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ING Direct's 2011 Black Friday Sale Predictions



Update 11/25/2011: ING Direct is now offering its Black Friday Sale. Please see my ING Direct Black Friday review for more details.

I'm happy to see that ING Direct will again be offering a Black Friday promotion, and just like last year, we'll have to wait until Friday to see the details. ING Direct's Black Friday Sale page just mentions the date of November 25th to 27th.

ING Direct has been offering a Black Friday promotion for the last two years. The first Black Friday Sale in 2009 was the best one for savers. It offered a 12-month CD special and a $121 bonus for opening the Electric Orange account. The typical EO checking bonus is only $50.

ING Direct's 2009 special 12-month CD yield was 2.00%. As a comparison, Melrose Credit Union's standard 12-month CD yield was 2.07% (Melrose has long been a CD rate leader). Melrose Credit Union's 12-month CD yield is now 1.15%. So if ING Direct again offers a special 12-month CD, a yield around 1.10% would seem reasonable. ING Direct's current standard 12-month CD yield is only 0.60%.

In the 2010 Black Friday Sale, ING Direct replaced the 12-month CD special with a special 3-year IRA CD special. The Electric Orange bonus went down to $103. One new bonus was for opening the Kids Savings Account which had just recently launched. Since ING Direct just recently launched its new kids MONEY account (see my ING Direct MONEY review), I wouldn't be surprised to see a bonus for opening this account. Update 11/22/2011: I just learned from my ING Direct contact, that they will be offering a bonus for opening this MONEY account. The bonus amount is $32, and it requires one debit card transaction using your MONEY Card within 30 days (either signature, PIN-based or with PayPass).

So if you had been considering opening an account at ING Direct, you may want to hold off until Friday. Hopefully, the promotions will be worth the wait.


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Comment #1 by Anonymous posted on
One very disappointing thing about ING Direct has been the fact that they stood out as beng in the small minority of financial institutions that don't permit the designaiton of a beneficiary or beneficiaries (i.e., Payable On Death beneficiaries). That deficiency has meant that I passed ING Direct up and used another bank or credit union because the POD feature is a smart thing for many accountholders to utilize. Maybe ING Direct has or one day will permit desgnation of POD beneficiaties.

Comment #2 by Anonymous posted on
Another disappointment; if you already have an ING Electric Orange checking, you cannot open another (2nd) account with the BF bonus. Also, people have posted here and elsewhere that even if you opened an Electric Orange Checking in 2009 during BF, and closed the account in early Spring 2010, they were in-eligible for the BlackFriday 2010 bonus deal for opening an Electric Orange. Another disappointment: CapitalOne. When will the official merger take-place and FDIC limits? How about the High Yield Checking Account by CapitalOne; they reimburse non-Capital1 ATM fees, give 1.00% yield guarantee for 1st year with 5x national average, and in states where the bank physically exists..the minimum balance is high $5,000.

Comment #3 by RJM posted on
ING wouldnt allow a 2nd Orange checking with no bonus.

Comment #4 by Anonymous posted on
This is why you encourage a parent or sibling to open an account so you both can reap the benefits of the bonus.  Plus, maybe they would like ING and actually decide to switch over.  Good encouragement to atleast try it out.