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Electric Orange Checking from ING DIRECTRates and Account Features Updated November 15, 2008
ING Direct started an online revolution with the Orange Savings account and they did it again with the Electric Orange Checking account. What makes the Electric Orange Checking account revolutionary is not that it is an online-only checking account, but that it is a paperless checking account.
Electric Orange from ING DIRECT. Earn up to 3.50% APY. Apply today.
Account Features
Account Review
ING Direct started an online revolution with the Orange Savings account and they did it again with the Electric Orange Checking account. What makes the Electric Orange Checking account revolutionary is not that it is an online-only checking account, but that it is a paperless checking account.
That means you don't get a checkbook to write checks with.
By cutting-out the more expensive parts of banking, mainly branch locations and paper checks, ING DIRECT is able to pay higher rates on their deposit products.
But don't worry, you can still send out a check if you need to. Account holders can use the “Send Paper Checks” service or “Send Electric Checks” service if a checking transaction is required.
The “Send Paper Checks” feature is like writing a check, except it's done with your computer online. After you've filled out the information ING DIRECT mails out the check for you. This service is free for checks sent via first-class mail. It's not as easy as grabbing your checkbook and handing over a signed check to pay a friend, roommate or landlord, but at least you have the option.
The “Send Electric Checks” feature is an electronic funds transfer that will send money from your Electric Orange account to another person's bank account. This is a little trickier than sending paper checks because you will need to get a whole lot of information from the recipient such as name, email address, account number and external routing number if you are transferring to a non-ING DIRECT account.
The Electric Orange account also features free online Bill Pay and an Electric Orange MasterCard® Debit Card which customers can use to make purchases anywhere MasterCard® is accepted and to make free withdrawals at ATM locations in all 50 states through the Allpoint™ Network.
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