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belleama

ING Checking available now!

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I didn't see this anywhere so I'm sorry if this is a repost but I just got this e-mail...

 

www.ingdirect.com

 

It's here!

The new account from ING DIRECT that

delivers the access and convenience of checking with the earning power of savings.

 

 

As an ING DIRECT Customer, you believe in saving and know we try to make it easy for you to save more—without hidden fees and catches. Many of you have asked when we would do for checking what we did for savings. We have an answer! It's called Electric Orange and it's exclusively for you. It's America's first paperless checking account and you can be one of the first to have it.

 

Electric Orange is everything you'd expect from ING DIRECT and more:

 

It pays high interest

5.30% APY on every dollar for balances of $100,000 or more

5.05% APY on balances between $50,000 and $100,000

3.00% APY for balances up to $50,000

A MasterCard® Debit Card for purchases

Free ATM access at more than 32,000 locations nationwide

Free Bill Pay

Send money securely to anyone for Free with Electric Checks

(Annual percentage yields apply to your entire balance. All listed rates are variable and effective as of 11/29/06.)

 

Open your Electric Orange today:

 

Go to ingdirect.com and login with your Customer Number and PIN,

Click on 'Open an Account',

Then click on Electric Orange (you must be logged in to your account to see it).

Getting started is that simple!

 

Electric Orange - the checking account that

thinks all your money deserves to make money.

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5.3 on a checking account is excellent. I am tempted but I worry they will use this as a loss-leader to get new accounts and then fail to keep up with the jones' so-to-speak and not continue to give a competitive APY.

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Who the hell has 100k laying around to transfer into a checking account unless you're turning 100k over every few months?

 

Above 10k and put it into a MM account or start socking it away in some other investment.

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Who the hell has 100k laying around to transfer into a checking account unless you're turning 100k over every few months?

 

Above 10k and put it into a MM account or start socking it away in some other investment.

what MMA is paying 5.3% APY???

 

and what if you have plenty in other vehicles???

 

what if you want enough cash on hand to buy a small island?

 

what if 10K is less than 6 months expenses?

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Who the hell has 100k laying around to transfer into a checking account unless you're turning 100k over every few months?

 

Above 10k and put it into a MM account or start socking it away in some other investment.

what MMA is paying 5.3% APY???

 

There are a handful out there. From http://bankdeals.blogspot.com/

 

Superior Savings

E-Loan

Bank United

UFB Direct

iGoBanking

Zions Bank

AmTrust Direct

OneUnited

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Who the hell has 100k laying around to transfer into a checking account unless you're turning 100k over every few months?

 

Above 10k and put it into a MM account or start socking it away in some other investment.

what MMA is paying 5.3% APY???

 

There are a handful out there. From http://bankdeals.blogspot.com/

 

Superior Savings

E-Loan

Bank United

UFB Direct

iGoBanking

Zions Bank

AmTrust Direct

OneUnited

 

slightly higher APYs. hummm. MMA have too many restrictions IMHO.

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We're sure they don't pull a hard (for current customers) to open the checking?

 

 

I haven't had inquiry alerts pop-up.

 

From ING themselves:

 

"Are you sure you don't pull my credit to get the Overdraft Line of Credit?

Yes – positive. We do not check or 'ding' your credit. The standard $1,000 line does not even show up on your credit report, unless of course you don't pay us back."

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I'm reading the T&Cs right now:

 

CREDIT REPORTS – You agree that in connection with your application for EO and the OLOC, the Bank may obtain credit information about you from one or more credit reporting agencies. You also agree that the Bank can obtain follow-up credit reports on you in connection with the maintenance, review or collection of your EO and/or OLOC.

 

This is the 4th item under "EO Agreement."

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I'm reading the T&Cs right now:

 

CREDIT REPORTS – You agree that in connection with your application for EO and the OLOC, the Bank may obtain credit information about you from one or more credit reporting agencies. You also agree that the Bank can obtain follow-up credit reports on you in connection with the maintenance, review or collection of your EO and/or OLOC.

 

This is the 4th item under "EO Agreement."

that language could be used to gain PP for a soft.

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We're sure they don't pull a hard (for current customers) to open the checking?

 

 

I haven't had inquiry alerts pop-up.

 

From ING themselves:

 

"Are you sure you don't pull my credit to get the Overdraft Line of Credit?

Yes – positive. We do not check or 'ding' your credit. The standard $1,000 line does not even show up on your credit report, unless of course you don't pay us back."

 

cool, thanks.

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I'm reading the T&Cs right now:

 

CREDIT REPORTS – You agree that in connection with your application for EO and the OLOC, the Bank may obtain credit information about you from one or more credit reporting agencies. You also agree that the Bank can obtain follow-up credit reports on you in connection with the maintenance, review or collection of your EO and/or OLOC.

 

This is the 4th item under "EO Agreement."

that language could be used to gain PP for a soft.

 

True...I was just giving the info.

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Decided to take the plunge. Took only a few minutes to set up... :D

i will when I return for vacation. 5.3 APY with checks is too much to pass up.

 

I wonder why they are undermining their savings product?

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I just signed up for an ING savings account. When will I be able to open a checking account?I dont see any button for that yet. Thanks! <_<

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I just signed up for an ING savings account. When will I be able to open a checking account?I dont see any button for that yet. Thanks! :good:

 

I'm not sure when it will show up but when it does you will find it after logging into your account then clicking on "Open an account." You'll see it there once its available to you. Right now you sign up unless you have a savings account with them. I don't know if that will change though.

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I just signed up for an ING savings account. When will I be able to open a checking account?I dont see any button for that yet. Thanks! <_<

 

I'm not sure when it will show up but when it does you will find it after logging into your account then clicking on "Open an account." You'll see it there once its available to you. Right now you sign up unless you have a savings account with them. I don't know if that will change though.

 

I thought I hard that eventually ING will roll out the option to all and advertise it on their site. I did not receive a specific invite for the checking, but had the link to open the account upon signon...

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Scheduled to roll out to all customers February. At least that was their story back in November or December.

 

Right now it is invite only. You can call and ask to be put on the invite list if you currently have an orange savings account, but no guarantees.

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Now available to ALL ING Direct customers!

 

If you're not an ING Direct customer, you can get $25 free for opening an account...just PM me for a referral!

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