Have $250+ But Need More?

Dear Eagles,

I have been enjoying banking with ING Direct for about two years now, and I can tell you that it is a very good bank.

There are high interest rates - when I started, the CHECKING was making about 2.5% APY, and the savings account was making about 4.3% APY.

With the bad economy, the rates are down to 0.25% and 1.4% respectively, but they are still good.

When you have any questions or complaints, there is one number you call, you get answered pretty quickly, and the first person to answer the phone will be able to help you with everything - no bereaucracy.

And about the title of the post.

Another really nice feature is that if you invite someone to start an account and they do by clicking the link in the email sent through the website, (and they start it with $250 or more), they get a bonus of $25 added to their account and you get $10.

Oh, and I forgot to mention, there is a free debit card that comes with the checking account (you don't need to pay a penny to get the card once you've started the account, or a replacement for it if you lose it). The account also has an Overdraft Line of Credit - you can choose how much beyond the amount of money in the account you can spend, and it has "a competitive APR", to quote the website. (I'm not sure what that APR is, because I have always kept the balance in my account positive.)

If you have both Electric Orange (checking) and Orange Savings, you can keep the bulk of your money in the savings account, earning interest, and a certain amount (like ~$100) in the checking, and once a week, or once a month, look at the website to see how much you've got in the checking, and in one minute you can transfer the amount of money you want from the savings to the checking or vice versa.

The minimum in the savings is $0.00, and the minimum in the checking is the using up of your overdraft line of credit. In other words, there is no minimum in either account.

So, if anyone has the time to set up a new account, and wants to, please email me or leave a comment, and I'll have an invitation sent to you.