Author Topic: Anyone here use Electric Orange (ING) Checking?  (Read 1509 times)

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92UrS4

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Anyone here use Electric Orange (ING) Checking?
« on: January 31, 2007, 04:00:45 PM »
aka Paperless Checking, no checkbook.

As an existing ING customer you can setup this new type of account so I figured I'd give it a shot, earns more interest than my current checking at FirstBank by far, I think it is at 3% currently.

While I don;t write many checks, I still fear needing to right one urgently and whoever I need to write it too not liking my idea of emailing them a link to get their money.

I figure most places take credit/debit cards now and one is included, free ATM access at...what I find is funny...mostly ATMs you get raped at normally (the ones at restaurants).

So I'll keep my FirstBank account for a bit until I get a handle on totally paper free checking, I think it will be nice, not to mention earning more money on my money is a bonus. I think I get like 1% at FB currently.

So anyone else using this account or something similar? If so how do you like it?

ianacole

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Re: Anyone here use Electric Orange (ING) Checking?
« Reply #1 on: January 31, 2007, 04:08:54 PM »
My concern with something like this would be the need to still write checks, like you mentioned.  Cub Scout popcorn sales, Girl Scout cookie sales, babysitters, etc.  I don't carry cash on me much because I hate paying the ATMs, so checks are useful.  Until my babysitter starts carrying a wireless credit card swipe machine I'm kinda stuck ;)
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Re: Anyone here use Electric Orange (ING) Checking?
« Reply #1 on: January 31, 2007, 04:08:54 PM »

DenverPat

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Re: Anyone here use Electric Orange (ING) Checking?
« Reply #2 on: January 31, 2007, 04:17:35 PM »
Jay, I might be able to help you on this.  I have access to FDIC-insured checking accounts with 6.01% interest for the first three months, then 4.16% after that.  There is a $1,500 minimum balance, but as long as you meet that requirement there are zero fees.
Also:
Free Web bill pay
Free unlimited check writing
Free ATM/VisaŽ CheckCard
Normally I wouldn't post something like this, but it seems like it is exactly what you're looking for.
If you want more info, send me a PM or email.
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92UrS4

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Re: Anyone here use Electric Orange (ING) Checking?
« Reply #3 on: January 31, 2007, 04:23:52 PM »
I think my plan will to keep a "free" checking account at FB, cancel the debit card for that account and keep a small amount of money in it. I think I have to transact on it every x months so there are no dormant account fees and have a local checking account for stuff like that. I can still transfer money from the ING account to my local bank account.

I think it will also allow me to be even more of a cheap bastard since it will be harder for me to just write checks to kids selling magazines, cookies, popcorn and candy. :)

We'll see, this is all a test, Renee is doing it with her personal acocunt as well I think and we may give it a shot on the joint account too. My idea is to just abolish both of our personal checking accounts at FB and just hold onto the joint account there and have our personal and another joint account with ING in this paperless plan. That way we have an account we can both move money into and write checks off of here in town.

Not to mention the other drawback...deposits. So if I get a check as a gift, I have to mail it in, so keeping an account locally is a good idea to take care of deposits then I can just transfer that money.

jayryan

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Re: Anyone here use Electric Orange (ING) Checking?
« Reply #4 on: January 31, 2007, 04:36:04 PM »
Dang Pat! I'm definately going to keep that in mind. Funny Jay, I was getting ready to open my ING Savings :)

Thanks Jay, but my sister already did ;)
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92UrS4

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Re: Anyone here use Electric Orange (ING) Checking?
« Reply #5 on: January 31, 2007, 04:41:40 PM »
If you still want to do an ING savings account let me know, I think I can refer you and get you some "free" money. ;)

Pat, PM coming your way.

hotani

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Re: Anyone here use Electric Orange (ING) Checking?
« Reply #6 on: January 31, 2007, 04:48:01 PM »
I just did two things yesterday that almost never happen:
1- wrote a check. It was to pay for tags on the A4, happens every year and I've received more than one ticket in the past for spacing on it.
2- mailed a non-netflix letter. I had to actually buy stamps--WTF?

I use my debit card everywhere and seldom have cash, but unfortunately there are one or two times a year I can't avoid writing a check--which is often followed by the awkward sending of said note in a non-electronic form, with a stamp no less. I'm sure the next time I need to send a letter, the price of stamps will have gone up again and I'll be forced into the post office once more.

The point of all this, as mentioned by others, is that as good an idea as going paperless is, there will always be agencies (read: government) that don't understand the concept and are not equipped to deal with it. I think as long as you have a backup account for writing paper checks (which it looks like you do), then the paperless thing should work great for most cases. Let us know how it works out.
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