The ING Direct Orange Savings account is one of the most recognizable names in online savings. ING Direct was one of the first banks to offer a high interest rate on online savings account (most banks offer a measly half a percent or so). This high interest rate coupled with with a good reputation makes ING Direct Orange an attractive option for anyone who needs to stash some money away, earn interest, and stay liquid.
The Deal
ING Direct Orange currently pays a very high interest rate (it changes regularly, so check the Web site for the latest). There are no fees or service charges and no minimums. You can link up to 3 checking accounts to the ING Direct Orange Savings Account, and transfer money freely between.
ING Direct Orange also offers other products besides savings, including CDs, mortgages, home equity loans, and even investment accounts. These products are completely separate from the savings offering, but it makes ING Direct an attractive option for convenience-minded users who would rather not have financial accounts at several different companies.
Ease of Use
The ING Direct Web site is pretty customer friendly. The signup process is fast and painless, and the account management section is just like any other online banking site. Initiating a transfer or direct deposit is also easy, and they even offer an automatic transfer option whereby a set amount is transferred from your checking account to the savings account each month.
One aspect of ING Direct that stands out is security. Every time you make an account change, your account will be frozen for a few days and they'll mail you a letter. While this could be considered a slight inconvenience, the focus on security makes ING Direct a generally safer place to do your online banking.
Customer Service
ING Direct Orange is intended mainly as a "self-service" product, but that doesn't mean they have bad customer service. Besides support via e-mail, fax, and mail, they have a toll-free support number which is available until 9:00 PM, 7 days a week.
Overall
In a nutshell, ING Direct Orange offers:
- a high interest rate
- easy online account setup & access
- no setup fees, no regular fees, and no account minimums
- additional financial products besides savings, for convenience-minded users
- good customer service, available toll-free 7 days a week
- FDIC insurance (like all online banks)
Conclusion: You can't go wrong with the ING Direct Orange Savings Account.
Sign up link: ING DIRECT makes $aving money simple! Open your account online today and start earning variable APY. No Fees and No Minimums!
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