Another cool feature is that you can create as many savings accounts as you would like. You can give these accounts nick names such as; taxes, auto insurance, Christmas fund, rent, vacation fund, ect. Then use ING automatic transfers to make weekly or biweekly deposits to these accounts. This way you can keep your large bills from sneaking up on you. Internet banking really is no different then regular banking. The safety net is your local checking account. They use your local checking account to verify your identity. After your account is set up you can transfer money back and forth just like you would if you had more than one account at your local bank. The nice thing is that there are no bank fees, and no minimum balances. The bonus is you get a higher interest rate. The important account from ING is the checking account, this will become your spend money account, however, I recommend opening a savings account first. This will give ING a chance to evaluate your credit before you open the checking account. If you have good credit you should be able to get higher overdraft protection/credit limit on your ING debit/mastercard. It takes about two days for them to make two small deposits into your primary checking account for verification, but once that is done and you verify the account, opening an ING checking account takes about two minutes. When you open your checking account I would suggest applying for at least half a months salary for your overdraft protection/credit limit if possible. Your ING debit card should become the only card you need to have, so you want your credit limit to be high enough to handle most emergencies. If you have no credit, ING will limit your overdraft protection to 25 dollars. If you reach your limit, ING will just simply turn off your debit card. The ING Debit card is a great tool for getting rid of credit cards. With an ING Debit/Master Card if you go below zero in your account there is no overdraft fee. They simply charge 9% intrest on the amount of the overdraft as though you used a credit card. By using ING Checking as your spend money account you will be making biweekly or weekly deposits to this account. It is very easy to check your balance online, or by using an ATM machine. This can really help keep the spending under control because with a credit card you have a month of spending before you see your bill. By using an ING Debit/Master Card, you will see your balance when ever you want to. Because you are making deposits weekly or biweekly the interest you pay will be much lower than that of a credit card. If you can keep your balance positive, that will give you the most benefit. Still, it is nice to know that if you have a major expense this is the only card you need to have in your pocket to cover your expenses and if it becomes necessary, it is easy to transfer money from your other accounts to keep this account above zero. What is most important here is that ING has almost no fee's, and it is a big step twards getting rid of your credit cards.

ING Advantage

One of the coolest features about ING is automatic transfers. It is a great tool for budgeting. If you do not have Direct Deposit you can put money into your local checking account and set up automatic transfers to your other accounts using ING, or if you Direct Deposit to an ING account you can use ING to seperate your money into any account you want. This can be done weekly, biweekly, monthly automatically, or only once on a date you specify. ING also has an option to e-mail money to anyone who has a bank account.