ING your face, BoA (ING referral links included)

I like savings accounts. Having money in savings makes me feel responsible, like I am stewarding what the L-rd has given me, and it keeps me on track if I need to save up for something big. Case in point: I opened a savings account at Bank of America when I decided to start saving for a car. I picked that bank only because it would take me longer to drive to the nearest BoA location than to my regular bank. I reasoned that that would keep me from pulling money out of the account.

A few months ago I got my regular statement. I glanced at the amount in savings and was pleased; I was well on my way toward saving up for my dream car (a used Toyota Corolla, though I wouldn’t mind if the L-rd decides to provide me with a BMW Z3). Then I noticed the checking account. It was not $40 any more.

I hadn’t wanted a BoA checking account in the first place. I had only wanted the savings account, but they made me open a checking account too—minimum deposit of $25. I said “Fine, whatever,” dropped in $40, refused to sign up for a debit card, and haven’t touched that account since. So you understand I was confused when I looked at the statement. The obvious answer: new year, new fees. I was annoyed. But I am also an expert procrastinator, so I didn’t get around to fixing that until two weeks ago, when I got another statement that showed the bank had taken half of the $40 in “usage fees.” The BoA website didn’t say anything about fees, just vaguely promised an idyllic banking experience.

Tired of inexplicable fees and ridiculously low interest (wow, I made almost a whole dollar in interest last quarter!!), I did some research and landed on ING Direct as a better alternative. Then I went to the nearest branch to rescue my money. None of the bankers were in their offices. It was around 1:30 or 2:00 in the afternoon; perhaps they were taking a late lunch. A cashier said she would let them know I was here. I waited for 10-15 minutes before one finally decided to mosey on out.

“How can I help you today?” she asked.

“I need to close my account,” I said.

“All right, and may I ask why you are closing your account with us? Are you going to another bank?” she droned, clearly preparing to give me a last-ditch spiel. I wasn’t interested.

“I’m going to ING,” I said bluntly. “Higher interest, no fees.”

She didn’t say anything, because there clearly wasn’t a way to dispute what I’d just said. After ten minutes of paperwork, she handed me a cashier’s check. I deposited it in my regular bank and opened an ING Direct account that afternoon.

It’s great. The 3% interest/no fees/no minimum balance thing makes me happy. Plus I like the way it hooks up to my other bank, and the website’s copy is easy to understand and doesn’t seem condescending. (I am a fan of well-written copy.) I could get higher interest at another bank and generate more cash flow if I invested in a mutual fund or something, but for now I’m satisfied. I don’t think I will ever go back to BoA.

Anybody who’s interested in free money, hit one of the referral links below and open an account with an initial deposit of at least $250. If you do, you get a $25 opening bonus and I get a $10 referral bonus. Sweet deal for both of us. Let me know if any of the links don’t work (they’re one-time use only) and I will provide a lot more. You don’t have to know me to use them either.

If you want to open a savings account:
ING Savings referral link 1
ING Savings referral link 2
ING Savings referral link 3
ING Savings referral link 4
ING Savings referral link 5
ING Savings referral link 6
ING Savings referral link 7
ING Savings referral link 8
ING Savings referral link 9
ING Savings referral link 10
ING Savings referral link 11
ING Savings referral link 12
ING Savings referral link 13
ING Savings referral link 14
ING Savings referral link 15
ING Savings referral link 16
ING Savings referral link 17
ING Savings referral link 18
ING Savings referral link 19
ING Savings referral link 20

If you want to open a checking account (with interest):
ING Checking referral link 1
ING Checking referral link 2
ING Checking referral link 3
ING Checking referral link 4
ING Checking referral link 5
ING Checking referral link 6
ING Checking referral link 7
ING Checking referral link 8
ING Checking referral link 9
ING Checking referral link 10
ING Checking referral link 11
ING Checking referral link 12
ING Checking referral link 13
ING Checking referral link 14
ING Checking referral link 15
ING Checking referral link 16
ING Checking referral link 17
ING Checking referral link 18
ING Checking referral link 19
ING Checking referral link 20