Dedicated to Deposits: Deals, Data, and Discussion

Update on ING Direct Bonuses


ING Direct has another $50 promotion for opening a new Electric Orange Checking account. The promo page is located at, and the new reference code is EM423. This offer is scheduled to end on 1/31/2010. To qualify for this promo, you have to be an existing ING Direct customer without an Electric Orange account. Credit for this find goes to FW member karatz who mentioned it in this FW thread. I've been told by my ING Direct contact that this reference code can be used by anyone.

You're required to use your Electric Orange Debit Card Card to make at least 3 signature-based purchases in the first 45 days after your account has been opened. Signature-based means that you have to use it like a credit card without providing your PIN. In my recent post you can see why banks encourage this.

If you're not an existing ING Direct customer, you may be able to make $75 in bonuses. In past promotions there were reports that you could qualify for this $50 promotion if you first opened an ING Direct Orange Savings Account. You could make a total of $75 if you first sign up for the savings account with a $25 refer-a-friend bonus. I can send you a $25 refer-a-friend referral. This requires a minimum $250 deposit. Send me email at bankdeals at gmail dot com. Make sure to include your first and last name and let me know that you want the referral for the savings account.

ING Direct's Electric Orange Account for the Long Term?

If you don't care about a sign-up bonus, and you just want the best online checking account, there may be better options including Ally's new interest checking account (see my review). I have more details on ING Direct and the Electric Orange Account in this post.

ShareBuilder Bonuses

This is a brokerage deal rather than a bank deal, but it may interest a few people. There are a few bonuses available for opening the ShareBuilder brokerage account (ING Direct's online brokerage). ING Direct's home page is advertising a $50 ShareBuilder bonus. Here's the link to the bonus. It expires on 3/31/2010. This is a common promo at ShareBuilder. Costco members can get a little more. There's also a $100 bonus for transfering a brokerage account to sharebuilder. Fatwallet has more details at this $50 bonus thread and this $100 bonus thread.

In addition to these bonuses, you can also get 10 free Automatic Investment Trade credits in January at This will provide up to $40 worth of savings ($4 per trade).

As a brokerage account, it's not FDIC insured. One thing to note is that in addition to stocks, you can also buy ETFs and mutual funds. Is a ShareBuilder brokerage account a good choice for investors? MyMoneyBlog has a detailed review.

Other Bank and Credit Union Bonuses

To find other bonus deals, please refer to my bank bonus page which has all of my recent bank bonus posts.

  Tags: ING DIRECT, checking account

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Comment #1 by Anonymous posted on
Just my luck I opened an ING Electric Orange Checking account last week.

I really appreciate the work you do on this blog. It really help me in my decision making process.

So far I am very happy with ING. From my research I think they are the best overall of the online banks that don't require high balances to receive full benefits, particularly when it comes to savings accounts. ING is one of the most secure banks. From what I learned about HSBC they are not very secure. HSBC also seems to engage in unscrupulous privacy and mortgage practices.

Comment #3 by Jay Ray (anonymous) posted on
Jay Ray
Here is a new link for a $25 bonus.  Just open your account with $250 or more.

Comment #6 by Lyn (anonymous) posted on
I have a ING Sharebuilder account and also a Scottrade account. I love ING Direct and Scottrade. If you need a nudge to open a Scottrade account , Scottrade is giving away 3 free trades to help out get you started.

Scottrade referrel code: IXFV9382   (3 free trades when you open any type of account)


Comment #7 by dave (anonymous) posted on

Want to know more about Scottrade? Read on to learn more.


Customer Service: Local office customer service is always better than the telephone customer service. So if you ever need any type of assistance or help conducting a trade, your live customer service rep at your local office is your best bet.


Ease of use: The only issue I have with the online trading system is reconciling between the detailed balance and the summary balance. When shorting stocks, it can be difficult to reconcile the balances because of the margin requirements. Also, when you have a margin account, the detailed balance screen does not clearly display how much you have on margin or whether you have used any margin credit. ***TIP*** I have noticed inputting my orders and reconciling on Google Finance allows me to precisely track how much cash I have available.


Fee’s: I am always opposed to paying fee’s, but compared to E*Trade, TD Ameritrade, Charles Schwab, and Fidelity it’s the cheapest. If you open a brand new Scottrade account, you can use the Referral Code: HKLN9839 to get 3 free trades. When Asked “How did you hear about us?” you need to select “Referred by a friend / Received a promotion code (click to enter your code)” and enter the code: HKLN9839.


Minimum Balance: Scottrade’s minimum balance is $500 and is not the lowest compared to TD Ameritrade which is $0. Seeing that most stocks trade anywhere from $1.00 to $100, you’ll need at least that much to buy 1 stock.


Stock Research: I like the ease of Google Finance to do the research on stocks and options, but there are some advantages to Scottrade’s system, it does tell you the date when the stock was at it’s 52 week high and low. Google is easier to use but there is more up to date information on Scottrade, the only problem is that you have to keep refreshing.


Here’s the SECRET for 3 free trades, use the code: