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ING Direct Changes The Bonus Rules

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I was getting ready to send an ING Direct referral to a coworker when I discovered that the online bank changed the rules. Now, in order for a new customer to receive the $25 bonus, he or she must deposit $250 at the onset. This certainly changes the game for some.

ING Direct is offering 3.4% APY currently (more rates here) but with the extra $25 bonus, you can still beat some of the other banks’ offerings. I only have four three one referral left, so if you plan on depositing more than $250, feel free to request a referral email from me by notifying me via email.

By the way, for each successful referral who obtains the $25 bonus, I get $10 from the bank.

Updated June 16, 2011 and originally published October 13, 2005. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .


avatar UncommonWay

Drats. There goes my get-rich-quick scheme. Seriously, though, it was nice while it lasted. I got $25 for opening an ING Orange Savings account, and then another $10 when I referred my wife, who also got $25. She didn’t mind having a little extra money, and I didn’t either.

Still, an instant 10% return on your money isn’t bad.

avatar Caitlin

Hm…with HSBC entering the fray at a $35 bonus for minimum of $1 (no referral bonus though) seems like ING is losing their competitive edge. Emigrant seems to have won the rate wars for $1 minimum accounts, HSBC is going after the sign-up bonus (at least for now) … I hope they really bump their rate significantly. I do love the referral bonus, and i like some of their features….but I know this is going to be a barrier to entry for a lot of folks (it would have been to me back when i opened my account this spring)

avatar Financial Baby Steps

This change hurt me and my savings. I had been earning quite a bit from the $10 referrals and since the announcement, requests have basically dried up. I guess I need to figure out another way to increase my savings.

avatar daycma

I had a problem with ING. I had an arrangement with a third party to debit my ING account. We had a little problem getting in sync and they bounced 3 ach debits. We finally got it together and all was going fine. I just got an email that ING closed my accounts and sent the money to my linked checking account. Never once did they contact me to either warn me or find out what was going on. They don’t care that I now have to stop the now running right ACH debits before they try to hit the account. My call to customer service resulted in a snotty attitude from the guy. All-in-all I am really unhappy with the human service. The system worked fine but don’t make a mistake or your kicked to the curb.

On the bright side it made me look for something else and now I am going to be paid more for my money at Emigrant Direct, 4%!!!