I received a lot of emails about my previous posts—“How to Make Money with $100”. I mentioned that if you have an ING orange saving account, you can get up to $250 bonus by referring your family members or friends to open orange saving account. Some of friends are not sure all the features of this account. Many of them are afraid of be charged extra fees by ING. I have been using this account for a long time and like it very much. Hereby I write a brief review with this account.

ING Direct is a branchless or virtual bank in the United States that was funded in 2000. ING Direct is a member of Feral Deposit Insurance Corporation (FDIC). I think most of us have known that the Net Bank was acquired by ING in September 2007.

People open the orange saving account for two goals: 1). Use it to make direct deposit to take advantage of sign-up bonuses offered by other banks or financial institutes; 2). Enjoy the famous $25 sing-up bonus and earn high rate interest (currently 4.2% APY). A unique feature is you don’t have to maintain a minimum balance to get such high interest rate. As long as your account is active, you can enjoy the 4.20% interest rate without any restrictions.

$25 sign-up bonus if you referred by your friends with minimum $250 initial deposit. (Sometimes they offer $50.)

High interest rate, no monthly fees.

No minimum balance required to earn interest.

No fees, no service charges, no penalties, no hidden fees.

24/7 access your online account.

Link other bank accounts can be easily done via mailing checks or online (Maximum 3 external accounts can be linked online. No maximum accounts limit if you link account through mailing checks.)

Safe and secure—FDIC insured.

They offer Automatic Savings Plan which allows you to automatically have a fixed amount of money regularly transfer to your orange saving account from your linked checking account. All you have to do is to specify how much money you would like transferred, and how often you would like it moved. It’s very simple and easy to maximum your earning.

Other comments:

You might have to wait 10 days until your initial deposit becomes available. Your sing-up bonus will show up immediately you open the account. You have to wait 30 days or so to link other accounts online. At the same time, you can link your other bank account by mailing a check to them. Online funds transfer usually can be finished in 3 business days without any charges. No hard pull to open this account. Click here to learn more features.