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"Orange" bank accounts -- anyone know anything about them?

We've gotten a couple of mail solicitations from ING Direct, Inc. offering us an "Orange" savings account at a pretty high interest rate. A friend had mentioned something about Orange accounts awhile back but I really don't know anything about them.

Does anyone know how they do it? Is there a catch? Would you recommend it?

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(NT) I think Evie once mentioned something about having one.

In reply to: "Orange" bank accounts -- anyone know anything about them?

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about as much as you probably

In reply to: "Orange" bank accounts -- anyone know anything about them?

I know they are a virtual bank, 'brick and mortar' hq in the netherlands, they indicate they are fdic.

I have also received solicitations by us mail, free $25 to open account, free always makes one wary.

the one reason I vaguely remember why I did not take their offer was the time delay and procedure in withdrawing funds. that might have changed, I have not received anything in a year at least, they used to arrive quite regularly, every two months or so.

here is their usa customer link,

http://www.ing-usa.com/us/aboutING/index.htm

something under press release might be of interest to you. then you can explore to your heart's content.

caveat emptor

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(NT) used to funnel money to Ulster?

In reply to: "Orange" bank accounts -- anyone know anything about them?

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That's Orange as in William of ...

In reply to: used to funnel money to Ulster?

The Dutch king persuaded to come to England to rule in conjunction with The Glorious Revolution of 1688.

Orange is also a cell phone company in Europe and Israel, though I don't know if they have any connection with ING Direct. ING has been in business for a fair length of time, though they are relatively new to the banking business. I believe they were in insurance before, and bought up Norwich Union Insurance in the UK.

BTW Oranjeboom (Orange Tree) is a very pleasant Lager from Holland.

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I have used them

In reply to: "Orange" bank accounts -- anyone know anything about them?

Like others have said, they are a virtual bank. They were one of the first to offer online savings and CD accounts. Now, every single bank is in it.
I don't think their rates are as competitive as they used to be.
I have used HSBC online savings account, currently paying 5.05% for savings, no minimums. I know Chase and Citi offer the same accounts for slightly lower rates.
You have many choices.

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Thanks for the info, all

In reply to: I have used them

At first it looked like one of those "if it looks too good to be true..." type offers.

I'll give it some more consideration as well as other online options.

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