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You know, I was just thinking how great it would be if just one of my three banks (two exclusively online, one B&M and online) would give me free bill pay, high interest, would sweep excess money automatically into the high-interest-paying account and an ATM card with reimbursements. Then I get home and log onto my ING account and there they are telling me about their upcoming Electric Orange Account which would do all those things. I have an elaborate direct deposit scheme that takes advantage of ING's (relatively) high-yield MMA, everbank's straightforward and free electronic bill pay and Washington Mutual's free checking and ubiquitous ATM presence in Manhattan. If ING comes through with this new hyper account, I may be saying goodbye to my other two banks.

Still, however, I have my reasons for maintaining three separate bank accounts. For one, it helps curb my spending habits since it takes days to get my savings out of ING into everbank and then into WaMu where I can access it with my only ATM card. I keep a credit card for emergencies and the exorbitant cash advance fees help deter me from declaring a midnight munchie attack an emergency. Taking advantage of ING's streamlining of my banking needs would upset this balance I've achieved that maintains a consistent rate of saving. ING's offer is tempting and their overall approach is so straightforward that I'm tempted to make them my one-stop shop for bill pay, savings, loans and investments (just take a look at their "products and services" page and tell me that's not pure simplicity). I've come to pride myself, however, for using each of the half dozen financial institutions I use only for a particular service that suits me (ie everbank strictly for bill paying, WaMu for free checking and easy access to cash, ING for no-minimum, high-interest savings). I'll still be giving ING's Electric Orange plenty of thought over the next few days.
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