$25 Opening Bonus For ING Direct Savings and Electric Orange Checking Accounts
ING Direct has been offering $25 sign-up bonuses for their online savings accounts for a while now, but now they are offering them for their online checking accounts as well. I was excited as I thought this meant another $25 bonus for me, but the wording seems to suggest that you must be a customer without any current ING Direct accounts:
Bonuses are only paid for accounts that are opened with an initial deposit of at least $250. Initial deposit does not include bonus. Bonus only available for new accounts with a new Customer. Bonus starts earning interest upon account
So it seems that you can only get one or the other (unless someone tries and reports otherwise). If you aren’t a customer yet and wish to open up either ING Direct account with at least $250, you can get $25 bonus links to sign up with here. I’ve already had over 1,000 ING Direct accounts opened via this blog! That’s $25,000 in bonuses earned by readers! Hopefully jump-started some savings habits as well.
Quick Summary
Orange Savings Account – 4.50% APY, No minimums, no monthly fees, links to your existing checking account. I often refer to ING as “old faithful” since their online-only savings account was one of the first of its kind. (more info)
Electric Orange Checking Account – 4% APY up to $50k, 5.25% for $50-$100k, 5.30% for over $100k, no minimums and no monthly fees, offers BillPay service, can request checks to be sent online, but no checkbooks allowed. Also can link to your existing bank accounts. (previous review here)
Find more in Banking, Deals & Offers | 8/7/07, 5:02am | Trackback
August 7th, 2007 at 5:57 am
“That?s $25,000 in bonuses!”
… Not to mention $10,000 in cash for you!
Step 1. Create Financial Blog
Step 2. Develop readership
Step 3. Profit!
August 7th, 2007 at 6:01 am
Quick question for you, as a curiosity:
How many checking, savings, brokerage, and credit card accounts do you have? Does Equifax deliver your credit report by forklift?
I’ve signed up for a few bonuses and 0% BT credit cards in my time, but I’m just wondering if the sheer number of accounts begins to be too hard to manage over time. Or maybe you close accounts regularly..?
August 7th, 2007 at 6:03 am
So that means that you can go past the maximum of 25 referrals? They will still give you money?
August 7th, 2007 at 6:33 am
$10,000, ha, I wish! Everyone only gets 25. I did get $250 for me and $250 for my wife. Then, I filled the referrals for everyone friend and family member I knew for free. Can you believe lots of people turned down my offer?! “Too much trouble…”
Next, I filled a bunch of reader referrals in return for allowing me to refer my readers to things. I just gave away another 25 free on Sunday as well
Now, I am doing a deal where I split the referral bonus with willing readers. I fill them, I split the $10 with you. Works good for people who can’t fill all 25 by themselves. You can e-mail me if you’re interested, but I do have a number of people already lined up.
—
Guapo – I usually close bank accounts once I get the bonus and see no long-term benefit to the account. I close credit card accounts less regularly, usually because I want to open another new account and the issuer limits me to 4 cards from.
I use Yodlee to manage things, it’s really not that bad. Unused credit cards don’t generate statements, so no extra paperwork, and most online banks use e-statements.
August 7th, 2007 at 6:39 am
I’m pretty sure that Jonathan is distributing other people’s referral codes. So that’s about $10,00 cash for his blog readers!
August 7th, 2007 at 6:40 am
Opps, I was a moment too late.
August 7th, 2007 at 9:04 am
“Can you believe lots of people turned down my offer?! ?Too much trouble??”
Jonathan, I had the same issue with my friends and family – trying to get them to open an ING with my referral.. I even said, bring your checkbook to my house, I’ll fill out the form for you.. They still wouldn’t do it. Yet, if they saw a $20 and $5 bill on the ground they’d kill ya for it.. I don’t get it…
August 7th, 2007 at 10:47 am
Dave, it’s because some people don’t think it’s worth it to have another banking accounting to deal with (or not to deal with even).
To quote ‘The Girl Next Door’, “You’ve got to ask yourself….is the juice worth the squeeze?”
Is a $10 bonus really worth having another account open if you don’t really need it? It is for some. For others, it isn’t. I remember reading one of Jonathon’s post about him making a rule for himself that he will not open a new credit card or banking account unless the bonus is at least $100.
August 7th, 2007 at 11:05 am
I closed my ING savings account more than 6 months ago. I don’t currently have any accounts with them. Would I be considered a new customer if I sign up now? If anyone has experience with this, please let me know. Thanks.
August 7th, 2007 at 11:15 am
To Jimmy,
I don’t you can re-sign and get the bonus. I remember calling because I was trying to drop my exhubby’s name from the account. They said once you have an account with them, your SS # will always remain. So if you tried to open on up in the future, they will recognize that you had an account in the past.
I inquired about 2 years ago, so things could have changed.
August 7th, 2007 at 1:10 pm
How do you compare Yodlee to something like Quicken? What does Yodlee give you that Quicken/Money doesn’t?
How much account info do you supply to Yodlee? Usernames/passwords? My bank (Wachovia) has a One-Stop financial manager where I can add my credit cards, wireless phone, home loans, etc… but it asks for all the usernames and passwords. Even though it would be wonderfully convenient, I’ve balked at giving one institution the keys to all my kingdoms.
August 7th, 2007 at 4:04 pm
Guapo:
I believe Wachovia’s “One-Stop financial manager” is actually just Yodlee in the background. Not completely sure b/c I don’t have an account with them… but I did remember seeing they were a client.
Take a look: http://corporate.yodlee.com/customers/clients.htm
-Brandon
August 7th, 2007 at 4:05 pm
Kyle – $10 perhaps. But I was offering them $250 by filling ALL 25 of their referrals!
Jimmy – They are pretty good at keeping old SSNs in their database.
guapo – OneStop = re-badged Yodlee licensed by Wachovia.
Why I use Yodlee (and why others don’t)
August 7th, 2007 at 7:03 pm
Thanks. I believe I’ll stick with Quicken. Your arguments for convenience are decent, but Quicken gives me almost all the convenience, with the advantages that 1) my home PC is not as big of a target to hackers as a bank database is and 2) I control the security.
Additionally, I have all my data, so I can pull a nifty report whenever I want… like the one I did yesterday to calculate total cost of ownership for our vehicles to see if the Acura was better than the Nissan. Not to mention budgeting, taxes, net worth snapshots, investment performance, etc, etc.
Anyway… Different strokes for different folks… thanks for the info.
August 8th, 2007 at 1:58 am
so since i already have an orange savings account, i guess that means i cant get the bonus for doing a orange checking signup?
hmm i never really looked into the orange checking account, but now i think i may just signup for one. i used a wells fargo free checking account + visa all through college and just graduated. now i’m back living in areas with wamu’s for my job so i just signed up for the free checking/5% apy savings deal for local stuff. problem is my amex/cap one/etc cards all dont allow payments from savings accounts, but if i did direct deposit to an orange checking with 3.5+% i could do bills from there and use the wamu for all my local needs while still maximizing my interest.
***epiphany***
i guess i should ask then, does anyone know what the (idle?) minimums are in these accounts before they shut them down? (ie if i leave my orange savings basically empty and utilize the higher wamu apy).
thanks!
August 8th, 2007 at 1:43 pm
Hey thanks, i got my ten bucks yesterday!
August 8th, 2007 at 2:12 pm
This sounds like a decent deal. I really like the referral type system, too bad there’s a cap
September 19th, 2007 at 6:22 am
I noticed that ING quietly cut all their interest rates on all the deposit accounts right in line with th fed interest rate cut (though not as much)
Yesterday, the Orange savings yielded 4.5% while today it yields 4.3%
Yesterday, the CDs yielded 5.1% (5.25% for added value), today they yield 4.9%, which is less than Emigrant’s Savings
February 1st, 2008 at 2:54 pm
I have some questions about refer link.
Can you explain how to make refer build in ING homepage.
I tried to..
But, ING web site need other people’s last name, first name, and email address.
April 5th, 2008 at 10:25 am
How long did it take for you guys to get the bonus? I’ve got my account open since Mar 15th and I’m still not seeing my $25 bonus.
April 5th, 2008 at 5:31 pm
AnakM – It should show up immediately upon opening the account, if all went as planned.
May 10th, 2008 at 8:53 pm
Thanks Jonathan. It took a little while for it to show up but it eventually did. I just closed out my account with my bonus $