Update 6/30/2012: The Sale has begun. Please see my promotion review for the details.
Update 6/26/2012: I just received news of one of the offers. Here's how it was described: "Open Electric Orange checking and get $76 to give it a test drive and $76 more for making the switch."
ING DIRECT is having another promotion associated with Independence Day, and as usual, it's not providing many details in its promotions page. The only detail listed is that the promotion will be available from Saturday, June 30th, 12:00 AM ET to Tuesday, July 3rd, 11:59 PM ET. We'll have to wait for Saturday before we can learn all the details.
With ING DIRECT being transitioned into Capital One, I thought they might decide to drop this promotion. This is another sign that Capital One is letting ING DIRECT operate like it has in the past.
For the 3 years, ING Direct has offered promotions on Black Fridays (after Thanksgiving) and before the Fourth of July. You can see what they offered in past promotions in my old posts:
- 2011 Back Friday offers: $107 EO bonus, $32 MONEY account bonus, $27 Kids Savings account bonus
- 2011 Independence Day offers: $126 EO bonus, $76 ShareBuilder bonus, $76 IRA bonus
- 2010 Black Friday offers: $103 EO bonus, 2% 3-year IRA CD
- 2010 Independence Day offers: $76 EO bonus, $76 Sharebuilder bonus
- 2009 Black Friday offers: 2% 12-month CD, $121 EO bonus
The 2009 Black Friday had the best promos for existing customers with a competitive rate on its 1-year CD. We haven't seen another CD promo since then, so I'll be surprised if we see one this time. With a 1-year ING DIRECT CD rate that's currently only 0.50%, I don't have much hope for a good CD deal.
The best deals will likely be for those who haven't opened an Electric Orange account or ShareBuilder account. Sign-up bonuses for those accounts have been common in the past 3 years. The size of these bonuses are often larger than the standard bonuses that are regularly offered, so they may be good deals.
You can see how ING Direct's Electric Orange compares to Ally's checking account in my new internet checking review.