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ING Direct's 2011 Black Friday Specials: $107 Electric Orange Bonus



ING Direct is now offering their Black Friday specials. The offers are available through 11/27/2011. The Electric Orange promo is a little better than last year's promo. Here's a summary of the deposit promotions:

  • $107 bonus for opening the Electric Orange Checking Account and making at least 5 purchases using your Electric Orange Card or Person2Person Payments (or any combination of the two) within 45 days. Bonus is only available for new Electric Orange checking.
  • $32 bonus for opening a new MONEY account and making 1 Card transaction (either signature, PIN-based or with PayPass) using your MONEY Card within 30 days. I did a review of ING Direct's MONEY account last week.
  • $27 bonus for opening a Kids Savings Account. Either you or your kid must be a new customer. I did a review of ING Direct's Kids Savings Account last year.

Be sure to check ING Direct's Black Friday Sale page for the promotion details.

Electric Orange Account Promotion

If you don't have an Electric Orange (EO) account, this is a good time to open one. This Black Friday bonus of $107 is over twice the common $50 bonus, and it's a little higher than last year's Black Friday bonus of $103. However, it's lower than last year's Independence Day bonus of $126.

ING Direct has made several improvements to their EO account in the last year. First, ING Direct now allows paper checks. I have the full details in my ING Direct paper checks review. Second, it has made improvements to its Person2Person payment service which makes it easy to send payments to friends and family. Third, ING Direct has made it easier to use services like by providing a Personal Finance Access Code.

One improvement that should come soon is the ability to deposit checks online from your home. When I asked ING Direct in March, I was told the expected release date is summer or fall of this year. ING Direct's FAQ page has the following about this question:

I hear a lot of buzz about being able to scan checks for deposit called Remote Deposit Capture. Is this something ING DIRECT will offer in the future?

Let’s just say, it’s in the works. We’re working hard to offer you more convenient ways to make deposits into your ING DIRECT account(s). Stay tuned.

For those who don't want to worry about monthly fees or who want a little higher interest rate on large balances, the EO account can be a good choice.

Kids Savings & MONEY Account Promotion

For those with children, the Kids Savings and MONEY Account can be useful. Like all of ING Direct accounts, it's easy to open and you don't have to worry about minimum balance requirements or monthly fees. Adults open these accounts as joint accounts with their children. Unlike the standard joint account, the kid has limited access. Only the adult has permission to transfer money. I reviewed the Kids Savings Account last year. The MONEY Account was just launched in October. It's basically a checking account for teens that gives the ability to use debit cards. I have more details in my ING Direct MONEY account review.

For the $27 Kids Savings Account promotion, the promo page states that:

Only available when you open a new account with at least one new Customer (either you or the kiddo must be a new Customer to ING DIRECT).

However, I don't see this limitation in the MONEY promo page. So you may be able to qualify for both promos if you open the Kids Savings Account first.

Other ING Direct Black Friday Specials

I don't have anything extra to say about the other promotions. I'll just provide the summary from ING Direct's website:

  • $100 bonus for opening a new ShareBuilder account between November 25 – 27 and complete two trades by January 31. Note, this is an investment account and not a bank account. So it is NOT insured by the FDIC. Also, stock and ETF trades cost $9.95.
  • $100 bonus for rolling over your old 401(k) into a ShareBuilder IRA. You can invest in stocks, ETFs and mutual funds. Note, this is an investment account and not a bank account. So it is NOT insured by the FDIC.
  • Sale prices at

My Take

I'm disappointed that ING Direct did not offer bank deals for existing members who don't have kids. In ING Direct's first Black Friday Sale in 2009, it offered a special rate on its 12-month CD, and last year it offered a special 3-year IRA CD rate. I was hoping that it would offer similar deals this year. Based on its low standard CD rates (0.60% for terms under 30 months), it appears ING Direct doesn't want any more CD deposits. So that may be the reason it didn't offer any CD or IRA CD promotional rates this year.

Future of ING Direct

Some readers were concerned when it was announced that Capital One was going to acquire ING Direct. However, Capital One has long offered free internet checking and savings accounts. Also, as I described in my review of this acquisition, I think it's likely that Capital One will want to keep the ING Direct website and brand. So my guess is that ING Direct customers won't see many changes.

  Tags: ING DIRECT, checking account

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Comment #2 by Anonymous posted on

Comment #3 by Anonymous posted on
Anyone know if YOU can open up a 2nd Sharebuilder Account with this blackfriday bonus? Only the ElectricOrange has a disclaimer "Bonus only available for new Electric Orange checking customers." Nothing for Sharebuilder.

Comment #4 by Anonymous posted on
#3: Limit 1 sharebuilder account per unique customer or custodial beneficiary.

Comment #5 by Anonymous posted on
The macman and the louloon are trolls. Beware!

Comment #6 by RJM posted on
capital one would do well to totally avoid letting people know that they own ING.

ING  has built up a lot of goodwill

Capital One has built up massive badwill.

I might do the sharebuilder deal.

Last time it was $76 but didnt require the 2 trades.

But, Im not sure I want to fool with it.

I have a brokerage account at Fidelity.

Id like to hook up my neices & nephews with savings accounts for the bonuses but Im not sure I want to deal with the multiple 1099s for chump change.

(Im assuming I would get a 1099 for each one)

Comment #7 by Anonymous posted on
If you have ever opened an account with ING Direct, when you try to open a new account, it will find the old informaion (even if the account was closed years before) and will say that the person is already in the system and if it says so, this deal is a no go ($107).

Comment #8 by Anonymous posted on
What consitutes being a "new member?"  I had an account with them years ago.  Does this disqualify me?  Most banks concider someone a new member if they did not bank with them for over a year.  Does anyone know if ING is like that?

Comment #9 by Anonymous posted on
This is Anon. #8.  I just called ING and I was told that if anyone took advantage in one of their previous specials, they are NOT eligible for this one.  I took advantage of their Independence Day promo back in 2010.  Oh well...

Comment #10 by Anonymous posted on
Grinch, nothing new for the old customers, as usual ING failed to reward the faithful and devoted supporters.

Comment #11 by Anonymous posted on
I just noticed that the MONEY bonus is PER CHILD. You can open an account for each child and each one will be eligible for $32!

We have 3 kids, just made $96!!

Comment #12 by Anonymous posted on
Anon. #10: ING rewards its current customers every day with respectable interest rates (compared with other banks) and great features like P2P and linked accounts. I've been with them for about 3 years and have taken advantage of all the specials I was eligible for over the years. ING has been very good to me, IMO. Why be greedy? If Capital One gets in there and starts messing with a good thing, you may be singing a different tune.

Comment #13 by Anonymous posted on
To Anonymous - #12,

ING is not the best out there, you must be a PR guy (gall) for ING.

Cons:   ACH slow
           low rates
           P2P is available at most banks now
           no checks until recently

Pros:   None for me

Comment #14 by randolph knox (anonymous) posted on
randolph knox
agree with  5

Comment #15 by Anonymous posted on
HAs anyone received thir bonus(es) yet?


Comment #16 by Anonymous posted on

Comment #17 by Anonymous posted on
Chase!  An honest bank?  That's a joke, right?