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Today I logged into my ING orange savings account and found that the referral promotion from ING Direct is working again. This referral promotion from ING Direct is very famous in the late 2007 and early 2008. And for a while, this promotion seemed to be dead. But in my account, I can see the banner for referring new customers to ING and earn up to $500 again. Both the referral and referred customers will earn bonus from ING Direct. $25 for new customers being referred to open a new account at ING with $250 deposit. And $10 for current ING Direct member who refer new customers to ING.

How it Works:
If your friend opens an account with at least $250, we will deposit a $25 bonus in their new account and a $10 thank you bonus in your ING DIRECT Account.

Important points:

• Your friends MUST use the referral link within the email sent from this screen to ensure they get the $25 welcome bonus.
• We will send the email on your behalf, so that the “From” field will display your name and the email address we have for you.
• For privacy reasons, we are not able to disclose which of your friends has opened an account with us or the initial deposit amount.
• The $25 bonus is only available for new Customers opening a new account as a primary owner.
• Your $10 thank you bonus will be added to your account upon the completion of the account opening process for qualifying accounts.

If you have friends or family members who have an account at ING Direct, you can ask them to refer you and both of you can earn bonuses from ING. Or you can contact me via sending email to cardoffer8 at gmail com. Both of us will earn some money from ING. Also please clarify which account you want to be referred, orange savings account or electronic orange account.

ShareBuilder.com is a famous online stock brokerage firm founded in 1996 and now it’s an ING company (purchased by ING in November 2007). ShareBuilder built its name by having low commissions and easy-to-use online interface. ShareBuilder also provides service for recurring, and automatic purchases of shares of stock and ETFs.

I received a postcard from ShareBuilder which offers $50 sign up bonus plus cheap commission opportunities. I’d like to share the promotion with you. I personally think it’s a time to buy in some potential stocks and wait for growth. The $50 bonus is very easy to get—Open your account using the promotion code INVEST50, make a trade before 12/31/08, and $50 will be deposited in your account in 4 to 6 weeks. Details can be found at www.sharebuilder.com/invest50.

The account at sharebuilder.com features no account minimum balance requirement and no inactivity fees. You can choose from more than 7,000 stocks and ETFs. You can even schedule your investments on a weekly, biweekly or monthly basis.

Another feature of ShareBuilder that is worth mentioning is the ability to buy fractional shares. I believe this is the only one brokerage company that allows you to buy fractional shares. No other brokerage allows you to buy fractional shares of stock. This feature helps you to invest your money on a regular basis. For example, you can invest $100 weekly to buy Citi stocks regardless of the real prices of Citi stocks.

However, I’d like to mention that the $4 per trade is only available on every Tuesday. You can schedule to buy a stock on Tuesday for $4 per trade. But on other days, the price is pretty high compared to other brokerages. So the ability to schedule a trade is really great.

Another feature is periodic promotion from ShareBuilder.com. ShareBuilder always offer sign up bonuses or other kinds of promotions to its new or current customers which makes your experience of ShareBuilder.com much better.

Of course, there are other great brokerages you can consider before you open up an account online like E*Trade, Zecco, TradeKing, and TD Ameritrade etc.

Following are two articles for your reference: SmartMoney’s Annual Broker Survey and Best of the Online Brokers-Kiplinger’s Personal Finance.

ING Direct was just mentioned here several days ago about a lawsuit against a customer who took a total of $9,180 from ING via “refer a friend” program. ING just released a new promotion targeted to selected customers for using their Electric Orange Debit Card. This promotion was sent out via email. Anyone who received the email can get either a $10 or $20 bonus for using ING Electric Orange Debit Card in November.

According to the promotion page, you have to do the following steps to get the bonus:

1. You are enrolled in the Electric Orange Checking Account.

2. Make at least 5 purchases of $10 with your Electric Orange Debit Card in November.

3. The purchases must be displayed on your November statement.

4. A $20 bonus will be automatically deposited into your Electric Orange Checking Account by December 15th.

5. Only 1 bonus is allowed for each account.

The promotion page for the $20 bonus can be found at http://www.ingdirect.com/wise.

If you are an ING Electric Orange Checking Account owner, you are automatically enrolled and will receive an email soon. However, if you are not an existing ING Electric Orange Checking Account owner and want to apply for a new one, you are not qualified to receive this promotion.

As I mentioned in the “Top 7 Online Banks for High Interest Rate“, ING Direct was rated as one of the top online savings account and was famous for its easy user interface. Don’t be scared by the story of the lawsuit, if you just want to refer your friends to ING.

For those who don’t have an Electric Orange Account, there is another promotion running which will give new customers $50 bonus. But you have to do it by October 31, 2008.

Here is how:

1. Open an Electric Orange account online
2. Enter EM227 when prompted for a reference code
3. Activate your debit and make 3 signature-based transactions within 45 days
4. Receive a $50 credit in your account within 50 days

If you want to open an ING Direct Electric Orange Checking Account, you should act soon.

ING Direct, the branchless direct bank with operations via the Internet, phone, ATM or by mail, is thought to be one of the most popular high rate savings service providers. ING has a very famous sign up/referral program for its Orange Savings Account from which two customers can get $35 ($10 & $25 for each) from ING. I personally got about $100 from ING for referring new customers to open a new Orange Savings Account with $250 initial deposit.

Today I read about a very scaring story about the famous ING referral program. ING Direct is going after someone who got the bank too much bonus!

According to the report from Boston Herald, ING Direct is suing a 24-year-old for allegedly abusing ING’s corporate trademark and manipulating a program it sponsored to drum up deposits for the bank.

The lawsuit indicated that John B. “Breck” Yunits referred 918 new customers to its online banking operations via its “Refer a Friend” program which requires each new client to deposit a minimum $250 in an account a the account opening process. As a reward, Yunits received a $10 bonus for each successful referral, for a total of $9,180.

I have never heard that there is a limit of the number of the referral can be made for an individual. ING claimed that the maximum number of referral bonuses is supposed to be 25. However, Yunits set up an unofficial web site using ING Direct’s name in its address, took prospects’ e-mails and manipulated the company’s online program to exceed the maximum limit for referrals.

It’s interesting to see what the final result for this lawsuit. But it also provides us some hint that the maximum number of referral bonuses is supposed to be 25 which I believe is not very clear on ING’s web site.

The Orange Savings Account is an online savings product offered by ING Direct. Users  can deposit money to their savings account  via two possible methods: electronic transfer from a checking account at another institution, and direct deposit. Customers can link up to three external checking accounts for electronic deposits and withdrawals and make 6 online transfers each month for free. The super easy online interface and excellent customer service support make the ING Orange Savings Account a top choice for many customers.

If you want to shop for a savings account, you can refer to this post.

It’s obvious that current banking system is still not stable. National City Bank followed WaMu and Wachovia’s step to be sold to PNC Bank. Smart American consumers concerned about the safety of their money and investments are increasing turning to trusted online banks and high yield savings accounts for the FDIC insurance protection they afford. Current FDIC insured amount has increased to $250K.

This post is trying to give you some advice on where to shop the best and trust online banks with high yields. If you are looking for the best online banks in terms of those that offer the highest interest rates for checking and savings accounts, you’ve come to the right place. It’s well known that online banks always offer higher rates on savings, money market funds and CDs than generally known banks like Citi, BOA, and Chase.

1. Capital One Direct Banking – 3.55%

Capital One Direct Banking offers 3.55% APY on balance over $10,000. If the deposit is under $10,000, the APY is 2.55%. I think this Capital One online savings account offers one of the best savings rates among the top national banks. During the financial crisis period, there is no negative reports about the Capital One, so I think it’s save to deposit money there. I personally have a Capital One Online Savings Account and I like it very much. The easy to use and link other accounts make me feel that Capital One Direct Banking is a really reliable bank. They will keep sending a statement to you even your balance is $0.02 every month.

2. WT Direct – 3.31%

WT Direct always offers top rates on their high yield savings account. There is no monthly service fees, minimum balance requirement but you have to keep your balance over $10,000 to get the high rate. As their website indicates the WT Direct online banking is part of a family of companies with over 100 years of financial strength and stability—Wilmington Trust Savings Bank. There is no related reports about the falling of this bank. WT Direct was rated as “This institution offers good financial security and has the resource to deal with a variety of adverse economic conditions.” by TheStreet.com.

3. Amboy Direct – 3.25%

Amboy Direct eSavings is an FDIC-insured savings account. For account balance higher than $3,000, you can have 3.25% APY! Plus you can get $50 sign up bonus if you open an eSavings account right now. The other interesting feature of this account is the ability to make (3) free Bank-to-Bank withdrawals and unlimited deposits in any calendar month. There is no monthly balance minimums or service fee.

4. HSBC Direct – 3.00%

It’s no doubt that HSBC Direct is one of the safest online banking choices out there with a wide international and national banking presence. (The world’s local bank!) Although the account opening process is a little complicated for new customers, their customer service is generally good and helpful. HSBC direct online savings account also often offer sign up bonuses. If you travel around the world frequently, HSBC is your top choice.

5. E*Trade Savings – 3.00%

Better known for its online discount broker program, E*Trade also runs a traditional banking component. Their complete savings account features high yield rewards and super fast money transfer service. If you are using the E*Trade brokerage service and want to link E-Trade brokerage account and their online savings, E-Trade’s Complete Saving Account is a recommended choice.

6. Emigrant Direct – 3.00%

The Emigrant Direct American Dream Savings Account is the feature banking product from Emigrant Direct which features no monthly fees and no minimum balance. Furthermore, there is no need to change your checking account. Your American Dream Savings Account will be linked to your current checking account. This bank is always chased by customers seeking for safe and high yield savings products.

7.  ING Direct – 2.75%

When it comes to ING Direct, one thing is common – it’s universally agreed upon is that ING Direct is a great online savings bank. When you read a personal finance blog, online journals, or newspapers, ING Direct is often praised for its super customer support and easy-to-use online account. Once you start a relationship with ING, you just don’t want to try others. Their simplified and streamlined website interface that makes it easy for both advanced users and novice online banking customers to use. The famous Orange Savings Account is not only quick and painless to open, the high yield savings account also imposes no monthly fees or account balance minimums.

I have introduced a lot of sign-up opportunities from banks and credit card issuers. Actually, most brokeage companies also offer sign-up bonuses for using their service. I have a post about the sign-up bonus from ShareBuilder last year which included a lot of promotion codes for opening an account at ShareBuilder.com and get varies amount of bonuses.

However, ShareBuilder was acquired by ING Direct on November 19, 2007 for $220 million. Since then we seldom hear the sign-up bonus from ShareBuilder. Today, I found out a new promotion code from ShareBuilder-Gift50. With this new promotion code, you can get $50 bonus for opening a new account at ShareBuilder after you purchase a first stock through ShareBuilder. This is a decent deal if you want to buy stocks online. In order to get the deal, you have to click “I’m responding to a promotion” button and then enter the promotion code “Gift50“. Otherwise, you can’t get the promotion offer.

In the “Account Type” part, you can choose “Individual Account” (You can open an account for your spouse later with another $50 bonus, so don’t open joint account.). The account at ShareBuilder features:

• No account minimums
• No inactivity fees
• Invest in stocks, mutual funds, and ETFs
• Free automatic investment plan
• Investment guidance
• Gain and loss tracking

ShareBuilder is one of the most popular US brokerage with about 1 million accounts. Sharebuilder offers an easy, convenient way to begin investing, and is relatively inexpensive, but it is not free. And nearly 70% of its customers have less than 3 years of investing experience. ShareBuilder offer a variety of programs to choose from based on your own investment styles. It was rated as the Forbes Best of the Web.

For those who want to learn to invest on stock, ETF or other investments, you can try to start from ShareBuilder. In brief, Sharebuilder is an online discount brokerage that encourages automatic scheduled purchases of stocks and exchange-traded funds and extremely good for beginners.

Some financial service companies are really generous to give out some money to you for trying their financial services. If you decide to keep with their services, you can have the money. If you decide not to be a customer of them, you can still have the money. yes, those companies are willing to pay you to try their services. So we get the chances to make some free money by trying out some financial services.

Revolution Money Exchange-–$25 bonus: This promotion runs until May 15 ,2008. This is why I put this bonus at the first spot. If you haven’t signed up yet, you’d better hurry up. Revolution Money Exchange is a new money transfer tool which is similar to PayPal for online shoppers. This is by far the easiest money to get for me. All you have to do is to sign up and link your account at revolution money exchange to your bank account. You are not required to make a small deposit or use it to buy some merchandises. This promotion was covered by this post.

ING Direct—$25 bonus: This sign-up bonus has a small requirement which I think most of us can easily get qualified—make an initial deposit of $250. Your friend who referred you to open an account at ING Direct can get $10 bonus. I like this account very much. The current APY is around 3%. I have a briefly review about the orange savings account at ING.

HSBC Direct—$25 or $50 bonus: This sign-up bonus requires you to open a savings account and make an initial deposit with a certain amount. HSBC Direct was rated as the “Best Online Savings Account” in 2006 by Kiplinger. Actually, instead of using PayPal or ING Direct to do direct deposit, you can also use HSBC Direct to make direct deposit to qualify for certain sign-up bonuses which require you to make direct deposits to your account there. HSBC sign-up bonus expires on May 31, 2008.

ShareBuilder—$50 bonus: If you open an account with this brokerage through their partner websites and make one qualified trade, you can get $50 bonus. The link to get the sign-up bonus can be found here. Costco members can use this link to get $55 bonus.

Prosper—$25 bonus: This is a famous as well as popular person-to-person lending club. You can get much higher interest rate than putting money in your savings accounts or money market accounts. Plus you can get $25 bonus once you make a loan with $50. You can visit www.prosper.com for more details.

eBates—$10 gift card bonus: eBates is a popular cash back website, you can earn extra cash rewards using the links provided by eBates. At the same time, you can still earn cash back from your credit cards. In order to get the $10 bonus, you have to make a qualified purchase through eBates within a certain time period. To minimize you spending, you can purchase a song from iTunes or Amazon.Com which will only cost you $1.0.

The above mentioned sign-up bonuses are quite easy to get. However, you can get much more money by applying for credit cards which offer huge sign-up bonuses. The comprehensive list of sign-up bonus in this May is here.

Nowadays there are many online banks offering all kinds of banking services like: checking accounts, savings accounts, money market accounts and certificate of deposits (CDs). You might be quite familiar with some of them as they are advertising all the time. However, you might also have never heard of some of them. The later sometimes may even offer better interest rates than other well-known banking institutions. Before you start your relationship with a new bank, you have to do a little bit research about the new bank. You have to make sure that the bank is insured by FDIC and have been in banking business for many years.

Following online banking institutions as recommended here provide good customer support and offer competitive rates.

1. ING Direct

I should admit that ING is not always offering best interest rate in banking industry but they are a very good online bank to deal with. Right now, their ING Orange Savings Account is still offering 3.00% APY. I choose ING as the NO 1 online bank just because of how easy they make everything. I can easily transfer any amount in and out of my account at ING. The online banking interface is also very intuitive. You can also easily refer your friends to open a new account there and both of you can get bonus. Current APY is 3.00%. (Frankly speaking, interest rate is not the most important factor when the rates only differ by 0.5%.)

2. Washington Mutual

This is my another favorite bank by far. If you open a free checking account together with an online savings account, you can get 3.30% APY. With WaMu, you can get free checks for life, cash back on your debit card purchases, free ATM withdraws, free outgoing wire transfers worldwide and most importantly, no monthly fees! Yes, WaMu is so good! You can use their online banking service without any worry. The free of fees, convenience and high yield interest make WaMu checking/savings combination a top choice for all of you.

3. HSBC Direct

If you are not comfortable with WaMu, you can consider HSBC Direct banking as another option. HSBC direct is rated as the Best Overall Online Bank by Kiplinger’s Personal Finance in 2006. HSBC currently offer a very competitive interest rate ~ 3.05% APY. Their service is completely online. You can transfer you money in and out of your current banking accounts for free. Their customer support is also very helpful. However, if you have an account at ING, I really doubt whether you will open another account at HSBC. Of course, if you have an account at HSBC, I will also doubt whether you will open another one at ING. Sometimes, once you have  a high-yield savings  account,  you really don’t need to open another one. HSBC is offering  $75 sign-up bonus through May 31, 2008 (here).

4. E*Trade

E*Trade, known as a discount online broker, is also a very competitive online bank. E*Trade only provides Complete Savings Account and Money Market Account. The reason why I put E*Trade here is you can link your banking account with your brokerage account at E*Trade  and instantly transfer funds between the two accounts. This feature enables you to transfer your funds between a savings account and brokerage account immediately. In this way, you don’t have to wait for several days until an ACH transfer completes.

Of course, there are other online banks provide great service and competitive rates. You can also consider CapitalOne Direct Banking, WT Direct, AmTrust and Emigrant Direct. They also offer great interest rates but other than that you can’t expect more. This post is open to all of you, please feel free to list your top online banking institutions.