Paperless Checking at ING Direct
I just visited my account online at ING Direct and was presented with a survey. They are considering rolling out a new product: Paperless Checking (or "Electric Orange").
The gist of it is it can be used for online bill pay and still earn a good rate for checking accounts. The survey mentioned that ING Direct anticipates starting this program out with a 2.0% APR. According to BankRate.com, the highest interest rate offered for an online checking account is 2.27% at Imperial Capital Bank. This account has a $1,000 minimum to open and a $15 monthly service fee, however.
The highest no-fee online checking account is Everbank.com with a rate of 1.76%. You'll need $1,500 to open that account, however.
I'll follow ING Direct to see if the product is launched, and if it is, what the interest rate and rules are. Fill out the survey to let the company know what you may be looking for in this type of product.
Since Bankrate.com’s list is often incomplete, here is a list of high-yielding checking and savings accounts. The table below lists the accounts and their interest rates (APY), as well as any comments, as of May 5, 2005 (5/5/5). Leave a comment if you have any ... Read
You may remember that I opened an account at Emigrant Direct to take advantage of their 3.25% APY. I received a letter today from the bank explaining that they are limiting one of their features. Read
As you may know, I am in the process of opening a savings account with Emigrant Direct, an on-line bank currently offering an interest rate yielding 3.25 percent. Read
ING Direct now offers a 2.8% APY on their savings accounts, up 20 basis points. This rate is still well below the one offered by Emigrant Direct for that bank's no fee, no minimum balance savings account. Read
