ING's orange savings account

ING's orange savings account has been around the longest. So I guess I'm obliged to give them a review.

I actually signed up for them when the originally came out. This was over 5 years ago, back when the internet was the wild wild west. So I guess I do have sentimental attachment to them.

Pros:
* Backed by ING, a multi-billion dollar banking conglomerate based in Europe (Netherlands I believe)
* Interface is well developed. Their original site was a lot different. Trust me, they've improved it a lot. Some of the newer banks are just starting out and to be honest they are quite difficult to use.
* Rates decent

Cons:
* Rates are not the highest. They know most people are not going to jump ship for an extra tenth of a percentage point. So they don't try to compete on interest rates.

So should you use them? Probably not if you're a rate-chaser. I used to be. Many banks used to offer a $100 starbucks card free ipod, etc. to sign up. What I would do is just keep moving every so month and getting freebies. This was great, as I got a ton of free stuff. Plus my interest rates were high.

But as I've gotten older I've settled down in my banking relationships (haha!).


Rating: 4.5/5 stars.