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Originally Posted by userasdf1234
None of you guys ever had any problems with ING Direct? To me it just sounds like one of those too good to be true things. Even though there are numerous satisfied customers, i'm still reluctant to set up an account.
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This pertains to ING Direct Orange Savings Account
Positives:
-No cost to open, deposit into, withdraw from, or close the account.
-If referred by a friend, you
get money.
-Your account is FDIC insured just like at the bank on the corner.
-Your account earns a higher interest rate than that bank on the corner.
-Online access to your account.
Negatives:
-You can't withdraw a deposit for 5 business days.
-You can only make 6 withdrawals from the account every month.
-No checks to write out, only trasfers back to your primary checking acct.
-There is no overdraft protection (which you shouldn't want anyways).
Probably more of each category, but this is a quick list. Read their site and the sites of other internet banks (NetBank, Emigrant Direct). Open the account with just a little money. Try it out for a while. If you don't like it, close the account. You get your money plus the money ING gave you for opening it.