I love my new Electric Orange account from ING. It is a checking account which (gasp!) earns you interest and allows you to do online bill pay as well as send a check. Now ING
has taken a lot of heat from the other companies who now offer a higher rate of interest on the savings account BUT the Electric Orange account is the best for the combination of interest rate and features of an online checking account.
Since I normally have the money to pay certain bills in my checking account anyway the money is just there languishing and basically collecting dust until it is time to pay the bill. I figure I can at least get a few cents interest before the bill is paid and that is much better than getting nothing at all.
To me just the fact that you can Open a savings account in under five minutes with no fees, no minimums and FDIC insurance
should be a great incentive for you to get the savings account. Once you have that you will be invited to open the Electric Orange checking account where you can start to get even more interest. What could possibly be better than that.
And you don’t even have to let the Orange account be your main account. I use mine as a ‘deposit then forget about it account’ which is basically going to be my emergency fund account. Or as Tony says (from Girlfriends) that is my ‘don’t go back to Fresno’ account.
The Electric Orange is such a juicy good idea that everyone else is dying to try it. According to an article on CNN money even HSBC has already planned to introduce an interest bearing checking account. You can find the story here. ING is a trend setter and I will keep loving all that juicy Orange goodness all the way. Great account, great rate, great service and easy to use to boot!
Viva la naranja! Long live the Orange account!