ING Electric Orange Checking-Thoughts? (pay, rates, deposit, transfer)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I am considering opening an Orange Savings account to start putting some money away. However I have read about the Electric Orange account and since its a checking account, has anyone here used it? If so how well does it work for you? I know it has to be linked to a BM bank but I wanted to know how well this service is, and when it comes to bill-paying.
I know a credit union is a better option, but if one has challenged credit they may have trouble getting one opened since alot of CU's pull credit. Rather not go through that hassle.
Have one.... use it, love it. But to be honest, its an online checking account, it really is no better or worse than anything else I've used. I do like their security feature, it utilizes a one time pad for your pin. i.e. the numbers corresponds to letters like on a phone... except those letters assignments change everytime. So in essence you type in a different series of letters each time you access your account (in addition to the stupid questions).
I've never had an issue, so I've never called CS and can't comment on that.
But because it is an online account, you don't get checkbooks.....so having an emergency plumber work on your house and paying him may be an issue. I only use if for online payment, it was easier this way since I had a savings account with them (great rates back then...no so good now - but better than most). However, I still have a local account for when I need to write checks (10 a year at the most?).
As for CU's. I work for one.. and from what I can see; they should really be very accommodating when it comes to opening saving/checking accounts. I've never heard them pulling credit to open a deposit account.
The fees are also USUALLY much less than commercial banks. In this day and age, the requirements to join a CU are very lax now....I'd definitely look into it.
I am considering opening an Orange Savings account to start putting some money away. However I have read about the Electric Orange account and since its a checking account, has anyone here used it? If so how well does it work for you? I know it has to be linked to a BM bank but I wanted to know how well this service is, and when it comes to bill-paying.
I know a credit union is a better option, but if one has challenged credit they may have trouble getting one opened since alot of CU's pull credit. Rather not go through that hassle.
Electric Orange pulls your credit, so a CU may be a better bet for you.
I've been with ING for a few years and I like my EO account. The only issue is that sometimes I need a paper check and the ING system doesn't handle it very well. For example, I am going to a conference and need to send a check with the registration. ING will easily send a paper check to the conference, but they will not send me a paper check made out to the conference for me to submit with my registration which means that I have to go get a money order which is a pain.
I'm a big fan of ing, having used them for years, but I don't have their checking account, just a bunch of CD's and general savings. I wasn't aware they even had checking service. Even looking at their site now, it doesn't say anything about checking???
I use the linked bank for checking, and transfer money from ing if and when I need some extra.
Why would a CU or any bank check your credit to open a checking account? I've never heard of such a thing. They only care if you have money in the account to cover the check....
What am I missing?
I just did a little more research, and did find checking. It isn't listed under the page I always go in through. Thanks for calling it to my attention, I'l look into it.
I'm a big fan of ing, having used them for years, but I don't have their checking account, just a bunch of CD's and general savings. I wasn't aware they even had checking service. Even looking at their site now, it doesn't say anything about checking???
I use the linked bank for checking, and transfer money from ing if and when I need some extra.
Why would a CU or any bank check your credit to open a checking account? I've never heard of such a thing. They only care if you have money in the account to cover the check....
What am I missing?
Well, one CU I had signed up with when I lived in MI, they pulled my credit, which I think was for their checking account. Another CU I had in the same state did the same thing, but for only a check card. They gave me a free ATM card of course.
Yeah I read the ING version of their checking is the Electric Orange account. I am not sure if I will sign up with that, I may just open a savings account for now. I do have a CU account open with my church, but they don't have any online offers yet.
I'm a big fan of ing, having used them for years, but I don't have their checking account, just a bunch of CD's and general savings. I wasn't aware they even had checking service. Even looking at their site now, it doesn't say anything about checking???
I use the linked bank for checking, and transfer money from ing if and when I need some extra.
Why would a CU or any bank check your credit to open a checking account? I've never heard of such a thing. They only care if you have money in the account to cover the check....
What am I missing?
ING EO pulls your credit to decide how much to offer you in overdraft protection.
Unless you are dropping more than $50k in the account it is higher than ING's Electric Orange plus they refund your ATM fees. And if you are dropping $50k in a checking account you may want to consider some other places for that money.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
