I would highly recommend opening an account with this bank in addition to your regular bank account. Because they have no physical locations, ING gives you interest rates that are ridiculously higher than you probably get at your bank. Right now, you get 3.4% APY. Unlike other banks that might also offer these high rates, there are no minimums or requirements at ING. You can open an account with $1.
This is great to have as a savings account or emergency fund. Money is almost fully liquid, but it does take a few days to transfer money out of ING to your other bank account. However, if you use this as a savings account, most likely you don’t need to constantly take money out. In this sense, ING is good because it might prevent you from simply taking money out to spend unless it’s a good reason.
I would definitely recommend looking into this bank. The interface online is also very good and intuitive.
You can sign up online. The best way though is to get a referral from a friend or someone that already has an account. By doing that, ING gives you $25 deposited into your account for free! The person who referred you also gets $10. I have an account so if anyone is interested in this deal and doesn’t know someone who has an account, feel free to send me a message and I’ll send you a referral!
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