If you’re looking for an online savings account, ING Direct’s Orange Savings account is the Cadillac of online accounts. Most banks are offering some type of online savings account today; however, very few offer the same features and the Orange account. Here are my experiences with ING and several tips to help you decide if the Orange online savings account is right for you.
Saving money can be extremely difficult for many people; according to financial advisor David Ramsey nearly 78% of all Americans live paycheck to paycheck. If this describes your finances you could be just one emergency away from a financial meltdown. The good news is that saving money is easier than you think. Tools like ING’s Orange online savings account make it very easy to stash money away from every paycheck that you’ll never miss.
ING was the first to offer the online savings account in 2000 allowing people who have outgrown their piggy banks to squirrel money away in a very liquid online savings account that earns a better return than those offered by banks or credit unions. One of the best features of ING’s Orange online savings account is the ease of access to your money; typically, your cash can be accessed in just a few business days. The best thing about the Orange online savings account is that there are no fees or minimum balances. There are also no tricks buried in the fine print that you’d find at a bank like Wells Fargo.
How can there be no fees or minimum balances? What’s the catch? There is no catch for you, but just because ING isn’t charging a fee for their online savings account don’t think they’re not making money from it. ING has almost ten times the amount of deposited funds than their nearest competitor.
Getting Started With an Online Savings Account
While I haven’t opened many accounts online, ING’s online savings account is the easiest account that I’ve ever opened. I do have many other accounts but I keep my ING online savings account just because it’s so easy to use and doesn’t cost me anything. Opening your Orange online savings account is easy; it takes about 5 minutes to complete the application. After you complete the application ING will make several test deposits to you checking account and once you confirm the amounts of those deposits, you’re ready to go.
Having referred a number of friends and family members to the Orange online savings account I can tell you that no one I know has ever had a problem with them. That includes cashing money out of the account which is handled by ACH direct deposit to your checking account. You can start your ING Orange online savings account by clicking here:
Orange Online Savings Account Features
Once your account is active you’ll have access to all of the nifty features that come with your Orange online savings account.
Cool Interface The user interface is slick and easy to navigate. The buttons are clear and intuitive. Everything you need to do is just…easy.
Sub-Accounts This feature allows you to use multiple accounts, each with it’s own unique account number. This allows you to designate an account for a specific goal, like saving up for vacation.
Refer a Friend Once you’re an ING customer you can refer your friends and put up to $250 in your pocket. ING pays a finder fee of $10 for up to 25 of your friends, coworkers, and family members.
Interest Paid at a Glance Your ING control panel shows how much interest was paid to your account this month. You can see exactly how much your money has earned.
Other cool features include automatic deposits from your checking account, the ability to link up to three external accounts, and downloading your transactions automatically into MS Money or Quicken. ING also allows you to set up accounts for children. If you’ve been looking for a way to stop living pay check to pay check or want to start saving for a rainy day or that upcoming vacation, ING’s Orange online savings account could be your answer.