What is a Joint Account?
You can set up an account either for yourself or for you and one other person. Joint accounts are often opened by married couples or for a parent and child. Both people on the account must have a social security number. The person who is listed as the primary account holder is responsible for any tax implications related to the joint account. Persons under 16 years of age cannot open single accounts.
You will then have a link between that account and your ING DIRECT account.
In order to move money from your Orange Savings Account, you must maintain a current checking account at another financial institution. You will then be able to link that account to your ING DIRECT account and move money between the two accounts. You must indicate if both ING DIRECT account holders are registered on the personal checking account that you link to your Orange Savings Account.
If both account holders are linked on the personal checking account, both will be able to move funds to and from that account. However, if only one person on the account has a checking account at another banking institution, they will be the only person able to move money in and out of the joint account. In other words, for both people on the account to be able to initiate transfers, either both customers must be registered on the account at the other financial institution or both people must have their own single named account at another institution and link both accounts to their joint account at ING DIRECT.
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