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ING Direct savings account $50 signup bonus

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.

To apply, 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.

ING Direct $50 Signup Bonus


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3 Responses to “ING Direct savings account $50 signup bonus”


  1. 1 Tiffany Sep 28th, 2007 at 7:07 pm

    Thanks for this link! I’ve been waiting for another signup bonus to come along before getting an account for my emergency fund. Now I’m signed up and have $50 extra to go towards emergencies!

  2. 2 Alex Sep 29th, 2007 at 11:36 pm

    By the way Washington Mutual (WAMU) has a combo Savings and Free checking acount with the online savings account having 4.99% APY. There is a link to this deal from their main web page, just Google for WAMU. It comes with debit Mastercard with rewards, free lifetime checks, Local Branches (at least here in CA), and plenty of ATMs, I could not ask for more…
    I just opened an account there to get the great APY…but I did put $250 in an ING account to get the bonus, we are all greedy :)

  3. 3 Yan Sep 30th, 2007 at 7:04 pm

    Alex, thanks for the tip. My ING savings are earning me 4.30% APY so this WaMu deal doesn’t seem that bad at all. Have you used WaMu online bill payments? How do you like the interface?

    One of the things I like about Citi is their free next day fund transfers to/from external account (your accounts with other banks). Since I often move money around, I find this feature very useful.

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