Orange Savings Account Info

Online savings account are extremely popular these days.

The most popular one is ING Direct, which was is part of the Dutch financial-services conglomerate ING. Those concerned with the financial crisis can be at ease; ING is vital to the Dutch economy and the Dutch government has injected over $13 billion into it. In addition, all ING direct savings account are FDIC insured.

ING Direct is no new comer to this game. They actually pioneered the market and introduced their orange savings account in late 2000. They now have over five million customers. ING has been so successful that they are being copied by competitors like Citi and HSBC.

Many of these newcomers are offering higher rates than ING. But there are several reasons why one should not just go with the bank with the highest rate.

• Many of these competitors are merely offering “teaser” rates. Once they obtain enough deposits they will bring down their rates significantly.
• Many banks have high five-figure minimums for account size. ING has no minimum.
• ING has no fees. Others might.
• Signing up takes 5 minutes with an ING orange savings account. Not all newcomers have perfected their system and their signup processes are sometimes tedious.
• Likewise with user interface. ING has been in the game for awhile and their orange savings account are very easy to use. It’s a mixed bag with the other banks
• Cash is available in a few business days with ING. All you have to do is initiate a transfer. Other banks are not as quick.

If you are looking to boost the return you get on your cash savings (every little bit helps in this kind of an economy), you should serious consider an orange savings account. I actually referred my Mother. The only type of person that should not is if you need constant contact with a bank customer representative.