Finally opened an ING savings account

Last night I opened up an ING Orange Savings Account. It’s about time, too, because this entire semester’s financial aid has been sitting in my Bank of America checking account, earning me nothing. I finally decided to make the switch because Bank of America holds onto my money for unknown amounts of time and doesn’t tell me why or when I will get it.

I had already switched my October money over to USAA because Don finally had his debit card for that account and I got my free checks.

The only reason I’m actually going to keep my Bank of America accounts open is because I have an automatic payment for my car that I haven’t gotten around to switching. I didn’t want to sign up for EFT in the first place, but the credit union that’s financing my car required it.

My favorite thing about USAA is the Deposit@Home feature. I simply scan a check and it gets deposited and is available for spending the next day. No having to deal with tellers and then not seeing the $200 cash I put in for three days (unless it’s over a weekend and then it’s more like five days.)

I’m still waiting for ING to verify that my USAA account is mine so I can deposit the rest of the money and start earning interest. It’s 4.3% APY, which is fairly high for an online savings account. I also haven’t heard any negative comments about ING, unlike WaMu and Capital One.

Anyone have any experience with ING? I wanted to get an Electric Orange checking account, but my credit isn’t good enough.