Lately, I have become extremely frustrated with banks that I do business with. I detest the numerous fees that are tacked on to my account. I just don’t understand the concept of them charging for me to put my own money in an account. I recently had to close a checking account at a well-known bank because they initiated a new charge that would allow them to “steal” (yes they were stealing) $12 from my checking account each month if I did not keep a minimum of $500 in my account. I refused to pay $12 to keep money in my own checking account. This account was just a secondary account so it really didn’t matter. So I made the decision to close my account, the way I looked at it, it was their loss.
Looking for a New Checking Account
I began to research alternative options for checking accounts. I still needed to keep multiple checking accounts because I do so many online transactions and I like to have an account just for that. I was actually considering going to a credit union when a friend told me about an online bank called ING Direct. He told me that they offer checking, savings, and mortgage financing. I was a little skeptical but decided to check it out for myself. After thoroughly reviewing their website, I was floored. Their options are actually great! I am most interested in the checking account so that is what I will describe to you.
To begin with I like the fact that there are no fees and no minimums. It seems that more and more banks are initiating fees if you don’t keep a certain amount of money in the bank. I’m not blind to what banks are actually doing. I know that they’re investing the money that their customers keep in their savings accounts. I love the fact that with ING customers are free to keep whatever amount of money in their account. There are no overdraft charges, no monthly fees.
Now I must say that my one concern was the convenience of an ATM so that I could withdraw and deposit money when I needed to. Apparently with ING that is not an issue because they have 35,000 ATM’s, not to mention there are no surcharges.
If you decide that this is right for you, sign up is pretty simple. All I did was go to the website and click “apply now”. ING is also offering a special to people who initially sign up. If three purchases are made using your debit card within the first 45 days, they will automatically deposit a $50 bonus on the 50th day. For me, using an online bank was a great option and I’m not sure if I would want to go back to using a traditional bank now.
Do you use ING Direct? What is your experience?