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ING Direct Orange Savings account - interest rate bumped!

A

AStar617

Diamond Member
Great account from ING keeps getting better. If you haven't seen any of the other discussion threads here and elsewhere, ING is a large bank that isn't going anywhere, not a fly-by-night operation. The Orange Savings account is an online-only, no-minimum account that offers unbeatable rates. It is linked to a checking account you already own, and money gets transferred between the two to facilitate your saving/spending. They have a scheduled withdrawal feature to help you save regularly. Transactions take a few business days, and deposits have a hold of a few days before you can withdraw that sum again, but all in all its all the liquidity and return of a money market account without the large minimum balance or potential to lose money.

http://www.ingdirect.com/

Above link is quite clean for those looking to sign up. However, feel free to PM me if you'd like a referral good for $25 in your account at opening 🙂

*EDIT* A heads-up to prospective account holders:

When a referral is used, the referred person receives $25 immediately in their balance (though it can't be withdrawn for some business days). The referrer receives $10. Both are considered "accrued interest" for tax purposes.

Also, there is no limit to the amount of referrals one can provide. This doesn't work like Google GMail, where invites are handed out once in a while; anyone is free to sign up with the link in the OP with no strings attached, or to be referred by ANY ING member at ANY time for a signup bonus.

Some people's assertions of "having a few ING referrals left" look like they are trying to take advantage of people's assumptions on how the referral program works. I believe in full disclosure on matters like this.
 
I think this thread will probably be locked since it has been discussed before.

However it is great that ING continues to stay very competitive with their interest rates. I had used ING for over 2 yrs now. Great interface, very easy to use. Very easy to move money from accounts.

If anyone needs a referral, please PM me your FULL NAME and EMAIL ADDRESS.
 
IMHO the old thread has outlived its usefulness; it was overgrown, hasn't seen activity in over a week, and, if history holds true, the information of the new interest rate would be largely overlooked. All of that was taken into account when I decided to post separately.

So in that regard, the old one should be obsoleted if anything...
 
Originally posted by: ins0m
YA I heard about this too, don't you get $50 for referring somebody?
Click to expand...

Not quite. When a referral is used, the referred person receives $25 immediately in their balance (though it can't be withdrawn for some business days). The referrer receives $10. Both are considered "accrued interest" for tax purposes.

 
this is exactly why this thread should get locked...it will turn into what the other one did...everyone saying PM me for a referral.
 
Point taken.

A heads-up to prospective account holders--there is no limit to the amount of referrals one can provide. This doesn't work like Google GMail, where invites are handed out once in a while; anyone is free to sign up with the link in the OP with no strings attached, or to be referred by ANY ING member at ANY time for a signup bonus.

Some people's assertions of "having a few ING referrals left" look like they are trying to take advantage of people's assumptions on how the referral program works. I believe in full disclosure on matters like this.
 
I posted one of the the originals and it got locked/deleted due to excessive people saying "pm me for referrals" myself included (didn't relize it was sooo frowned upon)

just a heads up....don't talk about referrals here...the mods dont liek it

 
I think the referral program allows for up to 25 sign ups for that person's account. After that I think you are done and you cannot refer anymore people.

Nonetheless, this is easily the best online bank I have personally ever used, even without the referral I personally still would put my money in there due to the easy interface and high interest rate.
 
When you request a withdrawal from your ING savings account, do they mail a check or is it electronically wired to your 'linked' B&M checking account? If the latter, is this essentially a same day transer that's readily accessible?
 
Originally posted by: alrocky
When you request a withdrawal from your ING savings account, do they mail a check or is it electronically wired to your 'linked' B&M checking account? If the latter, is this essentially a same day transer that's readily accessible?
Click to expand...

It is electronically transferred. These transfers can take a few business days to complete, so it's not as instantaneous as you might be hoping for in your question. Still a small price to pay IMHO.

 
I still have some referrals, does anybody need any? PM me your full name and e-mail. ING has been so great ever since I got it. The interest rate is up to 2.35% now.
 
Nonetheless, this is easily the best online bank I have personally ever used, even without the referral I personally still would put my money in there due to the easy interface and high interest rate.
Click to expand...

agreed, been using ING since college (drawn in by the $50 sign up promotion back then)

 
It takes 2-3 business days to transfer money from the Savings Account to your linked Account. I love it because it makes the money less accessible so I won't touch it. When my Savings account is accessible I was too tempted, now it's "Out of sight and out of mind".

The Savings Accounts are FDIC insured as well for up to $100,000 or $200,000 for a joint account.

ING is great. I would recommend them 100%. Don't feel threatened because they are an Online Bank. They are worth it all the way.
 
Actually ING is one of the largest banks, I think they are top 5 banks. I saw some of their branches in Canada, I dont recall seeing them in the US though. 2.35% is pretty good, I have seen some banks that are better, but the sign up bonus of $25 does help a ton especially if you dont put in that much money.


So if anyone needs that $25 referral, please feel free to PM me with your FULL NAME and EMAIL ADDRESS
 
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