Skip to main content
This Board Has Moved

This board has been migrated to our new platform! Check out the new home page at or click below to go directly to the new Board on the new site.

Go to the New Site
Message Font: Serif | Sans-Serif
No. of Recommendations: 2
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.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.