Ever since Mint tipped me to the possibility of earning interest on my checking account I can’t stop thinking about alternatives to Citibank, my primary bank at the moment. I am not ready to jump the ship just yet but offers like this make it very tempting.
This particular promotion is exclusively for New York Times readers and requires you to open a savings account and make an initial deposit of $250. If you are not NY Times reader yet, no worry, it is never late to start. ;-) Here is a ink to the newspaper. The ING Direct banner is readily available on the top that page and will probably stay there until October 1, 2007 when it expires.
click on the image (the offer has expired!) below and enter NY3 for the offer code (or just click on that banner at nytimes.com). Before you do however, here are a few (important for me) things I would have to sacrifice if I moved all my accounts to ING (including checking):
- Can’t write my own checks (ING Direct sends all checks for you)
- No local branch (what did I expect?, it is an online bank after all!)
- No ATM deposits (important if you ever need to deposit fast)
Alternatively I could go ahead and make a quick buck by opening just a saving account (and I just have the money for it - my 8 y.o. daughter’s birthday gift - she is saving for around the world trip :-) ), however from my past experience, banks are a lot of pain to deal with if/when you decide to close the account, hence I might skip this offer and wait for a good credit card promotion instead.