenders to Save.

It takes a few days, from the time you request funds, until the time they are available to use. This helps cut down on those pesky impulsive purchases!

Offers Direct-Deposit.

You can submit a Direct-Deposit form, to your employer, so you can automatically have a percentage of your paycheck automatically deposited into your Orange Savings Account.

Ability to create Sub-Accounts + Name them

Overall, I would recommend this as your sole savings account. It is definitely mine. If anyone is interested in opening an account AND receiving $25 dollars for opening that account. Email me and I can refer to the site!