ING Direct has started a new promotion for its Electric Orange customers. Emails were just sent. Make at least 5 purchases of $10 each with your Electric Orange Debit card in November, and ING Direct will deposit a bonus into your EO account on December 15th. It appears ING Direct enrolled existing customers of the Electric Orange Account. According to the ING Direct CSR, this is a targeted promotion. If you're not already an EO account holder, you may not be able to qualify for this promotion if you apply now.
ING Direct apparently had two bonus levels: $10 and $20. I received the email for the $10 bonus, but the email listed the link to ingdirect.com/wise which mentioned the $20 bonus. A reader forwarded me her email, and the email listed $20 but it linked to ingdirect.com/spendwise which mentioned the $10 bonus. It appears they mixed up the emails and the links. So when I called, I asked about which one I would qualify for. The CSR made a note to my account so if on 12/15 I only get $10, I can call and get it changed to $20. So if you've received this email and are interested in this promotion, I recommend calling to ensure you get the $20 bonus. I would expect a new email may come out soon to correct this mistake. Hopefully, everyone will qualify for the $20 bonus. It should be an easy $20.
If you're not yet an ING Direct customer, there is a $25 referral bonus that's available. You can email me at bankdeals at gmail.com. Please include your first and last name, and let me know which account referral you want (savings or checking). Note, the bonus requires a minimum initial deposit of $250.
ING Direct is known for its easy online interface rather than the best rates. However, it does have a few features that are not the best for an online bank. These have to due with their ACH transfer system. The downsides include:
- limit of 3 linked checking accounts
- Linked account must be a personal checking account, not a brokerage, money market or savings account
- ING Direct places a hold of 5 business days for deposits (initial deposit has a 10-day hold)
ING Direct's bank deposit products are FDIC insured (FDIC Certificate # 35489)